Daily Richmond Whig. [volume] (Richmond, Va.) 1861-1862, 1861-10-26

lar faith or QUESTION the divinity OF the Golden JAIL
Tho truth b. TIE Ignorant and the feeble are subjected 20
the speoe standard in tho settlement OF their accounts
h,a tboas whom accidental circumstances enable to
discharge or create obligations by simply signing their
n.ysa have very different and far more expanded
Standard OF value.
How gold and silver became the standard Of value
nvstery Political economists content then ss'es with
erg Us that il owing TO their scarcity and tue con-
venience Of transportation Their Intrinsic value is less
than irop which Ia necessity to eivilzsd liie They
have been the Recognized standards from the remoes
autQliry. We have only one instance OF national a.
ten pt TO establish different stand ard tha! was
made By the sprtans and iron was the substitute pro-
70 ed The abundance Of that metal Notwithstanding
iss Intrinsic WORTH and the difficulty OF transportation
rendered the effort Abort7e The moral Effects OF this
attempted innovation upon established usage it. indeed,
the adiug traits Ia Spartan character be re'errabIe TO
it, were very great Il produced the frat and only n'
stance ever seen In history Of nation Of rosues who
we're al the same time, nation Of heroes for the
Sparans, with all their valor thoroughly MERGE
ary and inc orrisi5e tseves Their experiment might
rot have iaed il they had been a~ars OF the great In
yertiou of modern tmsslhe bank note and bill Of eI.
change Blu. success nigh, have greatly moda their
character aud rendered them not only as aVaracOus and
kuavish ut as co EArdly as the Yankees.
The couv-nIenos of carrying large value In small
space, oae Of the conv,uiences which originally sug.
gssted sprcis ts a measure OF value, longer eI'
as In that respect the airy lghneSs Of paper out
rips I'll competition. The other circumstance scarcity
aod uniformity Of value has also diminished In these
l,tsr years Since 1850 the amount OF gold has doubled,
sud Its value though reduced is not diminished IN pro-
portion to the increase Of quantity. The Increased
oupny Il 100 per cent the diminished value Is esi'
mated at II per cent-suoLher Prooi-lf proof we're
xap,ed-thst quantity alone does not determine the
value of an article The adj al element, demand,
enters Iato the composition and asserts controlling In
6aeuee.
These facts suggest the possibility OF dethrsn'og the
Golden Cali aad substituting another standard OF value.
70 attempt such gu experiment may seem a. irutess as
mourning ice los, books OF LiVy lSmeong the van
ity OF human wishes and yet the condition Of the South
sru sates possessing article of limited production
and universal demand affords the res; prop,Ct Of It's
success the world has ever known. Our neoessiues
sOpeprs ~th hs desire of being delivered from the DO
minion of fraud and nPoSue, TO urge the substitution
os the new king, Cotton, for the old king Gold. The
substitution ia demanded in VindcslOn Of the preten
son that re repudiats the worship Of slams and hum
ougs To believe that paper money ia the representa-
i've eg specie il 10 believe Ia fssehood palpable to oil
mems senses Why, II the thing be possible, square
our conduct aud cur faith TO the facts