The times. [volume] (Richmond, Va.) 1890-1903, 1896-12-20
Mr.. ROYALS ARGUMENT,
He Appears Before The Banking and
Currency Committee
ADVOCATES LlBERALITY IN BANKING,
state BanksafI,suet tho sfost Permanent
and Satisfactory Solution Of the finan-
oial Question-Co Committee Indebted
20 Him for Helpful Information.

WASHINGTON. D. c.. Dec. i9.-special.
Mr.. william l. Royal Of Richmond.
" IS before the House Banking and Cur
rency Committee this morning to uago
that some legislation be framed, which
VIII liboralize banking. especially ln The
Southern states.
Much That was said by Mr.. Royal
was in the nature Of a private conversation
with members Of the committee, the hear
Ing being largely informal.
PLEA FOR STATE BANKS.
Mr.. Royal made strong plea for State
banks and fingered that such system
would be more permanent than any o.ner'
aud best adopted 10 local necessities, ana
would afford the most satisfactory solu-
ton cf the whole money question
Representative walker. tho chairman
OF the committee, showed great interest
in Mr. Royals remarks, and questioned
him closely, and Representative Cox, Of
Tennessee. took occasion to declare that
he would prefer the re-estaDiishment OF
the State banking system TO the Tree coin
age Of silver
Il HELPFUL MAN.
After the hearing Chairman Walker
said 10 the Representative Of The Tines
MIR. Royal Is one Of the most helpful
men that has ever appeared before tne
committee during nv eights years or
service. While the committee does not
agree with him in ell his propositions and
infercnces drawn from his facts, they
an feel under obligations 10 him for tho
help he has rendered the committee in
their work Of framing a bill TO correct
admitted evils.
when he concluded his argument the
members Of the committee were more
impressed than ever before. Of the magni-
tude Of the evils known 20 then. ana,
also. with the fact that there are many
more. and graver evils. than had ever
impressed themselves upon their minds.
a NEW NATIONAL SYSTEM.
il being conceded that II b. impossible
70 secure legislation authorizing the is-
suanoe Of 2l-2 per cent bonds and retir-
ing the croonbacks and Treasury notes,
and that, therefore. al the evils cannot
be corrected now. the committee Will
create a new national system Of banking
in the bill they will report that Will cor
rect an evils possible whilc tho green
hacks and Treasury notes remain in e1-
istence.
UNITED PRESS REPORT
WASHINGTON. Dec. 19.-lf the favor
able comments Of the members may he
accepted as criterion. the orgument
made by Mr. William l.. Royal OF Rich-
mond. Va. to-day for "a state banking
law before the House Committee on
Banking and Currency, was a brilliant
success.
Chairman Walker. of the committee
characterized their visitor as one Of tho
most practical and clear-headcd men that
has appeared before them. He explained
that 1ir. RovalIs objection 20 the ma
tional bank system is principally theo-
retical. and he wanted a banking system
which would give tho people Of tho South
that freedom ~ banking which could be
found under the state system.
Mr Walker added that while the COM
uittee would not endorse the State sys-
tenn AIr Royal would ind in The Din
which the committee VIII mature an the
freedom of banking that the Southern
people require.
Nr. Rovaus address win be printed IN
Fun in The Times OF next Tuesday, the
21d.-EditOr