| Show THE WILDCAT CURRENCY SCARE the question of a circulating me daum for the facilitation of traffic among mankind to ii one that our advanced civilization sud aud improved conditions have failed to successfully cope with by this we we do not mean that the currency system Is a failure or that we have no adequate purchasing agency but that the question of what should be used and to what extent Is still an open one it la is shown that the money by the general govern ment has not sufficient elasticity of volume and that it thus does not meet the require ments of a good circulating medium that hat it la Is easy to issue geue but difficult to get back and that congress esever is ever ready to iame more but never willing to make the amount ing any less this to is pointed to by contraction lets as an artificial means of keeping the volume of money equal to the demands of trad but they claim that its plain and logical result is in inflation and uncertainty the currency question figured largely in the late campaign being brought out conspicuously by james arraignment ot of the plank in the democratic platform calling for the repeal of the tax on state bank issue this was seized upon by the republicans republican as an evidence that the former party favored a return to the local currency prevalent before the war and which was wae variously nicknamed but most generally called wildcat money ay shin planters etc at least they claimed that it was such evidence and even flooded the country with caricatures of bank bills containing a picture of cleveland and a be object being to influence voters against the alleged financial policy of the democratic party of course the scheme had bad but little effect effice practically cally it had none at all not because the people are not afraid of an unstable or useless baseless currency but because they did not believe that the democracy contemplated anything of the kind the plank referred to was the work of hon michael D harter one of the must moot persistent and advocates of a sound currency in the whole country he carries bis bin views in this regard to such an extent that be advocates nothing but gold as a standard of values value with everything that issues in the shape of a circulating medium convertible into gd g ld at the pleasure of the holder would treat as so much metallic merchandise having no monetary mone larj value only y to the extent that it is in interchangeable ter changeable dollar for dollar with the other coinage of course we of the west and a goodly number in the other parts of the country don dont pt agree with him insisting upon it us an we do that silver is in as royal a metal as gold and is intrinsically entitled to be an independent circulating medium but no matter as to that the point is would a man inan with such views as mr harter hap bar and possessing his abilities and experience as a publicist be likely to so stultify we might say belle belie himself as to favor an experimental or 01 questionable currency of any kinu kino it is idle to think so the issues idues of state banks are presumably su mably in effect so BO many certify cerlan cates of deposit good to the bolder for the amount expressed on the face lu in current money of the united states the only uncertainty which the holder would seem tobe justified in feeling with regard to such issues would be as aa to the stability ability and honesty of the bank from whence it came if they acquired sufficient circulation the people would thus of course become indol unitary partners in a banking busi business nem but why not with the ability to draw their investments at any time or to assign them without formality on any occasion what function of coined money to ia wanting indeed it is more c convenient than coin for the reason that largo large amounts can be carried on the tbt person without or exposure and when to this is ia abided safety and security certainly nothing better could be asked the issues of 01 the government itself rest on a similar basis its ability to redeem in coin and its willingness to do soon demand with these firmly settled fettled there are iw no such demand ta the people as a rule would rather have the paper this brings bring us ua to the question proper the taxation of state bank issues it being a settled thing that taxation is a vexation and that in whatever form it is imposed it is in one way or another at ov 01 e time or another paid by the people the question arises as to what extent the taxing power should be used this has baa just fust been settled by what at n pears to be more than half a million majority in favor of the proposition that such power shall be exercised further than the needs deeds of the govern n ment economically administered dually require when there is in W a warn any other great national calamity ar or the land there must be increased iacre ased I 1 t ta abion and other burdens burden 8 Itu imposed pose order to meet the increased i di tures but when pea peace ce prevail elpe ex pen and the needs of the government few aud and light the imposition are a a tax in any form or for of ny an abw purpose beyond enough to the bills is just cause for complaint v my mot bot resistance carried too far it the form of it assumes robbery permetra per petra ei ea e i for its own ake take f not for any law ful or reasonable purpose at all th rh democrats Demou rats in convention arrayed themselves against such assembled led e pron dure dur declaring that customs dues be scaled and all forms of ef taxation must niu reduced until the government come and its legitimate outlay i equal or as s nearly so as practicably er abi thus forestalling the accumulation surplus inciting to extravagance of inviting corruption and an ae tk the of state bank issues measure of expense to the cepl aa a among whom such money circulates without increasing their security 1 aaning in the least to its adequacy n party to be consistent with its project the th was compelled to der demand and repeal of the law under which the th tax is levied in the democratic such vi view it seemed as an if the remedy agair against ant an insecure and hazardous cincu circulating medium was in the people theme lating at least so ar as local bep n issues are concerned such would not be in circulation issue they did not consent to it ir if JI and b bein e I 1 n willing to have it and use it it seemed unreasonable that they should ha pay a which it la in claimed amounts a fine when the one who pays paya ihl it committed no offense oft ose oa bus it must be conf espel that thol tho saw flaw and realized the issue as who defined ty IT mr blaine and who know recollection or study the ahe by grievous a inconveniences I 1 and injuries of the tha iniquitous state bank notes of and uncertain value in the old various dav before the war brid bod cause to dug b strengthened in their fears by mr cleveland s absolute silence on the question in his bla letter of acceptance and the evasions of the various democratic orators it la Is no don doubt bt a fact that they found it a difficult to handle and one they would have preferred to see kept in a abeyance be yance nevertheless its ite enunciation a in chicago was in strict accordance with the democratic doctrine of state sovereignty and cannot surely be viewed as aa inconsistent while the circumstances of its introduction ought to have a tendency to allay the anxieties of 0 th those ose who re gard it as a menace to our currency the NEWS which is in neither an apologist for nor accuser of the demo cratic or the republican party and certainly Is not the mouthpiece of any party merely presents in the foregoing an explanation of what was meant by the financial plank in the platform of the first named organization that it could not reasonably bear a construction seems to be the verd verdict letof of the people of the country and with that all will have to root rest contented for a while at least i |
