Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-12-02
IMPORTANT ECONOMIC ISSUES.
The views of Weii-Known Rich
ntOnd Banker.
CMr. John L. Williams. in Manufacturer


CMr. John L. WIlIiams In Manufacturers
~ Rcview)
"The building OF q canal across the 18TH
mus has been matter ~ great ifnpor-
lance 20 ours country. and has had the
study Of our statesmen very many years.
The development and establishment Of our
Pacific State-.-the occupancy Of the Phil
ippine Islands that has been thrust upon
us and the expansion OF our commerce.
I'm the East have made he cln1i 10 be now
a necessity universally ACKNOWLEDGED.
have little dOubt that the coming Congress
Will provide for its competitor WIN az
possible speed.
"The very commencement OF the canal
will be followed by a healthy natural ue-
velopment ard large growth OF our ner,
chant marine American enterprise VIII
need no subsidy nor artificial aid; ~ VIII
eagerly prepare for and avail itseit OF the
opening future American enterprise
asks opportunity. not help and ratronsge
The opening Of the canal viii double ,he
efficiency OF both our present navy ana our
present mercantile marine. 10 VIII lessen
the necessity of-eXpansion OF our navy.
I'VE will be a gr ar island in the centre
OF the world. ready 10 use all our power
n any point or for any purpose that may
call for IT,
Il should be happy 20 see both our navy
and army reduced 10 a mininum-to the
limit necessary only for our police ana
protection. Their regime and discipline
IS altogether against repuoisdn
stomach. and beyond narrow limits they
are dangerous. Well-ordered militia -
our best and safest reliance. f.. 49,.
"A government that can raise 10000
men on n short notice and subdue q glfat
empire may be depended on to protect u
self The less We feel the special ava,
power and control Of government, the
better for u.s. our whole country since
the war has been and Is now suffering
from Overstaying marital law ana pi yer
nalism, and but for the CHARACTER lnUt-
llgence. wisdom. and high manhood OF
our people and The care Of Heaven we
might have been ruined.
'"The natioral-bank law was not crea-
ture or growth of commerce. II was 4
war measure a method OF forcing loans
from the banks 10 the governments II
accompllehed It's purpose and saved the
Union, but 10 mas worn out ITS welcome
Since the war 10 has proved nuisance.
IL has inflicted on us perodieal anu
chronic panics. It's restrictions ana con-
strictions have been limiting garments
and binding cords upon the body oi a
strong man. producing consesl i"nS'
spasms. and paralysis. Such words sx-
press our familiar financial troubles. Ihe
10 per cent. tax making 1t n punishaols
! offence 10 issue bank-notes. Is unWise and
unconstitutional.
"rhe financial system Of our country Is
| like our own bodies and the earth we IN
habit. IN our bodies We nave our ,ii'u
! lation And we have centres blanks OF
/ issue) I'm an parts Of our bodies that see
crete and absorb the necessary juices. ard
so effect an elastic and healthy. circula
| ton adapted TO localities and 20 he Who'll
system on the face of the earth nature
/ has her currency. II IS al sound and
flows freely within limits. Springs and
| fountains are banks Of issue. Internal
seas lakes. and rivers iocalize II. Tidal
! waves and excessive drainage are PLAINLY
re- nh nI
! danger of only one currency. our cOun-
| try rs demanding local banks OF issue
/ that may mobilize wealth and utilize
credit. Until they are given MS. the here
/ sizes of free silver and greenbacks will are
/ hlct MS as diseases IN the body when parts
/ fail 10 do their duty effecualy. our
people don't want free silver. but free
| banking. regulated by government