The times. [volume] (Richmond, Va.) 1890-1903, 1897-11-16
a SENSIBLE MANS TALK.

| Following remarks:
| There is no question before the Amer
! lean people that begins TO equal in i'm
| portance the movement for a reform in
| our mOnetery system. We cannot have
| thorough and permanent prosperity until
| the national finances are put on an in
( dlsputably solid basis. The business men
| OF the country realizing that the fruits
| Of Ia 81 years victory are not complete
| until this IS brought about. are looking to
| see Congress take the matter up and deal
with II theoretically and periodically.
| The monetary commission is working
along right lines. and their plan, when
formulated. while not likely to be accept
cd in all It's details. will, no doubt. be VAL
liable to the legislators.
Personally. / favor the retirement or
the ereenbacks. which Will always be
source Of danger They were a necessity
Of n war epoch. but the time has come
when I'm the interest Of n stable system
some better plan should be adopted. The
DANGER Of currency contraction is overes-
timated. for IT Is easy TO provide other
forms OF money
On the mean time the country Is get
ting I'm good shape In my section every
bodv feels the Improvement. Our cereals
have brought large revenue 10 the farm
ors. and another leading source OF wealth,
lprnber &c i'm good demand at better
prices. Nv belief IS that at least we are
touching the edge Of prosperity IL we
have not as yet pierced It's center"
We don't agree 70 everything the Gov
ernor said in this. but there IS, never
theless. vast deal Of good sound sense
in IT,. lie is all wrong in thinking that
legal tender greenbacks were necessary
during the war. The United states gov
ornment could have carried on the war
upon a gold basis just as easily as upon
a deprecated paper money basis, and II
would have saved hundreds of millions
Of dollars If IL had and would have pre-
vented all the damaging issues that have
torn our people since the war. All that
was necessary was to have left the old
State banks alone, TO have rigidly requir-
ed the redemption OF all Of their notes on
demand in coin. and 10 have imposed
taxes enough to meet the interest upon
the bonds that the government would, Of
course have been compelled to sell. A
nation cannot meet all of the drains OF
such a struggle by taxation. IL is fore
ed in such a case, to draw upon its re
serve forces and mortgage posterity TO
certain extent. But y powerful nation
like tho United States can do this and
stay always upon a coin basis, and all
that IS necessary TO accomplish this, Is
to raise taxes enough TO meet the interest
on the bonds that it must sell.
England fought the greatest contest
with Bonaparte that the world has ever
seen and it was a steady and gigantic
drain upon her for more than twenty
years. Yet she issued no legal tender
paper. Her currency was almost exclu-
slvely coin and Bank OF England notes,
and though there was suspension OF
specie payments as TO the Bank Of Eng
land notes, their depreciation at no time
was very great. She sold bonds TO nearly
double tho amount the United States did
and simply raised enough by taxation TO
pay the interest upon her bonds. The
United States could have done the same
Governor Merriam is perfectly right
when he says there is no question before
the American people that compares in
importance with the financial question.
We saw it produce almost n revolution
last November, and nothing whatever has
been done TO give content to the elements
that manifested their discomfort then.
There is a very large part Of the country
that IS entirely satisfied with present fl
nancial conditiOns-those who live in the
cities and thickly settled country dis
tricts-but the people who live in country
districts that are not settled up thickly.
have no media Of exchange at all. They
are suffering and their complaints are
founded I'm justice. They are right to
complain and they will continue to COM
plain until their grievances are redressod.
We are now in prosperous commercial
era. IT is true. but after a while that era
will come to an end and the commercial
centres will have great number OF idle
men. and when the country districts come
lhi NftlN WIN hiiVtllii IiNbhrhiNh INV
the free silver fetish. the idle men Of the
cities will join them and the institutions
of this government will receive a shock
that they may be unable TO survive.
1t seems to us absolute madness in the
men who control public affairs that they
do not see the existing condition Of things
and hasten TO provide q remedy for II.
| A statute of five lines will end all Of the
trouble and restore us our constitutional
rights. Simply repeal the tax upon the
| Issues OF State banks and not another
word of appeal to the government viii
| be heard. The people will take care of
themselves and that too on gold basis.
As Governor Merriam says. the None
tary Commission now sitting at Washing
| ton ought to accomplish a great deal in
bringing about solution Of our troubles,
| but, as we have several times said, we
| look for very little that will be material
from II. 1t is commission that repre-
sonts the commercial bodies Of the coun-
| try ana the farmer has no representation
in II. II will not propose reforms that
go TO the root OF the matter. and restore
| TO the farmer his natural right. and the
right our constitution intended TO guaran-
/