Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-01-11

New York 5 View of state Banks.
The Democrats OF New York city and
State are Law unto themselves. Tt.v
Halter themselves that they know rora
about financial matters than DO tho moo
gle of an tho rest az tire country taken
together Whether yol agree with these
sharp-siehtod Now Workers or not. n ie
Wei % know what They teach I'm regard
10 those matters over which they b.v.
proved hy their past success in treatire
them that they have great deal Of
influence.
ON the SIN instant the Business-Men's
Democratic Association Of New YORK CITY
had thei, annual dinner in honor Of Jack
son's-bay, or the victory gained over the
British January s. lN5. at New Orleans.
Al this Democratic meeting and dinner
many speeches were made by distin-
guishei Democrats. but nobody else made
so notable AN EFFORT as di1 Congressman
Eayner. Of Maryland. whose subject was
"Sound Money" ana who drew power
M picture of what dire disasters would
follow the dcbas.mcnt and denau1nAIiza-
lion q the present currency. Mr.. Eayuer
Is the most distinguished of the Mary
land members If the national House Of
Representatives. So far as we know, no
body present al the Disbursements DINNER
above named differed with Mr. Rayrcr
on the subject which ne treated. Ills
speech must have carried conviction with
It. We accept that speech and the re-
ception 1t net with at the hands Of
the businessmen OF the Empire cry as
satisfactory proof that the friends OF
sound money" viii rally t. the support
Of the administration in its efforts %
preserve for this country the best cur
rency the world ever saw. Head Ar.
Rayner's scorching words.
'"rhc charge that those Of us who be-
lieve in sound and honorable money ar,
DESTROYS 90 contracting the currency az
the great financial centres originates Trin-
cipally from the fact that large number
OF US are opposed 10 "a reorganization OF
the State banks and the right OF forty
four different States TO Hood this coun.
try with their worthless money. In my
opinion, such system would no sooner
40 into operation than there would close
IN upon US night Of financial anarchy
that would witness the wreck and con
vuleion OF the whole fabric Of Our institu-
lions
From the point Of view Of the peoples
welfare. l can conceive Of nothing worse
than the mutilation OF a currency
that Is honest, that IS absolutely re-
moved from peril. and the substitution
OF currency that VIII be reluctantly
accepted In every counting room; that
Will become the plaything OF every
speculator; that viii rise and IAN
with the feYcrish quotations Of the stock
market. that by the Constitution IS not a
legal tender; that carries upon It's face
the emblem and the remembrance OF
bankruptcy, that the further IL travels
the lower II falls and the worse II be-
comes, until. buffeted and rejected from
place 10 place. u finally returns to the
forsaken vaults from which fl sprang ana
completes the circuit of It's Reputation.
In the contest between honest and dis
honest money IN the silver legislation We
were saved from absolute ruin and bank
r1iptcy by the fearless courage OF PTesi-
dent Cleveland: and let me say to you IN
conclusion that ! have no fear that any
measure for the depreciation Of
our coin or currency Will ever becom. the
policy OF the republic. ] have too much
confidence IN the patriotism OF our peO-
pie"
Nothing can be added 10 that picture. |
4 is perfect. and bespeaks hard study on |
no part Of Mr. Rayner. We would fam |
nope that he represents President C'eve-
and when he thus discourses upon
financial question.