Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-06-11
Mr.. Lewis II. Blair-Aga!n.

Mr.. BLAIR's little pamphlet. which we
noticed at some length last week. was on
"the STANDARD Of value" The letter from
him which we publish this morning seems
to us to be anything else than discussion
of the subjects treated IN that little book.
In fact. we might with good reason omit
TO comment upon the letter before US upon
the ground that 1t fails to sustain or sup
port the contentious Of the pamphlet.
First of oil, let us say that We have too
high q respect for Mr. BLAIR to employ
any language that would DO Objectionable
| 10 him. We recognize him az foemsn
worthy of the steel" OF anybody.
When we sad that managing money
was not the citizens "own affair" but the
public's, We had reference particularly to
tina. clause of the Federal Constitution
which provides in so many words that
Congress shall have power TO coin
money. regulate the value thereof. and OF
foreign coins" These three things MIR.
BLAIs would have the citizen do for him
| self. Think Of the proposition. The ave-
rage citizen coming money in manner ana
| form to suit himself. and then REQUESTING
the value Of tho CONS TO suit h,mseif, and
finally regulating the value of foreign
emps TO suit himself. Can Mr.. BLAIH be
in esrnes. in such q contention III NOS
emphatieally the duty OF Congress to 40
these three things? And would 1t not
have been the duty of that body to do
them even if the Constitution had been
silent upon the subjects Thsis kind on
paterualism that every commercial nation
must countenance. Horace GEEELEH's
proposition TO swap his genuine wildcat
currency for counterfetts upon gooo
banks would not seem altogether unnatu-
ral under such O condition OF the finances
of this country and Of the world as wouid
result from allowing every man to be his
own coiner and bsnker.
A standard of values is just as reasonable
as Q standard of weights, or q standard OF
measures. Nay, II is Indispensable. And
1t would be just a. wise tor tho govern
ment to permit every man to make MS
own weights aud measures "a TO permit
him TO make his own coins. Ii Jones has
a natural right TO coin his own money he
has natural right to make fifty pounds
of wheat equal to Il bushel, or to sell thirty
inches Of cloth for yard.
Mr.. BLAIR is old enough to recollect
when the country was always flooded with
counterfeit notes and notes on broken
banks and notes on independent banks.
To travel from Virginia to Maryland was
to do what required you to procure cur
rency not made in Virginia. Bank-Note
Reporters and Counterfeit Dctectors con-
sttuted a part oil every busIness-man's
financial stock or tools Of trade. we
should have still worse system Of bank
ING if every man were allowed to establish
bis own bank. There would be no place
for a clearinghouse in Mr. BLAis's system.
Tom. Dick, and Harry would not be recog-
nized in that system. 1t was the careful
provision which Congress has made for the
protection of the note-holders and the
control of all the national banks that made
clearing houses possible. eve do not for
get that there are clearinghouse even in
Japan
But enough. The subject ia an interest
| ing one to US. but We cannot devote Any
| more space TO it iusrnow.