The times. [volume] (Richmond, Va.) 1890-1903, 1897-11-30
now WE ARE MIsUNDERsTooD.

Tho wilmington Messenger. one OF the
ma, ardent Of the frec-silver papers, has
an article on postal savings banks vs.
State banks" which we have read with
M little satisfaction. At IS introduced as
follows:
That The Richmond Times is an aoIe
paper no candid man will deny. That
n is extremely. ultra In the currency
matter-the gold standard-is equally
agsusred We are surprised and graft
fed 10 find I'm a recent issue two edi-
torials with which we are In concur
romeo II stands favorable to repeating
tho unjust tax on state banks, and OPP
poses the new Republican fad OF postal
savings banks system. IL is surely. as
IL seems 10 US, on right lines In both
contentious II sharply rebukes the
gold organ sf mugwumpery in New York
city. the Evening Post, for its opposi-
ton TO repeating the tax on state bank
notes. IL Is so iniquitous, so unfair that
it would be amazing but for the ire
quency Of the act for sensible newspa-
per to oppose so righteous and equitable
a course as 10 wipe out the tax on state
bank notes. although law that STANDS as
a monument Of injustice. narrowness. and
ignorance.
The Messenger then quotes the extract
from the Evening Post, with a synopsis OF
The Times reply, and adds:
We are pleased that The Times, so Of
ten wrong. Is so near right in the mat
ter OF postal savings banks. II writes
iudicously and wisely. and. so far as
we have noticed. IS the one gold organ
that has opposed the Republican idea
of paternallism as is presented In the
new scheme against which so much
NAV be urged. It's views are in har-
monv with much that the Messenger
has urged against this new plan that
is of such doubtful wisdom safety. ana
oxnediencv. The Times has not for
gotten its Southern raising" altogether.
for II Is wisely forceful in antagonizing
the maternal idea and in favoring the
State bank system.
And then follows an article from Tho
Times on postal savings banks.
The Times has been misunderstood. BE-
cause we have opposed the free and I'M
limited coinage Of silver, the impression
has gone out that we are in favor OF
contracted currency. In point OF fact we
advocated state banks Of issue long before
the campaign Of 1856 indeed, before free
coinage was leading issue. We are en-
tireIy agreed with honest free silver adj
vocates that the currency system Is
wretchod, and that It must be reformed
or there will continuously recur such
crises as that which the country had in
1893. The only difference between them
and us is as to the method OF reform. We
believe that free coinage would be disas-
trous and would only make a bad mat
ter worse. But granting that it would
not be disastrous. it could certainly not
supply the demand for a local currency.
Increase the countrys stock Of money
as much as you please, under the pres
ent system, it would continue TO be CON
gested in the money centres Of the North
and there would be n dearth Of currency
throughout the rural districts.
We believe in local self-government We
believe in as little Interference as posi-
bic on the part Of the Federal Govern
mont with the business affairs Of the
people. or with the rights Of the States.
This accounts at once FOR our advocacy
OF the repeal OF the ten-Der-cent tax on
state bank issues apd for our opposition
to postal savings banks. We say 10 the
National Government: Hands Off. Let
the States manage their own ahairs'
Don't interfere with business. Let 1t he
controlled. as far as possible, by the nat
ural laws Of trade.