The times. [volume] (Richmond, Va.) 1890-1903, 1897-02-09
THE PROSPECT FRIGHTENING.

Constitution. so that the people could
have their own local banks, chartered ly
their States, 20 issue upon the credit Of
those local banks notes that would stay
amongst the people. rs was intended 10
be the case and IT has fought IT almost.
II not entirely. alone. Nevorthcloss Tho
Times knew the spirit and intention Of
the Constitution. and II had a firm grasp
upon those fundamental financial princi-
pics that demonstrate that to be the true
condition for a people situated as ours
are. and It has held on pcrsistcntly and
without wcarying. knowing fpli tell that
its efforts would be rewarded in time.
IL is now plain that The Times is max
ing a lodgmcnt in the public mind much
Is awaking IT TO the fact that a great
body Of our rural population Is suffering
tho most outrageous and cruel oppression
for want Of the notes Of their local
| banks. People arc beginning TO learn
this fact. ana 10 make inquiries. and.
! when full information Of the actual con-
ditions once gets before the public we
can look with confidence for an amend
ment of the laws that will bring these
| people some relief.
Mr.. William i. Dodge. one Of the
wealthy and leading merchants Of New
York city. made an address last Friday
10 tho Chamber Of Commerce Of New
YORK IN support Of a motion by him for
the appointment Of committee to aid
in securing currency reform legislation,
which is so important that we print 1t
in full lie said:
| II was fortunate enough 10 be ap-
! pointed as one member of the delegation
! 10 Indianapolis and while acting on the
| Committee on rules and regulations. 10
/ which all the business was referred. |
was shut up for two days with represcn-
| tativcs from twenty-eight different States
| and / had an opportunity Of free and
| unrestricted intercourse and conference
| with those gentlemen, and the informa-
| ton received there was confirmed after
ward I'm Washington. where. as chairman
| of the Arbitration Committee ] had con-
| ferenccs with number Of senators from
| those same States and 7 came back very
deeply impressed with the conviction that
had not been entirely Informed, and
Informed. as TO the condition Of things
in very large portions of our country.
II was surprised, sir. 10 find the as
sertion constantly made by men from
the far Western States and the South
! and Southwestern States that it was not
Mr.. Bryan and It was not silver that they
were I'm favor of. but they needed some
change 10 bring relief from the terrible
condition of poverty and scarcity OF
mo 10 No.
felt that their condition was so extreme
and so painful that any change would
be Of value. and when I came 10 look
into the matter and TO talk I'm a friendly
and kindly way with them they all con-
frmed the same feeling which ! had
found at a long conversation I'm the
Treasury Department at Washington.
that the circulation OF the country is
quite out Of joint. that the lungs and
heart are congosted. and that the extremi-
ties Of tho country are absolutely with
out any blood.
Il found that there were great sec
tions of the Southern and Western coun-
try where there was absolutely no money
at all. There the most primitive forms
of barter obtained; where everything was
most disorganized. One gentleman told
me that I'm his country which was quite
rich agricultural country. by some hap
py accident a fifty-dollar bank bill had
come down into the county and that he
had taken a horse and buggy and spent
four days IN visiting all the towns in the
county striving 10 ut IL changed into
smaller bills, but had been unable TO do
so and finally was Obliged 10 send il 10
Richmond. There were Senators who
told me that their constituents never
saw dollar Of money from the beginning
of the year TO the end. with the result
that they had constantly 10 go into debt
TO the local storekepera The local
storekeepers received their pay i'm kind.
In fact everything was drifting back 10
the old times before money was invented
And this was not in one section of the
country only. but in large sections.
I'VE can quite easily understand that
where there Is not sufficient money to
establish a national bank under the very
Onerous laws at present in force there is
nothing else 10 take the place The
same difficulty has come up in other parts
of the world.
In this country every man has a
chance 10 care for the government. and |
unless we instruct our good friends and |
show our sympathy with them ana UNI !
derstand that when any part OF the coun-
try suffers the whole country suffers We !
are sure 10 have difficulty ahead. ii was
brought out at the Indianapolis COnven- |
ton that after the first sad. serious mis-
take made necessary by the eNigencies Of !
the civil war we had gone on with make
shifts ever since one bit of legislation
necessary TO bridge us over u particular
crisis has been met with another. with |
every issue of bonds and OF greenbacks |
and with every other form of currency, |
legislative enactments have been made |
and they contradict and overlap each |
other. and the business Of the treasury |
is exceedingly hard and difficult.
81 came away from indianapolis with |
this very firm impression, and / have |
only Venturcd to submit il because l |
feel II so deeply that unless those OF us |
In more favored parts OF the country UNI |
dcrstand the condition OF our brothers |
and our fellow-citizens I'm the other parts |
Of the country unless we wisely instruct |
and educate them and bring about some |
wise methods for their relief. when the |
year 1900 comes we shall be swampod with |
an infinitely more powerful vote against |
us than during this last election: l |
think the change will he a very serious |!
one. Every man that met emphasized |
that fact Therefore ] make this motion |
that a committee be appointed 10 act with |
that commission. so that we can bring |
back 10 New York and 10 our friends here |
such information as may lead them 90
give their advice and experience and help |
TO any wise efforts determined upon by |
the government" CApplause)
Aztec short speeches by other members !