The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-10-28

Ar. E.varts's Speech.


,sr. E.varts's speech.
fr. EyAaTs made a " great speech y y
New York, an ghurstiu I. Il g s
aeeaeh to i great asience, says inc 4 g. =.
na,,,s This. II course. Mr. fEvARTs resides
n, :asaw 5ynrk city, and Is Of consequence q
+ ~ orest man. The New York papers thought
s, an outrage that some New York lawyer.
I ssas not appointed Chief Justice OF the SUI
i pre;,,c Court OF the United States instead OF
Mr. WAITE, who was merely an Ohio man,
and therefore unknown to the distinguished
gohemians Of the "metrdpo litan " press
tue same considerate gentlemen who regard
it as a finc Joke and an evidence Oh incor-
rigiblc provincialism for anybody to be
,lnacqusinted with such New York
.sstatesmen,' as WT.LIAR NJ. TWEED,
JoaS MoRRIssEY and JoHS KELLY. How
ever, the public outside OF the g metropolis !"
seem to have come to the conclusion that Mr.
WAITE is better qualified to fill the place Of
JOIN MARSHALL than Mr.. EyARTs. They
do not concern themselves with the Hnfa-
miliarlty OF the New York press with the
merits OF the learned Ohioan. Perhaps
they don't know everything "down iu Ju-
dee.0 Perhaps, too, Dir. ROGER A. PRYOR
was right when he said few years ago fhat
the New York bar was not equal to the
Virginia bar in learning, ability, and thor
oushness Of acquaintance with the science
OF The law. But all this has nothing TO do
with our subject. s.9. a1
Il. Mr.. EvARTs's speech, then, was a good
speech in some respects; but there was
nothing " great in it. On. the currency
question, he advanced not a single new idea.
he illuminated his subject By not one new
illustration. He repeated the old, good, and
unanswerable arguments which have, been
used for hundreds Of years-perhaps for
thousands of years-wheneVer a paper
money craze has seized upon the masses;
but he did not make as fine speech as his
/, wide reputation had led us to expect from
him. AS to the other subjects which he
touched we will say nothing just here.
We will give an extract or two from what
Z Mr.. EvARTs said on the money question.
They are worth reading, OF course, though
not particularly new or forclble. We
quote:
!" THE QUESTION OF FIAT MONEY.
Well. it is very difficult to treat wisely
this question OF fiat money. do not know
who believes in tat money. What Is fiat
money? can understand the miraculous tat
that can turn what is yalueless into value,
: hut it must change its substance. Fiat mo-
ney, of course, involves the necessity, rs
bat n
specie being the money, everything Is done
on a specie basis; so, when fiat money is
the money, everything is to be done on the
fat basis. [Applause:]
You must make thorough revolution in
the country. You may remember that in
the Arabian Nights story is told by the
barber VI one of his brothers, who being
an honest butcher and selling meat, was
waited upon every morning by an old man
with long beard, who purchased just six
pounds Of beef or mutton. and gave him
beautiful, bright, Wetl:coiped money, SO
much more fiattering in its aspect than or
binary money which he took that he kept it
by itself; and after FIVE months Of this pros
porous customers dealing, ne thought he
would go to his box. rs he needed to buy
some sheep for the shamDle, to pay for them
with this money; he opened his box and
found IL was all green leaves, clipped into
around shape. TLaughter.l Well, money
to sell mutton-cbops by needs to be money
to buy sheep with. Laughter and APP
plause.] Now, it is said by the story.teller
that that old man was magician, and that
be deceived the eyes OF the whole people,
Who is that old man now In this country?
Laughter and applause.] He has longI
beard tcontinued laughter1, but that is the
only circumstance Of identification. 49,, 4
= Well, some simple people in remote
Italian province once went to the Pope to
convey their homage, and the Holy Father,
pleased with this, said: !" My children, be-
fore you go to your homes, Is there anything !
that can do for YOU that would improve
lived by tilling as busbandmen-that there
was nothing that they would like much or
that would be OF great advantage to them,
except this that the Holy Father would di-
rect that they should have two crops in the
year. [Laughter.l 1t was willingly granted
by the Supreme Pontjff, and as they were
taking their leave he said: "My good chill
dren, will do even more for you than You
have asked. Not only Shall You have two
>crobsin the, YEAR, but, Your yearsshall be
twiceas. long as it is now" (Great. laugh !
teri Doubtless they thought that $. length 4
Of days was in their right hand, and in their
left hand riches and honor" daughter !
And so it must be whenever a magician
or pope gives us fiat money; hemust give
us fat trade, fat food. and fiat arrange
ments all through. Laughter and-ap-
piause.l But we come much nearer to this
business OF fat money, it seems to me, in
the proceeding, which dare say we all re-
member in our childhood, OF the children
in the nursery petitioning their mother to
be allowed to play grocery store flaughterl,
and there they had nothing but fiat money.
[Laughter.l They drew upon their mother
for the sugar [laughterl, and the plums, and
the raisins, and the almonds, and the
oranges, aud made great array OF groce-
res. And then each customer among the
infant band made their money in shape and
in denomination and value to suit them
selves. ILanShter.l And that is exactly
what the fat money is to be. We are all to
be children, and have our pockets full OF fiat
money, which is based upon all the property
of1he United States, just as these chidren's
stock Of groceries was based upon the illim-
liable wealth of mamma. But even. this
playing at fiat money, although it never
produced financial distress or Teverses to
the infant band, had some Ill consequences.
When you buy groceries with fiat money,