The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1876-02-16
"The Peoples Money"

Mr. HALE, OF Maine. ;n1anttests Mucn coH'
| Germ about the apeople's money" On Mon-
| day be moved 10 the House OF Representa-
tives resolution With hypocritical prearrrn.
bic, in which 1t was declared that " the United
estates Treasury bad thus far failed to re-
"deem It's notes, thereby depreciating the
"value of che peoples money y; therefore,
of course, resolved, }" that prompt measures,
&C., be taken for resumption. This is the
statement, and this the only expedient known
| to Goldfish statesmapship. One would have
thought that its means Of resumption were
| In the bottom of the sea; but men appre.
cia!e most that which is foreign to their pur'
suit. The scales fall from HALE's eyes, and
| they only see gold.
TIE Treasury deprecia!es the value OF the
peoples money By not redeeming green
backs. IC they were redeemed they would
be annihilated aud have no value at oil. Mr.
HALE makes mistake. The greenbacks are
DEPRECATED because the Government won't
take them for debts due to it. That is why
they are deprecated. The rejection OF those
notes .dsmns them. HALE's preamble should
read that "tbc Government having discred-
"itcd its own notes by refusing to receive
| "them for debts due it." &c. 1t is true the
sequel would rot sui. TO follow this declara-
ton, but there would be thus much of truth
In it, which would be better than an absurd
declaration seriously offered to an inteii-
gent and rejecting body of men that the
peoples money was lowered in value be-
cause the Government did not redeem it.
The peoples money is prejudced because
their representatives stigmatize it By pro.
hibi.ing the Government from receiving It,.
Furthermore, they have been so unWlse as
to put fictitious value on gold By forcing
importers to pay taer duties in gold, and
driving them out amongst the gold .gamblers
TO buy it at whatever price the cormorant
spectators msy put upon it, whilst the Gov.
crmeut is absolutely boarding gold. The
price of gold, therefore, Is no indicator OF
the depreciation of greenbacks, but only the
amount of profit the gamblers can force out
of the hapess community which the Gov
ernment, like the cruel Roman consul, has
pitched into the arena amongst the beasts.
"Pcople's money" indeed, deprecated!
1t is the vicious legislation of the vicious
ard corrupt public men who have been sent
to make laws for the people that has dis.
bonored the public credit and harassed the
people. That very money called the "peo.
pies money" is the best anu most certainly
solvent this nation ever had. The whole
national property and all the gold 10 the land
are bound for 1t. 1t is the discredtable de.
vices CT the sGlryy politicians that have put
the deceptive appearance of depreciation
upon it, When indeed there is none.
This is too plain to admit of a delusion such
as that the co6fish representative desires to
fasten upon the people. Let Congress make
the greenbacks receivable for all public dues,
aud the appearance Of depreciation will dis.
appear. Do this, and repeal the resumption
law, and resumption will como as smoothly
and as easily as q boat floats into lock that
is fill d TO a level Of the water in which it
lies. This would be the beauty Of this re-
supption. The gold value would be !evelled
up 10 tn2t of the "pcoplt's money" not that
reduced by shrinEage, and inestimable public
loss to {: level with gold.
Take away The public apprehension which
is now producing the most fearful econ
traction" and business will revive along
With confidence, and both commerce and
enterprise receive renewed energy and hope.
Un:.er this healthy and vigorous condition
of public feeling resumption will be natural
and firmly sustained; but we cannot see any
encouragement to bslieyc that the present
coursa OF things is bringing the country any
nearer TO proper condition for resumption.
Indeed, it would seem that we are drifting
farther away from that condition. And the
craftsmanship Of Maine will only facilitate
our "drifting."