The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-08-13
The Grccnback MnnfH.-.Whnt Is It,
and what OF ii? Ss


We are itist as much OF d /" greenback q
man rs any other man OF common sense.
We would as soon have one or i've dollars
Of preenbacks in our pocket or ae our dfs-
nosal as to have SO many doilars IN goid OF
Silver Provided. that they are OF equal
value and OF the same purchasing or pay
ing power. Nobody but q fool would pre-
fer them on any other basis or principle
a,Iy more than he would prefer TO take
ninety cents for dollar, or any other lesser
sum for a greater. In Fact, silver dollars in
large sums are really at discount at the
United States Treasury.
IA Washington dispatch states thar With
every facility afforded the people to take the
standard dollars the Treasury Is unable 20
put in circulation one fourth OF the NUMBER
coined each month. Fully four-fftbs OF
those paid out are returned to the treasury
ia payment Of customs duties.
Greenbacks, therefore, when at equal
value with the standard Of gold and silver,
are preferred by the people, especially In
large amounts, because they are more con"
yenient and portable. In other words, man
3,sf, rather carry hundred or two dollars
of oreenbacks in his pocket-book than tnat
much OF heavy silver or gold. 10 TINS eA-
IRENE aud upon this sound principle we are
a g greenbacker," and the more greenDacks
that can be circulated among the people the
better for the people so long as they are
good. Everybody is in favor OF such green
backs as these.
Bnt the visionary and revolutionary idea
now advanced by what is called the SCREEN
back purtv'' Is not as to the U1lue OF green
back dollars, but as to their quantity! Iney
want the Federal Goyernment-Ireasur
.John Sherman--to put all the printing
presses OF the country actively at WORK, anu
to print of more "greenbacks by tne
million and the trillion, and then they want
Treasurer Sherman to distribute them
among the people dd tibitua, without re-
gard TO race, color, or previous condition,
and thus to- give each man, woman, and
child about sixty dollars into his pocket
without any viSible compensation OF value
received!
Now, how is such wildcat and reYolu-
tionary scheme OF irresponsible national
finance as this to prevail, or prove anything
but curse to anybody or section?
Let us make home and individual case
OF it that will apply to every community IN
the world:
Suppose merchant or businessman in
Petersburg is honestly worth $4,000 in
available assets. His credit is perfectly good
so long rs he conducts his business within
that reasonable limit. HIS notes aoid pass
current. But suppose, presently, it is dis.
covered that by his wild chase and bad
Judgment, his checks, and negotlaDle notes,
and endorsements and bad debts, ne has
fallen in debt to the amount OF some fifty
or one hundred thousand dollars, what then
is his credit worth? and what the value Of
his notes? Only ten or tacenty.tiUe cents in
the dollar!
Governments stand upon the same prln-
ciple OF business, honor, and credit that in
diYiduals do, and they can no more violate
them than individuals can without the same
disastrous results.
Let the Federal Government tomorrow
print and issue $500, 100000 more OF green
backs and distribute them broadcast among
the people, and those who now have one
good dollar in their pocket wouldn't be
worth fifty cents, though they might have
a two-dolIar greenback left!-Peters6arg
Post.