The Norfolk post. [volume] (Norfolk, Va.) 1865-1866, 1866-02-01


may be danger of commercial crisis in
and the whole financial sys.
tenn of that country may be shaken, if
not overturned; but it will not have
much effect upon us. The best thing,
in anticipation of such an event, the
capitalists can do, is to invest
in American securities, which will soon
be at par, for a return TO specie payment
cannot long be delayed; and so far from
my intention or danger of reputation
in this country, the only apprehension
now felt is that the Government will
pay off the national debt too fast, and
deprive the holders of our securities of
the profits they anticipate by failure
to redeem the bonds when they fall
due. Our finances were never In more
healthy condition; and as we increase
in population and wealth, in the same
ratio will the burden of taxation be
lightened each year, so that at the end OF
twenty years, we shall not feel the weight
of our debt at all. We could return to
specie payments now, no doubt, but such
a course would be ruinous to all interests
In the country, and cause general
panic-which must be avoided. Bring
paper money and gold to the same level
suddenly, and it would be more disas-
trous than the sudden breaking of an
ice gorge on the Mississippi, ora erevasse,
to the riparian property owners. Our
currency must be left to find its level
gradually, and If gold falls but cent or
two every month, it will be all the better
for the country-for by that means we
can glide imperceptibly back to the days
Of hard money, and will be gingling
gold and silver in our pockets without
being able to tell wherefore. This is a
popular view of the matter--and its cor
rectness must be apparent to all. With
fall restoration of the Union this era
Of hard currency will come, for conf
dence will be fully restored-and that's
all we require to make dollar in green
backs, or national bank currency, as
good as gold, and even better.-for who
wants to be annoyed with heavy and
cumbrous metals, a hundred dollars OF
which is so inconvenien 70 carry around
in a pocket-purse, when paper money ia
in every respect its equal in value
England, which never can and never
expects to pay her debts, is liable at all
times to financial revulsions,- and 1t IL
not improbable that she may some day
repudiate all Of her obligations; there
fore, If her capitalists are wise they will
secure themselves in time by investing
in American securities. The Irish re-
bellion may double the present debt Of
England, and stop specie payment
throughout the British empire, and
when that time arrives we shall see the
boosted wealth Of the empire take tt
Itself wings-and prudent men as they
pass along will point their fingers ant
say: Behold the Bankrupt nation
The London Times will have enough
to do to take care of British credit
The resources of the United States ar,
ample to pay all its debts. The sun nj
where else shines OIL so productivea sol
as we can boast in our cotton fields, ant
gold fields; and the inexhaustible sup
plies of corn and oil, and the rich an,
Z = 10,
combine to make us the most envied ma
ton OH earth. And, although publ
confidence at present demands som
guaranty or reinsurance of stability il
the Government, and our credit hang
in the balance, as it were, by reason o.
this want of faith, still with final ant
just settlement ofthe domesticquestions
and q guaranty of permanent peace a
home and abroad, we shall not only be
come the happiest but the wealthiest
most honest and most prosperous peopl
the world ever saw. Then let us hastel
the return of the golden age"
The Richmond Dispatch is certainI,
very Just and reasonable journal. i
is manly in its tone, and devoid O
childish spite. There can be no ques-
tioning its sympathies for the people o
Virginia, and devotion to her old popu
lation; but it does not waste its time in
shedding unavailing tears weeping in
the seclusion of the closet, or at tho
family fireside-over the downfall of the
Confederacy. Nor does it expend its dear
est action in abusing everybody thai
don't happen to view things in the same
light that it does. looking hopefully
to the future, the Dispatch seems to be
anxious to make up for lost time and to
bury the past in the tomb of the Capu.
lets-and though it stood manfully w
for young Romeo, after the manner Of
slain Mercutio, it evidently feels like
hurting playful anathema against both
the rival houses. In a lengthy but
kindly toned article, 1t endeavors to
dissuade its fellow-citizens from leaving
the Great Republic, and seeking in 9th Ell
lands to better theircondition. 1t closes
in the following hopeful and good ma
tured vein!
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