The times. [volume] (Richmond, Va.) 1890-1903, 1896-10-06
SOMETHING WRoNG, IT'S TRUE.
But Here l. Much Better Relief Tor th'
Farmer Than Free silver.


Ia mer Than Free silver.
Editor Of The Times:
Sir.-"There is something wrong about
my reaper. II is plumb dead. l can't
find ANYTHING broken, and haye carefully
adjusted every nut and bolt on the plagued
machine and still it won't work. There
is something wrong. and 1 believe that
lying dealer sold me a machine that Is
n. r." SO said my uncle. while we were
working with the wheat that needed I'M
mediate cutting. Come" he continued.
"and see II YOU can tell what Is wrong.
Everything appeared in perfect order.
However / noticed th9t he was cutting
exceptionally low. and, on examining the
knife and guards, found them
wedged with black, tenacious
loan that had been packed IN
the fingers little by little, as they had
bean run through small elevations OF dirt.
To get things running in hrst-class or
der wss bur IL small matter, after tina
trouble was discovered.
"There is something wrong, and we
are bound 70 have change. 80 say
tho millions, as they look at the potion
OF the flour barrel, the leg of the last
ham. the landlords dun for unpaid rent,
the little bare feet and last. the empty
nooket-book "Give us a change says
every right-thinking man-if 1t Is not
change from the frylng-pan into the
fire" But let US first examine the ma
chine and find the trouble before We chs
sci and hammer and bend, thereby agra
waiting the difficulty, ana possibly running
the machinery Of government! What's
the matter? Yes. what IS the matter?
Is our money system out Of order? IL
certainly IS,
Are our commercial laws out OF order?
Wrctchedly so,
What is the matter with our money
system. pray2 First and foremost. our
banking system drives the money 10
great centres when it should be held
within convenient reach Of the people,
within the vaults OF numerous weli-s2-
cured small banks I'm small towns, where
small borrowers could get small sums at
small interest on small security 10 trans
act small deals. That would make nlm-
bic money, nimble money makes GOOD
times The cashiers OF these small banks
could readily judge of the security offered
loans, because the pledger would be IN
sight. Now IL is not so. Many coun-
Ties r. Virginia ara without any bank.
How is money TO be loaned successfully
without banks? Experience has taught
MS how to readily avoid wildcat" banks.
Perfect security would DE easy. Give
us more small banks-cal them STATE
banks or what you please.
Would free and unlimited, li 90 I. silver
put more money in circulation? il never
dI In America or any other country.
Eighty years of experience says IL Will
not. Why is fl? Simply because il you
make q certain number Of ounces of sill
yer worth 100 cents II coined into dollars.
gratis 10 the bullion holder. you. at the
same time. make its commercial valne
fully 100 cents. too. OF course, that trou-
bio some If" Is In tho way rs an element
Of doubt and arrangement. However.
If you can make certain ounces Of silver
worth 10 cents in coin, . viii be worth
moro in bullion. or be more desirable in
that shape. because Of much less abra-
sion and greater convenience.
Under any circumstances. there would
have to Do provided a means for getting
close 70 tho borrower.
That the decentralization OF silver, or
adoption OF a single gold standard Will
harm or benefit any interest, is an as
sumption supported by logic more or less
correct. to be decided on as ones judy
mcnt Is warped by prejudice or greed.
England adopted the single gold stand
ard in 1919, when she had but lately
emerged from her almost perpetual wars,
and was overwhelmed with debt 10 con-
tinentai bankers. Since 1919 British la
borers and the great middle class have
advanced in social material. political and
moral standing in a most remarkable de-
gree. In the only long experience mad
by any nation the single gold standard
has proved a great blessing.
on the other hand Mr.. Bryan predicts
a sharp panic followed by great pros
perity. as the result OF free 10 10 l silver
legislation. Senator Teller. the most
searching reasOner OF all silver advocates.
puts the full restoration Of prosperity off
10 twenty years, in case OF a silver vic
tory. The fear Of a panic would almost
certainly produce one. But after all.
II Is mere assumption. But that our
money is congested IS n positive fact.
Free silver or no free silver, there must
be more veins ramifying the body polite
before the financial blood can circulate
The nrst remedy would be 70 clean away
the discriminating laws that have out
lived their usefulness. and now stand
in the way Of much-needed convenience
sound local banks.
There Is q more serious difficulty yet.
Business IS paralized and has been stag
nant for years. not from want OF value
OF money al all, but from want OF conf
dence in ability 70 invest so as 10 not be
robbed by some rece.yership or other
wrecking scheme. or OF being crushed
beneath competition centered and de-
signed TO get competitor out OF the way.
This has been. and still is, a colossal
and frlghtful evil m our commercial sys-
TEN and laws which oyershadows every
thing else in producing stagnation. de-
pressiofi and decline. That evil is the lack
Of law 10 protect small investments. To
combine our small savings with those Of
others In q stock company 10 thus create
q large industry. is 70 see those savings
absorbed" by some schemers. nine times
out Of ten.
For a man to strive ever so hard to
huild 10 an industry from an humble be-
Ginning Is 10 be crowded out OF exist
ance by combined capital, seven times out
OF ten. The best lawyers In the land
ind 70 wholly impossible TO draw a con
tract that will protect an investor in a
stock company. People are afraid 20 try
IN do anything. be II ever so promising.
| T,xnerience has taught that the most
promising venture proves certain loss
| bx vxscking or designing competition.