The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1864-03-26
The Gold DiIl & the North.

No eHOIQ 1t1At ~ t00 NVHsns
Chase's gold bill, which he sos through ceaEress.
has not beea effective IN keeping esid down In
New York. Tho following predictions ffon the
New York World 6efsfe ~ passssa .have been
pretty we'll verified:
Heaven knows we should like 20 keep the price
Of gold down. Nr. chase,s inflated irfe4ieer1abie
paper currency reduced our pfofis lass yeas ~ q
good mrny thousand dollars, and We siislibe anahk
ful II this year Is not woSsc. IL the gold Dill would
keep down the prics Of gotd II would certainly be
VIII not keep down the price of gold. and II the
bill passes gur reasoning will soon enough ind
abundant confirmation in the faet.
On the gold reserve depends al last the credit Of
Mr. Chase aud bis CO laborers have knocked away
II II the afossest viOiJeu Of pubic faith with the
nations creditors TO knock away his prop also IL
encourages . Ananciai immosa!ity which viii teach
the people the shameful lsssoH Of reputation.
But II II 10 useless In these times 10 preach stset
financial morale. lst " repeat. that the gOi h.i
wilt not accomplish what those who east patriotic
oPmemherS W sold gold ana siten voted fer ,hs
cold bill, and who wiif 50 vote again IL doubtless
may accomplish. I: viii put down the pric TEN,
porariiy. Bus the measure OF It's depression Will
be less thar she measure nj H. e.syaiton when Mr.
Chase comes 10 want the geld again. what he
may gain now he must lose then, aiit We retterstc
tiar with Our present d-bs. 10 say nothing at It's
enormous rare az nerease, Mr. Chase. has not had,
has not aow, and will not have, aay too much Aod
10 discharge the ohlig siiaas OF the Cove niIe,,t
There Is but aEe way toa edace ttls price OF gold
eernianent'y. fis s1as IL stable. ot esar-e, de
peading cost Of production, the price ilnctu&-
tions H2iDg above failing below that exact MARI,
with this instability OF supply and demand pefpein-
ally adjusting themselves 10 an equilibrium To
reduce the price ei gold 10 to say, raise the price
Of the paper, which, except Ia California, Mr.
Chase has made his financial yard stick. Aud
since the cost Of production of an inconvertItle
paper currency ie practically nothing, and its
value must depend Hb-e exclusively thsn ever
upon It's supply, after ths issue Of enough 10 ds.
place specie and The ceavertb!c currency In raise
The price OF green.hacks, d.ninish the supply Of
green backs. Then gold will tail, ant NO. iii
then. But no; Mr.. Chase is pouring ont new is
sues, and more are yet tn come. Congress po!.e..
over such ilnancia! fdi'e faidie the said bill,
aud nsvef looks 10 the siuices witch the secsr
ta.y guards. Gold viii tiSe-:sat is, legal tender
money viii fali-in value; paper dciiaI viii soon
be worth ieSs than fifty pennies, and there wil be
politicians like Greeley who will uahe fools iike
his followers believe tait speculation makes The
difference between Chlse's pager and natures
gold; that with fresh ISSUES Of e,sI tender the prs.
Iaium on gold can be Slightly 'reduced," and The
nation Will pay as the bitter p-tce Of its folly IN
electins fanatics 10 power not oay the billions iu
which we reckon the cost ~ the war which they
conspired with Southern fanatics 10 cnkndle hui
also still other billions, OF which tho Government
Is depriving the iaboIing classes exclusively by a
daily, constant, impovetishns dfain.