The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1868-12-24
Specie Payments.

- Specie Payments.
General SPINNER, the Treasurer OF she
United States, has written letter upon the
subject of the resumption of specie pay
ments in response to q letter on the same
topic written by the Treasurer Of the State
Of Massachusetts, who, however, entertains
different views from those held by General
SPINNER. The latter is decidedly opposed
to the GREELEY and SUMMER theory OF an
Immediate resumption Of coin payments
and as decidedly avcrse to BUFFERS oo',
trine that it would be better for puoiic anu
private interests that specie payments
should be indefinitely postponed. In reply
70 the statements Of Mr.. GREELEY ina.
athe way to resumption is to resume
General SPINNER says: cit would not
uhr;nr drowned man to life to repeat
"never so often that the way to resus-
"ci.at;on is to resuscitate.' Neither will
"the other cry avail. Patient apph-
50 cations of the proper means are neces-
"sary in either case. The other extreme
"the putting off tho time for effort lnde-
finitely, is equally dangerous; for unless
"the subject is treated in time 1t may be
Externally too late.''
General SPINNER says he is strongly IN
cljned to favor Senator MoRToS's bill, out
prefers to sec it amended in various partl-
culars-one of which is that "the banks
"should not be permitted to remain IN
estate of suspension for day, much less
I" for sir months, as he proposes, after re-
"sumption by the Treasury of the United
"Ssates"; and another is that "the dlVl-
udepds on the Government stocks belong
cling to the banks, but held in trust by the
Treasurer as security for the redemption
"of circulating notes, should be retained
"by the Treasurer, and not be made over to
athe banks, to be held by them until the
"dsy of resumption; and the retention Oh
"these dividends by the Treasurer should
commence year earlier than proposed
"by the bill.'
He further writes IS If it is right to give
uthe banks six months after the Govern
"ment shall have resumed, at the emu OF
(which they shall resume, then 1t would
"seem equally right that individual debtors
"to the banks should have another SIX
"months after resumption by the banks
"before they shall be required to make
"payments in coin or it's equivalent" The
letter is long and very comprehensive.
Coming from fnancier so distinguished as
General SPINNER, it cannot but attract at
tention. The concluding portions Of it are
as follows:
"No one in or out of Congress, whether
"of the public press or otherwise, should
"insist upon having his preconceived opin-
lion adopted in all particulars. Friendly,
"fair, and calm discussion can do no pos
"sible harm, and may do much good. The
"attrition of mind against mind will pro-
"bably work out the problem in satisfac-
STORY manuer. Few great achievements
"are the product of a single mind. Ali
"who have the interest of the country OF
"heart should DO willing to give and take
"and SO this question will probably be set
"tled, not the very best way that it posi-
"bly might be, but SO as to be the average
"best judgment of the people. When sc
orsf: Each and all after making n sacfi:
" fees for full preparation for the earliest
&C safe day for resumption, must then make
ga long pull, strong pull, and pull alto
"gether, for the desired good, and the
"happy consummation will be certainly and
permanently attained"
The long letter of Mr.. GREELEY in the
Tribune of Monday addressed to Senator
MORTON, and detailing the views of the
former concerning the resumption of specie
payments, is said to be regarded with gene
raj interest in Washington financial circles,
though this does not mean that the views
expressed are endorsed by any number of
those who have read the remaks. Governor
MORTON, our Washington correspondent in
forms us, intends writing an elaborate reply
to the letter of Mr.. GREELEY.