The times. [volume] (Richmond, Va.) 1890-1903, 1897-11-05
LET Us ALI UNITE on THAT.

LET Us ALI UNITE ON THAT.
we published the following letter yes
terday, but it contains so much solid
sound sense and so much food for re-
fiection that we make no apology for
publishing it again to-day. 1t is as fol-
lows:
Editor Of The Times:
sir-Mr Secretary Cages financial plan
falls far shs2. of a promise to give 10
the agricultural regions OF the SCUM ana
West the much needed banking capital
without which the cry for free silver
or some other quack remedy for the
blight that has been over these sections
since the war. must continue to VeX the
country.
Since the northern people tho start
led by that heavy vote for free silver,
that threatened to discredit this country
in the eyes Of all the world, remain
blind or Indifferent, TO the injustice OF
the ten per cent. tax of the National
Bank law that prevents the issue OF
currency by State Banks. why cannot
the people South and West be brought
to see how hopeless it is to expect relief
from the party in power, and be brought
10 drop their difference about gold and
10 repeal that odious ten per cent. tax
Surely there can be but one opinion as
10 the importance to the agriculturist of
an opportunity TO use his credit I'm his
farming operations.
Ii is as important 10 him 10 employ Ia
Dor at the lowest price for money pay
ment. as II is for the merchant to buy
his goods for cash. thro' the accommo-
dalton he gets at Bank. Only thro
the establishment Of local banks in farm
ing districts can the farmer obtain adj
vances against his growing crop. thro
his known integrity, industry and So
briefly. why should a state be deprived
by the Federal government Of the right
10 charter banks OF issue, under State
supervision, in order 70 meet this crying
necessity of the agriculturist? The ac-
cOmmodation cannot be extended to him
thro' the establishment OF National
Banks. because as the National Bank
law now stands, there is no profit in
banking. TO justify the establishment of
banks in the country. a bank must have
the profit 10 be derived from circulating
notes in order 10 be sustained In rural dis
tricts, where there is not sufficient ac-
cumulated wealth TO afford the bank the
profit TO be derived from large deposits.
Under the old State bank system, be-
under the National Bank system, de-
prived OF bank accommodation. he must
promise high wages 10 laborers to wait
for payment. or pay for labor in a part
Of the crop, and he must barter his pro-
duce with the storekeeper I'm his neigh
borhood, for supplies at a large profit TO
the country merchant.
Can you not sget the attention OF the
press throughout the South and West to
this question with view TO the consoli-
dalton OF the Democratic party on this
one issue.
vIRGINIAN.
Richmond, Va, Nov. 3. 1897.
This is from no Populist. nor free silver
man, nor advocate Of cheap money or an
inflated currency, it is from one OF the
most uncompromising advocates of the
backs and all others forms Of imitation,
and man past middle life whose whole
career has been spent in the banking bus
mess.
But though he has been banker all
his life he has the breadth OF vision TO
perceive that prosperous banking and
prosperous farming so hand in hand, and
that the farmer can never prosper accord
ing to his deserts unless he is allowed TO
nave his local banks whose managers
know the thrifty farmers from the thrift
less and know therefore to which they
can safely and advantageously make ad-
vances.
The national banks being OF n centrallz-
ing nature are all at the commercial GEN.
tres. Their managers do not know the
farmers and. consequently, however
worthy Of credit farmer may be. he can
get no accommodations at the national
banks The result Is the great body OF
thrifty and industrious farmers are de-
MED all banking accommodations and
they are. consequently. cruelty hampered
and repressed in all that they wish TO do.
This fact is OF the bottom OF their clamor
for free silver They vainly imagine that
the deprecated dollars. free silver would
give them, would furnish them the flnan-
cial accommodations they are now unable
TO secure II wonid only make their con-
dition worse than It Is however Their
tue recourse Is what our correspondent
points out. II IA for the farmers TO drop
free silver and all unite In demand for
the repeal OF the tax upon the notes OF
state banks. Then every old and pros
Porous bank In this State would have a
branch in every locality that had bank
ing business enough 10 justify one. and
that being under the management Of local
men, who knew the farmers, every local.