Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-08-12
Richmond Banks.

The certifed-chock system adopted by
the Richmond Clearing House Associa-
tion on Thursday was put into force yes
terdsy and worked we'll.
That II imposed hardships upon not
few employers and employees ia certain,
but these feeling that they were suffering
for the general good murmured little.
To-day, thousands Of our mechanics and
laborers will receive their pay IN certified
checks or scrip. and will not complain.
well knowing that currency is not to be
had at all, except at e premium, and then
only in small amounts.
Merchants without exception so far as
we can learn will receive these evidences
of Indebtedness as cash, and will neither
subject them to discount nor increase the
prices of the goods sold therefor.
This is a time of public distress when
every true-hoarted man will rejoice TO be
able TO be Of assistance to his fellows The
narrow, selfish. Grasping man is out of
place IN a heroic community like Rich
mond at time such as this is. II we all
stand shoulder to shoulder as we are GO
ing 10 do-the certified checks will serve
us almost as well Is currency. With them
we can pay notes in bank. house rent. gro
Gerry bills, &c, &c. The banks will doubt
less be able to furnish currency for the
very few necessities of business and house
hold life which cannot be obtained with
certified checks or frst-class scrip issued
by manufacturers.
That the banks are without currency is
- ~ nf ~ lao 10 mi NJ fhOgA
depositors who have drained the bank
vaults of gold coin and paper money. To
have allowed continuance of this drain
would have been a monstrous injustice to
Those business men who made 1t n point OF
honor, in gratitude for fsvors heretofore
done them by the banks. to keep mp their
deposits. and who drew nothing out,
except from sheer necessity. Now oil
depositors are on the same footing. Mil
honaires yesterday found 1t Just as diff
cult as other people to get currency.
They will have 10 use certified checks or
scrip 10 pay their hands. And so will the
lcity of Richmond. Unhappily tobacco
stamps can only be bought for currency,
but we hope for some ruling from Wash
sington to Tighten this hardship.
We may we'll rejoice that our Clearing
House had the pluck and sagacity TO act as
they DID and when they did. Ii will pre-
vent bank suspensions here and lshve US
Hound aud safe as q business community
shenthe present furry Is over. Let us
all support them by encouraging words
and unselfsh deeds. and by frowning
down any heartless person who seizes this
opportunity TO fatten upon the necessities
of the poor
Times will soon be better. Congress
will act before long. The House of Repre-
sentatives yesterday entered upon the dis
cussion Of the repeal of the silver ur-
chase law and agreed to bring 1t to a con-
-clusion on August 2Sth. Mem bers are eau
cusing and "coutriying" day and night
with the purpose of framing suitable CON-
promise measures. and such is the will that
the way will certainly be found. Popular
pressure for prompt action is SO great that
twill prove irresistible. Meanwhile, let US
60 along about our business and take and
give certified checks just as if they were
money For nearly all purposes they are
money.
The expedient wo are now trying served
US very satisfactorily in 1878 and we have
no doubt that 1t will tide us over present
difficulties very nicely.
There was a marked improvement In
Wall street yesterday. The market was
strong and vigorous and prices were up
ward and all good securities in demand.
Furthermore. Mr.. CARLISLE and his SUBJ
ordinates conferred together yesterday
afternoon with the view of devising
plan for relieving the currency famine, or
"ourrency corner" as some call it. Ii
would seem to be in the power OF the gov
eminent to come to the help of the people
and il should strain point to doso.- Thatit
Will do what il con the public are promised.
Several schemes to accomplish this end
have been advanced. No doubt Mr.. Car
IIsLE will feol empowered to act in the
matter whilst Mr. CLEVELAND is absent
from the capital for a rest. which his ply
sicisn insists that he should take.
The government broke the gold cor
ner" in 1869 (Black-Fridag panio) and
ought to be able to throw the weight
of its mighty influence against the eur
fency cornerO of to-day