The times. [volume] (Richmond, Va.) 1890-1903, 1895-10-18
A CENT A MILE RATE
TO THE ATLANTA EXPOSITION FROM
THE OHIO RTvER IND BETOND.
The National Road Parliament Meets.
Bankers Continue the Discus
sion of the Currency.

ATLANTA, GA, oct. IA committee
/ OF general passenger agents. VINO are
here, announced that a cent-a-mile rate
will begin to Atlanta from the Ohio river
and points beyond. Among the pas
senger traffic men here are II. {. Ward,
| Of the Cincinnati, Hamilton and Dayton.
inc committee came 10 investigate the
charge OF eXtortion. 1ne committee
Will be report that the charges are uI-
founded, and that the Exposition is com,
plote Special excursions tor schooi
points on the Big -Four.
The Daughters OF the American ReVo-
luton neid meeting ~ the woman alI,.s
nuiiuils to-uay. me Nisltins C.aP,S.s
were gwen reception by the Atlanta
Chapter.
1ne National American Womens suf-
frage Association held o conference IN
the Woman's Building to-day Addresses
were made by Miss irginia Clay Clopton,
Of Alabama: Mrs. Rachel Foster Avery,
Helen Gardner, Mrs. Virginia ID. Young,
Of South Carolina, Mrs. William howard
Dubose. OF Georgia, and Mrs Mary Nc
Lendon, OF Georgia.
The National Woman's Christian Tenn
perance Union threaten 10 hold their an
nual convention somewhere else II bull
fights are allowed IN Atlanta.
The National Road Parliament met to-
day. Ex-Governor Fuller. Of Vermont,
was elected president.
so .OGlIoS.
This morning President Collier, Of the
Cotton States Exposition, furnished the
following card about the charges OF eX-
torron and Incomplete condition OF the
Exposition, for the press.
"Cnfounded rumOrs have been circu-
lated 10 the effect that the Cotton states
ana International Exposition Is not COM
plete. | deem II my duty 20 make an
official and authoritative announcement
tnat the Exposition is complete ana ready
for the closest scrutiny. The reports
that extortion is being practiced upon
visitors and charges increased are un-
Reasonable prices are charged in
&C. \. COLLIER. President"
The jury OF awards Of the Cotton States
Exposition met this morning and perfect
ed the assignment OF Juries
The list OF jurors present was Increased
10y the arrival of Mr -. IA. Burnham.
Of Chicago, the architect Of the World )
Tho American Bankers Association
elected officers to-day. j.. II. Pullen OF
New York. was chosen president and X.
+. Lowry, OF Atlanta, was made vice
The features to-day were the speeches
made by W. L. 81. John. OF New York.
and Edward Atkinson, Of Boston.
FBfL-sILyEE BASKEE.
Mr.. st. John made an argument FOR a
double standard and the opening Of the
mlnts again TO silver.
lie is one of the few silver men OF
tho association.
Mr.. ST. John, who is president OF the
Mercantile National Bank, OF New York,
replying to Mr.. Atkinson. said that ac-
cOrding TO Mr.. Atkinson, current antagO-
nisms as TO money are due TO a distinctly
different school OF finance.
MIR. ST. John calls one the speculative
or school of plausibility, and says he is
"a a historical
that lump gold and gold coin are equiya-
lents, as Mr. Atkinson says, but adds
that the reason is the law grants gold
the right of conversion .iIsO coin. He re-
marked on Mr. Atkinson's demand for
the repeal Of the legal-tender law that
II would give courts no power TO enforce
contracts, because they would lack au-
thOrity TO determine what Is money. lie
also said that Holland put the scheme
TO a test by the act Of 1871. and the gold
coins that were without the legal-tender
function would not circulate as money.
tbs OPTION OF ojTNs.
He maintained that Mr.. Atkinson's
charge OF injustice 10 the creditor in
granting the debtor the option OF coins
with which TO pay. and declared that the
debtor. choosing the more abundant gives
value TO II by use and deprived the value
to that extent by lack of use. The opera
ton in many large transactions. said
he, IS 10 reduce the value OF the scarce
while enlarglng the value OF the abun-
dant with a constant attraction of the
two 10 parity as the consequence, and
quoted the experience Of France 10 con-
hrm this practically. lie said that the
market price OF silver relative 10 gold
was kept at about the French mint price,
just as safely when the annual prOduc-
ton OF silver was fifty times the prOduc-
ton of gold as when IL was only six times
the annual production OF gold, and claim
ed TO have answered ShaWs history Of
currency on these points. Mr.. ST. John
said he thought the United States had
a sufficient use for money 10 80 what
France could DO. He referred TO the sub
Ject OF a silver basis in the United States
as a result OF opening the mints TO silver
but said II silver basis ensues II may
enable us 10 duplicate the experience OF
India.
1nGia's foreign commerce. according TO
Mr.. st. John, establishes a credit bal
ance OF trade approaching slsoO0,000 in
year, which pays her gold liabilities OF
Sll,OOJ,COO and draws S55,OO0,Oc0.
THE SUPPLIES OF SILVER ANo GOLD.
The suggested exhaustloss supplies of
silver are 20 he met, he claimed, with a
supposed eXhaustless supply OF gold in
1853 He claimed that the object Of the
Oimetallist Is 10 enlarge the worlds ag-
gregate Of money while the worlds ag-
eregate of everything e,se s. enlarging,
ana said that the tendency OF that VIII |
be- TO provide producers a fair share Of
the wealth which they produce, the re
suit being a tendency in law toward the |
gregation Of wealth
tie declared that the bankers have two |
interests IN this same direction. one OF |
which Is profitable rates of interest on |
money invested in prOductiOn the other |
is such prosperity among producers as |
Will enure 20 the gain Of railways, etc. |
and showing IN paying freights and pas |
senger travel
Mr. 81 John regards this essential TO |
the safety OF the so-called fixed incomes. |
as We'll as 10 the certainty OF the securi- |
ties on which loans are made. lie said |
the parity between Ou4 gold and silver |
money is not preserved by redeeming sill |
yer coin and certificates In gold, but by /
the operation of the legal-tender func- /
tiOn OF the dollar IN view OF our great |
demand for money.
He thinks Independent bimetallism I'm |
the United States would be successful II |
attempted under present conditions. for
cign and domestic, and at the present rate
He offers statistics and experience to
support this view.
PRACTICAL SUGGESTIONS.
Mr.. Atkinson opened the discussion by
reading a paper upon practical sugges-
tons for a reform of the monetary sys-
tenn
The document was in the nature OF a
suggestion for the appointment OF a
or commission to cooperate |
with the executive department of the
government. supplemented by practical
hints for attaining the objects aimed
at.
The speaker said:
IL need not say that unless some way
Is found under existing laws for the
by the Government of what |