The times. [volume] (Richmond, Va.) 1890-1903, 1897-03-05


that what serves them I'm their business
s. good enough for all tho rest OF the
country. They certainly overlook tho
difference Of conditions between them
selves and people who dwell in other
parts Of the country. They live all
together. with banks in stones threw
OF each mans door and al their affairs
arc transacted with checks. But tie
countrvman. who has no bank within
miles OF him. must have cash that he
can carry in his pockets 20 transact ms
affairs With. lie cannot by any pes
sbility operate his business with checks.
lie must have cash. resort to barter. or
do no business. As we have often
pointcd out. tho national currency, hay
Ing the national credit At the back Ct Ell
OF Sc. is good all over the country at
par and it an leaves him for the COM
morcial centres. The same thing ex-
actly would happen II we had unlimited
coinage Of silver. as 81 would be good for
whatever II was worth all over the coun-
try. 70 would-unlcss boarded where II
would do nobody any gcod-go 10 tie
commercial centres. just as gold now
does. Gold SIS our standard Of value
But what countryman ever sees any
geld? Silver would do just as gold now
docs 81 we had unlimited silver. Inc
point IS that if money is good al par
an over the land. Sc viii an 20 TO the
commercial centres. i'm spite Of every
thing our country is so vast it's in-
forests arc SD diversified (dversihcafion
following sectional Ines. that we arc
absolutely compelled 70 have a currency
system that will give 20 each region OF
country that sort Of currency that L.
suited 90 30. and that viii stay in it,. -ris
is the prime fact IN the case. which
scarcely half a hundred men in this great
nation have ever yet come 10 realize.
ana Of which Mr.. Fish is the solitary
New York banker that We know Who
has begun 10 have am appreciation.
We repeat. then. that if those who are
directing their attention 10 this SUBJ
Ject Will only inquire. Where does the
complaint of want of currency come
from? they Will see that 1T came entirely
from tie rural districts. Ii is true Mr..
Fish makes the point that the national
bank system has failed 10 answer The
demands even of the cities, whenever
there has been any stress. in the last
twenty-five years. This may be so, be
cause ID is am utic.n bad system suited
TO DO conditions al amy time or any
where. il is q system in which every
principle Of sound banking IS sacrificed
a. the one consideration OF having "a note
good AN over the country This an
swers the purpose of those who live in the
cities weu enough. but the cries of dis
content come up n great volumes from
the country. ID is true they 10 not
come i'm the form OF demands for stale
banks. They come in tEe form OF de-
mands for circulating medium. and the
statesman who is entitled to the name
cares little for the form that popular
grievance assumes. Tie looks for hlmseS
into the true cause OF the grievance, and
applies the remedy accordingly. The
grievance I'M this case is that all the
money and currency in the country Is
money of q national character, that Is
good at par an over the Union, ana
that it consequently leaves the farms for
the city. The only possible remedy is 10
allow the farmer a currency based upon
local credit which. being al q discount
i'm other localities. win stay with him
in tine locality that issues il.
Do is continually said TO us, the farmer
can sell what he has for national money
the trouble is he viii not wosS ana pro-
duce more. There is much n this, per-
haps, but then the farmer IS deprived o.
tho means of working TO advantage when
he SIS unable TO procure currency as he
needs it. A brake OF great force is pu1
uoon bis efforts when he is thus ham-
uoIed.
The farmers case stand thus: lie says.
1T is true 1 raise the bread and meat
necessary FOR my family. without tnc
aid OF currency. and ann able to Sell
enough to get plain clothes fer them.
bat my opportunities are limited TO thar.
II 1 were able 20 Jay my hand uDOn
cash as my necessities required. 1 could
make my farm do Jar moro for me than
that. The case amounts to this. then
that ! ann able TO live as things are but
that / would be able 10 live FAR better
if i could get money as occasion called
for it And as the farmer DrosDered
the city would prosper. If the farmer
could get the cash he needs at the
time he needs it, he would have Tar more
TO spend. and as he had more TO spend
the city that sells TO him would have
more profit.
GOOD MANNERS AND GOOD SENSE