The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-06-12
Bad Politics in kentucky.

Bad Politics in Kentucky.
The so-called National Democracy, which
was differentiated from the regular Ma
tional Democracy at Indianapolis last year
and cast about 1872 1000 votes in November,
as against over 8 $500, 900 polled for BRYAN,
has something of an organization In Ken
lucky, which has now issued a call for a
State Convention, to be held at Louisville
next month, for the nomination of a candi-
date for Clerk Of the Court of Appeals.
The tone, spirit, and character of this
call are expressed in the extract below:
I'VE appeal to all Democrats to unite with us who
believe. as We do. In sound money; In q tariff for rev
enue only; in the honest and full! payment OF all law
full obligations; in law and order. and in the proteo-
ton OF property from lawlesSness and riot; in the
restoration OF good feeling. instead OF arraying citi.
zens and classes against each other; and In the pro-
lection OF the name and credit OF the commonwealth"
1t will be seen that the purposes an
nounced are general and not specific as re.
CARDS the currency issue. To demand
sound money" merely is to beg the ques.
tion. What is sound money! That is the
question which is the great political issue
of this time. The Democracy Of the Chi.
"a platform, the regular Democracy, say
it is unlimited silver, coined free, at the
ratio of Ii to /. At least, that is sound
enough money for them. But the platform of
the Indianapolis Convention Of the Ma.
tional Democrats who have sent out this
Kentucky call, INSISTS upon the main
tenance of the gold standard and
Of the parity Herewith of every dollar
issued by the Government" and declares
firm opposition "to the free and unlimited
coinage Of silver" Why, then, did not the
call from which we have quoted define
Sound money" as the single gold stand.
ardi Then the National Democrats of Ken,
lucky would have had a clear definition,
and everybody would have known exactly
where they stand.
But in another plank the Indianapolis
platform itself confused the subject of
currency reform" by this declaration:
1--WE denounce also the further maintenance OF the
present patchwork system OF national paper cur
rency as a constant source Of injury and peril. We
assert tho necessity OF such intelligent currency re-
form as will connne the Government to its legitimate
functions. completely separated from the banking
business, and AFFORD to all sections OF our country 4
uniform. safe. and elastic bank currency under gov.
ernmental supervision. measured in volume by the
needs of business"
The issue Of circulating notes not being
banking business, but only an excrescence
upon 1t, the Government is not now in that
business; but so far as this plank is in.
terpretable 1t means that the whole business
of issuing circulating notes should be taken
away from the Government and given to
the banks alone. AS bank currency, how
ever, Is to be " under governmental super
vision" how is the Government to be "com-
pletely separated from the banking bust
ness by the adoption of the Indianapolis
proposition?
If the Government is to go out of the bust.
ness of issuing circulating notes, and the ex.
ercise of the function is to be turned over to
the banks solely and for their exclusive
benefit, the ~greenbacks and the Treasury
notes must be retired and bonds issued, on
which the bank currency shall be based,
or else the "elastic currency" allowed
will be a wildcat currency purely.
The banks would be sure winners
under such a plan; but who else would
get any profit from it2 Are the
people so much in love with the banks that
they would make a sacrifice of $40, OOO,-
DOC or $4,000, 900 a year for their
benefit The proposition would not get
even serious consideration In Congress, and
when the consequences involved in it were
understood by the people they would reject
it almost unanimously, and with contempt.
II is a device to substitute unsound money
for sound, and for the benefit of the banks
and nothing else.
What is the use, then. of any political
faction undertaking to found q platform on
such u rotten plank?
Moreover, the call of the Kentucky Ma
tional Democrats asserts their belief sin
a tariff for revenue only" The platform
OF the Democratic party adopted in 1892
made the same declaration in still stronger
and more precise terms. 1t declared it "to
be a fundamental principle Of the Dem,
ocratic party that the Federal Government
has no constitutional power to impose
and collect tariff duties, except for the
purpose of revenue only" But as il
proceeded, when put in power, to levy
tariff duties for protection distinctively,
and sedulously avoided the imposition OF
purely revenue duties, on tea and coffee,
for instance, and, instead, got up an uncon.
stitutional income az in defiance of "a
fundamental principle of the Democratic
party" no more Democratic assertions