Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1900-10-12
I he Financial Plank.

The platform Ielterdtes the demand
contained i'll the Chicago platform for
an American financial system made
by the American people for them
selves The purpose of such a system
is To restore and maintain bimetallir
level Of prices, and in order that there
may De no uncertainty as 20 the meth
cd of restoring himetallism. the specit-
ic declaration in favor of free and I'M
limited coinage at the existing ratio
of 10 10 !. independent of the action
of other nations. is repeated. In 1895
the Republican party recognized the
necessity for Limetallism by pledgng
the party to an earnest effort to Sc
cure al international agreement for
! the free coinage az silver. and the
president. Immediately after his in
auguratiOn. BY authority Of congress
! appointed a commission composed OK
distinguished citizens to visit Europe
and solicit foreign aid Secretary Hay
! in a letter written 10 Lord Alderman
! in November. 1898. and afterwards pub
lshed In England. declared that at
that time the president and majority
OF his cabinet still believed in the great
deSirability OF an international agree
ment for the restoration OF the double
standard, but that il did not seem
oppOrtune to reopen the negotiations
just then. The financial law enacatcd
less than a year ago contains con
Guiding section declaring that the
measure was not intended TO stand III
the way of the restoration Of himetai-
llsm. whenever il could he done by
cooperation with other nations. The
! platform submitted to the last Repub-
4 lican convention with the Endorsement
of the administration again suggested
! the possibility OF securing foreign aid
in restoring silver.
Now the Republican party. for the
first time. openly abandons its ad-
vocacy Of the double standard. and In
dorses the monetary system which IL
has so often and so emphatically con-
demned. The Democratic party on the
contrary. remains the steadfast advo.
cate OF the gold and silver coinage OF
the constitution and Is not willing
that other nations shall determine for
us the time and manner OF restoring
silver to its ancient place as a stand
ard money. The ratio OF 16 TO ! is
not only the ratio now existing be-
tween all the gold and silver dollars In
circulation in this country, ratio
which even the Republican admins
tration has not attempted to change.
but it is the only ratio advocated by
those who are seeking to reopen the
minis. Whether the senate, now hos
tile to bimetallism, can be changed
during this campaign or the campaign
OF 1872 can only be determined after
the votes are counted. but neither the
present nor the future political COM
plexion OF congress has prevented or
should prevent an announcement OF
the party's position upon this subject
In uneluivocal terms.
The currency bill. which received the
sanction of the Executive and the Re
publican members of the House and
Senate. justifes the warning given by
the Democratic party In 1896. 1t was
then predicted that the Republican
party would attempt to retire the
greenbacks although the party and its
leaders studiously concealed their in
tentions. That purpose is now plain
and the people must choose between
the retention OF the greenbacks. issued
and controlled in volume by the gov
eminent. and a national bank note cur
rency issued by banks and controlled
in their own interests. II the ma
tional bank notes are to be secured by
bonds. the currency system now sup
ported by the Republican party in
wolves a permanent and increasing
debt, and. so long as this system
stands. the financial classes will be
tempted TO throw their powerful influ-
ence upon the side OF any measure
which will contribute to the size and
permanency of a national debt It is
hardly conceivable that the American
people will deliberately turn from the
debt-paying policy OF the past. to the
dangerous doctrine Of perpetual bonds
Election Of Senators by She People.
The demand for a constitutional
amendment providing for the election
of Senators by direct vote OF the peo-
pie, appears for the first time in a
Democratic National platform. but a
resolution proposing such an amend