The Atlanta constitution. [volume] (Atlanta, Ga.) 1885-19??, 1893-05-09
What He Thinks of Things.

power In PONIES, ana hence his views bear
the weight of close observations and strong
true-principlcd thinking.
what He Thinks of Things.
l found him spread out, as it were, over
p0nderous ledger upon an ample table
in front of him yesterday, and begued
him into talking.
Colonel, what do you think of the so
called panic in New York;"
Il wish it would break every one of the
fellows concerned in the speculative rings
UP there. It is an engineered scheme of
one set Of gamblers to freeze out and clean
our the opposing crowd"
win it have any visible and immediate
effects here in the soutnT
Il 90 not think it will have any effect
upon the business of the south that can
be appreciated. It may affect a few stock
spectators, but they are few and far
between, and generally such small opera
tors, that gain or loss with Them makes
very little difference to the general business
of the south.
What caused the grand and lofty tum-
bling anyhow"
ooh, | think it is simply a panic among
the stock brokers who have it in their pow
er to make or unmake each other by Jug
Cling the market prices of securities. But
at the bottom Of the whole situation and
the thing that makes all such schemes pos
sible is the fact Of the government tam
pcring with the finances of the country.
So long as that is the policy of the republic
it lies in the power of the goldhugS and
money controllers to produce striugencies
aud pauicS at their pleasure"
The Government Should Hands Off
What do you mean by saving that the
government policy is wrong?"
Il mean that the federal government
should hands off from the business of
making money that is diStinctively a
national, or government, money. / do not
believe 1t was the purpose of the fathers
of the republic, nor is it the spirit Of the
constitution, that the general government
should set itself up as the chief banking in
sttutiOn Of the country and farm out the
money privileges of the people to select
corporations. If | read the sacred docrl-
ment according to strict democratic inter
probation, the government ought to have
no more to do with money than to fix the
values of coins and stamp those values
upon the same when run from the official
mint. The remainder Of the money bust
ness of this republic should be left to the
states to regulate under systems of proper
and protective legal restrictions. The idea
of this government controlling the curren-
cy. trying to regulate its volume and GO
ing into the markets to buy money. or the
metals out of which it is to be made, and
swapping its bonds while it is solvent to
get gold TO keep up its alleged standard,
is all the most dismal travesty upon the
popular idea of what this government
should be-"
''You think the result of that temporary
policy will always be to repeat disturbed
financial conditions?"
certainly! Don't you see that they
come as often as the money sharks want
to make Il great sweep of values and scoop
profits. They are the controllers of the
governments basis for money and not the
government itself and hence they can
squeeze the government whenever they see
it straitcned in the treasury and force
bonds. which are their Shackcs by which
they hold any government to their demands.
1t is a plain case of gigantic pawn-broker-
age with the government as the applicant
at the counter"
Repeal the Ten Per Cent. Tax.
CAS- Il measure toward stopping that
state OF affairs. would you favor repeating
the tax on state bank issues?'
II am absolutely in favor of the re-
peal of the 10 per cent tax on the
issues of state banks. The democratic
part declared for that and did right to dc
so. for in that lies the solution of the finan-
reed a local and ample currency in these
sections We can be and ought to be in
dependent of Wall street and the east
But as it is there is a small and wealthy
rogion dominating the finances of the whole
country and that purely by reason of the
wrong financial system of the government
DO YOU think we could get up an alb
solntelv safe state banking system here in
."There could be an absolutely safe and
alternate banking system established IN
Georgia that would give our people all the
relief they could expect from an ample