OCR Interpretation

The times dispatch. [volume] (Richmond, Va.) 1903-1914, April 16, 1912, Image 4

Image and text provided by Library of Virginia; Richmond, VA

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn85038615/1912-04-16/ed-1/seq-4/

What is OCR?

Thumbnail for 4

?hp&Unrtf *l?g?> Si/jpnlr!.
,BUllO?M OOl-M.?)? IC. Mihi Mrril.
'eouth lUebmon?.1030 IIull Street.
Itunluri Bureau....IN n. Sycamore BU?U
bynobburr Buioau...Iis Kbjhtb Streel
BT &1AJ). Oae gll Three One
POBTAOR PAID Teer. ?Joe. Wo*. Mo.
?dir with b?ne?r.um ??<? *i.w .h
Mir ?Itbetut Bundsr.... i w 1-0? LOO .K
? SonOy eilt Ion or.lr. im 1.00 .fro .31
Weekly <W?dneid*r). 1.00 .CO .? ...
?7 Ttmea-Dlepalch carrier DeltY*ry 8er
trtoe In niohmond (and iuburbe) ?nrt Pe
tertbureT? One Week
Daily with Sundny.16 cents
Pidlr without Sunaay. 10 cente
Sunder only. t coote
Entered January 37, IKS. at Richmond.
Vau. na irwn.-c'm matter under act of
Conpree? of March 3. 157f.
TUESDAY, A run, 1*6, 1912.
T.*nspea.kable horror spread over tha
world yesterday as It learned of the
ticking of the Titanic. The grue?
some et.ojy pales imagination, and
?very hour brings more Bickonins in?
telligence. At the time of this
?Titing, It le r.ot definitely Known how
many lives were lost, but there can
be little doubt that tili? was the most
fearful disaster in marine history.
The laTgcst vessel ever built, the
masterpiece of man's constructive
genius, freighted with, an army or
prerlous human Hies, vanished in an
Instant. "Wr*n heaven was all tran
cullllty" death's d:?rk reer lay straight
shead. The very thought n? the
? e.ene Sunday night shoots, the heart
through with horror and stutis the
biaJu. No words can measure the tor
row that has fallen upon thousands
of homes; no mind run picture the
*wful tragedy that snuffed out hun?
dreds of human ll\ es In the twinkling
of r.n eye. The story will be written
in blood and tears In the dark r?eord
of world disasters.
nviLJj CHINA'S REPUBLIC i;mm iii;i
It has been repeatedly asserted that
no Occidental can fathom what is be?
hind -ho Oriental mind, can divine its
complex workings, ean tell how :t:<
mystical attributes may confound all
calculations ns to its apparently prac?
tical dlrrrtlons, can safely assume Its
real objective, cither !n purpose or real?
ization, it in the testimony of men
who have spent years in India and the
farther Orient, in close eonta- t with
tile natives, that the longer their res?
idence, tho less oompctent they have
felt to reach cl-nr and Intelligent con?
clusions touching; this problem. 1 'or
These reasons obtains the more or Ks*
?widespread disposition to challenge Oc?
cidental optimism regarding the future
of tho Chlasse republic-. Mm for these
reasons also discussion of the question
by an educated, enlightened Oriental,
who, while knowing the Chinee is not
of them, cannot but ho recognized not.
only as most interesting, but as Impor?
tant and authoritative.
Such a discussion we find In tho April
number of tho Notth American Review,
tn an article by Adachi IClnnosukc, who
was born in an old castle town of Ja?
pan, pasised through the schools of that
place, Kobe and Tokio, nnd, cujniug to
America, took tin eclectic course in
Vanderbilt University. Mr. Klnuosuke
has been a frequent contributor to had?
ing periodicals printed In this coun?
try and Europe, and was the tlrst na?
tive of Japan to occupy a prominent
position on an American newspaper,
His equipment for the task is obvious
'at vnce. owing to heredity and ata?
vism, on the one side, and to his Amer?
ican experleir^e' fltutdj" i, ml associations
and their b'roa'd nine influences; on the
other, ho Is In position to approach the
question from both the Occidental and
the Oriental angle. This he does most
comprehensively and logically,
Mr. KlnnosuU? !? conil?eut that the
Ci-tlnes? republic run and will endure,'
and in support of Ids confidence proben
down :o the basic, concept lli.it lit be?
hind ?11 eiFe In the ChlneO lillnd Its It
relates to government. Thai concept is
? denr.'-racy." From afar enough"not
to b> prejudiced, distracted or con?
fused by.tue mists <>r present .?? ii 11 n-1
tng and gcml-chaotlc conditions In
China. Mr. Klpnoauke visualizes both
the past and the future, lie pene?
trates to the core of thing- in both di?
rections Evidencing a ni-j?t thorough
nid discriminating knowledge of ( in
I r.cse history, he goes back to Over
1,000 years before Christ, a III r ins thai
the Chinese ideal of government was
j.essehtlall} do nice rat I then hud Is now.
and marshals ttii Impressive array oi
facts and argument to sustain ire
affirmation. The contention Is not new.
3t ha* br<r: ad\nnc<d before, bill
largely in the form of iissurnptiunj K
lis.8 been discounted i.y malting allow?
ance for the cut bust r. Am of zcalotu in
th? cause of the Chinese revolution,
?who have dogmatized rather t ban
proved. It ha* never been fortified as
It is fortified in the ai licit before us.
The Chinese people, hays Mr. Klnito 1
tvuk?, "have always regarded ?t>??r nil i
??the very antithesis it th?- belief ,,f j
their neighbors a-m*.-, the fellow and,
the' .lapan Seas, over whom one iiy> i
nnaty, dlvlti;ly rounded, ban ruled for
morf: than twenty-five renturles."
Hearing In mind the race,, nativity and
early education and environment of the
?writer, the tremendous significance ???
mis observation as iVatif; Ing Mr. Kin
riosuke's grasp of hi.<- subject must be
patent to lhe:most cn:'itnl reader, "Tire
*"i:\L\tt*-'' Mt. Klnnotfuke further de?
clares, ''have enjoyed during centurlii
the practice of aclf-govcrr.meht and
majority rule, under the very eyes Of
the worst despots that evjr sat en
throned.' Why and how? The an?
swer Is that In sheer lelf-deferisi)
egalnst ifflclal corruption the people
organised all sorts of secret unions, th#1
most widjly known of which among
Americans and Europeans are the
trade guilds. China is hone>'cenib?a I
with societies and clubs?mystic bro?
therhoods, we are told?and albeit the
object of some of these, as made man- j
If^st to tho uninitiated, are repugnant '
to every conception of modern elvill- !
ration and progress, the primal under?
lying principle of alt Is majority rule.
Is popular rule.
In tho fnee of arbitrary. Judicial, ad- \
verso decree and In contempt of man- j
dnrln orders or what not, ihos-i socl-:
olios, club- or guilds settle finally a
varlsty of questions, such as financial,'
social, domestic and legal, on the ha*!*
of majority rule and tue most frequent?
ly of .nistlce. "The associations," Mr.
KiunoMiky points out "have been for
ages flic elcmenlary schools for the
people In republican forms of adminis?
tration. Thus the Chinese have had
aetunl practica in popular administra?
tion, rare In the experience of any pco- ,
pie." Much of the mysticism and!
deviousness outsiders associate with'
the Chinese mind and 'methods, It Is :
therefore deduced, are more apparent.'
than real, and nre designed to becloud
the concrete, practical and definite allit |
towards which the Chinaman works.
In closing: Mr. KlnnosuKe notes that
"w? see In brief that the Chinese, who
never forgot, have for forty centuries
worshiper! democratic Ideals", that 'no
matter how dynasties hav; nourish'.'!
and fallen, they have practiced In so
cret th" art of self-government " Then
he asks: "Do not the facts we ha\e to- |
vje.w?d promise a lonst and happy fu- !
turo for the infant Chung Hwa repub-i
lie?" lie thinks they do. He holds
that there can h?. but one legleal and
natural evolution from this seeret and
Irresponsible piecemeal d-nmerat'c '
regnaiicy 10 consolidated, responsible
and organized self rule. And although
we may have never so strongly pre?
conceived tlva idea that China, and re- j
puhllcanlsm nr-? utterly incompatible,as'
many have, we rinnMl fellow him With- J
out conceding that he seems to have
made n virtually unassailable case. The ?
very conditions that Inspire iho doubts]
of th? skeptics and shape the conclu-1
slons of the pessimists Mr. Iviimosiik? ?
interprets with' powerful -fleet 10 vin?
dicate the believers and the optimists.
Seed that are sown and Hat" be?n ger?
minating for ages must ultimately
bring forth fruit of their own kind. |
boon itoADo t.'oixt; ahead.
Tho good roads movement in Vir;
glnki has taken on new life. Moi e j
road work Is being carried oh now j
in this State than ever before! Hun- I
Ire-Is of miles of Improved highways J
arc in process of construction and the
snthusiiiam for better rund? is at high j
ilde. The newspapers of Virginia arc
carrying column:, upon columns of
iiutitci pertaining to the movement,
und very when public spirited men
bi aiding und encouraging the good
Kxeellent progress is being made to- 1
ward ilif construction of the lliehmondl
to Washington highway, 11 great thor?
oughfare thai will forge a mighty
link In a splendid road chain. A prac?
tical plan hits been adopted, the eso
L'tlllon of who h will 1101 only niean
the constrtiotlon or n model highway,
but its perpetual maintenance as well.
Augusta county on April P.O will |
vote on n $1.0110.000 bond Issue for j
better roads. The outlook is Mint ;he j
Pond Issue will be ordered. Stafford i
roles to-morrow on 11 1100,000 bond !
Issue; Stafford has been among the
bast progressive of tho counties in
this movement, and the action there
Is most encouraging. Culpoper county :
soon votos on 11 $1-0,000 bond Issue. |
Nelson, another backward road county,
i> about io vote pp a bond Issue for I
better highways. Tue record-break- I
ing road building in Wise and Taze
wol] goes rapidly on. Jn other counties
sen 11 men t Is being aroused and plans
being formulated.
There is no better sign of progress
thttn the building. ,.f good rouds,
There is no better Indication of tho
lly-o spirit of the Virginia people, no
better evidence of ihelr quickness i<? j
sol?je upon a reform thai Is both ceot I
noiniliil and prolltable.
1:1:1 II.Ill\ IN Tin: , mx bii?iti . i
No portion 01 I'residv.'it Aldcriunn'?!
siatement upon the ciDdillon of |IV?!
I ulversltj of Virginia i,? more inter-'
esting ihiin that deal I uk with the re-!
Union's life at the Inul Million. The hit - j
urns he a;.v. furnish an almost atari
tlhg refutation of ti.1.1 theory that
universities are hotbeds of Irrellgloitl
and skepticism. Of mo; students report
ing, are members of vom,- religious
denomination: 1 aie ntflllatod with
-.?? religious denomination; and only!
Soven have neither membership nor ar -
Dilation. In short, leas than I pen
cut. of the student b-lv is without'
some church connection. The average!
age ol tbe?.- young men Is twenty-one)
years Yet there seems no lack of
breadth of view and variety of belief,'
since :i\iee,, separate creeds are rep-'
I if son toi by members. |n accordance'
w .Ui Jefferson's Ideal ail faiths aland
upon an equality ?f opportunity.
11 if a good lhing fot ihose men to'
lin^f Iii'- standard and guide of re
liglon durin? a period usually marked
bj Intellectual and emotional storm
and stress. No substitute of personal
morality or higher ethics, evolutional
or otherwise, car. offer the strength or
? onsolatlon of the ancl.nt creeds based
I on the deepest cravings of the human
? i The memory that'b: their fltnals
, men have boon married and burled
I and comforted f >r centuries brings
with It something vital and full .of
j meaning to the sou! coming fnll-t'.li
n the tumult of modernity.
The religious life at ".he university
is vigorous and active 11 Is no lese
I encouraging to know that the homer
I whence these students came are found
led on the same divine hope. Tho
j church can suffer no grievous injury
I while the finest type of manhood In
the country romalns fsst In the old
faiths, finding In the pursuit of learn?
ing only a wiser and gentler way of
making their beliefs Into practical
service. Anil any one who has heard
from aoma hundreda of young mon
aweep out across the lawn, the chant?
"In the cross of Christ 1 glory
Towering o'er the Wrecks of time;
All the light of sacred story
Gathers round Its head subllmo"?
cannot help hut foci that theBc figuroa
do not menu mere formal profession,
but aornjaf.hlng rising out of the spirit.I
Thcr? has been much righteous
complaint nhout the destruction of
young trees and shrubbery In the city
parks this spring. Children and re?
spectable gfstWii people have Joined III
this vandalism and unvo marred the
beauty of the parks. Dogwood trees
have been torn to pieces, and cedars,
honeysuckle vinos and other ornamen?
tal growths have also been despoiled
and damaged. At the Cnrlstntns sea?
son, the woods are scoured for holly,
with the result that lite little holly
we have i(.f; |s fast Vanishing. Wan?
ton destruction of this kind not only
detracts from the attractiveness of the
parks, but also is wrong and outrage?
ous. As a correspondent writes us.
"the man or woman niching these pub?
lic park adornments could with equal
propriety hammer off n section of the
bronze statue of Lee ns u souvenir 01
to sell.' If this destruction simply
meant depriving the parks of Mit?
year's blooms and flowers, the caso
might not be so aggravated, but. as a
matter of fact, such pillage mentis that
next year there will bo no blossom*,
ami ihn parks will not be as beautiful
as they hove been. if we would ul-1
ways cltjoj these trees ?nd flowers We
must conserve llieut now. Immediate
protection of this community ;isf"1 of
beauty Is necessary; The miserable
thieves who strip our parka do a gre-i.
Injustice to 'he people, for sdrh nets
make our city fathers think 'hat the
people do not npprcclat, the .(.nee;;,
sloiis which are made to their comfort
and pleasure, .lust as (ho people who
chatter at lh<- top of their voices at
the park concerts cause many to feet
that the people do not appreciate
free music, so the mean few who de?
spoil the parks Inspire a belief that
the people are ungrateful for the parks. I
The parkkecpers and the police ought!
to get busy and break up this whole?
sale defacement of public property.
The police already have a lot to do.
but if the parkkecpers spent a little
more time looking after the snfety ofj
the property Intrusted to them and
less to political confabs and log roll?
ing, the necessity for their positions
would be more apparent 10 the pconli
of this city.
lut.usn r?m otiit .mi sic i-'estivau
The Newport News Times-1 Icrald haul
some very aoinpllmcnt.-try things to
say editorially about the Wednesday
club, "one of the state.- best educa?
tional Institut ions." it ih not simply
a musical club," says lhiv'1'lmos-IIeral?,
"it is a school of music. It tiatns thus.:
who sing In,the choirs and It irain.-i
the popular ear. Via;- after year It
has fed the people on the nest of music,
both vocal and Instrumental, and the
people now have a taste for the best
ami will have no other." our con?
temporary discusses 1 no program In
full for this season, ano correctly say.i
that it will prove a "delight" to all
who attend. The Times-Herald de?
sires that Hie music lovers of the
Peninsula shall take advantage of such
n rare opportunity to hear "the
world's greatest musicians'' at small
cost. It is to be hoped that the Penin?
sula will be well represented at the
concerts and that other cities and sec?
tions will also send their music lovers
here, so that the concerts may become
inure and more a State, institution, in?
creasingly satisfying the musical needs
of Virginia.
Charlotte, N. c. is a so-called pro-]
hlbition city in a so-called prohibition!
State, but I he star reporter of 1 ho
Chester Lantern has b-jo,i gumshoeing!
around and investigating the place in!
very much the same manner us Ollrl
pliant, of the Columbia State. Old in
his famous expose of the open gamb?
ling and inn- rooms 01 Charleston, Ilcrc
is in-- Lantern's luminous description
ul charlotte:
"The noisy little city where the mil
R-lillini spectacle of the lion and lamb|
.ias been anticipated h> the combliia-j
llou of booze ami blue laws; where'
eyei'j fragrant breath "f the mountain!
breeze bears a mingle 1 perfume 01 j
aprtice pine and applejack, and thcl
heady fumes of luponsliirie corn whiskey
rl:'o over the land like in,- shimmering
heat waves above a Chester county
cot I on Held in June. Charlotte, where
the thirsty Tar Heel ivnu hasn't time
between trains to Join a club may hie
himself to the nearest rlrug store."
Prohibition in Charlotte Is almost as
mythical a? the Mecklenburg Declara?
tion of Independence.
The Japanese say they never heard!
of chewing gum until the Americans!
came?or chewing the rag either, we
The spring poet's dyes in a fine
] frenzy rolling is Just another kind
, of spring fever symptom.
Voung Jay Qould Is the only one of
: the family retaining his hold. Ho Is
still court -1 ennls champlnn. despite the
fact that bis kinsmen have lost the
title of railroad kings
Thev are trying to pull .Tim Jef?
fries Into the prize ring c.grtln. Jtidg
? lug by his last experience, we think
' they'll havo to pull him out. too.
The roport that Vassal- glrla are tri
I be allowed to dress as they please
: should be corrected to read, as will
[please the Vassar girls' boys.
On the Spur of the Moment
By Roy K. Moulton
From tho Htckc'rvUtc Clarion.
Klmor Jones, who loft h?re u week
ago to accept a very lucrative ?ml
permanent Position In Chicago, has
returned. Ho .says, thai his work-was
so good that It made all of tho other
employees Jealous, nnd In order to
prevent a general strike, lie threw up
tho Job and came home. Elmer will
cnutinuo lu canvass for crayon por?
traits, and will board with hla futhor,
Kliner says there ain't no place like
home, and, ao far es ottr town 's
concerned, he In substantially correct.
Ansc Frlaby's wlto went down town
and Rot her hair done up by a hair
grosser, and when sin" rniue homo
Anae iron tor lior real polite, thlnkln"
ehe was uomo Strange woman.
Tho feJler thut sets a good exam?
ple by shovellu' the snow off his walk
every morning whether It needs It or
not may be a good citizen, but he
certainly ia n .peat to live next to.
A feller had Iiis head sllckln' out
of a winder in the smoker of No. IT
when nhe hastened through our vil- j
Inge and broko the mail catcher Into
smithereens. As a result this town baa
sent out no until for four days. Ho
must havo boon one of those hard
headed business men we hear so
much about.
Foregoing: Conclusions.
That when the woman In front of
you at the theatre does remove
her hat, she is going to have an aw?
ful wad of hair.
That the strong-arm man in tho
fifteen-minute vaudeville turn Is go?
ing to spend ten minutes of It wIpInK
his hands.
That tho man who Is running a.
? lice game Is not expecting to lose
money by It.
That the customer who has tipped
the Walter before is going to get the
largest piece of nppl. pie. "
That nobody Is going i" believe the
story you tell about your hisek eye.
That the young lady who tells you
lb .t yoi nre the only man she ever
loved Is a?well, she Is n young lady,
that's all.
r nunht on ? ho Fly,
At any rale they cm never accus?
little Emperor Tu Yl with having an
affair with a French music hall
II' the high rnrt of living keeps up
no-si men ? will slender soon
whether they follow the dictates of
fashion or not.
Trade reports say glim fliof j will
bo rheuper soon, 'ibis Is welcome
news to the 1012 politicians.
A professor down K?st says man
ia 50,000 years old. Hut he daren't
say that about any woman.
But there will probably utnve' be
a candidate nnd will combtTM Ett
Kollcttc's pompadour, Wilson's chin
and lioosevcll's teeth, else the car
t.lists would go wild with Joy.
A .Michigan minister sues llle was
not worth living until forty years
aco. It certainly wasn't for the ma?
jority of people now on earth.
Lillian Iluss'cll plans to be married
on the day Roosevelt is nominated
Hut she may have ri chance to marry
several times between now and then
A monument to Wagner has been
unveiled in Ohio. Itlchard, Mans, ui ]
the one who manufactured the sleep,
lug cat ?
It is elmost Itnic- for some one to
Ii", and prove that It wns Shakes?
peare and not Bacon who was am?
bassador to France.
Thrills, chills,
Piasters and pills.
Aeiting und shaking,
Witii manifold ills.
Coughing and hacking,
Kvcry bon.- racking,
Quaking and shaking.
.\H the nerves Quivering,
!ihouma11;; humping,
Tet th all a-Jumping,
Keels like a blizzard,
Down in tha gizzard.
Keel very frigid,
.Mus-Irs nil rigid
Mend is a-iinglng.
Kars are n-slnging.
Throat Is a-burniug.
Thorax is churning.
Cannot help weeping.
Tears keep on seeping.
Hands feel tike leather,
Knees knock together.
Weak pumplhg station.
No circulation.
I'iease bring.
Any old thing.
With the exception,
Of beautiful spring.
I Voice of the People |
The - Mill ich" Hanking Dsn nnd Hi*
To i In- Editor of The Times- Dispatch :
Sir.? It is unfortunate that the name)
of Aldrieh ha- become nssoclntcd With)
tin- proposals of the National .Mono-,
tiiry Commission. .\s e matter of fact
the plan of banking reform which th?
commission l as ro,< mnmended <lhl not
originale with ex-Senator Aldrieh. As
was pointed out by Professor Willis in
his recent address before the ituslnes?
Men's Club of Itiehmond and the Oeh-I
oral Assembly, the proposals for re-|
form now popularly known as the!
"Aldrieh plan" were oflj.inally pin for-;
ward b> Iteprescntatlvr Kowler, of j
New Jersey, and instead of being es-j
poused wer.- ridiculed nnd opposed by
Senator \ldrich It was only nfteri
the National Monetary Commission's!
report had been revised by tlnnnciall
and banking experts that the ideas!
No.xt C playln' checkers th' hnrdest
thing our postmasters have f do is
select our Presidents. You kin allus
tell a devote? o- th' nickel the-atrc by
th' dein in h'.u hat. t-. .
_By John T. McCutcheon.
first advanced b> Mr. fowler were at
ccpted. Now the popular support v(
the proposed reform I? jeopardized by
the desire ot cx-Sonatur Aldi Ich to
receive credit as Its orlgiiWtor. The at?
taching i>i his name to the piun is tue]
greatest obstacle lb its general accept?
ance. Ills political record naturally!
creates suspicion. Tin- banker and I
business man, as well an all classes tfl
ultfxens, huui.vrr, should examine l::toj
the merits of the moasuroi it is a.)
.natter of Vital Importance. Political/]
prejudice, or tho suspicion r,f an uii-l
trustworthy public servant should not
it; permitted to Injure the prospects off
legislation which in Itscif may be pro-]
mot Ivo oi tin: general welfare.
Tho reforms proposed by the Na?
tional Monetary Commission arise from
well-known and generally accepted dc/c
/eels in otir present national blinking'
system. The law as H M?ndt to-day
is substantially the name aa it wasj
alien enacted In l?0S In order to create)
a ii ill form currency nik! to provide a
market for the sale of United Slates
?g|iii.?. The cotntnerco and Industrial
activities of the nation have outgrown
lite system, and It ildes not nioct the
requirements of modcr.i btisiness. It
does not provide u currency which au
td'malicaliy expands ut'd cbutrucls ac?
cording to the needs oi trade. Kur-j
Lhcrinore, it forces tho banks for their]
own protection to pile up millions inl
nllo reserves. wh|eh could be used to
advantage, in times of panic <>r busi?
ness .stress the system operates to in?
crease this hoarding und to prevent
the granting of loans when loans, arc
most needed. The scattered reserves
also breed panics, and there Is no cen?
tral agency through which Ute money
reserves of tin: country can be uion
lllzctl In order to promote business sta?
bility and to insure Iho proper de'
vclopmcnt of industry und commerce.
The so-called Atdrlch or National
Monetary Commission plan contem?
plates a reform in our present defec?
tive banking system, by Incorporating
a National Reserve Association. Thin
incorporation will bring the banks ot
the country into u co-operative union
without destroying or Impairing coin
petition or Independence. The idea is
not a now or radical one, but an out?
growth of our banking experience.
The National Reserve Association is
nothing more than an enlarged clcar
iiyr house with certain well defined
powers. In 1893 and 11107, lee banks
In the princlpnTI cities, by co-operating
voluntarily through their local clear?
ing houses, were able to prevent tli-2
spread of panic and financial disaster
and to restore confidence. The pro?
posed plan of reform \i the same kind
of an organization amplified, na?
tionalized and legalized.
The National Reserve Association
would have, a capital of not less than
|200,O0O,O00J 11 would l.o owned by
the banks of the country, and shnres
would not be transferable and could
not be hypothecated. Thei'O would bei
no ownership of stock In tho associa?
tion by private persons or corpora?
tions. It would have dealings only
with the other hanks und tlm govern?
ment. Iis business would be conduct
'?(I through it ft ecu bra nones and num?
erous local associations distributed ac?
cording to the banking resources and
business needs of the country.
The system of control would be rep?
resentative and democratic, and would
bo free from the domlnitlon of any fi?
nancial or political Interests. 'Iho local
issoclatlons, composed of Individual
banks, would be self-governing. They
e-otild elect the. directors of rhe
branches, and the directors of the
branches in turn would elect the di?
rectors of the national association. Tho
Secretary of the Treasury, Secretary
or Agriculture, Socrfitnry of Commerce
and Labor and Comptroller oT the Cur:
renc'y would be ex-nlUc-lo directors "f
ihe National Reserve Association; The
I lover nor. or chief executive officer,
would be selected by fee President of
?he Tutted States from a llst'of names
jiubmltteri. by the directors. The gov?
ernor would lie aulijcct to removaj.
through cause by the directors. Ills
.crhi or otlicc would tie aevcn ycalu.
Tho National Reserve Association
wOtild lie the llacnl 'agent ol the gov?
ernment, lib earnings In excess of f?
P'.i conti uouid K'J to the government,
li would t.o authorised to Issue legal
tender notes In lieu of tut present na?
tional hunk notes. These notes would
be a Ural lieu upon nil the iiaaols of
the association. In oriter to prevent
inflation, iv'heh It's Issue of notes In
excess of tpUO.OO^.'OOO was not covered
by an equal amount "f told or lawful
money In Ita reserves. Ha notes would!
he subject to a special tax. Against!
all its liabilities, including notes, the:
.National Hi'm'i vc Association would j
hold a reserve of J.o pet cent, in Hold]
or lawful money.
Two of tho most Important features
of the proposed low remain lo be nol-|
ed. In the tirst place the National lie
neTVu Association would lo- permitted]
to deal only In notes 01 bills of ex?
change "drawn lor agricultural, com-'
litercial or Industrial purposes.'! It
would be expressly forbidden to de:ii
in notes or blll? "issued or drawn lor
the purpose of carrying Blocks, bond.;
or other Investments." As Is evident
these provisions art designed to pre?
vent mi .inllation of credit by limiting
loans to actual business transaction^
based on goods and to free the Insll
tutioii from the speculative HctlyiHes
?l Wall Street by prohibiting loan.-, on
stocks ami bonds.
This, in brief outline i:; the scheme
of banking reform proposed b> ihr: Na?
tional Monetary Commission, and which
Is erroneously termed lho Aldrieh plan.
Its main object is to provide a system
of elastic credit find CUrrcnC.v for the
proper conduct of trade, commerce nnd
manufacturing. It t.j deserving/ ol
careful consideratl/n. lor tin- reforms
It contemplates uro of vital Imporipm ?
to nil classes of our people. Son ' ol
Die most important criticisms urgi :
against ii will be taken up later.
A Word for llooscvelt.
To the Editor of The Times-UlspuIch: |
Kir,-?You do not need from me any
assurance of my sincere respect and
good will. I would not consciously ol
fi r captious or unreasonable criticism.
Yet I nrn constrained to express mj
surprise at finding in the editorial <? i
umiis of Tin- Tlm'csVDlspalch Iron;
time to time articles such as that en?
titled "fill" in your issue of tho ''th.
I can understand very well your ap?
parent dislike of Mr. Roosevelt, lie
is one of the strong men who provoke
either cordial respect or deadly ha?
tred. Heilders of your paper will hot
need lo be told how you feel toward
him. It must, of com se, oe assumed that
you are aware that there are thou?
sands of us who have a totally dif?
ferent estimate of him. emitting,
however, that there Is ample occasion
for your dislike, it is still qulle as?
tonishing that h paper of the charac?
ter, standing and ideals such rig those
of The Times-Dispatch should be will,
lug lo pat on the back the Republican
boss of New York. Mr. Win. Barnes,
or to rejoice in any of bis question?
able victories, it Is also surprising to
Hud you designating -ir. ltooseveifs
doctrines ns "nnarch'stlc." They niay
l.e visionary, they may bo foolish, they
may be unnecessary, but surely they
are not in any way akin to anarchy.
Arrayed against Mr. Koosevelt and his
own party are practically, all of the.
Republican bosses. Against him all
the party machinery is turned, the
Larimers, the. tStephenfions, Ihn P?ti
roscs, the Culhouns, the Cannons, the
Barneses and practically the entire of.
lice holding element In 1 ho South,
That fact of itself ought lo t,c slg
Ai any rate, you will not be", dls
pleased, I trust. If 1 respectfully sugr
gest that in this region of the coun?
try your renders are really more in
t crested concerning the Democratic
nominee, though If one were lo Judge
of public, opinion from the editorials
In our secular papers, he would have
..toconclude iliaL yiisuMana are far more
deeply anxious concerning Hie out?
????tm- oj l ho Republican convention,
than I hey are concerning what will
happen In Baltimore.
A Correctluu IVani < aptnln l.auih.
To tlie l-ditor of 1 "he Tlmes-lJlspatch:
sir,?My attention has been called
tu au Interview with Mr. It, ).. Petty,
published In your paper under this
date (April 16), in which In? Is re?
ported an saying that 1 pledged my
support lor what la known as the.
nnd In .'ti evening
s quoted an saying
Oinlscd him to favor
"antt-optlon I'll!";
paper Mr. Petty
that i "actually prom
said measure, but hen
i cport against it " 1
Petly has been rorrc
If he has. then his Mi'
untrue. At no time
a promise to any one,
of principle, not i>iil\
l ue publicly declared
tu opposition to said
familiar with this pb
could h.ne mlMin.b
ed the minority
mmol think Mr.
iiy quoted, but
? mem is simply
Id i ihake Midi
? ill. as ? matter
.ppored tile bill,
hy Intention to
ensure. So one
? ? "f legislation
stood ?j'r have
do so. and made the minority report
failed to know my attitude In refer?
ence to the name JOHN LA Mil,
Richmond, Apt n If..
Pleas,, toll nu
cannot lind it i
>n I have
M M.
YOl.'K sayings cam inter?
est at the rale of 3 per
cent, per annum, compound?
ed twice each year, when de?
posited in the Savings De?
partment of the National
State and C ity Hank which
is subject to strict super?
vision of the United States
Government as well as the
State Government. You can
start an account with cither
a large or small sum?SI.00
? is enough to begin.

xml | txt