The times. [volume] (Richmond, Va.) 1890-1903, 1897-12-23
THURSDAY. DECEMBER %, 1897


Several weeks back. at the time. indeed
when It was published. we reviewed Sc
cretarv Cases plan for amending our
currency laws and we showed how utterly
INADEQUATE his recommendations were Tor
the demands Of the case. Nevertheless MS
nronosal IN retire and get forever rid OF
The rrecnbacks and Treasury notes ana
his proposal 70 issue bonds in place oil
those now outstanding. whose interest
should be payable in gold CON- "eo no
mine met our heartiest endorsement
ana we hoped his plan might he adopted
~ only to secure these two most impor-
tant measures of reform.
The Senator from New Hampshire, Will
liam r. Chandler. who is the Peck s bad
poyr OF the Republican party. has writ
Ten letter 90 the Washington Post dis
cussing Mr. Cages plan and shaking his
merry little epistolary fist at it with might
and main. But his objections all turn
upon his proposition that if Mr.. Gage
suggestions are adopted, the Republican
Marty may fail to carry the Congressional
elections in 1888.
There Is the ban and curse Of our sys-
TEN Of government. There is not
thoughtful man in the United States who
understands finance who does not agree
mat IL would strengthen this country's
position beyond measure If the government
should declare I'm terms that all OF its
Obligations are payable in gold dollars OF
the present weight and fneness, and If it
should withdraw and destroy the green
backs and Treasury notes so that any
possibility of tho shocks To the nation $
credit that they are liable to occasion by
defeating the gold reserve might be for
ever ended. We intend no sort Of disre-
spect to the Popuists and free coiners'
by this smack. although both of these
classes insist that the government shall
not make its obligations payable in gold
coin and that il shall not take in and de-
stroy the green backs. We are speaking
now of men who understand finance and
few II any Populists or free coiners" will
hardly claim 20 have any proper concep-
tion Of the principles of finance. though
indeed some OF them may. We have long
ago come TO the conclusion that argument
OF any question of finance with Popu-
list or a free coiner Is breath absolutely
wasted so that whatever we now say
upon that subject must be understood as
not personal to them.
We repeat then that there is not a
Il -. rIc.
understands finance who does not agree
that we would strengthen ourselves incal-
oulably II we made our obligations paya-
BILE in gold coin on plain terms, and de-
stroyed the government currency. Yet,
IN spite Of tho injury which our failure
TO do these things has caused and is
causing the country, the average public
man holding Office takes William Il.
Chambers position and says better en-
dure the evil and allow It 10 continue its
course of sapping and undermining all the
foundations upon which our progressive
course rests than TO run the risk of losing
one election. which such a radical change
might subject us 10. Some how or other,
the evolution Of our institutions brings
this manner OF man into control OF our
public affairs. and while we look upon a
quarrel with evolution as being the same
as quarrel with divine methods, we are
compelled to admit that We wonder some
times how evolution can find It in its
heart 20 curse us in this way.
one OF the most surprising things con-
nected with Secretary Cages recommen-
cations. that we have seen. is the action
taken on Monday fast by tho Federation
OF Labor. II adopted the following reso-
buttons in SIS convention at Nashville:
Resolved. That we declare ourselves
most positively opposed to the Gage finan.
cial bill recently introduced IN Congress
by the Secretary OF the Treasury. IL is
q measure that. II adopted as "a law, will
only the more firmly riyet the gold stand
ard Oh the people on the country and per
petuate It's disastrous effects In every
form.
Resolved. That we pronounce the Gag,
bill an undsgulsed effort 10 retire oui
greenback currency and all government
paper money with view TO the substitu
ton OF national bank notes IN their stead.
and thus fskten the national bank sys-
TEN for years upon the American people
II these resolutions were no more thar
. sgotest against the national bank sys