Richmond planet., 1904-10-01

And not one of these ten can exist
| without the authority of the Southern
white men. Their aggregate caritsl is
S%3O 600 aud their deposits $500, 600"
reviewing the statistics of Negro ac-
tlVlty Tor the laSG year Mr. Mitchell re-
called that the workers of his race had
produced large part of the wheat. the
tobacco, the cotton. and the other staples
OF the country. He dropped into dia-
iect as he talked so fast that his hearers
had a hard time to keep up with him.
INDUSTRY OF THE NEGRO.
Don't You know it true?'' he won1d
say, as he gave each figure. The total
production of the race in the South
amounted to $232, ,437, 5I5. 50 in the wear
not taking account of rice, and hay and
buckwheat Doesn't it demonstrate that
we are bread-winners:" he cried.
Now, our friend from Georgia" he
began. He paused and seemed to decide
not to mention particular case. "Ah.
i ike TO hear white man talk" he
continued. 'No matter what he is
talking about, there is something musi-
cal in his voice, even when he is abusing
us. How | do like to hear the white
man talk! Look at our handsome Secre-
tary, Mr.. Branch
The rest Of this was drowned by the
applause.
I'VE i'll the South suffer from the
hoodlum classes in both races. l want
you to know that the Negro is working
out his own-his salvation. The
colored race now owns S499 COG, 900
worth OF property in the South, and
more than 500, 600, 600 worth in the
United States. When YOU think thar
the white business men of the South are
opposed To us you are wrong. The only
RICK 'er us is about our politics and most
OF that comes from the lower class of
white men. 1t doeSn'U amount to anv.
thing coming from them.
81 am proud of the white men of the
South, and l like TO hear them talk
And when hear them abuse us-when
the last day comes, the sunset sheds its
last light on our earthly work. | shall
say: Father, forgive them, for they
know not what thev do.
As sAo Spe6ter sa :. pankers
r0St, tnt OF ~ d A. - .r-t,,. sf,,' - h.
'iNL heir napds and waved
handkerchlef and dozens of the dele
gates rushed back toward the Negro
banker, crow ing around him, shaking
his hand, and C0mplimentinc him on his
address. 1t was then that Col. Lowry of
Atlanta made his reply. and all the
Southern members joined i'll the cheer
ing that followed
81 am sure" said President f. G..
Blgelow, when quiet was restored, "that
Mr.. Mitchell must sec he has thrown no
shadow over our proceedings during his
stay here. No one has been better receiv.
ed than he and 1t is plain from his speech
that IN the matter OF oratorv there is no
color-line IN the Southern States"
The principal address in the DAYS pro-
gramme was delivered by Ellis II. Rob
erts, Treasurer of the United States. ON
The Strength and Weakness of Ameri-
can Finance" In view of Mr.. Robert :
position, the bankers listened TO his ut
terances as more or less official. He said
in part;
The nation now stands on a granite
base of credit, and over the door of the
Treasury may be inscribed, 1--WE are
not borrowing here. "
THE stronghold of our financial svs-
tenn Is its actual gold, as we'll as our sta
tutes. The world has about s., 900, 900. -
600 of this metal, of which the United
States has its stock, 81 ,342, 49,, ,74O. In
the last reported year the world produc-
ed less than $500, 700 900, of which our
mines gave $50, 900, 900 Our Treasury
holds SiOO,OOO,OOO in gross, and our
banks, National and other, have $500.
| 600, 900 approximately. So over one-fifth
of all the worlds gCld is in the United
States, and the bull of it in the banks
and Treasury. The il crease in gold in
both forms IN our curr, ucy in five years
has been just less th.m $500 0O0. .OOO.
(S299, ,S53, 451) and IN the past wear.
from Aug. 1 to Aug. 1, Sl37, 72f. .92O.
| The charge is put forth, often in spirit
aud sometimes in words, that we are ex-
travagant and wasteful in the posses
sion OF SO much Of the precious metal
Are we?
1T is question whether the supply of
yellow metal in this country and in the
| world IS IN excess. That problem is i'm
portant and far-r reaching. We are to
note that gold here is in the ratio of A 9
TO the total currency, while in Great
Britain 1t IS 20; in France, so. 10; in Ger
many, 66 10; in Russia, 81 and in Aus
trla Hungary, 6S. 90. In all these conn
tries combined gold is 69. 8 to the total cir
lation. If the worlds experience is to
be accepted, our gold is not in excess.
although our whole volume of money
may be too great"
Speaking Of international movements
OF money and the need of a clearing
house Tor all the great nations, Mr. Rob
erts said:
why should this treasure be carted
/ back and forth between nations. as
the banks Of this and other cities used
to deliver money to each other? Is it
not possible to frame a system by which
only the differences may be paid in met
al at proper intervals? Surely il would
be cheaper to pay the balances than the
gross sums, as the clearing houses daily
testify.
INTERNATIONAL ORGANIZATION.
"Why cannot an international clearing
house be organized? Perhaps jealousy
Will forbid the selection of a single city
, Tor the purpose, as the Greek cities were
rivals for the deposit of the offerings to
Apollo. The international organization
may well have its vaults in London.
Paris and Berlin, as well as in Ne "
AOrE, and the treasure can be divided