Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1898-01-06
SOUTHERN OPINIONS.


the bankers convention held at At
lanta, Ga, on the 10Th Of the present
month, and have expressed the belief
that it would prove potent voice for
good in the coming contest for sound
money. Our ballet was bottomed IN
the fact that the banking fraternity in
the South has never been exposed to
any rancorous aninosity among the
people Of that section such az is said TO
sxist against tho same class in the trans-
Mississippi region, but is respected
and deferred to IN a marked degree by
people in other walks Of life. This fact
hAa been corroburated by the tone of
tina Southern press since the convention
adjourned. Among the comments which
have fallen under our notice, we select
tnose of two characteristic newspapers,
the Macon Telegraph and the Atlanta
Constitution. But before examining
them we will advert once more to the
ideHs advanced by the convention itself.
Chief among these were resolves to:
Take the banking business out OF
politics.
"lake the government out Of the
banking business.
'Avoid the expense and dangers at
tendant on government issues by the
retirsment and cancellation of the
greenbackH and Treasury notes of 1880
by the Substitution OF hank notes.
To keep every dollar of our cur
rency good enough TO pass current in
every land.
ITO increase the amount Of gold and
silver in circulation among our people,
To reduce our eight different kinds
Of money TO only two, viz, specie and
bank notes.
ITO protect note-hoders and deposit
tors under just and equitable Federal
law and supervision.
To make all banks equal under any
law OF the United States providing for
banks OF issue.
ITO prevent bank note and currency
faniine.''
1t is true that there is nothing said
here about the single gold standard,
but, on the other hand. there is nothing
said about silver at l6 to l; aud, since
everybody in the South ia supposed to
he dying for this, its omission must be
considered tantamount 10 its Gondemna-
fion. The whole drift and purport of
the resolutions look TO the improvement
of the currency and the final settlement
of it by business instead of political
methods, by bank notes instead of gov.
eminent notes, by commercial instead
of legislative action. "Take the
barking business out of politics: take
the government out of the banking
business" Nothing could be more
practical or less ambiguous than these
two demands. "Ayoid the expense
and dangers attendant on government
issues by the retirement and cancella-
tion of the greenhacks and Treasury
notes OF 1890, by the substitution of
bank notes." Such declaration five
years ago would have taken the breath
away from all Southern politicians,
with two or three exceptions. 1t would,
we are obliged to confess, make many
Northern ones gasp to day.
To our surprise, We find an article
in the Atlanta Constitution, moro than
a column long, under the caption "a
Long Step Forward, . commenting the
action of the convention as whole
Although it does not approve of the
retirement Of the greenbacks, it con-
sidsrs that a minor matter in compare
son with the reform of banking methods
by the substitution of circulating notes
based on assets of the banks instead
of government bonds. This it calls
the Democratic plan of currency re-
FORM" a claim which We shall not call
10 question il it supplants the Bryan
plan OF silver at l6 to l.
The Macon Telegraph adopta more
positive tone. II says that the bank.
ore convention represent the business
interests of the entire South. and that
there is practical unsnimity among
those interests in sustaining the A E.
lanta resolutions. The only opposition
to them is among tIe urthinkiup
classes and the politicians VINO pandei
to them. These men, although they
make more noise than any others. dc
not represent the moving forces of the
south. The following paragraph from
its article 10 full of encouragement:
The report iH abroad that the South
is all on fire for free.silver reputation.
The truth is. among the Intelligent
business clasHes-among those who have
no political aspirations or inclination
the man on fire for free silver car
scarcely be found. No. The man or
fire for free silver--if he is well in
formed-'is art 10 be on fire with 1
consuming desire for an Office. We ga,
this with due regard and consideration
for that large class OF editors and otheI
people who have struggled to acquiesct
for the sake Of regularity, and who
have at last nearly convinced thnm
selves that perhaps it will BIO best IL
accept this rather than to fly to othe
owls. We violate no confidence whet
we record the fact thar a Southern
editor of note recently said to a frien(
that be had told the d--n lle' so muci
that he was beginning to believe il. ;
The Galveston News, another i'm
portant Southern journal, welcomes thu
Atlanta resolutions, which, 10 thl
opinion of its editor, "ahow that bank
ing as a science must be founded il
America as in other commercial nation
upon the same fundamental principles
which have no reference 10 the riau O.
fall of political psrties.'
Tbe Significance of these comments
resides IN the fact that it is not i'm
possible TO detach the Democrs ii,
party of the South from the free silye
issue and bring il back TO its anciep
mornings, lie which case it would hav,
the fairest prospects of SUCCESS in tbl
next presidential election. When til,
party planted itself ON the bastart
issue OF ZIG to ]" il threw away tn,
States of New York., New Jersey, Con
necticut, and Maryland in order I,
grasp the votes of the trans Missour
States. Perhaps New York would hav
been lost in 1896 in either event, sesin,
that the panic of 1893 and the sui,
sequsnt hard times had taken plac
during a Democratic administration
But the situation is considerabl,
altered now. Ths prevailing ideas o
the panic and hard times of Mr.. Cleve
land'a term Of office have changed. Tn
fact that thnaa trouhlaa hod +h n, s.;.:,