The times. [volume] (Richmond, Va.) 1890-1903, 1895-01-23
MIR. j. S. MOORE RE URNS TO THE
ATTACK.

MIR. j 8. Moore returns this morning 10
the assault upon a State bank currency,
and his letter will be found elsewhere Ia
The Times.
We don't see that Mr.. Moore has adj
vancct any new argument against such
a currency. but he has collected together
in brief space about all that has been
alleged against it, and that all, when
boiled down TO its ultimate residuum is
the affirmation that a State bank curren-
cy will be at a discount outside OF the
state in which il is issued. Those who
want liberty to issue their own state
bank notes to perform the functions OF
making easy and convenient transfers
of credits In their own neighborhoods
freely concede that this may be true. But
say they, they are perfectly Indifferent
to that contingency. The Virginians who
issue these notes at Lyn:hburg do not
issue them to help the people OF Mary
hand in their business aHalrs. 1ney
issue them for the convenience OF the
people of Lynchburg and the surrounding
country, and they expect Marylanders,
If the notes stray over there TO send
them back here at once for redemption
in gold coin. which they think most I'M
portant as a measure for keeping them
ever vigilant and prepared with sufil-
cient amount of coin in their vaults TO
meet every sudden demand that may be
made upon them. If the notes serve the
purposes Of the people Of Lynchburg ana
the surrounding country as an easy and
convenient method Of passing GREATS
from hand to hand. those people care
nothing at all about the fact that Mary
landers or New Workers distrust them.
They are not designed for their use. Ihey
are for the Uses of the people around
Lynchburg.
Mr.. Moore says: mo one wants note
liz his pocket unless it is good anywhere
and everywhere"
If Mr.. Moore viii think, he Will be COM
PEELED TO admit that this IS most reck-
less statement. Even he, We think We FISK
nothing in saying. wants national bank
notes and United States Treasury notes
in his pocket, and yet they are absolutely
worthless in the interior of China. An
innkeeper there will not give MIR. Moore
a dish OF fried rats for a hatful OF them.
The present writer was caught at the
Ascot races once. within fifteen miles
OF London. with no English money, but
with twenty-dollar American gold piece
In his pocket. But the ticket-selIer would
not take It from him at any price. For
all he knew Il might have been gold
brick" If Mr.. Moore should happen TO
land anywhere in England or France
or Germany. or in any other OF
the civilized countries OF the globe.
with his pockets :ull OF green
backs and national bank notes, he
would find that he could make no use OF
them at ALL until he met with a man
who dealt in money, and then he would
have to sell them for the money OF that
country at considerable discount. But
would this discount in any way
interfere with the ability Of these notes
TO perform every function that the Amer
lean people needed from them? What is
the difference in principle between this
case and the case OF a note circularrns
freely in Virginia, but at a discount in
Maryland. MIR. Moore viii see, therefore,
that men want notes in their pockets.
even II they are not good anywhere ex-
cept In the locality where they are issued.
If they are good there, they serve all
the purposes which paper currency can
properly subserve. according 10 its nature
and attributes. Mr.. Moore seems 10 nave
abandoned his original position that we
pay for what we buy In New York with
money. Let him ponder on the arguments
that drove him from that position, and ne
will see that those same exchanges of
commodities that get for us what we
nominally buy In New York. demand To-
cal convenionces for efrecting local ex-
changes. and then his mind Will open
TO the true nature OF that blessed princi'
pie which would, II the act OF Congress
were out Of the way. allow all men 10 get
all the credit at all times that their re-
sources and character entitle them 10,
which can never be the case while re.