The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-03-02
,rhe Money s.lt,. !, Of the Country.

kE Is. y i HlutlcI3pi uii0iioySoA v os.pASA tSs.S
that we have q currency and q basis for i
that are entirely satisfactory to the vast
reputation that dwelIs within the national
boundaries. Never was there before the
war val. q PAPER currency so entirely current
and undisputed in every section OF tue le,
Union as we have now. Based upon the
national credit, t commands the confidence
Or all the people; but in addition its foun-
dation is strengthened by the solid sup
port Of the bi-metallic specie basis. Miles
have gno effect upon the value OF the
currency. The highest stimulation to
national energies aud industries that it Is
safe to give them is thus impaired. While
there Is the largest freedom and support to
the. enterprises Of the people, the solidity
and unimpeachable soivency OF the media
Of commerce gives assurance OF protection
from reyHlsion and panics that will nain-
tain.a degree OF: steadiness and healthiness
in business and the pursuits Of life unknown
at any former period in the history OF the
American Union. ,Iesy< ~. 81; sf,p
: The reconciliation Of silver completes
the American money system. Indeed, Con-
gress may add some further accommodation
to the people III The way OF nterconyeFtl-
BILE public securities, and public deposito-
ries, and SO on; but the condition OF the
system now is beautiful. Silver is restored
to its old standing as the coin Of the people
as we'll as powerful auxiliary Of gold in
supporting the paper currency. In remone-
tizing this venerable and benefcent coin
CONGRESS has bestowed a great blessing upon
thepeople in providing for the issue OF coin
certificates upon deposits OF specie in the
Federal safes. These certificates will dis
pense with the transportation Of heavy boz
dies Of metal, and beautifully facilitate the
operations Of commerce.
Our country thus has system Of finance
q little more complete, we. think. than that
OF any other nation in the world. A little
while is necessary to reduce to entire order
that part of the system which has some
what Of newness about it. The tracks will
have to be worn little to remove the rough
ness OF the beginning. The speculative
tricks that always grow out Of any money
matters that are new will have to be ex-
plotted. The consequent bulling and bear
ing OF the gamblers will have to be ex-
hausted. After all this we can see what is
what, lust MS is the case when a morning
fog has been waited away by the winds.
Then we can tell what silver and gold are
relatively. They will beable to take good
look at-each other and exchange renewed
assurances OF their respectful consideration
for one another. gr
. And then we shall all be at rest, so far as
the currencyris concerned. 1t is happy
thing for land 10 have such currency and
such money: Those who remember the
panics Of the past, the troubles caused by
failing banks, by deprecated and multifa-
rious bank notes, and their effect upon the
industry and enterprise OF the country, can
enjoy with delight what we now have. We
may indeed now trust to the prospect, and
know that at least our prosperity and con-
tent will not be married bya spurious cur
rency and pernicious banking system.