Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-01-14
Experts Discuss Currency Question

Experts Discuss Currency Questions
II has been said that if the people were
20 elect a Legislature Of farmers, or me-
chanios, or merchants. the first thing such
a body would have to do would be TO en-
ploy lawyers to draft bills, and that when
ever any bill came up for action the men,
beers of the Legislature would have to con-
suit lawyers as TO whether there were any
constitutional objections TO the bill also
as to the existing condition Of the laws
which it was proposed to amend, and also
as to every legal question that might arise
In the Legislature. In fact, lawyers are
recognized as experts in the law, aud for
that reason il is held that they must be
consulted whenever q legislative body is
about to engage in perfeoting new legisla-
ton or in improving upon old legislation
The present banking-system of this
country owes much of its excellence to the
learned members OF Congress. who, being
lawyers. were qualified to impress their
opinions on other people. A Chief Justice
of the United States whilst Secretary Of
the Treasury, ana before he became Chief
Justice, had hand in perfecting the new
law. A Congress nine tenths of whose
members were lawyers enacted that law.
OF course, many bankers and practical
fnanciers were called into the councils of
the administration Of that day and adj
vsed with as to the various peouliarlties
of the proposed new system and how these
would operate; but still it is true that the
lawyers must have the larger portion of
the credit OF having pushed through Con-
gress the bill establishing the best national
banking system the world has ever seen.
These remarks were naturally suggested
TO us by the fact that at the meeting III
Philadelphia on Thursday last OF the
American Academy of Political and Social
Science the principal papers submitted to
that body on the question OF State banks
Us. national banks we're written not by
bankers or fnanciers by profession. but
by politicians namely HoRAcE WHITE.
editor of the New York Ereasag Post; VII
LIAM l.. TRENHOLM, now of New YORK,
formerly of South Carolina with whom,
BY the way. the DISPATCH once had plea
SAINT little controversy. Hon. Nj. ID. HAIR
TAR. of Ohio, and Hon. A. s. HEPBURN, the
present Comptroller of the Currency.
Which Of these gentlemen would the prac-
teal BANKERS accept as authority IN the
matters they discussed in Philadelphia
what does he know about banking or
finance ?" would be the question of those
self -styied experts who hold that
"who drives fat oxen must himself be fat
And vet 1t Is to such men as those just
named that the country Is TO owe new
banking system If such u system is to re-
suit from paying of the bonds upon which
the present banking system is founded.
Again: The first three gentlemen named
are reported TO be the men whom MIR.
CLEVELAND consults in regard to financial
questions, the national banking system.
&c. &c. MIR. CLEVELAND will hardly eur
render his well-known financial views 10
ench arguments as those gentlemen or any
Others can bring to the support OF the
schemes which they propose. He can DO
trusted 70 oppose any plan OF banking
which would denationalize our paper cur
xency OF debase our coin-currency. Mr..
.dxpruRs. being Comptroller Of the Cur
reney under Mr. HARRisoS, is OF course OF
ono MUD with the latter on these ques-
tons
We have heretofore informed our read
ers as TO Mr.. HAHrER's banking scheme.
IL is much better thsa we had feared it
would be when we first heard that he was
sn advocate OF return TO the wildcat.
rsd-dog" system OF ants-bellum DAYS.
We shall watch with interest the de-
veloAments OF the current meeting OF the
Amsriasn Academy Of Political and Social
seisbe>, hcugh we ase confident that no