The times. [volume] (Richmond, Va.) 1890-1903, 1898-02-05
PARTLY RIGHT.

In the course of his speech on the Ha-
waiian treaty last Wednesday, Senator
Thurston. of Nebraska, said:
I'VE have Congressional situation at
Washington which has caused grave ap-
prehensiOn to the business Interests or
the country but which, in my judgment
is not TO be deplored II is now evident
to every citizen, as IL was evident 10
many of US on the first day Of the Fifty
fifth Congress, that no financial legislation
of any kind can pass the two houses as
at present constituted. IL is. therefore,
plain that the people Of the United states
are TO be permitted TO DO business for the
next three years without any possible in
reference by new legislation with mon
etary conditions or financial aiiairs'
For my part. / am glad the Congress
Of the United States is unable TO legislate
on the financial question. The country is
once more doing business; the rolling
stock of our railroads is tested TO its ut
most capacity in carrying our crops East
and our merchandise West; the labor
forces are once more employed; the whole
tendency Of the time is upward and on
ward In the practical business AFFAIRS
of the country We are not troubled about
money or about the system OF money.
The great claim Of the free silver forces
was that we were suffering and depressed
and ;dle because there was not money
enough in the country TO do the business
of the country. We now find that the
real trouble was that there was not
enough business in the country 10 use and
circulate the money Of the country.
81 am I'm favor of giving the country
q rest from threatened financial legisla-
ton and. in my judgment, the man who
at the present time, and under existing
conditions seeks 70 force gold resolutions
through the House OF Representatives IS
no less politically unwise than the man
who forces a silver resolution through the
Senate Give the business Of the country
a chance. Give this countr ythree years
without financial agitation or calamity
prophesy. and we will have outgrown the
money question altogether
We think ourselves it was most unwise
TO have thrust the Teller-Mathews silver
resolutions upon the country, and we
would be very willing to see Congress
say nothing whatever about gold during
the next three years if, by that course,
we could secure a surcease Of all agitation
relating to the standard Of value
But the country has a most serious
financial trouble that in no way involves
a discussion Of the money standard and
that should be dealt with promptly and
failure to take it up and deal with it may
cost the country far more than agitation
can cost it.
our banking system is one devised in
the throos OF the civil war, when the
United states Government was straining
every resource it had TO meet the de
mands upon it which the war made. 1t
was entirely well adapted TO system
that aimed at giving the Government a
grin upon all the resources of the nation
and 1t worked well in period OF war.
But i. Is utterly unsuited 10 vast ter
ritorv like ours. the far greater portion
Of which is rural and agricultural, and,
therefore, wholly out OF touch with the
agencies with which our banking system
operates These agricultural regions con-
sequeutly have no banking conyeniences'
and they are wholly destitute OF a circu-
lating medium that is suited TO the peo-
pie. and that will stay amongst them.
While saying nothing more about the
gold standard or the silver standard.
about a single standard or a double one.
the Congress OF the United States should
address itself. in a statesmanlike way TO
the actual grievances that afiiict the peo-
pie. and d, should so modify our bank
ing laws that the country people may have
that media OF exchange which they now
lack. and which IS 80 necessary TO them.
The complaints OF the people could be put
an end 10 in shof time If Congress
would only treat this phase OF our fnan-
cial troubles wisely. and we should hear
no more of the silver agitation II 1t were
done. We quite agree with Senator
Thurstop that tho country Is on high
road to prosperity In many OF It's parts.
but that prosperity. when in full tide, is