The times. [volume] (Richmond, Va.) 1890-1903, 1895-01-02
A LESSON FROM BABEL.

1The popular demand is for uniform
currency, good In all parts OF the Onlteo
skates. So far as this kind Of paper cur
rency is concerned. The Times is opposed
to IT, IL wants to see a paper currency
that is at par with gold in the locality
where i: Is issued by reason Of the fact
that il is payable on demand in sold'
h,,t, il wants 10 sec that currency re-
turned homc, WREN it strays out of the
State where il is issued. SO that it will
come back 10 its place of issue to go
through the refreshing process of re-
demption. and to serve the purposes OF
the people Of the locality that issues it.
The Times wants TO see a uniform
coined money for every part OF the
United States. II wants 20 see one gold
dollar for Virginia, Maine, Texas and all
i. the other States. and one silver dollar
wsrth at the bullion dealers. as much as
the gold dollar--if such a parity is possible
which we doubt-for every state, hut IL
chen wants each State to have its own
bank paper currency issued under the
regulations which that state may pre-
scribe. and il that currency comes speed
ing back to that State every time II
goes out OF it, so much the better, say
we.
We have two entirely sufficient reasons
for this. The first is that if the paper cur
rency is a national currency as good In
one State as il Is in another. the money
centres will just as certainly draw 1t all
TO themselves and leave the rest of the
country denuded as that the maelstrom
will suck the boat into its vortex that
comes within its influence. The result
is that the wealthy men at the money
Hntres control all the paper currency
and use ii 20 as TO make themselves
richer and richer. while the great body of
the people are left starving from a cur
rency canine. Look at the condition Of
the national banks of New York to-day.
They have in their vaults a sum of money
equal to Is per cent of their notes and
deposits, and in addition TO this. the
great sum of S3i.0O00oO. Money lends on
the street i'm New York on cali for IL
per cent per annum. while il can hardly
the country This is the first effect of a
national uniform currency as good in one
quarter of the Union as in another If
virginia's paper currency were her own
bank notes this would not happen The
New York banks would not keep them
in stock, so mat there would always be
plenty of them in Virginia TO serve the
needs Of her people. We should have a
plenty of paper currency instead of all
of IL being sucked to New York for the
s,eculailons of gamblers in stocks and
farm produce.
Our second objection to a national
uniform currency is that II tends TO cen
Trailing the Government. to making all
the people of the country a uniform, hom-
oSenous people. and thereby 1t tends 10 the
cultivation OF that horrible socalistic
principle which makes the citizen aim at
living on his Government instead Of striv-
ing to earn his own living and support
his Government. too.
We don't want TO see the people Of this
vast country a homogeneous people. We
want TO see them homogeneous in loving
the United States OF America as their
country. and we want 10 see them homo
geneous In respect 10 those few national
matters which our Constitution has
placed under the care and control OF the
Constitution OF the United States. But
we want 10 see them as distinct in their
personal characteristics as each locality
tends 10 make it's child. We want TO see
In Maine the man which her ice fields.
barren granite hills and pine forests
tend TO make. but we equally want 10
see In Texas the man which her prairies
and cotton fields tend To make.
a natiorai uniform paper currency con-
meets the Texan and the citizen of Maine
with the Treasury at Washington. and
tends towards fuslng the two into
the same lay figure or dummy OF
citizen. a local Texas currency connects
the Texan with his local Institutions only.
and saves him from those centralIzing in
nuences that would wear on his individ-
uaIity, and take the Texas manhood out
OF him. The true harmony for the popu-
lstion of an immense area like ours Is
fhst hsSxaSzny which results from the