The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-01-06
r,,=saoss ara E.e;:Sy.Ss.

/ We observe that newspapers from nearly
all sections of the Union are expressing
opinions and hopes favorable to an increase
in business and ease In the money marker.
The Newly ears dividends and general pay
mants come In at a good time and assist
materially to r,a.sufe the public and facilitate
the regeneration Of confidence, commerce,
and industry which has been for some time
In the course OF improvement. Is
The causes of our suferings are go well
known that it were supeIerogatory to recite
them. But we may say that as tue result Of
the panic was the boarding of the paper mo-
ney which was Indispensable to the prosccu.
ton Of business and Development OF enter
prize these have suffered heavily. The pres
sure his been quite emphatic and prolonged
The remeds for it, in great degree, is the
restoration of confidence, and that hes been
gradually recovering for two months past
The money paid out, as VIC remarked above
this new year will help its restoration very
much. The paper money that was with
drawn being agaia in circulation, great ease
will be impaired to all the walks oil COM
| merce and industry.
But there is not enough currency afloat IN
the country. The Old liard-noney econo'
raists are ever obieciiug to what they call
inf ation-viz, the increasing of the amount
of paper money. They draw no distinction
between the manner in which paper money
was formerly put into circulation and the
manner in which it is now uttered. In
former days when banks put the printing
press into operation they were compelled TO
10 wer the standard Of soiyency 10 get their
paper out. That is, they loaned to men
who were not pecuniarily reliable. So that
money got out through discounts on doubt
full notes, and large proportion OF them
proving insolvent, crash was always the
consequence. But now every dollar OF
paper issued is represented by more than
dollar and ten cent: OF the public bonds
the promises-to-pay OF tic whole nation.
We hold that Willie the United States debt
is not increased materially beyond its pre-
sent aggregate. it is not possible to overload
the country with paper money. No man
can get that money from the Government
without plcdging more than dollar for dol
lar for all be gets. The capacity of the
regular business to absorb currency is the
limit to the amount that will be procured by
bankers.
Therefore the approximations of the Tirtu-
GUS economists are g"oundeSs. "EXpan-
sion'' and imitation" arc two different
things. The national currency is too soila'y
sustained to be dscrcditcd by giving Tue
people enough of ii for their bu'ineSs ana
industry. 1t is not possible under the
guards of The process by which national
hank pancr is issued to diScredit it. 1t is
not susceptible of that thing called "inia'
tion," which, continued, ends in "burst-
ing" That paper must be good; and the
very fact is bar to such banking as may I'M
peril the safety of the institutions which
have pledged more than enough for the re-
demption Of this paper. Never before, we
venture to say, was the character of paper
offered for discount so closely scrutinized in
this country.
Increase or no increase of the aggregate OF
currency, things viii! get better in the bust.
ness world. This country cannot he long
kept down BIZ untoward events in the field
of speculation.