The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1898-03-21

I
iannte or capa5le Ok seif-aljnstTent 10
The ioublle met Yet III prop ton. rs
not less ofIeps II 10 The three leaders OF
the obpoaItion. Who ,Iateiy ccaJesccd In !
O .solnt} effort TO unite all forces hostile
10 the present ord Ii 4, was Lincoln ac-
.tuated by elflkli and brutal lhtesest''''',l
lslicii he Recommended tie gstabllsh-
ineDt of tiofiai sbnnks h Yet Ne said Il
t.''rhe national Danking syRtesii ,yilll
create a reliable and peeingnen i1ilts
ence In Support 81 the national credit
md protect The people against iosscs. in
the use of paper money =
4 in PROPOSING an improvements the
national Banking law have no + been
iunmlnnfrl of d eopapIcpouy example
which history arforyls Or the adya tnge.
which the bnrk note possesses over ~, ~ y,
per money, Issued by the government,
The Bank Of France Is The largest aotc-
.lssulngsbank In tho world, ITS notes are
issued IN proportion 10 the amount ot
lis available assets. II is not required
by law TO hold evidences OF the publlc
debit or, any specific security, and yetits
total circulation amounts 10 not less
than S750O00.ooO. When, during the
Franco Germanswar. specie payments,
were suspended, the world was Furnish
ed ~, example ftthe stability and SCI,
curltR Of notes based on the assets OF q ,
sound bunk.
peace had been restored be-!
tween France and Germany, and a rad
Teal Schnnge had been effected In the
very form OF government itself, the
Bank OF Franco was found TO be as sol
ID as a rock. During tho war II Ind ad-
lyatced to the government no less than
s2so,O00, 900. besides satisfying all the
commercial needs OF the French peo-
pie. i was eblackmailed and partially
plundered by thej leaders OF the COM
imune: yet X remained secure In !ts
strongth amid all the reyerses OF goy.s
ernmert, even when the armies! Of
France were driven back from the
,frontlert TO the gates OF Paris, even when
the French emperor was n prisoner OF
war and his capitalin the possession OF
the enemy, and even when the state II
self was a wreck. II emerged from
chaos at the close OF theswnr, and at.
the return of peace 1t a once supplied
the whole OF France with the means.
for speedily regaining national wealth
ana prosperity. &c. q "a 4, 80 +1-ssf 5ftF
Well might THEIRS, first president OF.
the new, republic, say: .frhe banks
have saved us because 1t was not a
bank OF state" It'suspeDded specie pav-
ments, yettat no time during the war
was gold at a greater premium than 2Is
pei. cent, and mostgof the time Il was
not in excess OF l per cent. Contrast our
own experience from 1862 to 1854. when
In two years our government currency
had deprecated more than 60 per cent
and gold was, in July OF q the latter
year, recorded at -25s. {.
Can We not learn useful lessons from
others? 1slthe, experience OF the world
to be ,despised? Can the stern DEGREES,
carried by the laws OF our. economic life,
be successfully challenged? Can they be
rescinded or repealed by the wild i'm
pulses of the inconsiderate?
= In n free social state the individual
man Is clothed with the power and re-
sponsfbillty of elf-directlon. His we'll
being depends upon his ability to COM.
p:eherd, and his willingness to obey, the
physical and moral laws with which ma
turc has eavironed him. In a govern
ment like our own, similar power OF
self-directionl exists. II is high privl-
llege. Nand carries with II great response
bilities. Like the individual man, the
nations well-being depends upon its
ability to discern and obey the economic
and moral laws which environ It. s We
may congratulate ourselves that. in our
past wonderful history, we have so
well perceived sand-followed the; ways
OF wisdom. Il.
May We continue to- be thus guided
amid the growing complexities OF the
great future!