The times. [volume] (Richmond, Va.) 1890-1903, 1899-02-15
WEDNESDAY. FEBRUARY Is. 1899.



The announcement that the Secretary
OF the Treasury. Hon. Lyman Gage. Is
N attend the coming session Of the Nir-
vlnis Bankers Convention is Of far more
than usual interest. 1t is a very high
commitment 10 the Virginia bankers and
shows that all classes of Virginians have
not lost their hold upon the esteem OF
sensible people because some nave car
ried tho day with their .mpractica0le
schemes. and 1t holds out hope that
X5rlinla may even yet regain her place
amongst the thinking people of the coun-
try as a factor that Is 10 be consulted
when tho measures that determine the
career Of the country arc under con-
alteration. Until 1861 the thought Of Viz
einians had more influence IN the deliO-
erative bodies of the nation than that OF
any other part Of H. For the past twenty
years she has not counted for so much
IN such bodies Such is the consequence
Of an attempt to defy the natural laws
that must rule and to run counter 10
,he course OF events that the regular
processes OF evolution have established
Mr. Gage has never been much OF
politician. He has been a business man.
and that he Is now at the head of the
Treasury Department OF the United
states is one Of the most solid claims
% tho confidence Of the country that
Mckinley has He IS an out-and-out
gold standard man who appreciates and
understands the absolute necessity for
fixed and unvarying standard as wen as
even The Times does. That is the same
thing as TO say that q fixed and unvary-
ing standard Of value Is absolutely ind.s-
pensable 90 all order and an business,
and that while millions of Americans do
not seem 10 know this, Secre-
tary Gage and The Times do.
But. whno Secretary Gage has
the dearest and most correct apprehen-
sion OF this ali-important fact he is not
as advanced as some others-The Times,
for instance-in respect 10 other moro
important points lie continues 70 dwell,
fer instance upon the absolute import
ance Of taking in and cancelling the
ereenbacks. Now. The Times thinks that
very important also. But while the coun'
Try is prosperous. as 80 now IS. the green
hacks are entirely fnoccuous. and while
entirely unnecessary. they do no harm.
II IS only when a panic comes oPon the
country that they become dangerous, ana
trey would not be dangerous even then
~ there were no threat TO solve obliga-
s8ons in A deprecated money-such as
free silver. for instance.
But therse is another cause Of financial
trouble which operates steadily and all
the time. whether the country IS pros
porous or whether Il is otherwise, and
mat Is the inability Of the agricultural
regions 20 get a medium Of exchange
The national bank law causes all OF our
money 20 be good at IT'S face value all
over the Union. and that causes 81, when
ever issued TO 80 20 the commercial cen
tres This leaves tho farmers with no
thing 20 transact their affairs with. and
they are naturally ana greatly discomfort
ed with that state OF affairs. Mr. Gage
has lived all bis life In great CONNER
cial centre. and no has always had the
greatest abundance Of money for his
affairs. Indeed. he never used any money
ito has always transacted his business
with checks. lie does not know, there
fore. how bare OF money the farmers are
This Is matter we want MIR Gage to
inform himself about. and he can get
information about 1t whenever ne comes
here. We commend 10 him 20 take that
subject up and 10 use the great oppor-
tunities his position gives him 10 fur
thor a movement TO give the farmers
a circulating medium mat viii meet their
wants. II he does this ne viii entitle
himself 20 the lasting gratitude OF his
fellow eountrymen and will establish for
himself a place as ono OF Americans
most noted and most distinguished sons
AIABsMA's DISPENSARY LAW.
We regret TO see that the Alabama Leg.
ssiature he's adopted the dispensary sys-