Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1897-11-27

the welfare Of every member Of the
mighty group which constitutes our
national life. It touches the humble
ana dependent more closely than Il
does the strong and powerful. although
In Its fnal determination the far reach
ing dsstiniea Of ali ara involved.
II believe that thu shape and destiny
Of eur national life. ~ 1t may be AFFECT
cd by financial Legislation, is to be de-
tsrmiped within the next four years.
The forces and energies which found
victorious expression In the last eloo-
ton are al significant new a. they were
then.
1T IL said that under present eondi-
uonH It II impossible that obstruction
iats ean hinder and defeat the popular
VIII; that agitation en- 80 delicate a
subject aE the money standard IL dis
turbing; that We have the best Of guar
antees that fer fsur years the present
status win be maintained; that the re-
vivAl ef business will ba best assuroH
by the D0lisy sf inAstioA. Covered In
enc sentence all thia 10 summed up IN
the much abused maxim. Let well
enough alsn@' The maxim well ap-
Piled II indeed q Wise sAa hut tha wis
dem Of Il lies in the application Of Il.
when ultra conservatism applies II
=
enough instead Of well enough II Il
fatally nisApplisd- That the esnditior
Of eur currency ana banking systeu,
is bad enough IN certified to By ths
deliberate Judgment Of the great body
Of economic students and BY q genera,
consensus Of 0pinioR amona business
men.
''It certainly is net we'll enough with
q banking system utterly inolastia and
| cerrOspendingly irrespsRsivs to the do
| nestle requirements Of trade and In.
dustry to which, In its proper relation
the banking system should ba sh,
faithful and afasisnt handmaiden.
1 ''It il not we'll enough with the ma,
tional treasury awkwar6ly performing
an once which il Satirsly foreiEn 4
its proper hunetisn. It 10 not vel
enough. II - absolutely bad. when tn
result is . publie treasury - oxpande,
In its demand liabilities in q time o
| profound peace a. to threaten itn sci
| vency In ease OF war.
SThO establishment Of eur surranc-
and banking system upon more socur
foundations II the enc thing lacking t
the things which make fer q parma
nent condition OF reasonable prosperity
In securing this the pioneer in the wesi
the laborer In the mines, the toiler Il
the nald, the mechanic in his shop, tn
merchant ana the banker, are al
whether they know # or not, each 4
his degree alike interested.
''At cost toe contemplate for sari
Gus consideration, the debatabls con
dition Of eur currency and banlxfn
system may be put upon clearly SAT,
II not theoretically scientific founds
tiOns. This may be secured withou
any necessary contraction Of the ciI
oulating medium OF exchange and wit
no danger Of an undue expansion, anC
best Of all. this desirable end may carr
IN its effect potential relief to those dis
tricts In the south and west, whicl
Though rich In possibilities Of soil an
climate, have been held back thrOug
the absencs of banking capital an
credit facilities.
'Nor will permit myself to doul
that In tho councils Of eur nation
J wise statosm anship. supported an
, sustained by the wisdom and value
/ = pure patriotism am0ng our peopl
/ will nnd the way t. the much needs
} result"
. GOverner Frank 8. Black rosponds
? t. the toast The state Of New York
: He. tee. was warmly received. and lii
4 the preceding speaker read his sDascl
. which was frequently applauded.
: General Wesley Merritt spoke to II
toast, The Army" and Commodol
FrAncis ~. Bunss spoke for ~Tl
NAvV." Mayer ltrong also spoke