The Richmond Virginian. (Richmond, Va.) 1910-1920, 1913-06-28

per cent increase; her imports per
cent. The United Kingdom increased
it's domestic exports IL per cent: Its
imports per cent in the Ave months
to June LIST. France reports per
cent increase OF exports: per cent
in merchandise imported for the four
months TO May list"
His Currency Plan
Returning to the subject of banking
and currency legislation. Mr.. Williams
said:
THE success Of any plan for banking
and currency reform will largely de-
pend on whether or not 1t shall pro-
vide:
First. A currency which will at all
times he worth Its face in gold in all
sections Of the country.
Second. a plan by which the
amount Of this currency can be IN
creased TO meet the legitimate de-
f8nands of agriculture, industry ana
commerce, and be automatically re-
/ duced when the occasion for the In
crease has passed and the additional
currency is no longer required.
Third. A governmental supervision
or direction sufficiently powerful To
prevent at all times. domination and
Exploitation by any set Of men or group
/ of interests. hawever philanthropic
their alleged intentions, or however
beneflcent their designs.
| These three objects. II is believed
can be obtained by the currency meas
urc now before the country. The bill
lis not perfect. No thinking man would
expect any product of human thought
or purpose, however clean the thought
or high the purpose, to be born per
| feet believe ii is far better than any
measure along the same line ever put
| before our congress. 1t VIII he pruned
| and, / hope strengthened and wher
/ II has passed the senate and house
/ will come out a powerful impetus, q
( safesuard for thrift and enterprise, ar
assurance to all legitimate. business.
No Fear of Federal Control.
/ Mr. williams repIdiated the outcrS
/ that government control of the'reservs
I boards would have serious conse-
auences and compared the present
criticism OF that feature of the bill
to the agitation at the time the inter
state commerce commission was
created. Quoting the many lamenta-
I tons OF business in 1887. Mr.. William:
points out that despite the direfu
| predictions. as one intimately &C
Quainted with the railroad as we'll al
the banking interests of the country
/ for twenty years past that IF tht
'wide-open' policies under which ON
railroads were being operated before
1 the inauguration Of the interstate com
merce commission had not beer
curbed, systematized and regulated by
the Interstate commerce commission
which was first appointed in 1887 by
President Grover Cleveland. tina
I license and their unbridled operation!
and reckless self1shness would have
led the country to panic, and the roads
10 ruin"
II firmly believe that the super.
vision which the new currency plar
bestows upon and secures to the gen
eral government will prove not only
of supreme value to the people as q
whole, hut will be ot inestimable value
to the shareholders and owners of our
banking institutions both far and
near insuring the stability and safety
of their Investments, and preventins
the exploiting of the resources Of
banks for the benefit of unscrupulous
men, whether they be within or with.
out the banks. / believe, too, thai
the public Will come to approve the
currency system that will be adopted
as heartily and universally as it does
the interstate commerce laws"