The times. [volume] (Richmond, Va.) 1890-1903, 1891-01-11
PROSPECTS OF RICHMOND
As VIEWED FROM A BUSINESS
STANDPOINT.


the Bankers q. the city General Con
edenee On . Bright Futurs-Cohiem-
plated silver Legislation.
In anticipation Of the early passage Of
the Silver Free Coinage bill by Congress, a
number OF our leading capitalists end
bankers were yesterday interviewed by n
TINES representative as to the present con-
dition Of business In Richmond, the outlook
for the future, and their views az to the
effect OF the contemplated silver logisls-
ton. Their opinions, which will be read
with great interest. were as follows:
Mr.. BRANCH.
Mr.. John 4. Branch. president Of the Mer
chants National Bank: "1hc future never
was brighter than Il 1, to-day in this coun-
try. and there is only one dark spot on the
horizon and that IL evil legislation. What
we want IL that the Legislators shall az
journ and go home. Free coinage Of silver
instead Of helping the people would De Il
great injury 10 them. II would cause the
boarding Of gold aud suspension Of pay
menfs In that metal; in fact, in such an
event gold would cease 10 be "A medium Of
exchange and become commodity, sold
for premium. In regard 70 our own
city, | would say that u never was
In better or more solid financial
condition. don't believe that there b
city OF the same size IN the
United States, whose merchants and nanti-
fActurers are entitled 20 more credit. our
railway and steamship facilities enable oar
manufacturers 10 place their goods at ahs
point In the country at the lowest possible
figures, and any one seeking point Nhttr
the climate IL favorable aud the labor cheap
cannot do better than 10 come here. }
would add that there will be no difficulty
In the near future TO borrow all the money
needful. provided, OF course, the National
Legislature does not pass any act which
shall affect the money market.
Mr.. DAVENPORT.
Mr.. Isaac Davenport, Jr.. president First
Matt, nal Bank: The outlook for the coming
year for Richmond IS very good. Any and
all manufacturing enterprises that may be
started will find plenty Of hackers. II tey
pass the Silver bill its effect will be 10 star
everything on a "bOOm." IL will take a
large quantity of gold out Of circulation,
and while It will be the means Of causing a
speculative spirit, II will end disastrously
90 the country. The majority OF people iu
the United States are debtors and consC-
quentiy any measure which will make
money cheap and plentiful receives their
hearty support. | am opposed 10 ihe
measure on every ground. But for Rich.
mond. think the ensuing year will be one
OF prosperity, and / do not anticipate any
tightness In the money markets.
MIR. MILLER.
Mr.. j. W. Miller, cashier Of Union Bank
can't prophesy about Richmond or any
thing else, but ! don't think the money
market will be any easier until stop is
put to this wild speculation.
MIR. LOCKWOOD.
Mr.. j. W. Lockwood, cashier of National
Bank Of Virginia: Yes. sir; / think money
will be easier, and ! also think that uut
new enterprise in the manufacturing line
will find the necessary financial backing In
Richmond. IL IL had not been for The
financial troubles last year the Vol.
ume OF business done in Richmond
would have been unprecedented, and
Am anticipating for this year an increase
over last year. don't think the Silver bill
will have such terrible effect on the
money market. l: is politicians war, not
the peoples fight, SO long as we have
plenty Of money il don't matter whether II
is gold, silver. or greeubacks. | would, how
ever, like 10 see the silver dollar made equal
In value 10 the gold dollar.
MR.. MONTAGUE.
mIs bOUU H. 1OnidEutf IitNlUtuA Aifi-
chants and Planters Savings Bank: Op,
yes, business is promising, money easy, Ac.
I am no pessimisi; but Mr.. Peytnn, hn
cashier, has given the matter more thought
than i have.
Mr.. PEYToN.
Mr.. Bernard Peyton, cashier Merchants
and Planters Savings Bank: Money Is
rather stringent now. but we anticipate q
more lively condition Of affairs. ! don't
think there will be any "bOOm," but money
will be more plentiful. Don't talk Of BRING
ing more manufacturing industries here IN
oil you get proper banking facilities for
them. As soon as you get that YOU can
hope 20 induce the manufacturer TO come
here. However, think we have much L.
be proud OF, and the end Of the year will,
think, show n marked increase over last
year.
MR.. WALLACE.
Mr.. 5. G. Wallace, cashier Citizens
Bank: RichmOnd's prospect for increase OF
both wealth and manufacturing Industries
In the coming year seems unusually good.
Money i think will gradually regain Us
normal state, and instead of speculative
ventures in wild land schemes the capital
OF our moneyed men will be turned into
moro legitimate channels and into enter
prises Of greater stability.
Mr.. J W. Sinton, cashier City Bank The
prevailing opinion seems ~ be that money
will be much easier little later than it ls
AT present. Taking the past year as guide
20 build my calculations on Che next year
ought 10 be still better), | would say that
the coming year would be one Of increased
prosperity. l don't think, however, that
there is going TO be the great abundance OF
money that some people seem 10 anticipate;
nor do 1 think that the Silver bill. or other
legislation. will affect the money market O.
any great extent.
The president Of the State Bank was out
ofthe city.
MR.. PRICE.
Mr.. William A. Price, cashier secuyii,
Savings Bank: "The prospects for pros
porous year are exceedingly encouraglug
Easy times are anticipated in the nnun0 il
world. What about the effect of lesi-ia-
tion Well, Il seems TO me that nm
limited silver goes with the prOtecuN,
tariff and want TO say that with tan
trade there will be no need for a silver bill
IL our Chamber OfCOmmerce will take more
active steps toward inducing manuiac
turers from abroad 10 settle in Richmond
and TO encourage heme manufacturers al
ready located here, don't think there viii
be any lack Of financial backing.
MR.. oUARLEs.
Mr.. NJ. 5. Quarles, cashier Planters
Bank; Our anticipation for a year of in
creased business and easy money are very
bright.
TWO WILLS FOUND.