The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-09-06
RAFTING BANKERS.

n ia hard TO tell whether the Mexican sltua'
slon, the currency bill situation or the Thaw al
fair changes the more rapidly from day to day
I. Is like looking into a Kaleidoscope. One day
everything seems to have fallen into symmetri-
cal and beautiful position. The next all seems to
he In confusion and disorder. Then the process
Is reversed Last week Representative Glass and
Saeretarv McAdoo we're receiving congratulations
from sill sides on the promised success OF their
currency measure. 1t seemed to be UNDERSTOOD
that the bankers and TIE Democrats and some
of the Republicans in both houses were in sub
stantial agreement, and Mr.. Bryan's ready and
hearty endorsement appeared TO have decided the
matter finally Now we have, through the New
York newspapers chiefly. an outpouring of threats
from bankers in the North and West that they
will unite to make the currency bin failure
Some of them go SO far TO insist that they
will surrender their national bank charters and
20 under the state laws, unless far-reaching
rhanges are made.
Evidently the ability and courage Of the presi-
dent and his secretary of the treasury are to be
Subjected to crucial tests with results OF tremen-
deus importance depending on the outcome The
objections and protests offered by the bankers
demand respectful consideration and the most
careful expert analysis. The government cannot
afYord to be In the wrong on this question or 10
he responsible for financial disaster. On the other
hand. it cannot allow itself to be bullied into
tnaction or driven from sound position by
c1amor 1t should be kept in mind that the
purpose and the chief effect of the currency bill
n Ttron n
lie country's finances away from compare
lively small group Of banks and capitalists II
New York city and to give financial local self
government Naturally the uttermost powers OF
New York influence. all the intellect and
strength 1t can command. will be applied fol
the defense and maintenance Of the conditions
as they are. Nothing that ingenuity can Suggest
sa unity the banks Of the country in support 81
New York VIII be left undone. 1t is no time
for violence or haste or for timidity or unneces
sary delay Quietly. strongly and patiently th'
president and his advisers should take up eacl
objection and suggestion In detail. study it out
nut its merits before the country, yield points
where common sa%se and regard for the genera
interest demand Fielding. insist indexibly on &C
ton required for the protection Of the right
of the people and the safety of commerce.
The people want conservatism, but they wan
also definite action. While nobody Is prepared
vet for final answer and action. all of us mus
note as a somewhat suspicious fact that III
new outburst against the Glass currency bin ha
come of a sudden and following time Of ar
parent quetude and general acquiescence. /
looks manufactured. 1t is led from New York
AS The Firgtniap has indicated heretofore tn
bankers who seem 10 be working energeti
cally 10 make the currency and banking polio!
sofsthe administration failure. may be storing
up wrath against themselves and giving encour
sagement and help to the radical elements.