Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1895-01-03
THURSDAY. F. JANUARY 8. 1895.
The Republican Programme.

The Republicans are Keeping sharp
watch upon the Democrats In Congress.
in the hope OF detecting them in some
act calculated to undermine the credit OF
the National Government. The New York
Tribune speaks no doubt for the Repuoli-
cans generally when II charges. as 1t
does. that this Democratic Congress has
made for the country more trouble than
any other Congress for atty years. That
paper prescribes popular loan as
remedy for the monetary Ills Of the coun-
try, and calls upon the Democratic Con-
gress to inform the financial world that
that body will not attempt to revoiu-
tionize the banking system this year, nor
attempt TO authorize wildcat banking.
"You cannot pass the State-bank bill this
year" says the Republican oracle.
These things indicate that the substi-
tute for the Carlisle bill will be fought to
the bitter end by the Republicans. The
Language we have quoted Is evidence that
the Republicans will defeat that bill by
hook or by crook-that is. IL they can.
What sort of popular loan does the Tri-
financial relief to the country? Here Is
that papers own language:
"a popular loan requires bonds OF small
denominations. bearing low rate OF IN
terest, and re6eemable In gold or currency
ct as many government offices as possloie'
whenever the holder desires. 1t ought 10
be so arranged that the people couId use
the government loan instead OF savings
banks. knowing that at any moment
with the least possible delay or difficulty,
they can get back their money by sur
rendering their bonds at any Sub-Irea-
sury, or possibly at any post-ofiice ii II
is practicable, Ii would be great benent
70 the people TO make any post-ofiice IN
the country a government agency Tor re-
CENT of money and Issue or bonds, ana
also for redemption OF bonds at any time'
perhaps within a few days notice. such
provisions would enable all the people
who have small savings TO sustain the
credit OF the go.rrnment and the pros
perity of the c.. ~. by lending their
savings TO the icasury. knowing that
they can draw all the time moderate
interest on their money. and can get back
the principal whenever they please.
II IL evident that the Tribune considers
the State-bank system a poor substitute
poets TO make party capital out OF the
pledge of the last Democratic National
Convention to repeal the law taxing the
circulating notes of State banks, for
though the present House of Representa-
tiyes Is Democratic by an overwhelming
majority. Il failed to abolish that tax.
The Tribune asks the Democrats 10
give to the public the assurance that they
will not abolish the banking system THIS
year. This ought not to be party ques-
ton. and we do not know that the two
houses OF Congress can be induced 10
divide By party lines on this question.
There are Democrats innumeiab'e who
are In favor OF continuing the existing
national-bank system; and there are not
q few Republicans who advocate a Gf-
ferent policy. Anything to beat the
Democrats" Is the rule upon which the
Republican leaders will act. The Tri-
bune's attempt to induce the Republicans
70 align themselves with the New York
and New England fnanciers may prove
to be unsuccessful.
Anyhow, II behooves the Democrats 10
be as wise as serpents. 1t is knotty
problem which they will have to solve
between now and The 4th of March, and
what we have quoted from the Tribune
indicates the lines upon which the Re-
pub,icans will so into the banking and
currency battle In the present as well as
In the next Congress.
We do not think that the Tribune's
loan project has strength enough TO oc-
casion apprehension in the minds OF the
Democrats. Certainly the people are just
now not in the humor for calling upon
Congress or the President 10 make any
more loans Ike the last two which Mr..
Carlisle found IL necessary to resort TO.
The pitcher gets broken that goes to the
well once too often. The Secretary OF
the Treasury gets into inextricable diff
ficultses who makes one loan too much.
weswarn Republic ms as well as Demo-
Gratis that danger lies In that direction.
The circumstances OF the present mo-
ment do not Indicate that the masses Of
the people have any money TO lend out
at 2iz OF g. per cent. The rate per
cent. proposed by the men who agree
with the Tribune Is a rate such as only
capitalists large capitalists--can be ex-
pected to find satisfactory.