The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1876-03-02
Give us Light.

ardent advocate for light-fo: lighting the
city Ut was then 10 darkness). The City
Council had smart infusion Of sold fogy.
ISM" and was slow and spathetic on the
subject. Finally the Council, deeming that
it was best to shut up the cry for light
directed that the people should vote upon
the question, "Light or no light" The
people, to their surprise, voted for light.
Like the unjust servant who thought that
the throw which gave the odd shilling 10 MS
master @wasn't fair" they submitted the
question, we believe, second time, ana
again the decision was the same. Then they
invited that excellent gentleman and scientist
the late Professor WELLINGTON to come from
William and Mary College and lecture "the
citizens" on gas-light. The fact was the
Council needed the lecture more than the
ppople, and so all said.
We are reminded Of this Renaissance by
the movement OF Mr. Cox, Of New York, in
the House of Representatives to bring to.
gether body OF political economists espe
cially learned on finance to tell us about our.
of them. This is a repetition Of the device
of the Richmond City Council. The light
to be shed by the scientists is not needed.
Il my be wanted by congressman to throw
dust into the eyes of the people but they
know what they want without the help OF
the scientists, and it Is the duty Of Congress
to give i. TO them without more idle prelim.
ira-ies.
What can the scientists do!
an rhetoricIan's rules
Teach him but how 10 name his tools.
The practical operations of the means and
the machinery Of finance sre as little UNDER
stood by the sedentary economists as are the
rocks which the house-imprisoned geoleglst
reads Of but has never seen. Nine out of
ten of your BcNABY PRICES would wind up
a bank they were put to manage in few
moths.
This mysterious question Of finance is the
pons aSsinoruna OF society. All have
more or less studied it, and who has
found the true solution Of it? Will
ANYBODY ever find it: 10 our opinion the
matter of nuance is one of those things which
belong to the unascertainsble. 1t may not
be impous to draw the comparison, aud for
sake Of argument we make it. 1t is like
seeking the way to heaven. The wsrld is
not agreed about it, and probably never will
be. Yet it may be assumed that there il
something like unity in the main points. Is
shis not also true with regard to finance?
We assume that no matter what system Of
finance and banking may prevail in coun
try, that system depends upon the mora
condition of the public character for its sue
cess or failure. If we may suppose people
strictly honest--nll dealing fairly, none in
curing obligations they cannot meet-no
body over-trading, nobody cheating
why, the banking system among that
people would be good, ana specie-pay,
nents would be maintained. But change
the picture. Suppose there is great
deal of dishonesty and corruption
amongst the people-a great deal Of over
trading, and cheating, and obtaining money
under false pretences. Such a people mus
bring upon themselves rctribution fol-
their crimes. And can any sort of banks
stand such retribution as such Irregularities
and vices in business, and trade, and daily
life, bring upon country in which they ar,
established 1t is impossible. Suspension
of specie.payments, wholesale failures
shrinkage of property, ruin of whole
communities follow and what are the pc
lilcal economists-your BoNABY PRICES
going to do about it? Exactly. As we'll op
pose a feather to a western tidal-waye a
"talk financeo in the hope Of staying .
sweeping retribution like this.
For ourselves we prefer to take refuge ir
the wise financial ethics of Mr.. BAdHHor
who comes forward and tells how suffer.
ing community may be succored and saved
4 in the most desperate conditions of public
financial transgressions.
We speak these opinions after many year
OF close observations Of the vicissitudes O
banking and finance. We believe they art
strictly correct.
The great point for a people is to get {
paper currency-no civilized nation car
do without one--that is well secured. That
failure Of the nation itself, and then we sup.
pose we shall be less troubled about the
saving Of the paper than almost anything
else. But we say we have q well.secured
paper currency, and that is what the world
has sought for ages.
The paper being secured we should breathe
freely. The next thing to be secured is the
deposits. Can they be secured? We can't
see how they can. The Government may
afford in the post.otice repositories and
otherwise safe places for money gained; but,
then, they to great degree put obstruc-
tions in the way Of the active employment
of money, AID ne suppose that expedient
can hardly ever become widely popular.
But let us remember that the customs that
prevail with regard to deposits are governed
by convenience and mpensation-com.
pensation for the use Of money, and con.
venieuce for applying it actively upon the
occurrence of opportunities.
Regarded in the light Of commerce and the
wants of society 1t is not likely that deposits
will ever find the sequestered place Of safety.
Men who adventure at all in business must
incur danger, and therefore the gains Of CIV
ilized pursuits cannot possibly be separated
from hazard.
So, after all, there is this moral aspect Of
= nation IN enter into tho uhala ouaceiop NJ