The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1863-09-12

in Europe. The japanese did not seek
their company, and did not want it
We wish to God it were possible for them
10 sink every Yankee ship and slanghte,
every Yankee soldier that may be sent
AGAINST them.
MorlLlER When the Register of the
Treasury, Mr.. Robert Tyler, said that
our finances were the weak point of our
,letences, he spoke very painful, but
very apparent, and. let us add, a
very useful truth. Since AN officer
50 high in the esteem of the GOV
crnment has not hcstitated to proclaim
such fact, and to prove it by statistics,
We presume that newspapers will no
longer be charged with a desire to render
the public distrustful of the currency,
when they venture to hint that it is some
alat redundant and ought to be curtail-
ed In fact, we can see neither sense
nor policy in attempting to conceal truth
which is obvious TO the whole world a
defect which can be cured only by con
centrating public thought upon it. That
the circulation Of the Conlederacy reach
I'd al one time 1924, OO0,0 900; that it is
still within Il fraction of $500, 900, 900,
and that the Secretary's estimate Of its
opacity of endurance is far above the
mark, arc truths which ought to DC
haoan TO the whole country. When the
crash Of lS57-the greatest and most ex
tensye that the world had witnessed since
the explosion of Laws Mississippi scheme
in France, and the South Sea bubble in
England-took place, the circulation of the
whole country-gold, silver, and notes
although the population was over %, 00O,-
GOO, was only $2l4, 4,0OO,o1o and frac-
ton. Yet it was the redundancy of the
currency that ocasioned the explosion.
Any nan, therefore, who has grain Of
common sense must see the danger Ot 4
country, numbering six or seven mil
lions Of inhabitants, IN which circula-
ton three times as large as that which
produced this great calamity is in exist
eace, and we cannot see the object to be
gaineib by refraining to comment upon it.
The whole country already knows all
about it, and perfectly understands the
consequences, unless stop be put to
further issues, and the volume Of the
outstanding notes he reduced to third
Of its present bulk.
The great question is, How is this to
he done The tax will do much;~ but
Mr. MemMlnser's; remorscless printing
press threatens to neltralizc all the bene
lit that otherwise might be expected
from it. While it is estimated that the
tax will call in old issues, or prevent new
ones, to the amount Of $40O, 900, 600,
MI. Memmingers assiyaats are pouring
forth from his fatal machine at the rate
oi SjD 5000 month. Unless it can
be stopped We see no good to be derived
from either the tax or the sale Of the
cotton loan bonds. Doubtless some steps
viii be taken to that end by Congress,
unless We are to be overwhelmed by
l'ieSe assigaqts. Ii it can possibly bc
arrested, then, we think, the tax and the
cotton loan might be so managed as to
cause reduction equal to the demands
OF the country.
When Napoleon ILL.,, upon getting
possession oil the throne, found the
hhanccs OF France in an embarrassed
condition. and no money in the treasury,
he conceived the idea of relieving the
national necessities by means Of what he
terms the credit mobilier-that is, ma
,tonal loan, in which every individual Of
France should partake. The loan Was
aa'er!ised-the Emperor made a strong
appeal to the peoplenearly every man,
woman and child in France took share
and 1t was all taken. Every person was
allowed to subscribe according to his or
hef ability. Some took whole share,
some hall, some third, some quar-
YER and SO on. Now, people may say
what they please of jeff Davis, and We
ourselves sometimes criticisc his acts
pretty freely. He has made many mistakes
q y course. for he is man, and subject TO
We natara; laws that regulate the hu
man ~ mind. To say that he occasionally
Ssa'"'ers, Is but to say that he is human.
.'ssertheless, he is one Of the most res
"'A,kable men Of this or any other age,
aila The people at large know it, as we'll
rs Me Yankees and Europeans. They
a'e conscious that hs has made as few
mistakes as any man probably could
nave "';', made in his situation, and that
a'u The smallest means ever placed in
lug lands Ct revolutionary leader, he
.4s eontriyed to carry On / wsr more
npsnendons than any ever waged against
naParte. They see Oh this, and their
so,adehce Ia him IN unhounded. II he
sh, shhaissae proclamation appealing 70 the
"S's people 10 come forward and take
Nus Nus cotton loan, in the way the loan Of