The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-07-26
ro,,+s from Hard Money"

failures in the first SIX months Oh lne pre-
sem, wear. The Tribune is the hardest OF the
hard.moncvites. 1t not only regulates
GREELEY's intercouveriibility scheme, but IL
self seems beyond conversion from the wor-
ship of u false god.
We take il that if the theory OF the So
called inf,atonists has proved failure, per
CONSEQUENCE that OF the Tribune and ia co.
laborers should have triumpned. The "'
fation has not taken place-tne co""''' -"
not been "deuscd" with r"per-'u' w 'oe
contrary there has been great cu''a''uieu'
n ,anar ,noney. Many banks have WITH
,raun bonds and returned currency TO the
Government and all banks have more mo-
new than they can lend. This is exactly IN
the line of the theory Of the hards. Con-
trac,ion-contraction And the Tribune,
forgetting how it exposes itself, trumphs
over the defeated "ipfitionists i" because OF
he ,ffl c,ions Of the Countrywide pressure
and the 3,3717 isilurcs-whch have resulted
from the exact condition Of things which the
"hard.money" men urged as best for the
country!
There has been, indeed, curtalment-se-
we're aud oppressive. The curtailmcnt hss
come from the bad policy Of the Govern
1nent. When it passed the law which au'
thorlzed qualified increase of national cur
rcncy upon the basis of Rational bonds, the
Government passed Il law requiring the re-
sumption of specie payments. That Ia" was
, lf
!.ed increase Of currency authorized by Inc
currency law. The result has been that no.
:,,dy has dared 10 venture ON any enter
prise. All descriptions Of undertakings
have been avoided aud even large part Oh
the manufacturing industry OF the la"d ha'
Been Discontinued. Thousands OF laboreTs,
- well rs millions Of capital, arc lnlc, ana
zoe country seems 10 bold It's breath as II
spout IA CARLYLE says 10 90 shoot Niagara"
L. il the bard-money" mans way to
get ready for Resumption" lit he happy
and bcuf li.lal, let the Tribune and the
hard-" make the most of ii. lis taunts OF
The 80 called lrilllionSts gre impcrtineut
The Government or the wild aud dCstruc'
live Radical p,rty-took measures TO detea
entirely any act which might promise rei'e
to the country by relaxing the fearful spaslL
that wa upon il ; and the hard-money peo
pie are triumphant. Result: General pres
sure and 3 ST. failures in six mouths more
than tnr aggr egate for Il like time Il, any pre-.
y!ouS period in our history, according to thu
Tribune. Bravo the lizards.
The present state Of finarce Is anomalous
aud cannot be accounted for on ordinary
p:inciplcS and rules. The general drgrada
lion OF private and public credit Is such that
there has been consequent caution among
moncy.lcndcls US well as Il rate Of interest
without precedent in this country when Wt
consider the duration of the pressure. We
see, Isl, that thousands are warned against
entering upon enterprises that would in
healthy condition Of finance and credit be
readily undertaken; Cd, that capitalists
are rigid in sCrulinZuS securities, and will
not lend ut all where they are doubtful.
Effects: Money in excess and get interest
risen TO points greatly injurious to borrow
crs. Could th.rc be worse condition OF
things for the country! We see here gene
ri misfortune and dstru,t. And get with
oat panic. Perhaps that is all the worse.
The country has become familiar with its
PROSTATE ordItiou. And at such time the
moucy-klrg comes in and requires " conr4c
tion," aud the court ply sican wants blood
letting rs tue best treatment of the patient
in typhoid swoon.
Here is Il clSc not before known in The
books and reports Of the financial doctors.
II results from an unprecedented cause, and
the country must know the fact from the
,unst fearful experience. II is the result 0.
tHc great social earthquake in this land.
which WAS brought about 10y ambition, ia
narir>n. and mallgnity. Those who had the
,,owrr rave ruined themselves in running
:Er.c whom they hated.
The disasters which have fallen upon the
nation in this way can only be repaired by
pu ting ;he country under the control OF
homes. men with judgments unbiased by
bad passions. Public measures must be
calm and wise, looking only to the public
good. Government was instituted for the
good Of all, not for the eurichiug and tattcn-
insa lew 10 the oppression of many. Thegrea'
social revolution can never be wholly repeal:
ed, bul its effects may be remedied in great
degree by gcntleness, charity, equality, ard
patience. But the worst adviser in the eX.
;renty is your hard-money grad-grnd.
Let the Government be liberal, aud cut loo>.
from the rigors of uncompromslng finance.
Let it cherish confidence, and do nothing Ia
spread apprehension that will destroy enlci.
prise, hurt industry, and fill the land with
discomfort.
The revival Of hopes, the encouragement
Of Industry, the restoration of confidence
the cultivation of harmony, are things fll
more important than the resumption OF
specie payments. To the mammonte that is
the way 10 national salvation. 10 him it i,
what the death Of the deysor is to the
deyisee. But the country is not to die fol
the good of the moncy-holder. It must re
cover q little more from the disease which
prostrates it before it undertakes that labor
of resumption which would be now impo>.
sihle. Yet it is Il matter which at the proper
time may come about without labor to the
Government and without Inconvenience to
the people.
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WATER Hot weather makes decided
Impression upon the supply of water by iu-
creasing the consumption. At the present