The times. [volume] (Richmond, Va.) 1890-1903, 1895-09-05

The New York Herald Of last Monday
contained a letter from ex-Judge Chas.
=. Latham, of the Hastings Court Of
Lynchburg, now a resident Of Rlch-
,nond. from which we copy the follow
ing to-wit:
..IInder the monometallic system the
few have been enriched at the expense
Of the many. The farming and laboring
elements have suffered most. Generally
where there has been an increase OF
wealth it has been In the cities. while
there has been a falling off in the rural
Districts
This paragraph contains a synopsis of
almost all of the decisions of the Popu-
lists. whether they call themselves Pop
lists or by some other name. It's first
delusion is the idea that the world 5
wealth is now existent, and that the
great business OF life is the securing OF
what has Heretofore been another's.
The Populist never perhaps phrased
his creed in just that language to him
self. but the idea is in the minds of all
Of them. But this is not the business
OF life. There is good deal of scuhlinS
on stock and grain exchanges in which
one party is seeking to trade another
out of something the latter possesses,
but the great business of life is TO add
something by labor to the worlds
present stock of wealth When the Pop
ulst ribs his mind of the dolusion that
the business OF life is a scuGle for the
in ct
ence. and learns that Tie true business
Of life is hard labor 10 produce an adci-
ton TO the stock OF wealth now in ex-
istence. he will have made great pro-
yrcss In what is necessary for him to
understand in order to see that great
quantities Of money are not the thing
that is wanted. but perfect freedom in
the use of credit by which labor may
employ itself usefully and make free In
terchange everywhere Of its porducts
for other products of labor.
1t is not true. therefore. that mono
metallism or any other metallism has
caused farmers or laborers 10 suffer.
Restrictions upon the use of credit placed
on II BY the bank tax have put farm
ers a, great disadvantage and have pre-
vented many industries giving employ
ment 10 iaboring men that wolid have
employed them II those wishing TO set
up industries had had perfect freedom
In the use Of their credit. But the farm
ers and the labcrers would have suf-
fered just the same If there had been
an the circulating money that any Pop
list ever dreamed OF. That is. volumes
OF circulating money will no. and can
not take the place OF freedom
in the use Of credit. The fact
Is that our facilities for immediate COM
muncation with all parts OF the coun-
try enable the money centres to draw
instantly upon all parts OF the country
for all the money that they have. They
VIII draw for great part OF Il II il be
money or paper currency that is ''as
go"d In one part OF the country as IN
another" in spite Of any remonstrance
that may be made. &nd they draw for
II for the use of gamblers and specula-
tors. The stock and grain exchanges
are on one side of the street and the
banks on the other The exchanges
offer the gambler his opportunity and
the banks Offer him the money to gam
bic with. taking the grain or stock that
he purchases as security for the money
they lend him. The theory is automatic.
shsreforA The banks draw the money
fsem The country for the gambler ~