The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-12-06

trust the thinking people of the country WIN
examine 1t, aud lay fast hold OF " IN Inns
most serious .iuncture, and not be leo away
by fantastic theories and quack remedies;
Such language and advice can proceed oh's
from dogmatc ignoranco-it Is just sucn
talk as we should expect from conceitco
,.
The real issue between those who want
TO 90 at once to a specie basis and those VINO
want nm increase of circulating notes Is
whether the volume of exchange to be facill'
tated shall be contracted into conformity
with the amount of money already in clrcti-
lation or whether the currency shall he eX-
nanded to an extent sufficient to operate
without baulk or friction growing volume
Of exchanges. One of these plans means
sIuggishness and feebleness Of the SECRETARY
movement; the other, strength ana Vls0r
Unmarried to the activities of commerce.. 10
take away every coin and paper doliar from
this country would not put an emu 10
business transactions, but 1t would narrow
their scope, diminish their number, anu
make them circuttous In method mere
would be vast shrinkage Of national
contraction Of the volume OF exchanges Is
Il step in The same general direction, not 50
disastrous and pernicious in its elects, SIM
ply because it goes only part OF the, way.
No doubt we can convert tue existing
amount of currency into an abundance ny
largely reducing the commerce 10 De ope-
rated. That, however, would lnillct great
damage upon the common welfare. ne emu
could be accomplished only by paraiyzlnS
labor generally and capital partially. THOSE
who advocate III immediate OF speedy re.
turn to specie payments, regardless OF
abounding obstacles, virtually claim that IN
dustry is too industrious, employment IS too
plentiful, exchanges are too numerous, anu
prosperity Is too expansive. Rather than
take departure from what seems to them
to be a close approach to coin basis these
Missionaries and impracticables virtually dc-
clare their willingness to wade through
bankruptcy to specie payments.
One very reprehcnsible motive Is atlrl3uta-
BILE 10 certain class Of those who are Ylo-
lently opposing every proposed increase OF
circulating notes. We mean the class that
makes money out Of the distrcsScs Of other
people. There are some men so supremely
selfish and aVariciouS as TO Sioat over The
prospect of panic or monetary Strin-
gency, because they are enabled by the
tiuancial difficulties of the C0ultry to buy ut
4 tremendous sacrifice large quantities Of
property or Of commodities to be held for
immense profits against the day of return-
Ing prosperity and 20 prices. Such birds
of prey in society reinforce, by their grasp
Inc operations, the tendency 10 monopoly,
and put in motion set OF causes which
reach out in the direction Of 4 moneycd arts
tocracy. A refusal to expand the currency
to a volume sufficient TO facilitate all the cN-
changes needed to be made would be Cqu!-
yacnt to Il deliberate alliance with those
who want to thrive on the distresses of the
commercial community. The Nation pracii-
cally stands up for such all alliance.
The country does not want iu1la.ion, but
it needs expansion of the currency. For
some years our condition has been that OF Il
man who possesses q fixed number Of hail
bushcl baskets with steadily increasing
bulk of grain to be measured, aud with a
constantly auymcntiug demand for grain
among his customers. OF course, the only
remedy in such Case would lie a sufficient
addition TO the mau'S stock OF hal-DuShel
baskets. Paper dollars are just now the half
bu>hcl measures Of coMmerce-the ln>tfu-
mcnts of transferable power. When it be-
came requisite to move the crops to market,
a vast addition WAS suddenly made to the
ordinary quantity of things to be transfer
red from hand TO hand, and scramble took
pl4cc for the temporary possession oil INC
half-bIsh4l baskets OF commerce.
There not having been enough for all at
once, some have been compelled TO stand
idle while others were served. Had there
been plenty Of the hali-DusLel baskets OF
commerce to 80 round, We would have had
10 panic, no strinseucy, no discharge OF
workmcD, no shrinkuge of industry, no la'!
of values, no unusual suffering among The
people. The past is beyond our control,
but provision can be made against any such
recurrence. In vain will the Nation raise
alot The banner OF the usurrrs, Of the vul-
lures of society, Of the nlonopoli>ts, Of the
moaey-kings Of The East. The people know
what they want-it is more money to ope-
rate the growing exchange OF the country.
Woe unto Congress il Congress should re-
fuse to comply with this reasonable demand
ofthe people upon government of the poo
pie instituted by and for the people.