Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1897-03-07
sIATE BANK CURRENCY.

80 f'4' 'IObo o. the issuing or a local
currency by these institutions. This must
De sore disappointment TO those Demo-
Gratis who aided in the election Of Nc
Nlhley 1 am opposed TO the retirement
Vi lhe 6reenbacks, and 1 favor the repeal
Ol the tax upon the issue Of State banks.
me retirement Of the greenbacks and
sherman notes would result either i'm
contraction of our currency one third,
or else a turning over of the control
OF one third of the currency 10 national
banks, and Spectators. who could con-
tract or expand it. as their interest and
greed might dictate
The repeal Of the 10 per cent. tax on
lhe issue Of State banks would bring
| great ro4lef 10 the South and West, by
/ supplying these sections with a local cul-
| rency. without lessening the national cur
| rency The benefits OF this privilege were
clearly eXempliied in the panic of 1898,
When banks of all sections issued notes
or this Kind. IT, in a time OF panic and
distress, these notes can circulate at par.
ana arrest the disasters of a panic, in
normal times, they can bring inestimable
peneiits and prevent the recurrence Of
panics
CURRENCY COMMISSION.
Il am opposed to the appointment Of a
commission to deal with the currency
evasion. 1t will result in no good. The
accredited representatives, Of the people
IN Congress are commissioned 10 deal
with this question, and should meet 10
promptly and decisively. A commission,
when appointed would consist solely of
representatives of the banking interests,
and would recommend the granting OF a
monopoly Of the issuance and control Of
money 10 the banks. Congress should
face the present distressed conditions of
the country and give immediate relief
and not shift its responsibilities to other
shoulders
The Presidents profession in behalf Of
international bimetallism will return to
plague him four years from now. There
Will never DE an international agreement
The advocacy Of one at present but en-
phasizes the correstness Of the two po-
sitions taken by Bryan and his support
ers during the last campaign, and dis
approves those assumed by the gold
bugs. The silver people have claimed
that gold was insufficient to do the busi-
ness Of the world The goldbugs have
denied this, and claimed that the sup
ply of gold was ample If the supply
Of gold is sufficient, then there is no ne
cessity TO remonet!ze silver by interna-
tional agreement. or otherwise. Thus,
Mckinley, i'm his address, admits that
the supply 10 do the business Of the
world is insufficient. He also admits,
as the silver people claim, that both gold
and silver can circulate, and be used as
standard money at parity, provided there
is sufficient power behind them.
when il is demonstrated that we can
not have international agreement, then
the people, four years from now, will be
called upon TO decide whether they will
continue an admitted insuftciency Of
standard money, with lower prices and
stagnation in business; or, whether they
will eliminate these by an independent
free coinage of silver. l feel sure that
the verdict will not be uncertain, and
that they will remonetiZe silver and re-
store prices and prosperity: The hnan-'
cial policy Of this administration can but
end in failure and disaster"
WASHINGTON-LEE ALUMNI.
There was an informal meeting Of the
alumni Of Washington and Lee University
al Dr. ID. S. Lewis's, 14i9 Rhode Island ave-
nue.. on March 1st, for the purpose or or
ganizing an alumni association IN thls
city. There are about forty-fve alumni OF
this University in the city, all OF Whon,
II is hoped. will be present at the next
meeting when Hon William l.. wilson,
the president-elect Of the University, VIII
be asked TO address them.
DR.. ID. s. Lewis was elected temporary
chairman. and Mr.. n. d. Baker, Jr., tenn
porary secretary
The following were present: Judge John
4. Lacey. Messrs. Glenn Brown, ID. ).
Howell. T. NJ. Gadsden, T. +. Epes' ;. W.
Railey. r. L. Lee, and Rev. isaac W.
Canter zen.
LOCOAOTVE-WORK BILL.
The claim of the Richmond Locomotive
Works was placed upon the general den-
cheney bill, by way of an amendment IN
the Senate, and as a majority OF the Con-
ference Committee favored the ClaAlil' II
seems unfortunate that 1t should nave
been lost by the failure Of the bill TO
mass at the last moment. There were quite
"a number of Objectionable features added
IN the bill in the Senate, and as the emu
s,,rooched a. soon became apparent that
tbe hill could not pass. The lndan appIo-
rriatiou bill and the sundry civil Dill llke-
wise failed 10 become law, because OF
lack of time upon the part OF the Ireslueit
10 examine and approve them. inns WIZ
,ocessltate an early organization OF the
I,oror,ittee on Appropriations at the com
fno extra session, as these three plils
,n1et necessarily be passed in some forin'
Fv-RepresentatiVe Connally T.. Irgs'
Mo has charge Of the locomotive Dill,
ea,e he has no doubt about its passage at
a., eorlv day Of the extra session, as the
claim has practically no opposIuoh' II
will i'm any event, he THINKS retain ~
nosition on the deficiency Dill ana snOLiu
III other committees be organized at the
N',+tor he AT once introduced and report
"a ir both the Senate and the House as
am independent measure