The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-12-29
!rltllsosd <llsllatfll.
wEpNEspAY. DECEMBER 20, 1876.
I" Honest Money"

=
We hope that the present Congress will see
that they have it. What we think ougktto
be done to give us honest money" is to
compel the Government to receive its own
paper Ia the payment Of all debts Of every
kind that may be due 10 It. The paper
money that the Government issues and re.
fuses to take is 81 dishonest money" 1t is
an abomiuation, disgraccful to the Govern
rnent, and it has caused s great deal OF IN
Jury to the nation. The people ought to
demand the abatement Of the present re-
ssriction upon this money as political and
financial nuisance.
When the Government makes Its own pa
per receivable for all dues to it, it stamps
that paper with its faith and gives it all the
credit the Government can give it.
at present the importers are compelled
to pay the duties on their importa.
tons in gold. They are driven out
amongst the gold.samblers to buy gold
Il. the highest rate which those gamblers
can possibly maintain, while the Coy
.erpment has in its vaults about one hun.
dred million dollars in gold. This is great
wrong and cruelty practised upon one class
OF debtors. The Government has no right
toput one class of her debtors under the ban
in this manner. Their pursuits are recog.
.nizsd By The laws of the Government as
honest. and the Government has no moral
right to place exceptional and onerous bur-
thens upon them.
Therefore the Government owes 1t to
its own honor to recognize its own paper
and never 10 repudiate it under any clrcum-
stances. And. furthermore, the Government
owes it as solemn duty to its OWE citizens
not 20 single out any class to be burtheneG
with eXactions not visited upon Others. The
discrimination is wrong, and hostile TO re-
publicgnism, whose main principle is that
her laws shall be impartial and impose no
partial burlhens upon any class.
The cry against d measure restoring legal
tenders to their proper place will be that du-
ties ON imports have been set apart to pay
the gold interest on the public debt; but we
have shown that the Government has no
right for any purpose to impose peculiar
burtheus upon any class Of citizens. But II
this were right, it is neither necessary nor
polite. II is only necessary for the Govern
mont to buy gold just as the importers are
forced to do. That duty belongs to the
Government nor would the buying of gold
cost the Government as heavily as 1t does
the importers.
The payment of interest on the public
DO nds in gold has kept those bonds at pre-
MUM above gold; and while the Govern
ment has bond that is worth more than
gold there never can be any difficulty or
sacrifice in buying gold for Government ac'
count.
The greenbacks, being payable for all
dues to the Government, would rise in value
to an equality with gold, especially as by re.
lieyiug importers from the necessity of buy
ins gold for paying duties gold.gambling
would be at an end, and bulling gold "
would be useless, and therefore an abandon
ed strategy.
The grand effect Of this measure would be
that grcenbacks would be elevated in value
compared with gold, and national-bank cur
rency would be lifted up with il; paper
would be "levelled up' with gold and
thus great calamity that would be caused
By forced resumption hriukege Of money
and general values-Would be eyaded. A
level would be attained in an easy ana
honorable way, and, that attained, with it
viii come restored confidence, financial peace
and rest.
Suppose gold were not wanted for i'm
porters now, what would it be wanted for !?
The answer is: The Government is to
pay balances against us in foreign trade. The
Government, with its grand credit, Can buy
gold without a sacrifice; and under system
of forced economy the balances against US in
foreign trade are not likely to be heavy. So
that there is not likely to be any great de-
mand for gold and the paper money of the
country being the best we ever had, and
being, with the possible difference in eX-
chspge, of equal value with gold, there will
be no desire 10 draw gold. There will not
be demand enough to justify gathering up
of gold.
There can be no other way equal to this
plan Of opening the road to resumption. No
o.her way can bring it about so easily with
so little oppression and with such slight loss
from sbrinkage.
i II the resumption law could at the same
time be repealed the country would be at
once reassured and confidence would come
home, drive out distrust, and remove all her
train of evils. which never cease to distress
every community where she and her twin
sister and anxiety exist.