The times. [volume] (Richmond, Va.) 1890-1903, 1896-12-04
was a determination to call a general

| sentation from cities OF certain num-
| Der of inhabitants. This convention
| ought to be body OF the very hrst
| Importance. and its work ought to result
| in giving this country a perfect currency
| system that would pacify the people ana
restore us that condition Of rest that Is
so much needed. But we candidly con-
fess that its proposed organization oe-
prives us OF all hope that 1t VIII accom-
plish anything I'm the way OF mate
rial Modification OF the present abnormal
and deleterious state. No provision at
all seems to have been made for repre-
| septatives OF the country constituencies
when II IS the country constituencies
| from which the complaints come that
| threaten the peace and order OF so
ciety. The cities would be satisfied with
| the national-Dank system hberaiizcd, but
its operations are death to the country
people. A convention organized as TINS
one will be will tell the country 1t wants
| stroyed. and so the country does. But
never n word will 1t say OF that grind
ing operation of the national-bank sys-
tenn upon the country people which
| free silver. and which will continue TO
| be heard in the future until our bank
| ing system is so altered that the peo-
pic who live in sparsely settled commu-
mites can share ratably in banking ia
cilities.
We repeat. then, that this conven-
] ton ought to be a body OF prime and
lasting importance. but with the country
people unrepresented. we fear that 1t
will be without any influence OF any
consequence upon the real cause OF pop
ular discomfort.
The present generation OF Americans
has been reared with the fact at all times
in evidence before their eyes That the
| Government of the United States is the
fountain and source of the paper cur
rency that the people need. The theory
IS an utter perversion OF ali sound prin-
ciple: yet the people have seen the fact
| staring them in the face until their minds
| have fallen under the delusion that the
| Government is properly this source.
OF course, we are never going to have
any peace and order until the people
unlearn what they have wrongfully
learned, and again become acquainted
with the fact that the Government has
no rightful relation OF any sort what
ever TO paper currency. and that bank
ing. including the issue Of bank-notes. Is
| just as much private business as the
| sale Of cattle or brooms or tin pans.
The extent and depth of the popular
delusion upon this subject may be judged
OF by the following fact. The Hon. W.
II. II. Miller. who was Attorney
of the United States under Mr.. Harri-
sons Administration. was member OF
the meeting at indianapolis last Tuesday.
and he offered in that meeting. after
referring to the country's disordered
financial condition, the following resolu-
| ton:
things is mainly with the States. The
! National Government can. by legislation.
| deal with this subject only within very
narrow limits. What kind of legislation
| IS required. whether penal or civil, or
| both, and what change of direction. II
any. is needed in the courts. Is in the
nature Of prescription, rather than OF
diagnosis, and hence not. within nv
province. one thing, however. is clear.
This remedy must be furnished, or con-
sequences not to be thought OF with
complacency are not remote. You. gem
tlemen, I'm your several localities, can
help 10 inaugurate this most necessary
movement"
Now. the mind that conceived this
resolution is just as densely ignorant
Of the causes Of our present troubles as
any in the darkest regions Of darkest
Africa. That mind has been reared In
the faith that in "the very narrow limits
within which the National Government
may deal with the subject" is the au-
thority to prescribe conditions upon
which the corporations or individuals
in States may issue their currency
notes. But when he submits his mind
to that delusion, he has prepared him
self for every evil that can flow out OF
a vicious financial system.
The States are perfectly powerless to
enact any legislation that can affect this
subject. The evil grows out OF the
nationaI-bank law. and that provision OF
it which prohibits the banks Of the
States TO issue currency notes. Ihe
States cannot affect this by any losis-
lation whatever. Congress, and Congress
alone. can deal with the subject, and
| all the legislation that is needed is the
repeal by it of the tax upon the issues
Of state banks. The subject VIII regu-
| late itself II that is done.
The following is pertinent. as bearing
upon the popular delusion that currency
notes that will circulate from end TO
end of the Union are necessary TO
| the prosperity Of the country. gen
| tleman who has been much in Cuba told
| us recently that the made the acduaint-
| ance Of a planter there. named Sanchez
| whose plantation Is one hundred miles
| square. Until the recent disorders up
| set all business in Cuba, this planter
coined all the money that was used