The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-03-02

y,r,,o,.yr.--On saturday night
N",'> y PLAT addressed large mum.
I,on. ., IN, ,,,.,i.r. Of the Legislature ana
~ 81 - I.,...r> in the ball Of the House
WoH,'N". ~ r,rhnasiou Of the scheme for
t,'l .,,,,r, 70 credit for originality III tins
u, 'mt had simply brought 10 ita rough
r,,.., ,,,.siacs. y1pcrcRcc Of fifteen years,
-. .,... satisfied that il was the only plan
%A'' '5',. ,Lr country could be relieved from
!, .-,,,,.rc, Of the money market and an
J.. .,-r.rry hc obtained. He especially
e., 60 ,l,,. thr scheme should he endorsed
GN'"," G.1.' legislature Of Virginia before the
-. :, III Gc ar:c,i upon by Congress.
- '....:,,. he said. has ever issued cur
|''.slrpan is own credit and brought
';,, rrc tfnqucial condition in which tue
,.r,,cd >,a:cs no.r finds itsen that mas oern
w.. -. on. Of the difficulty without the
Establishment of 4 Srta; national conServa'
49,, ,r,,.;u',on such as he proposed III this
.x,Nfs,g. scheme.
NJ. -. ,e,n gave a concise review Of the
s-.r.s,' history Of the United states, ana
''Ir,.,,,rI the career Of the first and second
r"...6 >..ites Banks. the increase Of state
,',',. ND me crash Of 1887. lie depicted
.,'' sr', nj financial prosperity under the in
s..,c. oc the United States Banks. and the
,.r;,l;rg, .Dsnetarr suspensions that have
..T,,ya.i II. .!.so!ution Of it lin 1886. Eng
r,.s had sua; red il the same way until she
"S,.l;N.h,d The Bank OF England. Since
,,.,, har notes have been equal in value to
rtJ, :, With France. Austria, Belgium,
,,i o,hrr European Governments.
MS real national scheme is not liable to
,Nn n,fIr.jon urged against it III former
ysa~,-.ha, it places too much power in the
t,yr-,iarnt- --Hcclu>e now one man ut " ash
in,,.n already virtually controls nearly sill
J." hanks Of sns country. ;,
rh. ueopc do not value the grecnback
currency a, par. First, because the issue OF
:. w,. Unconstitutional, and there is no rca-
81, ,yfy !, should be continued ten or twelve
yaar. alter the termination Of the war that
rp,,ir i necessary. Second, because there Is
M provision or promise upon its face, for Its
rn,rmp,ion, Our currency must be based
r,non other than an irredeemahle currency
ls,farc il will bt valued st par. Now. the
f-pj;cd states il asked 10 establish great
national bank with q capital Of 100000, 900,
win lcpartnent Of banking and 4 depart
MEN. Of issue. the chief sank TO be located
a Nry York city, with branches in differ
sut states. ,,
lie said all that The friends Of the bill
could a first hope TO accomplish was to in
ducr prf>ou> 10 examine the bill and Who
ever Ind Examined il carefully had become
a SUPPORTER Of the measure. he did not
hog" to pas, the bill at the present session OF
Congress. but 10 awaken sufficient interest
in il 10 induce an investigation Of its merits.
AZ lii" conclusion of Mr. Pl!tt'S speech,
Senator Connsly said: 81 am in favor of an
ia,,.tution Ike the Bank Of England. Now,
wi4t j. the difference between your project
ana tAaI:i
Mr. Plat: Well. they are rs near alike as
tie difference in the character Of the two
Governments will permit. There the Govern
plrnt la more direct influence than would
h. lo>>ib,ciu our country. We propose TO
make the uniform maximum rate Of lntcre t
4: >ix pr- clntum, while the Bank Of Eng
hand raises iii" rae sometimes much higher
than that. G;>jdts that, there are other
I4H.: differences.
Ng. Joseph Il. Anderson then presented
a>rs..> Of resolutions endorsing the cNche-
f@~r a"nc ard supported them in an eX-
ta',a ,iccch; al lIv conclusion Of which,
On motion oi AlT. Cuunallr. they Were
au ul.a,U IL tie sr..Sc OF tn" meeting.
Ate. au,IiiDg resolution thanking Mr
pNI tor i.- explanation of a scheme in
Which uIIuy @! those presen. were inter.
t,!yd III" GlCetllG adjourned.