National Republican. (Washington City (D.C.)) 1872-1888, 1874-03-04
TIE ExoHEousR.
UBLIc MEETING IN RIuHMoND-HON.
JAS. II. PLATT'S BILL ENDORSED.

JAS. II. PLATT'S BILL ENDORSED.
tCorTespondsaee Of the National Republican,
Z ,'S.s.-s, RICHMOND. Va, March ., ls7A
n lDneial md busipsss circles this morning
The aol6 and couvincing address Of Hon. James H.
Plat, member or Congrsss from this State, upon
The subject Of . netional sxchequer forms lead
iug topic OF eon*oesatiou. The comments are
fas6fabls with hardy dissenting voice, and the
hearty indofsensnt Of his financial propositions
given On Saturday evening IL fully seconded By
the larger circle Of merchants and others who
wsfs not present st the meeting. The press Of
the city whites n favorable comments upon the
leading and essential provisions Of the bill -
proposed BY Mr.. Plat, and no doubts are sx-
pressed q to the pastage Of the regulations pro
posed BY Gen. Anderson and adopted ~ the tense
o. the meeting, when this shall DO brought be-
ess 81 The
eral Relaflooa.s
Mr.. PIaits audience here was one eminsntly
intsiiisenes, ineuGins leading BANKERS, ssye1s
and Legislators Of the State. The honorable gen.
tleman appeared before them, summoned BY let
provisions Of his nnaneial bill recently introduced
In the Oongress Of the United States. This invi.
II
Of Its hall for the meeting.
1t WIS stated, very emphatically by the speaker,
pockets & the man Who s'S wa! and
could give NO security for . loan, although this
class persons Will often hinder by their cIamors
and objections, and otherwise embsrrass financial
The proposition advanced BY the speaker, that
every man having property ought to be able to
portion Of its value in money for business conve-
nience, OF necessity required little argument to
MI. Plat satisfied his auditors that his ex-
chequcr BILL would accomplish this result, and At
the same time make the currency Of the country
safe, and Everywhere, at home and abroad, -
The rssoiutions unanimously adopted a. the
sense Of the meeting, and which were drawn up
70 b. offered in the General q the State
glst and spirit are shown BY the following:
THAT In the opinion Of this General Assembly
q s'ss The 81 III S. ne
establishment Of tho Exchequer,' seems to en-
body Substantially the foregoing principles, and
"That the Senators in the Congress Of the
United States from this State are hereby In
structed, and the members Of the House Of Repre-
es ,s%s Il on
sembly, a. hereinbefore expressed.
aThat his Exosllency. the doYVaar q this
epy ~ n,: e
lions to the Governors Of the several states with
request that they Will lay It before their respeo-
70 s
tod STATED. With the request that they viii present
The new charter for the city Of Petersburg also
srnor Kemper viii veto the bill. This charter
Pt $, ss Il ss Sly
Tho crime q Petersburg e. that majority Of he.
to govern herself, but must be subjected to the
outrage OF foreign control. Yours, A.
REMARKS OF HON. JAS. H. PLATT.
The following abstract Of the remarks Of Mr..
Plat is copied from the Richmond Dtspdtch Of
Monday:
HE claimed no credit for originality in this
scheme, but had simply brought to 1t . rough
practical business experience Of fifteen years, and
was satisfied that 1t was the only plan by which
of the money market and An elastic currency b.
obtained. He especially desired that the scheme
should be Endorsed by the Legislature Of Virgins
before the bill should be acted upon by Congress
No nation, he said, has ever issued . currency
based upon its own credit and brought itself t.
now finds itself that has been able to get out O
the difficulty without the establishment Of grea
national conservative institution such a. he pro
posed In this excheQuer scheme.
.tHe then gave Q concise review Of the fnancia
history Of the United States, and sketched thu
career Of the first and second United states banks
He depicted the era Of financial prosperity undel
the influence Of the United States banks, and thu
periodical monetary suspensions that have fol
| lowed the dissolution Of It In 1898. England has
suffered in the same way until she established thu
Bank of England. Since then her notes hav'
| been equal In value to gold. So with France
| Austria, Belgium and other European Govern
ments.
"This great national scheme 10 not liable to tn,
objection urged against It In former years-tha
| 1t places too much power In the Government
because now one man at Washington already viz
tually controls nearly all the banks of the coun
sThe people do not value the greenback cur
rency at par: First, because the issue Of 1t wa
unconstitutional, and there is no reason why |
| should be continued ten or twelve years amer tn
termination Of the war that made 1t necessary
second, because there is no provision or promise
| must be based upon other than an irredeemabl
currency before It will be valued ut par. Now
the United States 10 asked to establish grea
national bank, with capital Of tl0o 900 900, Will
sue, the fnfu hankipE and dspsrtmsns q I:
| city, with branches in different States.
ale said all that the friends Of the bill could o.
nrst hspe to accomplish was to induce persons t.
| examine the bill: and whoever had examined Il
carefully had become supporter Of the measure
He did not hope to pass the bill at the present ses
sion Of Congress, but to awaken sufficient in
| terest in It TO induce an investigation Of It,
merits.
"Mr. Jos. R. Anderson then presented ssrie
| Of resolutions indorsing the exchequer scheme
and supported them In an extended speech; at tn,
| conclusion Of which, ON molten Of Mr.. Conually
they were adopted ~ the sense Of the meeting.
AFTER adopting resolution thanking MIR. Flat
for his explanation Of o scheme In which 20 man,
Of those present were interested the meeting I'D
j0urned."