Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-19
SATURDAY. FEBRUARY 10, 1898.
CURRENCY AND BANKING REFORM.

The Emporia Messenger. in comment
ing on Mr.. William r. Trigg's open letter
to Governor Tyler. published in full in
Tuesdays Dispatch. and which analysed
and explained the plan of currency re-
form submitted by the commission OF the
indianapolis Monetary Convention, says
that the paper will repay careful eXami-
nation. While. adds the Messenger, one
may not agree with all of Mr.. Triggs
conclusions. that gentleman furnishes a
splendid array of facts and figures TO sus-
tain the position he takes. and proves
that the working of the plan would be the
same in all the States.
As we have frequently said, we do not
expect this Congress to do anything with
currency reform. All other considera-
tons apart, the dominating political
element in the body is in the hard and
fast grip of the advocates Of the existing
national banking system. which Mr.. Trigg
denounces as being. and proves to be.
totally inadequate TO meet the business
demands Of the country and afford the
financial relief essential to a restoration
of permanent prosperity. The only hope
for currency and banking reform lies in
stimulating the masses to thought on the
question. to the end of bringing about an
irresistible pressure for reform.
No stronger argument could be adduced
I'm support of this view than is presented
in the February No. of the Bankers
Magazine. An editorial article in that
publication, discussing the proceedings
of the recent meeting of the indianapolis
Monetary Convention, held TO ratify its
commissions currency reform plan. says
that to any one who. without prejudice,
studies the principles of finance, it be-
comes more and more a matter Of sur
prise that there should be $50 much pre-
judice and so much inertia" TO overcome
before currency reform can be attained.
1t is, continues the article. astounding to
be forced to see that the opinions of
those who have studied this subject, ana
who have had experience of all its prac-
ticaI bearings during their lives, and who
are men Of character and reputation, are
so little regarded The article then calls
attention TO the fact that numerous es-
SenDlleS OF DuSlutSS-intH anu hudicltiS
have passed resolutions touching bank
ing and currency reform that were full
Of practical purport, but they have
hitherto, il a0ds, found it almost impos-
sible to get their elected representatives,
in whose hands the making of the ne
cessary laws rests, to pay any serious
attention. it is as surprising, says the
article in conclusion, to find so much cp-
position TO the best plans for currency
reform as it would be to find opposition
to the multiplication table
Substitute in the article for $50 much
prejudice and so much inertia" the words
80 much Wall street and northern none
tary centre influence and the necessity
for intelligent and persistent agitation
by the masses will be all the more ap-
parent. Such articles as that Of Air.
Trigg's have a distinct value entirely re-
gardless of the question OF ones agree
Ing or disagreeing with their conclusions. J
because they cannot fail to command the |
attention OF thoughtful men. impart vigor |
to the agitation of currency and banking !
reform, and emphasize the vital neces-
slty for application of the pressure for |
reform by the people.