Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-12-09
REASONABLE SKEPTICISM.

In discussing the annual report of Sec
retary-o f-the-Treasury Gage, the Phila-
delphia Times says that the more I'M
portant part of that report is Mr.. Cages
argument "for the substitution OF a ra-
tional system of banking currency for the
present utterly irrational, unbusiness-like,
and dangerous system of paper money
issued by the government" The Times
then advances the opinion that Mr. Cages
detailed explanation of how the present
system works, or fails to work, and how
the better systems of some other coun-
tries operate automatically ought to prove
instructive to such congressman as are
capable of enlightenment, but in conclu-
sion expresses the fear that Congress Will
do nothing in the matter Of currency re-
form.
And we doubt not that our contempt
rary's fear is well founded. 1t has good
reasons for its skepticism. Whatever
may be the merits of Mr.. Cages plan
and theories. the standpoint from which
he discusses currency reform leaves little
room for questioning his sincerity. He
discusses it from the business stand
point. and from the standpoint OF the
legitimate functions Of banking.
But in the matter of currency reform
It has been the policy of the Republicans
TO keep the word of promise to the ear
and break it to the hope. Their assur-
ances that they intended to give us
banking and currency system that would
meet the demands of business and the
necessities of the masses have been
case Of great cry and no wool. AS eX-
perience has shown, their agitation OF
currency reform, within their own party,
has always been directed to the end of
playing upon the credulity Of the people
and dividing the Democratic party. in
the past the Republicans have sought TO
use currency reform" to strengthen Re
publican fences for coming elections, and
be Mr.. Cages ideas never so sound, prac-
teal. and practicable, there is little rea-
son to expect anything different from the
new agitation.
Another consideration that initiates
against the assumption that Congress Will
make any honest effort to solve the cur
rency and banking problem is found In
the very objections Mr.. Gage urges to
our present financial system. He demon
strates that that system operates solely
almost in the interest of the class upon
which Hanna and the other Republican
campaign managers depend for replenish-
ing their campaign barrels.
So we repeat, that our Philadelphia
contemporary has good reason for the
skepticism that is in 1t. AS We see IT, the
only hope of the masses and of business
for the relief that is involved in a change
in the present banking and currency
system lies in Democratic ascendency.
The influences that environ the Republi-
cans in the present Congress, and which
will environ those in the next Congress,
no less than the history Of Republican
Juggling with the issue justifies this view.
At the same time we would say that If
the Republicans purpose meeting square
" the responsibility that is upon them
and settling the question upon a Dus-
mess basis, we shall not be disposed to
throw obstacles in their way In any
event, the policy of the Democrats should
be TO hold them TO their responsibility in
tba rreniseg