The times. [volume] (Richmond, Va.) 1890-1903, 1897-02-06

would have TO meet the demand or 20
| out OF business as broken bank.
| But our correspondent borrows very un-
necessary trouble. Men must have rea-
sons for their conduct. Why should
broker go 10 work to collect up Il bank 3
notes just to ruin 1t? Brokers have no
enmity TO banks On the contrary, their
feelings and sympathies are all with the
banks The case suggested by our cor
| respondent would be one Of a pure desire
10 innict a malicious injury on a bank.
and very few brokers could be found
who would want to do this.
But IL fiendish broker cound be found
who desired TO injure bank in that
way he would find himself surrounded
by difficulties in executing his project. II
the State Bank OF Richmond. for instance.
had its natural right and liberty TO issue
its notes they would at once get scattered
all over Virginia. a broker who set him
self to work TO collect up enough OF these
TO embarrass the bank would ind II a
very difficult matter. a small amount
Of these would cause the bank no incon-
venience. because it would always keep In
its vaults enough gold TO meet any but
very extraordinary demand. But II the
malicious broker were bent upon his pro-
ject of mischief and went on pursuing his
aims in spite Of the difficulties he encoun-
tered. the bank would be certain TO learn
that a plot OF that sort was on hand.
The bank has transactions with people IN
every department Of life. Some one would
be sure to let IT know that tile fendish
broker was collecting it's notes. II would
therefore 20 TO him and ask some eX-
PLANTATION Of his conduct and If no sat
isfactory explanation were forthcoming
the bank would begin to prepare itself Tor
his raid. 1t could procure any sum OF
gold it wanted in twelve hours fron New
York with money borrowed upon its as
sets and on explaining the case TO the
Richmond Clearing House, every bank IN
the city would make common cause with
# and lend it its gold 10 tide over the
demand until what it had telegraphed to
New York for arrived.
In these days Of rapid transportation
of bulks and communication OF INTEL
cence by steam and electricity, 1t is we'll
nigh impossible TO corner really sound
institution that has good collaterals TO
put up for what It wants.
our correspondent fear of gold being
sent out of the country and our being
left bare of it is totally without reason.
Gold is like everything else. 1t goes
where there is "A demand for It ana 10
people who are willing TO pay fort. III
we needed the gold we would be WILING
70 nav TO keep it here, and foreigners
would have TO bid higher interest rates
than we were willing to pay before they
could take il from us. We would bid ac-
cordinp 70 our need for it. and that would
always keep as much Of it here as our
affairs required
We commend our correspondent 10
reflect upon the fact that gold stand
ard England. that does nearly as
much business as all the rest
Of the world. has only about s2oO.Oooooo OF
gold as a reserve for all the inconceivable
transactions Of the British Empire When
there is no threat of interfering with the
standard Of value by putting out hity-
cent silver dollar no one ever wants
cold People do all their business by ex-
changing credits.