Shenandoah herald. [volume] (Woodstock, Va.) 1865-1974, 1898-02-25
FRIDAY. FEB. so. 1898.
They Have Done II.

The papers that were eondemhlng Tic
VIRGINIA Legislature, because 1t had done
nothing, will be compelled to take back
all they have said, and after duly re-
penting of their rashness, acknowledge
that we have a Legislature that has sur
passed all previous bodies of that KIND.
Recognizing the scarcity of currency,
they have passed law that gives to all
our State banks the authority to issue an
amount Of currency equal to one half the
stock of the respective banks The great
beauty of this currency is, that it is re-
de.mable in the royal stuff, j. e. "Mer-
cbandise silver bullion at retail
No gold bug money about it. No
bloated bond holder Of Wall street can
ever expect to be the owner of this cur
rency. 1t is not made for such as ne.
1t is only intended for our own farmers
or business men who can exchange their
products for currency that will be so
elastic that its value will be determined
every day. by the market quotations oil
silver bullion. We can have our own
Wall streets, in every village that has a
bank or is near enough TO one TO get some
Of the currency. 1t will be strictly Nir-
ginia currency, for it will not get outside
of the State, unless, perchance, it should
be shipped as curiosity. What de-
mand it will create for silver when all
our banks buy silver bullion as a basis
for new currency, We will use only the
genuine stuff, in its virgin purity and
unstamped by any king, pOtentate or
Federal government Its fluctuations
will encourage enterprise and specula-
ton. Many will doubtless be glad to get
rid of it. and then all will have chance
10 get some. 1t will never be boarded
by the millionaires, but will be as free as
the silver which Mr.. Bryan proposes to
give the people when he becomes Presi-
dent
The only sad feature about it is that it
may forstall Mr. Bryan's plans, and in
stead Of him becoming the father of the
free and unlimited coinage Of silver, the
Virginia Legislature will usurp that dis
tinguished honor.
Another feature is that it will enhance
the price ofsilver When all the Nir-
ginia banks are demanding silver bullion,
as basis Of their obligations, and the
Klondikes are emptying gold into the
United States, by the shipload, gold will
become cheap and Virginia by the fore
sight Of her Legislature will have the
precious silver of the country deposited
in her banks as basis for the new OBJ
legations.
What wonderful foresight.
Another provision of the bill which
will commend it to all Of our citizens is
that it shall be free from tax. If the
United States should send its revenue
collectors to collect the tax imposed by
law, all that is necessary is for the Presi-
dent Of the bank to notify the Governor
of Virginia and he will lat once instruct
and require the Attorney-General Of the
State of Virginia, to take whatever legal
steps may be necessary to prevent said
bank from the payment Of said tax.
No abridgement Of our liberties will be
permitted. We will have our own money
and if don't circulate outside OF the
State, we can keep it athome. We can
then become an exclusive corporation.
This new currency will be better than
the most protective Of protective tariffs.
If outsiders won't take our currency, we
need not buy their goods. We will trade
with ourselves and have nothing to do
with the outside world. What enter
prises this new state of affairs will bring
about,
When Virginia becomes rich and pros
porous through this new currency bill,
gratitude will prompt her people to erect |
a monument of virgin silver to the
distinguished author Of this new currency |
bill.