The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-11-25
Ss,ortG Payments.

General ]. !. Gordon. tie III" senator
from Georgia, talks % the EaId-moncy olj
fu9ies AZ fellows:
The financial history q this aud every
ether nation furnishes abundant evidence o!
the fact that specie payment docs not pIcycut
commercial tt!sas lcr>, aaQ that the gcnc:!!
prosperity Of the country does not depend
uD5n the price Of gold. \ 10" state Of PROS
HeI!:y, an,! even Srea,poycriv, may aud do TO-
exist with al Abundant supply of gold and
silver. This is illustrated in the history of
most European nations. spain and Pcrt!t-
M:s.l the only medium Of exchange, and
where tbcr urn most abundant, and where
heir export is discouraged by law, became
thu mos. bc-garIy countries in CAri:tcndom.
England. on lie other hand, during her
vars viii: Hapole3D, ard Tor more than
twenty ycar-, discouraged the piynGot Of
.,cc;p. and eili.:ycd Il season Of uncEamn! pied
prosperity. Lat the eject Of her subsequent
forced resumption furnish Ii Il warnnf. Il
ctr!aictl hui. productions. depressed the el-
ergies u hei people, cnttlrd heavy losses
upon every Industry Of the Commonwealth,
an. II decree oG distress and suffering "A!cI
il Is di!licIit - rNiy9"ra'r.'
EtSuMrrlo%.
lie gor, on 10 tikc the skin oil Tie :iGrir-
tom who advocate forced resumption:
Il would not he understood a opposing
rp,llDlnlion mhtn il can take place without
violation If tie established laws ni trade
What OPPOSE Is any forced resumption.
Oliiyia}> aud The public, Herl>li Will! anxiety.
rush - the conclusion that compulsory re-
sumption Is - relieve us; and Wlch expert
vr"e and history appear is Witnesses against
he wisdom o! such policy these Witnesses
;rn condemned and put out oi CONT, - +:re%'
i he force .! 1,r"coicgircd OPINIONS. lei IL
b, borne >!eAd:Iy in miud TINT wealth does
10: depend upon the price OF gold, bat upon
The manufactures and agricultural products
o. people. Gold has stcadI, decreased Ill
price VIII! III since the war; but has cur
PROSPERITY pr1r0l'ionaGcly incrca>edT Re
sumption viii l2 easy, >aic, and speedy il We
can encourage by Il full bu: not redundant
supply Of cheap money the PRODUCTIONS
O! this vast cotton and sran-9roWin9
country. Even redundancy. which must be
avoided, is better than insuiticicncy. VITA,
in Il short period after Scotland Chartered
private banking companies 1nt douplcd htf
circulation, Wthslandlng tie rcpfcncils-
be conduct OF some Vi tHcsc i!iS'liuti'u7, III.
more than QGadruped her productions ana
resources. Her circulation of f2,0Oe,00O
was iHscd upon GOLD OF not exceeding GJ10.'
900. \ similar policy with IL would be The
c.!rcst road to resumption, and at the same
t;Ilc G3r the tcit-Durdcred South iii" best
BANKRUPT law Congress could enact. With
ri.i,i "tn,lO.ny, cheap treiGhts, and low inter-
Ell OF. money. we would soon find our way
out Of our troubles. Resumption now * i'm
D0>aihie-to force il 1T any time would DC
disastrous. What need have We Of gold eX-
ccpt in settling foreign balances; j is not
essential to domestic trade, which all cNpt-
ricuce proves aud political economists agree
ai'Jrds tue greatest revenue. ii every dol
lar Of gold were ban>hed from the country.
and every gold and silver mine on the con-
tinent were sunk hy III earthquake, il Won'Q
noi destroy our wealth nor decrease our
prosperity. provided in lieu thereof "e pos.
-o>ssd currency which would meet the
waits OF domestic trade.
THE annua! products of our land and h
boz. let mu repeat, are Our wealth. Let these
rc stored and d. vcluped to Their full cN-
tent. and our cotton aud grain vii! bring to
us all the gold needed for cantel!ins any
foreign debt"