The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1876-01-11
guIllllol,d ispatfll
TUESDAY -. JANUARY Il, 1876,
1ne Financsa. Bother.


The Financial Bother.
The politicians never we're more perplezed
about the financial condition. of the country
than at present. There Is something about
il altogether new, and the conclusion Is fast
gaining ground that there Is at last some.
thing new under the sun. The whole nae
tioa viii find this out. So great social re-
yolution as has happened Ia this country
could not fall to producea financial disturb.
anco proporsioned to its magnitude. The
whole plan of industry, involving Its dssci.
pine in seed.time and harvest, and the i'm.
mensely importan. processes of the housing OF
crops, the marketing OF them, the custody
OF the gains Of labor, and the disbursement
or them for the sustensnco and support o.
master and laborer, were utterly revolution
tied. Che whole course OF trade that grew
up uader the old system wss disarranged.
Manufacturers were disconnected. The fab
rics which they bad formerly prepared for GER
tain demands were not wanted, apd the mills
thss once ran the year round, making money
.f,c their owners with certainty that kept
{ tSem always contested and prosperous, piled
up goods that were not needed, and many OF
which ceased to be used. Suspensions then
csme, together with failures, and idle opera
tiYes, and distress and embarrassment wide
spread. The gains from the formerly well
systematized southern labor were under the
new order scattered 10 new ways and squan.
dered after manner that increased general
poverty, discomfort, and distress. The pub
lie charities were put to new strain with
diminished means, and the public order and
peace diminished.
The great manufacturing and Commercial!
centres felt the terrible consequences OF this
new source OF national Instantaneous that
was never before known among the causes
that produced panies and pressures in this
land, and one that was more terrible IN It's
e fleets than all others that ever were knoWn
in the land put together.
What more is needed to account for The
trouble financial in this much.psrplexed
landf If any thing else be needed toaccount
for il, have we not the financial ruin Of hal!
the people in the nation, and the disasters
Of civil war, together with an enormous
public debt? That ought to satisfy the most
inquiring hunter OF causes for the worst OF
evils.
And now the national troubles thus pro-.
tiuced are treated By the Quack politicians as
were treated the pecuniary troubles OF other
: days, when the country was backed and
strengthened by the most reliable reinforcing
power OF the nation, which is now broken up.
The public energies are collapsed, the
public hopes depressed, and the public COR
1iacpce gone. /" Wake DUNCAN with your
knocking" Men say there is money enough.
What mstters that? "Water, water every
where, and not drop to drink" Money
cannot be borrowed in the great cities save
upon securities the commercial community
have not, 10 the nature of things, great
deal of; and yet that community is the
source of activity and prosperity to BUSH
ness and the main-stay of general thrift. And
in the mids: of all this disturbance, distrust,
and apprehension the financial quacks cry
out for forced presumption " as the sure
remedy for all our woes.
Yet not one of them can point to remedy
that will save the nation from suspension
any more than that light amongst "hard-
money" teachers Governor TILDEN. He
logically proved that " confidence" after all,
was the only support for specie-payments.
Disturb that, and spece-payments cannot be
,is:ained. And yet the whether.or-no re-
s.mptionists demand that we shall resume
IN the absence Of that confidence which Is
Indispensable to the existence of specie.psy-
ments. .
These doctors of finance contend that the
Government shall continue to demand the
payment Of the duties on imported goods in
gold, subjectirg the importer to vexatious
changes in the premium Of gold, and thus in
the value of his importations; and maintain
) Ing system OF gold-gamblipg which is ever
disturbing the relations of gold with paper
and aggravating the difficulties of resump-
ton.
Well the national troubles do not dimin.
ish under the mad policy Of the politicians,
who hold finance In allegiance. The proba-
bility is that the nation, seeing more clearly as
time goes On the necessity of change OF
policy, will bring about that forbearance and
patience which are indispensable to the resto.
ration of confidence without which specie.
payments cannot be maintained.
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Tho "Southern Paoificn