The times. [volume] (Richmond, Va.) 1890-1903, 1897-11-23
For State Rank NnteS-

To The Editor Of The Evening Post.
Sir;-The silver question has been pro-
jected conspcuously into politics because
there are thousands of producers who
nave seen their products constantly de-
cline in market value, and because nearly
or quite one-haif Of the American people
believe that this shrinkage I'm value arises
from an insufficient supply Of money. 1t
1t not my province to discuss whether
this view of the cause OF shrlnkage Of
value is correct or not. l only state the
indisputable fact and the popular belief
IL you will examine the statistics, YOU
will find that here I'm Alabama the per
capita OF circulation is about 1874 To ia
lower in Arkansas, and in many States 10
is less than SIS. New York has nearly
500. It is hardly strange that the people
OF the States where the per capita is so
low should be found FESTIVE under such
conditions, and yet the men who are max
ing tho strongest fight against an increase
by the coinage Of silver offer no remedy
whatever. and no hope 90 the people OF
the States where undeniable suffering il
caused by this restricted circulation. IL
is no answer at all 10 say that we should
go 10 New York 20 get our money Any
remedy that compels any part OF the poo-
PIE TO rely upon the grace or cupidity OF
some other section for n thing as nccos-
sary TO their progress, development, and
well-beng as Is a sufficient circulating
medium will meet predestIned failure.
Ia 1893. when the banks I'm many locali-
ties had I'm sclf-defencc 10 issue clearing
house certificates 20 pass as money, tho
banks here issued certificates IN small de-
nominations TO the limited extent OF
si5 900. These certificates had practically
no circulation twenty miles from this
city, and yet they were in most active
and satisfactory circulation here, and it
Is estimated that Aey liquidated nearly
half million Of local debts during their
short life. No one was hurt; no man
suffered a loss; no man was required 20
accept one, and yet there never was I'm
the history OF this city as much service
rendered 10 business by three times as
much gold or silver. IL was a local cur
renCy good only at home, and remained
there 20 serve the people In great crisis.
Now, If this was accomplished by a SELF
created currency having scarcely a SEM
blance Of law 10 sustain il. what would
be done with the local currency that had
the authority of "a sovereign State behind
It? Remember that i'm my judgment no
plan that you can invent will be accepted
or give satisfaction that VIII compel the
people TO look TO a great financial centre
for their money. or that win not supply
the local demand for an emerged circula-
ton
II the Supreme Court should declare the
tcn-ccnt tax on state bank issue uncon-
stitutonal, 0r Congress should repeal the
act-admittod generally 10 De- unconstltu-
tional-I think the states would pass laws
that would supply the demand for n local
currency, and possibly thera would be
enough gold t0 serve as n basis for inter
state and foreign commerce. 10 is likely
that each State would take a pride iu
making It's system so good that its money
would be- accepted elsewhere. Before the
war the States that had the best systems
were thus rewarded. Would not the same
result follow2
Judging from the last elections. the only
way 20 prevent continued agitation. and
perhaps the overwhelming success Of the
silver men later on, is by giving relief in
the way L suggest or some other plan
that will give the people am opportunity
10 supply themselves with n local cur
rency. il Is not even desirable that this
should De q legal-tender money. Can
there be any objection 90 allowing the
people Of any State 20 supply themselves
with a currency satisfactory to them
selves when tho people of other States
cannot have 10 forced unwillngly upon
them? EDWARD W. FUCKER.
Birmingham. Ala, November u.-New
York Evening Post.