The times. [volume] (Richmond, Va.) 1890-1903, 1896-12-06

| Just as rank hcrcsy and departure from
| principle as proposition for II TO regn-
| late the recording OF deeds in Richmond
| city.
| when the country was in the midst OF
the war the school which always arises
| in such conditions sprung up and there
was general demand that old principles
should be abandoned. and that the Cow
eminent should take possession Of the
whole domain Of money. currency and
banking. 1t was believed that this would
greatly add 10 its power and resources
for conducting the war. and so the claim
gradually came 10 be allowed, though inc
strongest and the best men In poth ho"SoS
of Congress protested and prophesied al
the evils that would flow out OF TINS raoi-
cal departure from principle sooner OF
later. The fcrocity and fanaticism OF the
was spirit broke down all barriers now
ever. and the new theory was adopted
whereby the general government came 10
usurp thorough and complete control OF
the whole subject that 1t rightfully has
no connection OF any sort whatever wlth'
The theory OF our Constitution, as we
Fave explained it, makes the oiViuihs
line between enlightened Democracy ana
that pestiforous and corroding socialism,
which is the curse Of any people among
whom il finds n Judgment. Enlightened
Democracy expects the individual citizen
to work ont his own destiny IN his own
way. looking to government for nothing
except protection in rights which he has
acquired or Inherited. and yielding TO
government I'm return for this protec-
ton. a part Of his substance that Is in
ratable proportion to what other citizens
vicld. In state Of socialism government
the state in its broadcast sense-is sup
posed to be the owner of all property
and the regulator of all omployments' ana
,hcre is scufle amongst all citizens 10
con who can get possession Of the most OF
what the Government has. Chicahery ana
-r,ud at once become the means by winch
this contest is conducted.
Now the theory upon when the Ma
--onal Eank act rests is the perfection OF
Tho sociaiistic idea. Its basic principle Is
that the Government viii watch over inc
transactions of its citizens with each ON
or and see TO. IT that the smart ones
oo MT out-trade the dull ones and get
advantage OF them. This is socialism,
,rre and simple. and Of the most de-
teytable form. The true theory OIL inc
subject IS TO let the people alone ana let
them make their own contracts ana DAT
Gains ia suit themselves. If shreWd lei
low out-trades a duh one, the dull one
viii have a lesson from it, and be better
nrepared TO take care Of himself the
next time he makes bargain. THIS luea
leaves all men to put out their currency
notes under such restrictions as thelr
state governments may put upon them'
md. under such a theory Of government
banks issuing currency notes grow up IN
each locality according TO the needs and
necessities Of that locality. We saw this
happen I'm this country in the period be-
tween 1857 and 1850. In the first named
year the party that wanted TO force an
intrusion Of the general government into
the currency affairs Of the people died,
and our Constitution, with its forefront
idea that local affairs should be left TO
the locality. was given free rein 10 work
out its appropriate results. What hap
pened? The State banks grew up all over
the land. furnishing every neghborhood
with an abundance Of such currency as
satisfied the people of that neighbOrhood,
and the country prospered as if by magic.
The National Bank act suits CONNER
cial centres and thickly populated regions.
but it utterly destroys the ability Of peo-
pie in sparsely settled regions to make
use of their resources 1t confiscates the
credit OF these. But the credit of a man
worth 81 900 is just as important to him
as the credit of a man worth a million Of
dollars is TO him. The whole idea Of our
institutions is equality Of opportunity 10
all men, and the man with small re-
sources must have the same opportunity
TO make use Of them as the man OF large
resources has to make use Of his. That
idea lies at the bottom Of all that is
worth having in our institutions.
All we need for the restoration Of pros
perity and contentment is for the Gov
eminent TO return to the limits Of our
Constitution, repeal the tax on the issues
OF STATE banks. take IN ana burn up all
Government notes and dispense the gold
reserve. All will then be at once well.