Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1853-11-22

prol IS 10 the Government and the people, and nov
to cap the climax let us see what il COS. the Govern
mcnt under this admirable system tog,t it back int
circulation. Here again, quote Mr.. Dix (irs
part Of his artic'c) II cost the Government 81 pc
cent-a high usuryto get it out Of the Treasury int,
circulation. So that after being useless in part for
months take the and say . it cost 81 per cent
TO ket into circulation again to stop the impending
'scvcre if not fsta' shock, Let make cal, IT.
laon 10 millions interest G. per n. W for
months, twcnty-nne thousand hundred and
sixty-ix dollars and sixty,Six and twothird cents
lost to the public and the Government in inercS,
and 81 per cent on S2,70o, OOO-S567, 0O0-over a
half million lost in getting it into
total loss say in round numbers $4,000 lost alto
gcthcr in !; mon MS. What splendid financial sys>
tenn This is the transaction which Mr.. Dix exhibits
and which the Richmond Enquire; quotes as Al
trous specmcn OF "ihc wisdom Of Democratic poll
cy'" Well we believe it, 1t is specimen Of that
wisdom which has hid ideas under wordS--concealei
effects by imputing them to wrong causes and which
has in short humbucgcd the country
a Bank of the United States, The Bank of the Uni.
ted States would have safely kept and disburscd this
money without the cost of one cent to the United
States, while the community would have had the use
OF it in the form of discounts The Government new
remained National Bank. Here is loss, in one op-
Grafton of nearly 100000,
We admit the wisdom of reGeeming in this way and
at such crisis the public debt but we dcplorc tho
folly of that policy which caused The pressure and
created these losses We admit that the next best
and most obvious thing after withdrawing the coin
wa to put it back again, but we dcplore the folly
which makes it necessary to withdraw it, The iesc.
D., a a., A.,
safe ami the money left in circulation or not SO with.
drawn as TO create pressure.
lie would scarcely be called philanthropic doctor
who should invent malay for tho sake of curing it
is that wise financial system which creates a
panic TO show It's skill in stopping it and then trumpet
its praises through its own mouthpieccs
Mr.. John \. Dix, be it remembered, receives per
centa.e Il csc sums No doubt in his eyes it is ala
admirable system No doub; the broker, who share
the profits of these exchanges think So Bat we sub
init whether the yeomanry o: the country and tie
merchants of the towns think SO.
Nor is it alone in the stupculou, folly which we
trust We Lave in oha>y manner made apparent that
the subireaSury is illusion. Ii is not in practical
operation according u the terms of the law creating
it. That law m poses Imprisonment in the Peniten-
tary for the least ntracton of it, provisions II a
strict account Of the sub.,rcaSurcrs were taken
whether ihcy have leviatcd from the requirements OF
the law We predict that not one of them would cS-
cape with less than hundred years piece cf incar-
ceratOn. The law inlibts any resort tn checks bills
a.. Bat it is notorious that they are rcSorted to-
ThC notorious Guthrie getting into the Treasury
Department, in order to sgnaliSc. his advent As he
has since consccrated his fame undertook to remedy
tS and therefore sent umberiug the country TO
some Western point, suudry huge boxes of coin, on
which the iasehood was stamped that they were
United States Mu>kets Is this another evidence Of
Democratic wisdom: We IN sht multiply instances
But enough
The truth is, I'm Ter any system however bad either
o; laying, receiving, keeping discussing the reye-
nue., the country must prosper. Not because Of it.
but in spite Of it. For this there are natural causes
which exist and operate independently of any party
or measure The question is i the country pros.
porous but under which system will it prosper most
/ But whenever from these natural causes there j.
evident prosperity the Democracy fling up their caps
and say behold the wisdom Of orr measures: see the
result OF our labors aul the rs said on the fast re
solvin; wheel, see how make it turn JI-e do not
doubt that some of the faithful confidently believe
h"' H. '~e~-." e ti, GOLD win, la California Is
oihc wise results ofhe Democratic
Certainly il not this something equally absurd and
untrue is constantly told to them
| Let the Enquirer and Mr.. Dix, pending their truce
on Free Sol!sn, figure out the question why the
country Is fooled with bank paper and shin.plaster