The San Francisco call., 1897-04-13
COL, IRISH WANTS
MORE MONEY!
Not for Himself, but for
the Industrious
Farmer.
Money Is Congested in the Very
Large Centers Of Com.
merce.
A Reform in the National Banking
Laws Dem anded for the G,od
of the People.

Naval Officer Colonel John P. Irish has
returned from a trip to the East, whittier
he went as a delegate to the monetary
| convention at Indianapolis.
Colonel Irish arrived here in good
health and spirits. and more in love with
California than ever. he left the East
last Tuesday and found bleak winter from
north ana west of Baltimore until he ar
rived in California. While away he paid
good deal of attention to the financial
problem, and gathered many interesting
| and important data.
| Business men of the East say that the
| revival of business prospects must be
| based upon reform in the banking and
| other laws. The monetary conference
| asked that Congress, by joint resolution
| or bill, authorize the President to appoint
monetary commission, consisting of
eleven citizens, to investigate the currency
and banking legislation of the country,
which has been mostly emergency legis-
lation since 1862, and which has resulted
in an inadequate banking system.
Business men have concluded that it
is their duty to take up the matter and
secure legislation that VIII give US more
suitable banking system that will do equal
snd exact justice TO every part OF the
country and to every class of business, !"
added Colonel Irish. "Our present sys-
tenn is failure as an instrument for dis
triputing surplus capital so that it may
be in reach of all business men in all
parts of the country. Equity requires that
all business men in all parts OF the coun-
try shall have equal convenience and ac-
cess to the use of their credit III their
business.
''It is the lack of this access that has
given rise to the prevailing error that
there is dearth of money in the coun-
try. There is no scarcity of money, but it
/ is congested in the big centers, where the
merchants and manufacturers have cheap
and convenient use of their credit, while
business men who are far away have not.
There should be no reason why monev
| should be plentiful at a per cent in New
York and scarce at 10 per cent in Texas,
where there Is a structure in distri button.
1.-The committee has every assurance
that Con gress before the ad djournment of
| the session will give to the President the
authority to appoint such a ission,
consisting of experts-men of such char
acter and experience that their conclu-
sionS Will impress the country and win
the favor of Congress. The work OF this
com I'm ission will have behind it the entire
force OF the business men OF the country.
Statistics show that the advance by
the retail dealers in the selling price OF
their goods when they give credit is 25 per
cent. This the farmer is obliged to pay,
and oftentlmes in order to do 1t he has 10
fund his debt in the shape of a mortgage
upon his land at 10 per cent.
"The National banking system should
be made the instrument for maintaining
the currency in circulation instead of taxi
ing 1t out OF circulation, as in the case
now. The numoer of small banks should
be increased, and they should be given q
chance TO live"