The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1874-03-12

tthe I banks y 81 TIC United s,s,s.
pisl iaec exist in Ensiaud Az, ~. AID ths
Essock banks make fifteen IN thia us sIfle ssdks
f!9r tner pr oprfetcrs, and Iarg pei CEN.
Etnfee to i've per cent, nor . ,suo Honey at
ana Why? Because The t,ues sanum Usually;
ton is provided FIR hs o. fedenp.
OF England, and 90 v,,,, tae Bank
Vow we al nad an equally creditab.e iu,,,,ss
;ory, and singalarly you aIso aj,oS Dur !, is,r
, Ivy colonial interests Of Gre, 70 hs
no" can space and the extent OF c,,, nitaln.
one nation De so valuable and mt s1tuntryfn
matler OF usefulness in the otas,, " sso 4
every law Of currency fixes thI. |, NOV,
tilted to BY all writers, that an s,. iac tes.
population can and does nse as,tuRarl
notes than either manufacturirs &c 'snk.
mercial people. If this be 90 ws ". VI con.
suited to use bank.notey, and ou,h. ore oef;7
larger circulation for our MAJ. have
population than any European n,tin w aad
YET the facts are that upon capit,Is and
tional banks Of 1890, 900 We eni.n 10 na-
these banks at twelve per cent. siscoyyIli nom
ofthe day, only S340, 900, 900 of c;rcn,s,;aas' @
S4O0, 000,00O (ab0uD Of legal.tandao.uald
told, say, SI50, 200, 000-whilst the h,s,al
England, France, Belgium, and The Na,s Of
lands, at par, have upon capital, Of 'S s,ae
100000 S90,000,G00 of circulation ~
circulation IS worldwide in its ,,s.f,i taer
and obtainable at to 6 per cent, in,n.Es,
ours is local, and worth from G to 8 nssi
per annum. But more: In the monsr sa.
Gle Of the New York Herald of 9a,h E.t t'u'
ary you will find that we have in the Iln;,0i
States S14.33 per head Of money of ali Si"S' a
Germany, Sl7.S7; France, SH.9l: Cras,
Britain, $21.M-ours constantly flue,n,,;ns
and theirs always steady, as comnareS .s
coin. Now, as I have no more ipteres, "
the eXchequer and sound currency ,h,a
you have, ask candid and imrarii,I ax
animation Of the bill for an eycneouer ana
feel quite sure that as intelligent new.
paper as the Dispatch cannot fail TO see tha,
some such measure is absolutely necessary.
and certainly if there be any subject q,
which the people of Virginia have riyht,o
expect of the Legislature some action. j,
must be as to how they are to have
more capital obtainable at 6 per cen.
and under. This the exchequer viii
give them, and l don't think there can ~
under The present system any promise beId
out of any such results. The Eaqurer,s oh.
jections are first, that Colonel Pla,t WA
born in'Vermont, and secondly, that Iaauu.
known as financeir. What is before the
nation is ho,1 zoe can secure good dndchecv
nloney-not where any of Us were born or
what regulations we have. When such
things appear in a newspaper one is reminded
of really good sentence uttered by old
Judge William Daniel, who told Ar. Ca.
houn that In his debate with Henry Clay
defending himselfagainst Clay's launts abou.
Caihoun's course be should have said.
answer my arguments, and then l will dis.
cuss my course and reputation; and so say
to the Enquirer, yourself, and all others who
discuss and criticise the exchequer, and whea
that is passed will be ready 70 txke up ny
OWN reputation.
With good wishes, am, yours,
a..} d. Il. LONDON.
rye beg Mr.. London to correct bis own
as we now correct his communi-
cation. We have in no manner discussed
his OBSERVATION-DISCLOSURES Dispdtchl