The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-02-26
1Enr The DisDai CHI.
The Alliance bctN cen the sOufh and
west at last formed, and Glorious
Victory 7ne result.

The Alliance befN cen the sonth ana
West mt last formed, and Glorious
Victory zne result.
Messrs. Editors,-On Friday last vote
was taken in the Senate Of the United States
on MIR. Merrimon's of North Caroina)
amendment providing for the Increase Of the
National bank circulation 10 S40U, 000,O
This, with the additional egatender issue
of S40O, 0O0,0 900, will make the amount in
circulation $500, 100000.
Should the legal.reServe provision be re.
pealed it will add some $S0000,0 900 to the
real circulation of the country, making of
ega!-tenders and bank issues in circulation
$3.50, 0C0,0 900 more than before the late panic.
This vote is one OF especial significance, as
it is the first time since the war when the
great agricultural interests Of the South,
West, and Northwest have united on the
floor of Congress. and the result is glo-
rious triumph over New England and por-
tons Of the Middle States, which have been
the controlling sections in the National Gov
eminent since the secession OF the South in
1861. ...... .....
This vote points most significantly to that
result which has been so devoutly wished
for when New England can no longer run
the Government in the Interests of extreme
RddicaHsm, nor in her own peculiar inter-
ests.
This struggle, which has been going on
| for some weeks on tie floor OF the Senate,
| was an effort to contract the currency, ana
thereby produce resumption Of specie pay
| ment Oh the part OF the eastern States, which
| hold most Of the paper obligations of the
/ Government, obtained during the war at
forty to fifty cents in the dollar, which they
are now trying 10 make equivalent to the
gold dollar, and this, too, at The expense Of
| the great consuming and producing sections
Of the South and West.
ItiS, moreover, subject of supreme con-
graduation to the South, whose farmers are
deeply in debt contracted in the extreme
prices which they were compelled to pay fol
everything they consumed after the war-tt
see this selfish effort Of New England 10 con
tract the currency, and thereby produce 8
shrlnkaqe OF values in 100000 bales of cot
top. oC5.OOO, 900 pounds OF tobacco, 1900,
100000 bushels Of grain-the annual Growtl
of the South and West-thus foiled.
The South can now obtain her just share
OF the national currency, the want OF Which
bus been tae l::ain cause Of her failure to de
yelop those vast resources, agricultural ant
mineral, which she possesses In such pro
fusion.
Let Congress now go on to complete tn
results of this triumph by authorizing al
interconuerti6le bond bearing 1855 currenc,
interest, in which the honest hboring mai
can put his little savings as safe depository
resting on the credit Of the nation, ana Q
the same time eRable him to convert ID
same into money whenever his wants re
quire it. .:5rf.ss ysisg. a.e5 ,.zs.,
/ These bonds will, moreover, prove, an at
soEbeat for the surplus currency which as
cumHlates In the centres Of trade durin
those intermediate periods when the eroi
are not moving forward 40 market, andgis
that hsxibiIay to our financial systel
I which fl conceded on all hands to be niece
sary to prevent such panics as the one WHO
| has Just spread Its dark pail lover the fnda
i tries OF this lard. 1t should go further, 10
proclaim that " hick the Supreme Court ha
declared 70 be y lei, l-tender between cisize
and CITIZEN shill likewise be iegal-tend,
te.Weea The ..a.iz u and the Gryernnentii !