The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-01-07
from the Chicago journal OF Commercc.l
Words or Wisdom Well Timed.

The Cincinnati Trade List lis inspired
with the true spirit of financial wisdom. We
transfer to our columns, with great plea.
sure, Its words of wisdom i'm reference to
| the wants Of the present time. Unless our
senators aud representatives In Congress
consult the wants Oft people more and
the demands Of Shylocks, bankers, and mo-
ncv.brokers less, they will hear from their
constituents when they return home execra-
lions which will cause5t their earsto Jingle.
| We feel perfectly confident that the senti-
| ments we give below are fair report OF the
| niatured convictions of nlne.tenths OF all
| the intelligent manufacturers OF the United
States. Congress can in no way so readily
relieve the people as by needing the cry:
GIVE Us CURRENCY.
"Those who write and talk about the
financial situation are inclined to refer 10
various examples and precedents from which
to drawntheir differences, evidently without
stopping TO reflect that the present anon
alous condition of tue currency is without
precedent, and therefore cannot be treated
by previously approved financial logic, espe-
cialIy in the details of measures for relief
| The nervous defamation against expansion
| of the currency is made up wholly of words
as long as it fails to afford information on
1
volume of circulating medium the. business
Of the country requires. We may also ask,
without running serious risk of denuncia-
ton as an inhationist, If an increase IN the
volume of currency should not bear posi-
five promotion to the increase in the volume
of business? And then it may be in order
to inuuire if q general contraction OF credits,
which is an undeniable effect Of the panic,
} does not call for more ready means OF
making what are denominated cash pay
ments' than were required before The pre-
sent stringency2
ave ask q manufacturer why he dis.
| charges his workmen. In nine cases OUT o,
ten he will reply that he is not able to find
the means of paying them. He is not col
: Icctiup his bills receivable because his Gus
toners have not the money, and they cannon
! get It because it is scarce, or, in other words
because there is not enough to do the bust
! ness of the country on a liberal basis. There
fore business anguishes, and not less tnal
4 ,OOO, 900 workingmen throughout the lant
e are idle-not because their WORK Is no
I wanted, for the resources and demands O
r our country are practically exhausttess, Du
/, simDlv because no representative OF value
e exists in sufficient quantity to enable manu-
facturers to liquidate the expenses Of ylgor'
u Gus operation.
e owe do not imagine the emergent queS
= ton of the day to be whether this or tina
s particular form of currency is best as mos
d surely leading to specie payment, but, rather
= how can we the most promptly avail oui
y selves of a sufc currency in sufficient Yolum
e TO lubricate all the idle wheels Of industry
c. and drive On the car of manufactures, con
Re merce, and trade ut pace commensurate
e with our resources and wants2 Some mel
er sure of relief must be promptly adopted
n ,..i, ~, most iQportant conditions ar
rec promptness and effectiveness. It 49,
nd important whether all its details meet t
eW views OF professional fnanciers. 1t is n
10 expected they will exactly please banker
ed whose business is most prosperous VIII
ore currency commands the highest price: b
OF it is important and necessary to respond
the wants Of the general business to me
al and avert the danger of general bankruptt
This seems reasonably plain.
. "a very hungry man does not stop
W. criticize meal of corn bread and bacon, a.
demand roast turkey or nothing. His gre
want is something to cat. An engine,
i'll. when the journals and valves of his machiI
VII ry are cutting,' does not insist upon usil
the best lard oil to lubricate them when
of knows he cannot get it. lie takes the be
If lubricator within his reach, and makes it a
no. swer the purpose. He is not in situati,
On. to indulge in long argument, for the dan
m age increases in fearful ratio, and lie mt
en-. act promptly. Our people are hungry f
nv business, and the journals and valves
Of our great industries are cutting terrib
If for want of curreLcy lubricator. We ba
or no time to spend in chickering's over its pa
I'll ticular brand, for the question is reduced
in simple considerations Of expediency, al
nv they must be responded to without della
nv Atteward such amendments and amplifit
Ia tons may be made as more matured wsdo
ed and greater experience dictate; but no
us give us something taliS!oie ID Tue shape Vi
on SAFE currency, III sunlcieIt quantity " he
on not upon the order Of your giving, but gi
to at once"