The times. [volume] (Richmond, Va.) 1890-1903, 1898-06-16
TRUE DEMOCRACY.
Address Of the Sound Money Demo-
Gratis Of PENNSYLVANIA.

The undersigned. representing meet
ing OF Sound Money Democrats, held az
the Hotel Walton Philadelphia, March
4. 1898. hereby declare their fixed purpose
TO hold no compromise with POpulism nor
surrender their Democratic principles 10
| the Republican party policies, which nave
led the country into moral and poItical
chaos but firmly adhere to the platform
of the Indianapolis convention Of 1896
| and the doctrines which have governed
| the Democratic party in the past, when
jefferson and Madison and Monroe and
Jackson and Tilden and Cleveland led the
party TO it's best victories.
The events Of the past two years nave
justified every position taken by the Ma,
tional Democratic party I'm the sound
money campaign OF 1896, and have vim
dicated those who voted for Palmer and
Buckner The Democratic supporters
OF Mckinley made more OF a protest
than the emergency required in Penn
sylvania.
The development Of commerce and mod
ern methods OF business have eliminated
silver as "a standard OF value, and al
though every commercial country has
adopted the gold standard and absorbed
all quantities OF that metal directly or
indirectly necessary for exchange. there
is an ample and increasing supply for
the requirements Of trade Commerce
grows more active with the growing
confidence in the maintenance of the gold
standard.
But there has not been. nor IS there
likely TO be. any legislation by the pres
ent Congress for it's permanent mainte-
nance, although many industrial enter
prises have been depressed or retarded by
the fear Of raids upon the gold reserve,
which would again shake the confidence
Of the whole business community. The
legal tender notes, the instruments by
which these raids are made. should be re-
tired when redeemed I'm coin and not again
re-issued. They are almost entirely alb
sorbed as reserves by the banks OF the
country. and few Of them would be pre-
scented for payment IL cancellation follow
ed redemption. Confidence would thus be
restored without contraction.
The national bank system Is based upon
its use as an instrument by which the
national government may borrow money
under the power granted by the Consu-
tuition for that purpose. But the cur
rencv issued by such banks has long been
diminishing I'm quantity. and. under con-
ditions 81 peace, but a few years must
eIapse before il shall have entirely dis
appeared from circulation. There has
been no legislation. nor Is there likely 10
be. by the present Congress for the IN
crease Of this currency The system must
be revised as an instrument OF Interstate
commerce. under the power OF Congress
for that purpose, 20 provide a constltu-
uonal interstate currency Tor inter-
state trade. or It must cease TO exist.
The natural and lawful evolution of local
State currency must therefore be through
the state banks, which now outnumber
the national banks, and the prohibitory
tax upon their circulation should be re-
pealed to enable them to provide sound
local currency 10 meet the necessities or
local trade But all such bank note issues
whether national or State, should be SUD-
ioct 10 such regulation as Will ensure the
absolute safety Of the note holder.
The Republican party. the author OF the
evils from which the country Is sunerlng.
is powerless TO correct them. The battle
with Populism I'm the next Congress ana
with the Republican machine at nome
shouId be fought by that true Democracy
which stands for tariff reform. for cur
rencv reform on the gold standard. and
for the overthrow OF rotten methods IN
the government Of Pennsylvania
/ We recognize the patriotism or the Dem
ocrats who believed II their duty to fol-
low, the partv organization in 1896. and
we invite their support and cooperation
as well as that OF all good citizens, ire
spectiye of past party affiliations who
desire the pure and honest administration
~ government. We call upon al TO
unite with us I'm an effort TO free the
state from the present iniquitous and
corrupt dominion of the Republican par
~. To that end we declare our belet'
/. That strict adherence to the Con-
stitution Of the United States as the su-
preme law Of the land, particularly IN
the defence Of the obligation OF contracts
is the first essential OF political intrals'
fhoraWttn n.
2 That gold alone Is the safe STANDARD
of value for foreign and domestic trace
ana for the coinage Of money.
3 That all paper currency OF the Ma
tional Government should be retired
when redeemed in coin and not again re-
Issued.
A. That the national bank system should
be revised to enable It TO provide an ade-
ouate currency for Interstate commerce.
and the tax upon the note issues OF state
hanks should be repealed 20 enable them
TO provide necessary local currency Tor
local trade within the lawlI. scope OF
their charters.
r THAT all taxation, State and national,
should be for revenue only and that for
eien trade should no longer be hampered
by the vexatious cxactions OF retahdt9ry
tariff legislation at home and abroad,
preventing the active interchange OF
commodities upon which prosperity de-
ponds.
G. That beyond the constitutional limits
10 its authority. the National Govern
ment should not NEEDLE with the finan-
ciaI and commercial affairs OF the peo-
pie.
7. That the administration OF the state
In every department. should be promptly
re-organlzod on a basis Of probity. ca
pacitv and efficiency. Enormous perma-
nent balances in favored banks should
be abolished and n Legislature elected
that will elevate the political and moral
tone OF the Commonwealth by avoiding
the scandals which have disgraced the
law-making branch OF the state Gov
eminent.
James Denton Hancock, Franklin.
A. Il. Farquhar, York.
David w. Sellers Philadelphia.
Thomas Dewitt Cuyler PHILADELPHIA.
John Samuel. Philadelphia.
Henry Morris. NJ. D., Philadelphia.
William Drayton, Penllyn.
T. J. Brooks. Pittsburg.
Pearson Church. Meadyille.
Charles r. Kennedy. Pittsburg.
Rowland Evans Hayerford.
Murray Rush ST. Davids.
John Campbell. Berwyn.
Tryon Lewis. Radnor.
BENJAMIN G. Potts, Media.
June 10. 1893.