The times. [volume] (Richmond, Va.) 1890-1903, 1898-02-23

IDcrtyf the TO per cent. tax preventing
people doing with their own as they
would, not allowing them 20 use their
credit. / am for the unqualified repeal
OF the tax. but this cannot be secured
now Uhough perhaps later. for q very
large majority Of The people Of all Sec
tions of the country oppose it-thcy have
drunk deep OF the poison Of a note good
everywhere and they viii not resign 1t,
and so I have long determined TO em-
brace a modified repeal. ~ ever offered
the more liberal the bettcr-and ! am
mere 10 confess that my expectations
were surpassed in the plan adopted by
the Indianapolis convention on the &th
ultimo. 1 ann on the Executive Commit
tee Of that body and would only be too
happy 20 feel that It's plan would soon be
tho law the land-hut the obstacles are
many. The plan could perhaps be im-
proved. but when 1 found myself az the
convention with two pages Of susges-
lions and discovered that each OF the 400
delegates had as many amendments as
I had TO offer. / concluded TO take the
work as i found II. and really il does
very well. and suits the wants OF our
people. / think admirably. Through st.,
we would soon reach absolutely free
nanEne-that is banking upon assets un-
der government supervision, which super
vision is perhaps essential since the note
issue IS guaranteed.
FREE BANKING.
return TO free banking-a panacea
indeed. When ] contemplate the posi-
binty of that. words fail me to express
my feelings. 1 would rather be The agent
90 bring this about. as a good for our
people than 10 achieve any other dis
tiucton Under free banking the South
absolutely outstripped any other Sec
ton OF division of the Uni0n-n0ne had
their fiscal affairs better in hand. The
preJuCiccs against autc-bolILm banking
are due almost wholly 90 the experiences
in the newly-settlcd West. and the cruz
dities there were fast disappearing when
the war begun. New England leading In
the Suffolk system OF ready redemp-
ton. with growing accommodations.
improvements I'm methods was the order
OF the day. We an know, either from
memory or hcarsay. of the peerless men
OF affairs. whose names are synonyms OF
an we would have our merchants TO be
names rcverenced as patents OF nobility.
who managed our great banks-the Viz
ginia. the Farmers, the Valley, and many
other banks whose notes brought quite
a large percentage of their face value
after the war-indeed, these notes stand
alone as the only things that did sur
vive the war. but they could not save
nor revive their parents-the banks them
selves they were stricken down by the
National Banding law that made the
tree bond. lust as President LincOln's
proclamation made the bond free. and
contend more harm has come from this
oampered tame cat" law than was suf-
fered from the wild cat" law many
many times over ana at last So has di-
vided our people; but THIS seems de
erosion and plainly. am on my hobby.
MONEY IN POLITICS.
Although the Indianapolis convention
was nou-poltical and purposed only TO
oner a measure that vas for The good of
an, [ feel almost in despair at having
DC so considerod-moncy is 90 politics
Inc adoption Of the gold standard cree
ates alarm I'm the miLds Of many and
yet this does not mean gold monometal-
ism. CAS- projected at Indianapolis for. as
YOU viii see from some figures / will give
later land recently published. although
GOLD is nominated" Ii is measured In
many millions OF silycr-ncarly go mill
ions. each voter in this country being
supplied with an average OF FORTY meas
ures WIKI ESQ millions of gold and $40
millions of silver, interchangeable, and
with the right 90 issue notes upon assets.
which 4 estimate may reach on occasions
1000 millions makes a money monopoly
impossible without doing away with the
money center so useful for the settle
mcnt of tradc. and 81 we can DO away
with the money monopoly. then gold has
no dread and free silver no charm-indeed
I consider the plan as a net triumph, for
silver men. offering more than they ask
cd. and that without any sacrifice of
party fealty. This IS a case Of crying
peace when there IS no poaco-whilc dis
claiming politics. ] am talking politics.
AN AUGUST GATHERING.
This IS an august gatherlng-the bank
crs of Virginia. Presenting its member
ship represents all the institutions of the
state. ono hundred and twenty--thirty-
FIVE national and eighty-fve state banks.
with "a capital Of $l03G00o0 with sur
plus of 6.05lO00. With individual deposits
OF sen 137. 900: with loans OF S32.3 $500.
What a power-for good. What would
Mmit their helpfulness to our people, n
untrammelled boy laW-f0r whether state
or national. the men who manage them
have no thought but to serve their state,
and 20 maintain her glory and I'm this
connection i viii say that In speaking
derstcod that / mean banking on as
sets" in which the National ana State
banks have common interests know H.
difference between them. ] venture, Mr..
President, to make this suggestion. that
this meeting when Il adjourns, adJourns
20 meet here six months from now, 10
organize for frequent meeting" many
mickles make q muckle and The pre-
siding officer OF this body Yields great
power. and he will always use 1t for the
benefit Of the state whose people, since
they entrust him with thrty-two millions
az deposts-will they not trust him to
devise some plan 20 relieve them of their
present dissatisfaction with the currency
LAVISH / stated before the Banking and
Currency Committee Of Congress over "a
year ago that the Government itself
from q financial point OF view, had not
The power for good that your debarred
State institutions possess; as they stood
ready to expand IN usefulness 20 the peo-
pie. under an amended law, and as soon
as the unjust discrimination against them
Is removed
Mr.. Triee then read extracts from the
account Of his speech before the Banking
ana Currency Committee Of Congress
about q year ago. In regard TO the Loco
motive Works having Issued large
amount Of script during the business de-
preston.
on motion OF Mr. W. NJ. Habllston
vote OF thanks WAS rendered Mr.. Trigg
for his address.
Mr.. Virginlus Newton then addresses
the Association. lie said that he
thought that IL was desirable that the
Indianapolis plan should be endorsed by
the Association. but he thought that
such an endorsement should be unani-
nous. He hesitated 10 mako that mo-