Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-08-24
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JOINED TO THEIR IDOLS.

Through the washington correspond
ents the matter OF banking and currency
reform has in the last few days been
again brought prominently TO the 'front.'
and there appears TO have been sudden
! agreement among a majority Of these cor
respondents that radical changes In the
existing currency and banking system
seem likely to be required in the near fn-
ture by the inevitable course OF events.
The language quoted is that Of one par
ticular correspondent. but the SAME Idea
| is conveyed by host Of his brethren. In
! deed. in so many Washington letters ana
| specials does similar declaration ina
place that 1t suggests one grand centrai
| fountain Of inspiration.
| Another point on which the correspond
ents are suggestively unanimous Is that
| the entire subject Of currency and panh-
/ Ing legislation will come before Congress
this winter. Many reasons are given why
! this should be the case. Some Of these
represent threshing old straw. Others are
new, and among the latter is the 'neces-
slty OF adjusting our banking system 10
transactions with our dependencies.
There is no question that radical
changes I'm our currency and banking sys-
tenn will be demanded in the near future.
In fact, such changes have been demand
ed for a long time. They are a demand
of the business necessities Of the country
They involve better banking facilities Tor
the masses, more currency, wider DIS
tribution Of currency and assurance
against the power Of financial manipula-
tors TO congest the currency at will in
few monetary centres. Nor Is there any
question that the possession of dependen-
cies will demand changes in our banking
and currency system.
Nevertheless we can but look with de-
cided suspicion upon the present vigorous
revival Of the banking and currency re-
form question. We can but remember
that a congressional election is just
ahead Of us, that the Republican party
must recognize that the currency issue
will not down, and that that party has
all to gain and nothing to lose at the
polls in November by resorting to its old |
dodge Of trying TO delude the people into |
the belief that it intends to "do something |
with the currency" For the most part |
the letters and specials on the subject |
of banking and currency reform that are |
being sent out from Washington have |
decided Republican campaign document |
flavor.
The fact is that, so far as is concerned
any hope of real banking and currency |
reform the situation is to-day exactly
what it has been for years. The domi-
mating element in the Republican party
the element that supplies the sinews OF
war in the party's campaigns-is as much
welded now to the present banking and
currency system as it ever was. Repub-
lican promises and show or interest in the
various reform schemes TO the contrary
when 1t comes to the
test no Republican Congress is going to
make any material changes In the existing
banking and currency laws. The radical
necessary to the prosperity OF
the masses and permanent improvement
in business will never be realized until
the people, having awakened thoroughly
&c the fact that the Republicans are
Joined to their financial idols, shall return
the Democracy to power.