Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1893-06-30
The President and State-Bank Notes.


The Cincinnati Commercial SAYS:
"But the Il. srlTcu does not believe tho Presi-
dent is In favor q tho repeal Of the proAibitory
tax on Sia;ebank issues
No. we do not. though we concede that
his persistent silence upon the subject
might indicate that he has heretofore had
Obut not now doubts rs to whether 1t
would or would not be good policy TO try
10 effect q compromise between the silver
ties and the State bank advocates. The
Coun,rrcai. or rather Mr.. HMsTTAD, aids
the following statement. which Is one of
those coming from hun which we have re-
fsrrel 20 heretofore as indicating that he
Knows more thsn anybody else knows,
md more than he can prove 20 be true, as
70 Alr. CLryEILSD's intentions and opin-
IONS on the question involved. We quote
a. follows:
ave have been informed that IN tho nrsi
draft II Clevolani's letter Of acceptance Of tho
Chicago nomination he placed great emphasis
upon ihe repeal Of tho tax on bank Issues aud
regarded ihai az the great financial medication
for the country, dspcsing ct once OF the green
hackers nId silver advocates, for there would
bo an abundance OF currency II the state banks
Wer, set free 60 supply It. IL took all that Whit
Coy auI others could do 10 prevent this theory
from being boldly thrust into the letter. and
phrase remained IN the letter about state cur
irncy showing Cleveland never got IL out Of his
head
II this statement had been true IL could
not have been kept from the public 80
long. 1t does not consist with Mr.. CLEyE-
lANp's wer-known financial views, nor
command the support OF tho men whose
advice he seeks when he wishes to consult
anybody on monetary questions. Mr..
HiLsrEAp's story admits that ex-Secretaiy
WHITNEY and others persuaded Mr.. CLEyE-
LAND not to put such declaration III his
letter of acceptance of the Democratic
nomination for President OF tho United
States. And as ex-Secreta-y WHITNEY
goes, so goes President CLEVELAND.
Again: Tho news from India has put
new phase upon the silver problem.
There is nothing lett to call for a compro-
mise. Mr., CLEVELAND might possibly
have considered a week ago that II would
De iustifable or allowable in hun to agree
10 recommend tho chartering of State
banks OH condition that the advocates OF
the free coinage Of silver would abandon
this scheme; hut he could not possibly be
Of that opinion now. There IL. We repeat,
nothing left upon which to base a compro-
,nise. There is no longer any pOsS'h lity
ot tbs free coinage Of silver. The action
Of the India government has taken from
the silver problem much OF the import
nnce that 1t had, and we cannot imagine
that anybody will hereafter expect the
United States Government 10 lend its aid
80 any scheme for trying 10 carry upon
its shoulders a burthen of silver which Is
enough 10 tax the strength of all the com
inercisl nations Of the world acting to-
Cether. The utmost that our government
could now do would be to reconvene the
Brussels International Bimetallic Con-
ference and let that body agree upon
coinage ratio us between gold and silver
20 10 /. or so to /. will make no difference,
now that silver promises soon TO cease 10
be anything but "a commodity and silver
coins threaten to be nothing but token
coins. Gold COINS smaller than two dol
lars and a half are two small for general
Use. gold dollar is e nuisance. Silver,
therefore. will still have 10 be used 10
make these token coins. Certainly gold
coins to contain less than 70 $40 grains
would not be tolerated by the general pub
JIG. Let the Brussels conference add this
to the good work which it has already
done.