The Ohio Democrat. (Logan, O. [Ohio]) 1886-1906, 1898-05-11
THE SEMIWEEKLY OHIO DEMOCRAT WEDNESDAY MAY IL 1888


sented by property, yet contraction |
and stagnation Of industry result
ing therefrom would be avoided.
If IL becomes necessary to raise
war funds let this policy be follow
ed. 1t would redeund to the adj
vantage OF the Republican party,
for 1t would bring prosperity with
war, or rather in spite Of war and
II would not necessirate on the part
of the Republican party any swal-
lowing, any endorsement of Popu-
listic doctrines.
Though pursuit of such a policy
would rebound to the profit Of the
Republican party we urge It In all
unselflshness, we would rejoice to
see 1t pursued, for It would rebound
to the profit, the advantage of our
people, their strength In aggression
and defence, to the glory and pow
er OF country that can he made
free from the agGressions OF the
moneyed oligarcliy, made free from
the rule of might and money, made
the home of free men even though
1t is not now a country where the
equality of man, the brotherhood
of man, the great precept Of Chris
tianity, the great need of an ad-
vancing civilization, cooperation,
may be practiced and wrought out
in way that Is impossible else
where. The advancement Of the
doctrine of equality, of the true
principles of Christianity, Of civil
ization during the twentieth GEN.
tury rests with the. American peo-
pie. If they do not advance this
doctrine It will not advance during
that century, the brighter civiliza-
tion now dawning and dependent
for it's unfolding upon an acknow-
ledgment of this doctrine, a civil.
ization dawning but still beyond
our reach, still unattained will be
set back, 1t may hap for centuries,
set back until some race now far
behind us in civilization, q race de-
spised even as the Romans despis-
ed the Germans and Britons and
Celts as barbarians, may arise, come
forward and advance beyond our
civilization even as our civilization
has come forward 10 overtop that
of Rome, a civilization that fell be.
cause of the exalting of money and
belittling of man fell from the same
cause that now threatens our civil.
ization, our advancement, our Re
public.
But to return to the raising o
war funds. We have striven tl
, point out that in the raising o
such funds there Ia a way of folly
and of wisdom, that the way o.
wisdom is the issue of treasury
notes in advance of mad as prepar
alton for bond ISSUES. And though
there might be novelty for US II
, the pursuit of this way of wisdom
there Is nothing novel about it
With greater wisdom than we hav'
evinced Great Britain has pursued
just such course for years in re
gard to taxation. Before collect
ing her taxes she furnishes her peo
pie with the means of paying then
! without depicting the instruments
the greatest instruments of al
pounds and shilliugs and pence, b.
I which the great interchanges @
: commodities are effected.
!, AS the government of Great Bri
: tain needs money it causes to b
: sold what are known as excheque
4 bills, or in other words treasur
e notes, receivable for taxes and pull
u lie dues and so redeemable. B
the issue Of these bills the loss tbs
: must ever result from drawing an
Q considerable amount of money ou
e of circulation and locking it up !
the treasury until such times 9
y the occasions arise to disburse 1t
9 avoided. The bills are only issue
o as the money Is needed, 80 none
o only taken out of circulation b
If the government to be at once pt
i hack again, and 80 the payment I
o taxes does not cause a. wastefI
l. locking up of money for these e.
g chequer bills provide the means ,
. payment.
O If the necessity comes for raisin
y war funds we can well profit b
d Britain's exa mple in the collectio
OF taxes. To follow that exampl
Q is to prevent currency contraction
y to prevent trade stagnation; to II
Q more that example, to issue bond
It without an intermediary issue {
o treasury notes to provide tn
" means Of payment, is to force col
It traction and stagnation. Betwee
IS mn rsuit of the two policies lies a