Rural Retreat times. [volume] (Rural Retreat, Va.) 1892-1918, 1903-10-30
JRAI r
w. B. RlDGE:I
TALKS CUR

last las l q fapla. K!
Igeley, eomptrollsa g w 81 l'gs'
llyered the iolfoy3lag
rency;
/ Mr.. Ridge5y spoke fff llss 81
81 am a thorough
rency reform and agaen n q Is5i|
wish to see the green
silver witlldra ii t0 Id
which it is Sprac tfeaify s5l ljs355 ssiy
age or currency, leaSi
circulation but gold, al coin
fcates, and real bank note
| by gold reserves with Alic d egi5 io1s
| for issue and redemption that
be a matter Of ind ference 10 the
banks whether their credits laalAseN
with them as deposits or were 81 lieJls
lating as notes. This is fte
solution of our currency mat teas, all q
hope to see it some day accom-
This. however, is. a thing wlica esals
only be gradually done, and has FIstis
or no practical bearingg on the present
business Situation We have a1lotile
very diffeyent: system in forge ana it Is
with itswe have to meet andScope With
our present problems. it very
great advantages Our peopE re used
| to it and have had no experienes
any other. Only the veterans in bust.
| ness remember anything different. It's
greatest advantage is, however, its alb
sofute safety and soundness. RealiaS
what this has meant in the last year
or two and especially in the last few
months. If there had been the slightest
doubt or uncertainty in regard 10 any
Of our currency, our standard ofsvalue,
or our national finances, the squalls
We have thus far stood SO we'll would
have developed into a cyclone that
would have swept the whole country,
leaving ruin and disaster on every side
| LIT lis a very good system. which resists
such strains and there is great force
lin the argument that this is not the
time for anv very radical change il we
soould now attempt any at all. What
| is needed now is business sense andl
good Judgment, not: legislation. We
NAV need currency legislation as we
| have needed it for wears. but it is NOT
II meet this situation. and there is no,
| use to delude ourselves with the hope
that legislation will help us out Of
tro,l,le dine TO over-expansion and spec-
Inlation We need all the reserve money.
we can get. but legislation will not pro
duca If. We must wait for the accu.
mutation OF, gold. the only real reserve
money. II will be no real hep t.. make
further large increase in bank-note.
circulation and no one would think so
adding to the volume of the greenbacks.4
No legislation. can change fixed capital
- ,,roduotfva canital That is merely
auastion Of time and there is moth
inc IN do h,f III wait for it.
s.Thero is also a tend towards
denomination and placing the blame
for present. business conditions on some
one else. for one section of the country,
n blame another: for the West to say
it is ali he fault of the East and Wall.
street. Some yery foolish people say
thew are clad to see the spectators
lose because thew alone are to blame
and The rest Of the people will not Ee4
hurt There can hardly be any more
mistaken view than This. There is mo.
nan woman or child in the civilized.
world 60 moor So remote. or obscure
| u not 10 he more or less affeeted.,by
| .ba laroa movements in the fnaneial
,+ros varv raean+,,,>I have known
cgso,,.il,, ~ onternrisas IN tba NOM
ain g Aror+,, c.rolipa in. CsalifoTnia
: ryanai, ;nsA1osl,o and i, tho phil
i,,o,. r,,,oe.o ,ronosoa onora tons nave
/ cen cnrtailed on account of the un-
certainty Of the money market. THE
.esult is that the amount OF money to
he snent for wages and supplies among