The sun., 1897-07-19
A Bankers Panaosa.

Here is an extract from paper read he
fore the State Bankers Association at Sara
toga last week by Mr.. STEPHEN NJ. Girls
woLD, the President Of Brooklyn bank:
"Lst us send men TO Congress who win not spend
most OF their time looking after patronage for their
friends, oonnnng their efforts 10 those measures
which AFFECT only their constituents but men who arc
large enough and patriotic enough 20 iessate for the
people of the whole nation"
When was the time that talk like that
was not heard in the lnndf Is there tap
room In the oldest settlement which has not
resounded with It continuously since this
republic was establishedi The men who
are sent to Congress represent the will Of
the people who send them; otherwise they
would not be elected. They represent 1t in
tho legislation they produce. Nor do they
actually neglect their legislative duties to
"look after patronage" Has this present
Congress been ncglectful Of the particular
duty of making tariff which the extrases-
sion was called to discharged In q shorter
time than ever before q general tariff bill
has been pushed forward to tho stage Of q
conference committee. Is not that a meas
ure of legislation "for the people of tho
whole nation"7
Bank President GRIswoLp, however,
would not have Congress spend Its own en-
ergies In tariff legislation, but would have
1t delegate the business to outsiders not
chosen as representatives Of the people:
"I would appoint tarif commission of the United
States, and pass law that q revision of tho tariff
should not tako place oftener than In ten
A tariff commission is already at work,
for what else are the conference commit
tees of the two Houses of Congress now
engaged in adjusting the differences be-
tween them3 Moreover, their report will
have some representative authority.
Suppose Mr.. GRIswoLp's law forbidding
a revision of the tariff oftener than once in
ten years should be passed, what good
would it dot 1t could be repealed by the
very next Congress. Mr.. GRIswoLD would
have to pass n Constitutional amendment
to accomplish his purpose, and that Is q
pretty long and difficult job.
Here is another Of Mr.. GRIswoLD's dead
sure propositions:
"A final settlement Of the currency question would
take place II Congress would pass law establishing
soms safe and we'll guarded system Of national bank
note circulation broader and elastic than the
e1pedicncy or makeshift currency We now have"
II the Keely motor should prove sue
cessful, we could dispense with the steam
engine. There are many things which Con-
gress may do, but there is one thing which
1t is sure not to do, and that is to take
away the function Of note issuing from the
Government and turn it over to the banks
for their benefit. 1t will not do it, and it
should not do 1t. Moreover, we have now
no makeshift currency" The people are
satisfied with the currency of the Govern
ment, and all of 1t is as good as gold. Only
the banks want the well-Ruarded system
of national bank circulation" for which Mr..
GRIswoLD cries.
Finally, this Brooklyn bank President
proposes to settle the labor question:
"Iwould suggest tha, tho labor question troubles
could be satisfactorily settled by q national tribunal
or oommifsion appointed by the President Of the
United States. with the advice and consent Of the
Senate. to whom all labor disputes should bs TO
ferred."
There is slight obstacle in the way of
carrying out that scheme. 1t Is the Consti.
tuition of the United States. Mr.. GRIswoLD
must begin with the radical amendment of
that venerable instrument.
Why is 1t that these associated bankers
are 30 ignorant of the Constitution, tho
laws, the politics, and the popular senti.
ment Of their country3 Moreover, do they
ever really thinE7