The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-10-21


6itner as or f.ears Illf y. y
s NOW, ii Is plasn tsas dir. souE was
opposed 10 going even aaall q lar as l the
Goyernment has airsad zone in 8lle riatter
Of papormoney. e desired sst VI se at par par
wish gold and silver. and desired no one. 20
be forced 10 take L. dc was opposed 70
making paper.money 9 legal tender 70 any
amount.
The assessed value oil the property IN
virginia is iii round numbers aSa0, 600, 600.
AT thirty to one Virginia would be entitled
to about len millions Of paper money
There are now near seven hundred millions
OF such money ID the country. II Virginia
has her fair proportion OF It according to
population. she has already one-thirtieth OF
that large sum, or over twenty millions OF
Icurrency--shat IL, twice as much as Mr..
.CALHouN's estimate would give her. BE It
observed, too, that II she has not her pro-
portion now when she has banks of her
own, she would. not have it though the.
Government were to issue two thousand
millions OF currency. For 2Greenbacker
to confess that Virginia has not now
even one-sixtieth OF the currency OF the
country when she is entitled by population
to one-thirtieth is to confess that she cannot
be benefited but only Injured by flooding
the country with currency which would
bny much less than the present currency
does; for IL she cannot get her share OF SIX
or seven hundred millions, she could not
get her share OF two thousand millions.
This argument does not apply to tue 1rlends
OF the State-bank system. They would make
a local currency. But the Greenbacker is
opposed to State banks. His platform de-
mands that the Government shall issue oil
the currency Of the country. lie declares
that we have not one two-huDdredth part
of the currency now out, though we are en-
|titlod to one-thirieth OF 1t, thus confesslnS
that we must have something to buy money
with before we can get it. According to
wealth, Virginia is entitled to about one
fiftieth Of the currency Of the country, or
twelve to fourteen millions OF dollars. It's
for those who clamor for the Government
to issue currency to explain why Virginia
has not iii she has not) her proportion OF
what is already out.
It will be seen. too, that Mr.. CALHOUN
calls the issuing OF paper-money in the hope
that it will increase the real value OF pro-
perty "a delusion," and explains clearly
that any seeming increase would be only a
nominal increase. You cannot cheat your
neighbors with bogus money. They Will
find out as soon as you do its Worthlcssness,
and will be as quick as you to demand high
prices; or perhaps whilst you are working
in your shop or on your farm the money
sharks will double the price (not value) OF
their goods, and leave your wages and your
products where they are.
Dir. CALHOUN constantly keeps gold and
silver in his mind as the standard OF value.
he wanted no small notes-none under $40,
we Judge. He wanted it left "perfectiy
optional" with all to receive either paper or
coin, as they might prefer, from the Gov
eminent.
Mr.. CALHOUN says that il the Government
were to attempt to put out greenbacks to
the amount OF its debts, san explosion IN
the currency aooutd be inevitable" Now,
this is Just what the greenback iunatlcs
propose. They would have the national
debt paid of in greenbacks. Mr. CALHOUN
thus forty years ago foresaw and denounced
their foolish schemes. Is it not passing
strange that anybody except BEAST BUTLER
should have the effrontery to claim Mr..
CALHOUN as an advocate Of all irredeemable
paner-currency?
Finally, it is conclusively shown that
Senators HILL and MATTHEWS were right
in saying that Dir. ~CALHoUS never any
where nor at any time proposed 10 make
paper-money alegal tender for debts OF any
sort, and never wanted any currency Issued
by the Government which was not con-
vertible on demand into gold and silver.
To give the Government creditors the right
to have either paper-money or coin would
be to make the greenbacks convertible into
coin on demand.
OF course persons who are familiar with
Mr., CALHoUN's views know already all that
we have herein stated as to what they were.
Nevertheless, the assertion by reputable
men that he was in favor of an irredeema-
blel paper-currency renders it necessary to
set forth his real opinions, that the unin-
formed may not be misled.