New-York tribune., 1899-07-21
WHY NOT USE MORE GOLD?
TREASURER ROBERTsS PERTINENT
QUESTION TO MARYLAND BANK
ERs' ASSOCIATION.
srRoNa REASONS FOR WIDER CIRCULATION OF
CoIN-oBJDCTIoNS EASILY SET AsiDE-A
PRECIOUS LINK TO BIND OUR

sTRONG REASONS FOR WIDER CifSNOb>Ai0'' W
coIN-oBJpcrIoNs EASILY SET AsIDE-A
PRECIOUS LINK TO BIND OUR
NEW POSSESSIONS.
oosar r,v Nd July e-The fourth annual con-
went,on Of the Maryland Bankers Association as
sembed in the pavilion OF the Atlantic ho'ei a.
noon to-day. The president, Dr. j. W. fie.ine' -
Westminster called the convention 10 orueI az"
Introduced Clayton J. Purnell. Mayor OF ocea"
C,,, ,rho welcomed the delegates II. II. Hanes.
r-ss,dent Of the National Bank OF Rising sun
responded TO the remarks OF the Mayor "i
which President Herring delivered ms "'lua
dress In the course OF which he hKeneu ,'ie az
fairs Of the banker and business man 10 .'o ~
.,ant,c Ocean-"now placid now boisterous, no"
calm now swept by the raging storm Io-oay MS
smooth as a mirror. tomorrow rolling i's nuso
u,sves like a procession of mountains oer'ai,
,avs" he said. 'Tnexorable in their character anu
exact in their operation, move the great n''S' u
the sea as we'll as business affairs
"1, "a a dIaicult thing TO determine. he con-
,;nued (Which is the more dangerous TO the ous'.
ness community. period OF adversary vi p ~
of prosperity Such a proposition seem'' -,
It's face. TO be absurd. and yet IL Is ho' ,, .ha,,
ness adversely, or hard times as we can '"e.l;
alwsys beget great carefuness OF acuon' "'N
may not be altogether an unmixed evil
.Tt e fact that even the most cautious anu
conservative men when eVerythins 10 80
aood tide are apt 10 relax the laws which 'ne'i
conduct ~ safe business. At such times specuia-
ton becomes rife. All manner or enterprises 'e
entered upon There is n mad rush ioE iaP'u o.
cumuation wild chase to get some'ni"s w
nothing Finally tEe wheel OF fortune tuins. o"'
after another of the bubbles burst. one aiter an
o,har ~ the air castles vanish. The pendulum no"
begins 70 swing 10 the other extreme. Then come
hard times liquidations bankruptcies anu d" '"o
bitter fruits of reckless sowing.
"It seems 70 me the important lesson for us 10
that and is not confined simply to an uhuers'ahu-
tne ~ how men may best conduct themselves IN
hard times but to the broader question as no" u
so use good times that the coming OF nara unes
NAV be prevented. Everybody VIII say that an
ounce Of prevention Is worth pound Of cure but
my experience physician Is that the average
man would rather take pound OF cure than use
an ounce of prevention
State Senator J. Writ Randall. president OF the
Farmers National Bank OF Annapolis gave an
exhaustive and interesting review OF the history Of
Colonial currencies az the conclusion of which re-
ports OF the officers OF the association were re-
ceived.
An address on the use OF Gold Coin" deliv-
cred by Ellis H. Roberts. Treasurer Of the United
States. In part, he said
For the moment let US speak Of gold not as
synonymous with all wealth. but of that metal IN
fits use coin, The theme has immediate interest
by Of the rapid @ and steady sncs Inv IN
1893 the gold in circulation has grown by S62 lOO5Is.
an4 aG hf has ae' BECOME about be ss highest
figures in our annals. Such an increase IN the
mand. real or alleged for additional circulation.
gives vital form to the question, Why not add TO
volume Of tnited States, notes is dehnitey re-
saSd SILVER dfs In the TTeasy noT the
Treasury notes run beyond the bullion held against
circulation ss45l gs4 from July 1895 to June, 1899
are now steadily drawing in their notes. making
thus far this month OF s216 800.
Practically. then without legislation, the
gold coin. Bullion may, for the purposes Of the
s oS take yed the place D6 Of he OF
at the rate of more than $. 10000 month. aud in
SSs the @ bankers about gold
coin is not Can you get it? but, WIN you use 1t?
ures show that an affirmative answer has been
dered In considerable degree, with some protest,
eSessy % Pd s 10 be- h sFss ss %
this part of the country prejudice exists against
the fG
weight Of n at ss o1 cens on h Pacs @
& sr, sa S a to the dgmr and % 6s 6s bank
yenent in daily transactions. Those who travel
IN Europe testify also that the British sovereign
are in constant circulation in all countries. as is
silver coin
While gold may be abraded in handling paper is
masters in the Philippines asked FOR the shipment
of that country had almost utterly destroyed 800.
600 in paper Frequently the Treasury Is called
Surnsd fSe by fire. % Only Heavenly % pa does
moth not corrupt and abrasion or rodents wear
The stock OF gold in the United States exceeds
msed n 'bs sS%a pf e@a s'
@ ton France, witt With the next p % iarsest stock So. $50
n exceeds esd Rs,n s IN its o per Saa c3Ds p al 81 @ The
So per cent in GeT%any fssS and in France 3 s.
Germany Sl2 B Nowhere in all the world Is the
influx OF the yellow metal SO great & and S nowhere
money. Why not into actual circulation. into the
session put the Nation clearly; definitely and per-
manently on a gold basis; Does not that mean
count? 1t must purport that all forms OF currency
shall be exchangeable into that Of the legal stand
coin have place In domestic circulation in
order that It may be brought more and more into
supremacy and may intrench itself in our pos
sessions to bind them 10 the Union with the most
Our financial system is old homestead in
which the family has grown up. IT was, was never
a story here; a wing there and an annex yonder
have been added need has been urged. Any
and we must live in the old house while any
changes are in progress. We are 70 rebuild on
we not begin TO reconstruct that system by laying
for II the surest cornerstone. by underpnning II
at once by real strength. proof against any peril:
which the wisdom OF man has discovered. the very
excellence OF all finance. the metal which In all
lands is the synonyme Of wealth-gold coin?
MORE TALK OF MILL CONSOLIDATION.
Fall River Mass July 20 (speciaD.-The talk OF
combination Of all Of the cotton mills In this
more seriously than before AS yet nothing has
been heard OF In the way of a definite move