The times. [volume] (Richmond, Va.) 1890-1903, 1894-12-02
AsOrHER LETTER FROM MR.. WISE


In his letter published by us last Tues
day, Mr.. Barton II. Wise intmates that
the opposition TO the United States Gov
eminent contr olling the currency of the
country is part of that natural Jealousy
in the South of an enlargement OF the
powers OF the General Government that
grows out OF the treatment 1t has re-
ceived from that Government since the
war. The same idea is very distinctly
Swallowed in his letter, which we print
elsewhere this morning, replying to cur
article OF last Tuesday.
There is absolutely no ground for i'm
putting any such idea TO The Times.
Whilst The Times is a strict construc-
ZIONIST of the Constitution, it is as broad
In its demands that the General Govern
ment shall be given thorough and com
plete control over those subjects com
mitted to its care by the Constitution as
II is in demanding that 1t shall adhere TO
its limits and not step outside of them
to invade the domains that have been
reserved to the States. Last summer we
demanded emphatically that the Govern
ment should send its regulars to Illinois
TO remove local distractions from high
cause the Constitution commits the regu-
lation of commerce between the States
to Congress. and The Times insists that
this means that Congress may regulate
that commerce effectually. and that all
State or other Instructions must stand
aside before congressional action in the
premises.
But the fight Of The Times and of
those who agree with IL in the present
case Is not so much for a strict con-
struction of the Constitution as for the
preservation OF a sound, and the only
sound financial system for the country.
We are undoubtedly for constituting the
Constitution strictly in all cases and for
adhering rigidly TO the lines Of govern
ment that IL has laid down, because II
is the greatest act Of government that
ever came from the hands of man, en-
bodying in itself all those principles that
the history OF the world has, through the
course OF ages, shown TO be necessary Tor
orderly governments complete system
in itself, and one the people Will be happy
and contented under il II is adhered to,
but are made discontinued and turbulent
whenever it is departed from. We want
10 see IL adhered to strictly, therefore,
at all times, because 1t is perfect IN
strument of government. But we partlc-
ularly wish TO see II adhered TO III It's
design for our financial condition, be-
cause that design Is the perfection OF
finance. When that design Is adhered 10
our finances will always be sound; when
IL is departed from. We will always be IN
trouble. Aud that design is as simple as
Il Is all-powerful. IL is that there shall
be no money in this country but coin
That individuals. corporations and what
not may issue as many Of their prom
issory notes as they please, and any per-
sons who choose may take them, but all
Of them must be payable in coin on de-
mand. That preserves the absolute solid
ity OF the money and currency and that
absolute freedom OF the individual that
government is instituted TO secure. We
want this idea adhered to because 1t is
the idea OF the Constitution. but we
much more want IL adhered to because
Il is the sound financial. and the only
sound financial idea.
In our Tuesdays article We said that
Judge Story dogmatically asserted in his
dissenting opinion in Briscce VS.. The
Bank that the General Government had
the right TO assume control over all the
paper currency OF the country, but that
he had cited no sort of authority for the
assertion. Mr.. Wise says in his letter of
to-day that Judge Story could have given
good reasons for his assertion. and that
ne did give them in his work on the
Constitution. Mr.. Wise accordingly quotes
those reasons. which turn out 10 be an
argument made in the Senate In 1882 by
Mr.. Webster But we must point out to
Mr.. Wise that there is not one word In
what he quotes that even hints at the
Government having the right TO control
the country's currency. II is all address
ed to the proposition that the States
have no right under the Constitution 10
charter banks of Issue. 1t might very
we'll be that the General Government
had no right to issue currency, and
that the States had no right TO charter
banks Of issue. also. and still the Gen.
ersl Government be without any right Of
control over currency. In that case the
clrculstjon would b coin snd checks.