The times. [volume] (Richmond, Va.) 1890-1903, 1899-02-23
SECRETARY CAGES ADDRESS.
Full Text of His Discussion Of the Mc
chanism OF the Bank Note.


! Full Text of His Discussion Of the Me
chanism OF the Bank Note.
The feature of the meeting of the Nir-
guia Bankers Association yesterday was
/ the presence of Secretary ol the Treas
ury Lyman j. Gage, who delivered "a care
I fully considered address. bis theme bee
ing "Thc Condition ot Banking, the
! Bank-Note as the Important Feature
and IT'S Mechanism
The Secretarys address was heard
with the deepest attention, and judging
from the applause. the majority OF the
bankers present fully agreed with the
points made by the distinguished visitor.
SLOW UPWARD MOVEMENT
"Whdtever may be the truth as 90 the
order of CREATION said the
/ Secretary. "and the story of our
earth. whether they Were tine esult Of
AN imperial mandate under whose in-
nuence they stood forth. cor whether de-
yelopcd hy slow evolutionary move
ment reaching over period ~ unre-
corded time it is certain that since man
came upon thc -c.ue DIS Development in
knowledre. mlustry and art hts lcen
along the liue of slow upward move
mcut I'm his DeeunIng as "a tillcr ci the
, s0ll he knew nothing better ass TOOL
than the crooked stick lying convenient
7 ..H .f.II
.' ', - -, d.. ,ct,to,.l
I for himself the modern plOw. Ills first
means of transportation We're IBIS own
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DO ODD" ''-'' "'i
were I1'i'77'" 'i u, '"-'. pl p.i '""t'
I'''Ii"' Ioi4. Latter. INC Ii"e u"u'- toph
TO itdirr lH' Injury oi f- il'Iin'i Nf
asserting the power col The united @ho.e.
The ieudal system was step in the
upward movement ana M la3l We see
the JHdi1ia tribunal, Well ORGANIZED
States written laws. ana CONSTITUTIONS.
lu trade and CONNER e the ioiy IS
equally interesting hhd instructive. "r-
ginning n Ia" barter. article for ar-
ucie. There followed later oh. Hy 81 pure
ly natural process. thr development or
crude money "niDh became the inter-
m"diaiy n l1dr. hl iHr refinement ni
rnoite. SLOWLY asserting "7e". one Az
licle AFTER ah"iiri serving i- mus CONS
mon medium oi exchange gave place 20
another oi higher ana bfller FORM. until
at ldsi. over aN inc htullauir globe.
silver ANA gold became ile acceptable
common medium OF eAchtnsr The NAnA-
en- was late Conner lh '"i7 i'ns-arNrI-
oping movement iie began a- mere
changer OF money %" border LAMBS Dee
tween amen l'lD'3' OF dl lHr nounn' aries
between olN'i'N Sl'l'- ana peoples.
IAe eio"lh "i commerce. thr universal
desire oi men ID eNghaner Win each
other the pioiuci- obi their fe-pD' tive
industry more seiiied and less htharic
conditions thr Increased power ti pro-
au'll'i.,, au" ,"r improved means OF