The times. [volume] (Richmond, Va.) 1890-1903, 1897-02-19

The New York Sun belongs 10 a class
OF people who live in the North and Cen
nM Northwest, who shut their eyes to
the actual conditions existing ia an i'm
mense part Of this country and who
tell the rest Of TIE people that as the
national banking system is good enough
for them it would be good enough for
the others. if they would only think so,
and that they will, therefore. allow no
amendment Of it, complain of it how the
others viii.
The sun has got hold Of copy Of the
speech which Mr.. William J.. Royal
made in December last to the Banking
and Currency Committee OF the House OF
Representatives. and it makes the same
the subject Of an editorial article in its
issue of Wednesday last.
Speaking of the evidences that Mr..
William i. Dodge recently gave that he
learned at indianapolis something Of the
actual condition of the country people,
which we have printed in these columns.
1t treats the subject thus. lt says:
This plant OF Mr. Dodge greeuback
abOitouist Was fairly q companion for
tho statements made last December le-
fore the House Committee on Banking
and Currency by Mr.. William J.. Royal
OF Richmond. Va. We subjon some sp-ci-
mems OF the ideas advanced by Mr.. Roy
all. an aNOwcd representative Of Wild
cat banking:
Banks must be permitted TO issue as
much or more than their capital in notes
TO make banking IN the country proil-
table.
Banks have to put ont more notes than
their capital in order to make il pay.
III you pat the Governments endorse
mcnt ON money, We cannot retain it "a
moment; ii is good then an over the
country. and everybody wants it. As long
as it is backed by our credit only, it is
good enough for us, but not good enough
for you
Il believe the Southern people Will
agree TO give up the greenbacks if they
can have the repeal OF the 10 per cent.
tax on State banks.
III you will let us put out as many
notes as we please on our own assets. and
don't require MS to give any security
of any sort for those notes, 1 don't care
how many provisions YOU may put on
for driving the notes back
Putting together the bank currency poll
cies OF Dodge and Royal. We see a. COM
bination calculated TO bring serious trou-
Die. if not complete disaster upon all
efforts to rebuild the national prosperity
out Of its almost fatal wreck. With no
closer or nrmcr alliun"e than exists be
tween them to-day The grccntack aloli-
uonists and the straightout advocates of
wildcat banking together constitute n
threat OF commercial and political dis
mrh1uco that must be regarded as the
eravest with which our sull harrassed
community is besct.
The readers OF Tho Times know that
The propositions supported by Mr. Royal
when lac 40 before the Banking Com
mittee aie The propositions supported by
this paper The sun. finding 81 more con-
venient 10 ridicule Mr.. Royals argu-
ments than TO answer them. disDoses
OK the whole subject with an effort to be-
little then. ana supposos then. that the
nattcr viii never be heard OF again.
AS well may The ostrich think that 81 has
oludcd the hunter when il has SIS head
well buried in the sand. The evil. as
Mr. Royal depicted il. exists IN the coun-
ny. the people are clsmoring for a re-
dress Of 1t. and that clamor will be con-
l.aIed uuIil 1t ia kQsQsds ara lelk2f Is