Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-02-04
A ACKNOWLEDGEMENTS ENDORSEMENT
Enthusiastic Approval Of the Plan-Bs-
lieves 5000, 900. 900 Could Be Placed.

.
lieves 5000. OO0. 900 Could Be Placed.
A Richmond special to the New Yorh
| Herald says: When I saw John p
| Branch, president OF the Merchants Ma
tional Bank. in his Office to-day. found
| him In ar animated discussion with
another capitalist over the very question
| about which I called to interview him
He said: what does the Herald want
now? / telegraphed It yesterday that
| would take $4,000 worth OF its popuIar
loan bonds. did that simply to show
my confidence In the move, ard l took
no risk In doing so. i think that $780,
| 10000 OF these bonds could be placed in
this country inside OF sixty days wlthou,
| trouble. ard no amount less than tina,
| should be offered. This would satisfy the
world that we intend to pay gold for
obligations. both public and private
| feel very deep interest In the popular
loan advocated by the Herald, and ! am
willing TO work for nothing to make II
success. as believe II undoubtedly will
be. We Speaking for his bank) will take
the bonds In large blocks and distribute
them without any profit, commission, or
charge whatsoever In the manner as out
lined IN the Herald. and we will take
In payment whatever United States cur
rcncy may he offered. even unto sill
YER which Is the most Objectionable cur
rency that we have. In other words.
have perfect confidence in the results OF
the plan, and II carried out the relief
for which we all pray will have arrived.
1t Is a shame that members of the United
States Senate and House OF Representa-
tives should throw obstacles In the way
of the issue Of the per cent. loan. when
1t has been forced on Secretary Carlisle,
because they would do nothing in regard
TO your popular loan.
II did not take any OF the per cent.
bonds because I have been holding my
funds for the purchase and distribution
Of the popular-loan bonds. believing, under
the attitude OF our lawmakers. that they
are the solution Of the matter. i am for
Mr.. Carlisle and believe in his policy and
in his judgment. l have believed for a
long time that our lawmakers are work
ing for the purpose of instituting free
silver and the consequent suspension Of
gold payments To do so will place our
country as a third-ratc power. instead Of
at the top Of the ladder. as far as credit
IS concerned. the place she has heretofore
occupied
IF the Democratic party, who now con-
troll the government, do not intend TO
manage the affairs OF the country as they
should. tha sooner they step down and
out the better. for they will not be re-
turned to office as long as they continue
the present policy"
Here the banker hesitated, and started
TO withdraw the remark as being too
severe coming from a Democrat, but he
remarked that 1t was the truth. and that
as truth was always wholesome he would
let It go.
George T.. Peter, a prominent capitalist,
and a director in the First National
Bank. endorsed the plan. Such thing
should have been done long ago." he
said. Had 1t beeV done Immediately
after President Cleveland's Inauguration
1t would have averted the present financial
panic. Now, though l think II is almost
too late TO be OF material service to
the country. as the panic Is about over,
but It would greatly benefit small inte-
rests"
Max. Halle. Of Roth & Halle. distlllers.
said "The Herald's plan would help the
banks greatly. They have all plenty Of
money, but the putting into effect o. the
plan outlined by the Herald would make
business on commercial paper better The
trouble In the South IS that the mer-
chants are not doing business with the
banks, and are, therefore, doing only a
small business. conining 1t strictly TO
cash transactions" -