The news & observer., 1897-12-19

meet the necess; ties of our people anu
the demands of business, that VIII pass
current from hand TO hand and remain
with us, instead Of drifting away to the
money centers to be locked up and leave
Us practically without n circulating med-
INN. as we have been and always viii
he until such banking system is pro
yilcd for We commend the speech OF
Col Carr
The Wilmington Messenger, also
prints tie speech aud says:
Col. Julian $. Carr is Il true, con-
sis eut bmetalist. He did not for q
momcut conceal HIS views in the midst
of the most lonesome" surroundings as
a delegate to the Atlanta Convention Of
Southern bankers. lie concluQoI his
cracking. clear, short speech with the
bold dcclaration-"l am for the dollar
OF our daddies, State banks, and free
silver"
The Atlanta Constitution, speaking of
the views of the delegates, said:
mfr. Carr indoised that part of the
plan adopted by the Convention which
propose to give more money to the peo-
pie. lie did not approve the single
standard idea.
''The recent system of currency and OF
banking is thoroughly wrong" said he.
Here in the South we have not enough
money. Up in the North they are bet
ter off and maybe they can get along
with one standard. l am for free silver
and some other things, too, with which
all my banker friends do not agree.
Il got my ideas of political economy
in the sleeping ears at night and in the
office. i didn't study il at school. bu
my views came from contact with the
world and there Were some knocks in II
1t was said of great general that ht
was great because he was one of tbs
people. He knew them. The banker
and fnanciers who would attempt (,
solve the financial problem of TODAY
ought to know the people and not thinl
altogether OF what they themselve;
want"
TheAtlanta Journal editorially. says
THE RIGHT LINE
The brief spt ech Of Mr.. Julian .
Carr. OF North Carolina, at the Bank
rs Convention yesterday afternoon wa
one Of the most notable events OF ii
;ession, because L indicated that diff
ences as to the standard of the cur
ency do not divide the supporters of III
movement for a more liberal ana betts
distributed currency. Mr.. Carr is
'xtreme free silver man. hut he is hea
nd soul with the declared purposes @
he convention held here yesterday
ameng other things he said:
''One speaker has told us today tha
we have only 80 cents circulation per
CAPITA it is nearly Sc. They tel us
that xya sInn'f want any moro NANCY
| say that a man ought to be abe
to go to the bank and be able to
borrow on his credit as well as on
bonds"
There is probably enough money III
the country now to met all the require
ments of business, but the trouble is
that in some sections there is an over
supply. and IN other sections a scarcity
Of it. We do not refer TO the per capita |
wealth of the people, but to the circu
lating medium.
1T is impossible under present condi. |
tions to distribute the supply of cur
rency so as to meet the needs of the |
South AMI West and to cure this radi- |
cal defect of our monetary system is the
object of those who contend for an en- |
largement OF bank issues.
Bank notes under the plan endorsed |
by yesterdays convention would be per-
tectly sound; nobody would lose by |
them; Their redemption would be so well |
that they would enter large
ly into circulation in the sections where
most frequently occur
and are most keenly felt.
"Mr. Carr shows his good sense in |
4ia+ he
er bank currency from the contest over
standards. He realizes that
we are to remain on the gold |
standard, to adopt the silver standard
or to enter into an international bime-
fallic agreement the necessity for an ex-
tension of banking facilities and the
larger use Of guaranteed paper money
will remain.
Mr.. Carr does not abate one iota his
zeal for the free coinage of silver in
coming to the support of the plan en-
lorSed by the convention, which he ad
lressed. lie sees that this plan provide
for measures Of relief which viii be
practicable and under any and all condi-
ions.
"NVe commend most heartily the spirit
Of Mr.. Carr's position to our
free silver friends. If they see proper
hey may continue the agitation for free
silver coinage after the banks have been
to extend the large measure
If aid to this section which would surely |
come from them if recommendations |
Of the Convention or something like
them, were embodied in law"
WILL NOT VOTE FOR HANNA.