Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-08-22
ABOUT MONEY.
TEE FINANCIAL Policy OF TIE PRE-
SENT ADMINISTRATION.
Tie paty Of the oovsrnnsnt-Psrsoaal
Misunderstanding Number Of
Prcrofions.
IF0rn our Regular oorresp0nserti


prom Our Regular oorre<ponserLi
WASHINGTON, August 2l.-Tss
financial policy Of the Administrative
has been more continuously and sue
oessfally criticised than any other.
Only ihe banking class Of the middle
ard eastern States and that portion OF
The community in direct association
with this class sympsthiIs with the
views Of the Secretary Of the Treasury
ard The Treasurer Of the United States.
Since Mr.. Fairchild says that his theory
Of The bond-call and OF the Morrison
surplus resolution is identical with that
Of mr.. Jordan, and that they both
sgrte with heir chief, Mr. Manning.
ne must needs regard the Treasury
roAnsgemtht as IN very truth unit on
the subject. After, iodeed. al the eK-
plsnstjons maze to Congress, AMI since
Congress adjourned to the press. il
would he uDcoDphnentary TO profess
not 10 understand the policy Of the De-
pariment. I've boDd-cAlls. both larger
IN amount ibAn WAS provided FOR IN the
Morrison resolution, which the Rspub-
beans il TIE Senate refused 10 adopt eK-
ctpi in an8iilstsd. tTancltei condition.
10 suit The Treasury policy, aud which
even IL that condition Mr.. Cleveland
decliEed to approve-tUo bond-calls
have been issued, and the authorities
have The grace to tell Us they will DO
20 seAin when they think it is proper
CT Necessary.
The most amusing part Of this thing
s ihst we are gravsly Informed at each
CIll that there has been DO change Of
pOijey-no, indeed. The reasons vhy
i IS rot change Of policy are worthy
u rsrusal even If they are not perfect
" understandable. Mr. Manning did
Dot make the call btcBuss the coadi-
tioDs we're no; IN bis tine favorable.
VI. FAirehid does make the call be-
cause in his tine the conditions are
favorable. See: That is, nov yO1
zee. and now you don't see IT,
us mighty smart explanation
4 one could only grasp it by the
cAo6Al sppendsge. Favorable condi-
iioDs-yes. Silver is now being a.
foibtd, ss are informed, pretty well
The people kinder banker for IL. Bat
oily jer months ago they'd none OF it.
II YOU talk to the Acting Secretary h.
has q great deal to SAY about the danger
% reducing things 70 silver standard
by gong on calling bonds when ;be
people don't want the silver.
SILVER COIN.
BE ssys tia. il tie undesired coin j,
paid out The holder bays property, and
TIE nan who sells the property doe,
Dot care GBy more for the silver thai
tie buyer. and therefore puts on per
cert. say FOR discount on the poo
money. But it Is more likely be vi
put The money on the already e!1ite5
market. This briggs Deprecated clr-
reIcy. The Treasury IS the reservoir.
Sid al the money DO; absorbed BY tbs
PEOPLE and IL business must be he.o
.htTe.
TEE DUTY or TIIB GOVERNMENT
4 Jsckso1ian OF BentoniA1 why"
d ght puzzle the Acting Secretary f.;
II ineligible answer. Some SOFT o. |
N answer be would doubtless give. |
uch as this: Ii is the duty Of The /
10 preserve the nat1ra,
quality between the two metals b. |
citing out either Is it NAY be wanted.
But, in TejoiDder, il would be tn
said that that was just VITA,
i&d not been done. But again the
ictIDg Secretary makes q statement.
Ehtn questioned, which shows 9 pec1-
Jar state Of mind. He says that not only
be condition Of the people At large, but
Re condition OF the Treasury is 70 be
Considered. The people take the silver
AID 10 them freely; but if given a.
2 portunity would they 10; have taken
lorg ago: Why should they rather
ave 3 silver dollar valued at seventy
hIee cents than one valued at ninety
eDis: The calls thus far since the lsi
( July. and including the fifteen nil
.ons called on Thursday, Sno2nt 70
: 100000. As ttsre is 10 limit
1e6, the probability is that tie
sis made during the yeE
III very far exceed the amount
ecessAry for the sinking fond. The
barge that there Is any political reason
" he bond-calls Is Indignantly denied.
rd indeed il is no; likely that politics
ss anything more 10 DO with the mat
y than it has had all Along. To nan
? poplar tTte il seems 70 be cas-
T leaning something and refusing TO
1Dfess The corn.
4 prominent senator said to-day II
isc0ssiDg the seton Of the Treasury
Tie Morrison resolution WAS TO force
le Administration 10 cali for ten NIL
ems Of bends. The Secretary Of the
reGsury calls for fifteen millions. This
lows that the Administration needs
, forcing and understands the situs-
o."
Mr.. George MeCorkls, Of Newton.
. c., WAS to-day appointed chief o
e rsymsster's division OF the Second
Office, Treasury Depart.
ent. II is 3 new Office provided f0r
: TIE legislative bill.
PERSONAL.
Mrs. Fsison and her cousin, Miss
nnie Spruni, Of Southeastern North
Irolipa, are II the city. Mrs. Fsison's
isb4od is q neE sppoi1iee under
7il-seryios rules Of the State Depart
ant. Miss Spruni is sister Of Mr..
mes Sprunt, the British Vice-ConsGl
Wilmington, and also Of Rev. Alex
der Sprus,, vel known at Hampton '
dnsy and Union Theological Semi {
~. The Sprunts are Al influential
oieh family on the lower Cape Fear :
er. The Fsisons are vsl-knoEn !
lilly Of Duplin and Sampson eoua-
5.
Senator Hampton Is ~ Daggsr's '
,ings, having fns tine with the Q
ard line. Ii is said that in those
cAtoriAl exercises be has greatly i'm ,
3yed bis beallh, which WAS not very =
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