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Show H TIU."U11.10VI" (lltllLM'V.Srtlll.. B Tho iUeatlon of a circulating me. B dlum for thu facilitation of tratllc B among manUInd, la onu that our nd- BB valued clvllliatlou aud Improved BB cundlttona havu failed to tutceufully BB cope ulth; by thla wo do not uuau BB that thu currency ejtteui la a falluro or B that wuhavunu adiquatH purchaalug H agency, but that thu emeatloii of what H should beiitod aud to what extent, U H rtlllauoieuonv. It Uthuwn that the H money iued by thu general goveru- H ment has not kufllchmt olaitlclty of H Volume', ami that It thua does not meet B (li ce)Ulrc iieuutH ( a good circulating BBj medium; that it Is cmy to Imuu but H dilllcuH to get loci-; und that C'ongrevi H lsuer ready to Imuu moro but never H willing to make tho amount outataud. H log any lt. This Is olnlej to by B contracllolihu as an ulllilclnl means B of hceilng thu volumu of monuy H . ciiuul to tho demands of t rude, but tin y H claim that Its i lain mi I logical reoult H la rnUutlon and uncertainty. H Thocuirenc) fiiitHtlejii ligured large- H ty In the lato eamj nlgu, being brought H outcontplcuously by Jamoa (l.lllalne't H arraignment of thuplank In tho I)imi V crutlo platform calling for tho repeal B of tho tax on ttato bank Istues. H Thla was tolled upon by tuu ltepubll- B cans u an uvldcnco that tho former BB party favored a return lo thu looal BB eurrrncy prevalent Uforo thu war, BB and whloh woi variously nlckoamed, BB but moit generally called "wlldo.it BBj money," "ahlupltttcri," etc.; at leuat Br Hi. p M BBBBfe T .IBBaaaaaaaaaa... theyelnlmed lliat ItwtB nch evidence, and Bven It dwl thu e-nuntry with caricatures of bank bill containing a Jlclnre of ( IcTclnndiend n wlldcal,thu olject being l Influence voters Biclnt Iho alleged financial policy of the Democratic party. Of course the scheme had but little ellect, radically It had none at all, not because thu people peo-ple me not afraid of nn unaluble or bkitcdeM currcne, but because they did not believe that the Democrucy contemplated anything of tho kind. The plank referre-d to was the work of Hon, Michael I), Ilertcr, onu of thu most pundatenl audatrlngent advocates of a sound currency In thu wholo country. He carries his views In this regard to such nn extent that he advocatia nothing but gold us a atsndard of value", with everything every-thing that liailes In tho ahapo ol a circulating medium convertible Into gild at tho pleasure of the holder; liter he would treat oa to much metallic metal-lic nicrchaudlao, having n monetary valuu only to the extent that It Is Interchangeable, In-terchangeable, dollar for dollar, with the other coinage. Of course', woof the Wustaud aguolly number In tho other parts of thu country don't agree with him, Inslitlng upon It as wo do that illvcr Is as royal n metal at gold and Is lutrlnaloilly entitled to be nn Independent circulating medium; but no matter as to that. Thu joint la, ou!d n man with such views as Mr, Harler ba, and iiosnesalng hit abilities and cxiHirlence as n I tibllclst, be likely to to stultiry-we might say belle himself him-self as to favor nu oxerliiienlal or. iimitlouablo currency of uuy kind? It It Idle to think so. Thu Isiuea ol statu banks are pre. auuiably, tit edict, no msuy certificates certifi-cates of dooe!t iod to the holdor for Iho amount expressed on thu faco In current money of the Unite I H:uti. Thu only uncertainty which thu holder won Id cem to beustlMed In feeling Willi regard to such lime-a, woull In us to the stability, ability ami honesty of thu bank from whenoe It came; If thoy acquired tuniclent circulation the peo-plu peo-plu would thua of course becomo Involuntary Invol-untary partners In a banking builntss, but why not? With the ability to draw their Investments nt any tlmu or to as-plgii as-plgii them without formality ou any uccailon, what function of coined moner Is wanting? Indeef, It Is moru omvenlent than coin, for thu reason that large amounts cati bo carried on Ihri perron without Inconvenience or exposure; and when to this Is aided taletyaud security, certainly nothing butler could be asked. The Issues of thu government lliclf rest on a similar lasts Its ublllty to redeom In coin and Its willingness to do soon demand; with these firmly te ttleel thcro are nu such demands, the peoplu oa a lulu would rather have the pair. This brings us to thu question i roper -the taxation of stale bank tenuis. It Ivlng u settled thing that taxation Is n vexation lend that III whatever form It Is Imposed It It In ono way or another, ntonutlmo or nuolher, pale! by the pcoilu, thu question arisea us to what extent tho taxing (kiu it should be liked. This has ust beou settled by what appears ap-pears to be mure than half a million majority In favor of the imposition that such (tower shall bu exercised no further than tho neula of thu government govern-ment economically administered actually ac-tually rcejulre. When there Is war or any othe r gruat national calamity Uton thu land, there mint bu Increased taxation tax-ation and uthir burdens imposed In order to meet thu lucreaeed expenditures; expen-ditures; but when jcaco prevails and thu mrli of thu government aru fuw uud light, thu Imposition of a tax In nuy form or for any ltiri'usu leyoud vnough to pay tile hills, Is uit cauto for oomphlnt It not resistance; carried too far It ustumes the form of robbtry pcrpelrat-eit pcrpelrat-eit fur Its own sake, not for tiny law. fill or reasonable piirosu at ull. The Democrats In convention utsumhted, uiru'i'dlluni,olviH against suih rucu-dure, rucu-dure, ilecliriug that cimtoms dues must bu scaled aud ull forms of taxation reduced until thu government's In-oomu In-oomu aud Ita legitimate outlay wero eijual or in nearly ao us prrctlcable, thus forestalling thu aceuuiulatlou of a stirplUs Inciting to extinvaganuo und liivlllug corruption. ltrgsrdln Iho axtllon of state bank lasuui in n measure eif cxpeiifu to tho joople among whom such money circulates, without lucnaslug their security or ajdlug In the least to lis adequacy, thu party, to be consistent with Its professions, profes-sions, was comeilleds tu demand the repeal of the law under which such tux la levleel. Ill thu Democratic, vlow, ltaremedas If the rcineily ugilnst an Insecure uud hazardous circulating medium waaliithn people theuitelres, at least, so far as local lirum nre concerned; such Isme wuild not bu lu circulation II they did not conn lit to it; and Uln wtlllns; io huvn it and usu It, It si e med unreasonable that tliuy should haru t ly tor ll)u privilege a payinont wlili h, It U claimed, amounts simply to a fine when thu one ivho a)s It has c ouiitilttcd no oflunsee. It mutt bo couf esreil that Ihosewho sitw and reallred the Imuu as defined by Mr. lllulue, and who know by recollection or stuJy thu grievous In. convenle noes una' Injuries of the Iniquitous staUliank uuteu of various aud uncertain vnluu lu tho oil dnjs lefore thu war, had cau-u to bu atringthened In their fears by Mr. ('level eud's absohito silence oil Iho question lu his litter o( acccplauce and thovvailousot tho various Demi-cratlo Demi-cratlo orators. 1 1 la no dou bt a fact that they found It u dinicult subict to haudlo, uud onu' they would bavu preferred to scu kept In abeyuuee. Ncvcrlheless, Its otiunclu. tlon lu Chicago was lu strict ac rtlaiice with tn- I) mo ratlc iloclrlii" of slate sovereignly, " 1 cannot surely lie viewed as Inronslst eol, while the i Irriinistmcy of Its Introduction eughl to havo a tendency to allay thu anxieties ol those who regard re-gard It as a menace to our currency. Tho Ni-wb, which la neither an apologist for nor actcuier of the Deruo-crstlo Deruo-crstlo or the Jlepubllcau ally, and oerlalnly Is not the mouthpiece of any parly, merely reients In tho foregoing anoxilauatlonof whit was meint by the financial plauk lo Ihe plitfsrm of the first named organization. That It could not reasonably botr a "wll leal" constluLtlon seems td be thu verdict of tboiieopln of the couutrj, and Willi that all will havn to reet uontentud, fot a whllo at least. |
