The Roanoke times. (Roanoke, Va.) 1897-1977, 1897-11-30
MIR. TELLER
ON Finance.
Senate Would Repudiate Scheme TO
Retire GreenbaCks.
REPUBLICANS MISSTATE THE
FACTS-NO SUCH AMOUNT OF
GOLD IN THE COUNTRY AS THEY
REPRESENT - THIS f.. COUNTRY
COULD ABSORB AS MUCH SILL
YER AS FRANCE DOES.


cans, and one of the best posted men on
the silver question in this country, talked
for an hour yesterday afternoon, giving
his views on the money question and his
IDEAS rs to what woulu be attempted and
what would be accomplished with re-
spect thereto. lie does not believe the
Sena &c will do any thing, bur asserts ut
the outset that if the subject were per-
mtted to come 10 Il vote without debate
the Senate would reruliate any scheme
that looks to the retirement of the green
backs lie does not, however, intimate
that he should he one to agree that the
subject should be thus voted upon.
No man." said the Senator, "can say
now what will be attempted by the adj
:.:inistration on the money question We
know pretty we'll what the House will do
under pressure, and we are equally as
sured what policy will be pursued in the
Senate. 1t is idle. however, TO discuss
propositions until we hear from the adj
ministration and that body Of eminertly
wise men known as the monetary COM
MISSION which has f'een holding it's SEES
sions in this city. That commission. al
Though holding no official status, has been
indorsed by the President, and the work
Of the convention that created it was an.
proved Ey the executive. The object OF
that convention and the labors OF the
commission are directed toward the es-
tahlishmcnt of policy and the enact.
ment OF Legislation that shall declare I'M
euuivocally for the gold standard in the
United States. This is n hone that will
never be realized
The Republicans are going about the
study of this question in the wrong way.
They are not honest. They deal with it
purely fr0m the standpoint OF expedi-
on H.
ism as necessity in order to save the
party from loss ut the hands of the
voters. He represents the ser timents cf
that part of the Republican party which
would 10 something for silver if IL were
Imperative to save the party, and leave
silver alone AZ long as the elections could
he carried without it. Representative
Henderson, of Iowa, in II recent interview
is quoted rs saying that, unless some
thing is done the Democrats will carry
several of the Congressional districts i'm
his State and sweep it at the next gen
eral election. Neither he nor Mr. Chan
der, nor any other Republican, suggests
that anything he done for silver because
to do it would be the right thing to do.
They want it done in order 10 head of
the possible results CT their failure to do
something.
There is not II Republican to-day who
discusses the money question honestly
Ih2y even nisrcpreSent the facts and dis
tort statistics. The obje:t OF declaring
for the gold standard is &c contract the
money OF the country aud make it the
easier for them to corner it. They con-
tend that SIC now have SG00,O00, 600 in
gold in this country. There i, nothing
like that amount in the Unite,. Stntes.
1t cannot be shown. Treasury officials
f,Afn Il.
like Sl00.00D, 000 and then estimate
5000, 900, 900. For the life of them they
cannot conceive of such an amo"nt being
within reach.
They tell us the trouble is there is too
much money in the country, and point to
the money lying idle in the banks 1t is
IDLE because the money of the country is
being boarded and is rot being usel in
the purchase of anything that represents
the productive capacity of the cour try.
That is the only reason why money is
boarded and why the banks have it in
their vaults. 1t ought to be invested, and
under suitable conditions il would be.
These same men tell us we cannot alb.
soro any more silver than we now have
and thew have distorted and mi: used fig
urcs 10 show that France now has but
four hundred millions of silver. In 1888
tue reports of the director of ourss''mint
showed thar that country had seven hun
Gred millions of silver, and the former min
istcr to France, Mr. McLane, stated that
he had no doubt but that the silver in
circulation in that country aggregated
one thousand millions defy any man
to show where France has lost the large
amount of silver from her circulation
now claimed by the Treasury officials of
the United States. If France can absorb
silver to this extent why cannot this
country add to her circulation by issuing
more silver: There is absolutely no rea-
son why we should not and the financial
problem will never be solved until we do
1.-The present scheme OF the ahministra-
ton appears to he to retire the green
backs and LET the national banks make
up the amount lost by the withdrawal of
these notes from circulation. Such q
proposition will never receive the sanction
of Congress. If it came to direct vote in
the senate it could not pass, for there are
certain Senators, whom it is not necessary
TO name.who would not dare to vote for It,
In the first place, it is foolish to suppose
that the national banks would increase
their circulation. To retire the green
backs and Treasury notes means con
traction of 5000, GOO, 000 The circulation
of the national banks is less than $3.50,
OO0,O 600, and If any man believes those in
stitutions would swell that circulation to
SOU, 0OO, 900 and guarantee to redeem
every dollar of it in gold across their own
counters. he is financially unsoual and
mentally insane. 1t would not he done
If required By law for the hanks wnuI1