The times. [volume] (Richmond, Va.) 1890-1903, 1899-08-18
FRIDAY. AUGUST IS. 1900.
LEKoI s'ANIUsE.


those newspapers that suppose they can
dispose OF the Times matwely considered
propositions I'm government with a jest or
n rlbe It is always well for contio-
yersatlalists Of THIS order to consider the
ground carefully before they step or they
may find themselves like that foolish
woodccck. caught in his own syringe.
The Nlreinian Pilot has this to say OF a
recent article ia the Times:
The Richmond Times. discussing re-
form IN banking. urging the repeal OF the
ten per cent. tax on the issues OF state
banks. says:
Have the notes Of each state Of DIFF
fcrcnt color. and have the name OF the
state engraNed in large letters upon the
front ana back OF each note so mat as
soon as the eye rests upon II, IL VIII De
known In what State IT Is issued. Make
ST a felony TO attempt 10 pass a holc OF
one State in another.
And that IS the idea Of the Times or
a. state bank! The notes of each state
of a different color: there are 45 states
and only seven colors. The problem is
dlfflcu3t: for shades Of color would hardly
answer fully the evident purpose or the
Times; but there could be combinations OF
color; yet unless there can be a dlller-
cnt and distinct color for every State. the
project will lead 90 endless confusion.
Where and how will the Times provide
the 80 extra colors nature has failed 10
supply7
But the Times IS ferocious in advising
that any attempt 10 pass a note OF one
State IN another should be felony! How
can that be, anyhow Shall Virginia
pass her own State bank-notes. and make
a a felony for q citizen of North Carolina
60 attempt to pass a bank-note of his
own State IN Virginia? II State cannot
pass such a law, can Congress? The
1st clause. section 2, article y, of the L.
S. Constitution says: THE citizens Of
each State shall be entitled 20 AN privil-
eyes and immunities of citizens in the
several States"
II Congress attempted 90 enact any such
law as TO State bank-notes. Il would
equally be an attempt 10 deprive citizens
Of the rights guaranteed by that clause.
We advise the Times 90 study the bank
Ing refCvm over again. We know some
gentlemen believe they inherit AN knowl-
edge about money and banking. but we
know they do no such thing. by long
odds.
u Is hardly necessary TO say anything
about colors. The possible combinations
Of seven colors would furnish a different
colorlng for the notes of many more
States than We have in our Union and as
long as one note differs from another
through combination Of colors 1t IS as
distinctly marked from the other as II
each was in solid and separate colors.
There is no difficulty therefore in having
the notes Of each Of our States so colored
that the eye VIII detect at once what
State a given note comes from.
Let as now attend for a moment TO the
claims that Congress may forbid a ciu-
zen Of New York 10 circulate a Virginia
note in New York. in the case Of
Veazie Bank VS. Fenno Sth Wallace 533.
the Supreme Court Of the United States
held that Congress might forbid the
banks OF the States 10 issue circulating
notes by imposing upon the notes a tax
so burdensoine that The banks would be
unable 10 pay IT, in delivering the
opinion OF the court Chief Justice Chase
after having argued TO prove that the
constitution intends TO commit the control
OF an the money OF the country paper as
well as coin. 90 Congress. says
Having thus. I'm the exercise Of un-
disputed constitutional powers. undertaken
o. provide a currency FOR the whole c0un-
try. 81 cannot be que toned that Com
gress may. oonstitutionaly secure tine
benoG. Of q 70 the people by appropriate
LEGISLATION. TO this end Congress has
denied me quality % legal tender 20 for
eign coins and hast provided by law
against the imposition OF counterfeit and
base coins on tho community. To the
same end Congress may restrain by suit
able rc-enactirents. the circulation OF
money OF any notes not issued under SIS
own authority Without this power. IN.
deed its attempts 10 secure a sound and
uniform currency for the whole country
Iangt De f1tle.
This language S. expressly reaffirmed
by the Supreme Court in Bank vs.. u. s.
lDi. ". Sc and IN Holislcf vs.. Mercan-
tile CO.. III w. S. g.
n then n Is the duty OF Congress TO
provide paper currency OF uniform
value Tor all parts Of the Union aud In
doing 10 Il is authorized 20 forbid the
anks Of the State absolutely to issue
their notes. Is II 10 be said that II may
nat 1s<lait q Stale TO issue its notes for