The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-11-19
irI,ll,una
s, ri, / NOVEMBER 10, 1878
J. -,,,,, Tsi-.Metaliic Basis.

s,as,,rart ion--The Bi-Metaliic Basis. q
m over there was question Thoroughly &c
discussed, that question was inc reraohe.l'
,ation of silver. II ever there was g cues.
t;nn decided by the law.maksng power. OF
{ .he ,,a,,on aud by tho people OF the United
sta,es. that question was the remonetiz ia.
tion OF silver. The Judgment OF the ma
I tiona, legislature and Of the people was
clear aud powerful. It is therefore very
TILE. not to say unwise, for financial BODIES
of men to Initiate ideas that look to the DIS
.urbance OF The national Judgment WIN any
view TO a change Of the basis OF the paper
currency of the land.
That Judgment, after thorough aisc''s-
sion. was wise and beneiccnt to the couh'
,rv II w,dcaed the basis OF the paper CIR
c,,,a,ion. and therefore permitted larger
amount OF currency-so!vent CURRENCY re-
s,eemsb;c in coin-.for the wants OF COM
merce and the accommodation Of the people,
This we consider indisputably great bless
ing, The two precious metals, produced in
the nrocess OF creation in certain relative
quantities. and wonderfully distributed I'D
those quantities in parts OF the globe Where
found, are admirably adapted to the purpose
Of representatives of value in the commerce
OF the world. Both metals completely SUD-
serve the PURPOSES to which civilized man
has app,ied them. In these matters they are
b,ess1nrs-auxiliary and harmonious with
one another-and the rejection of either by
communities or nations would be only the
rejection OF an unquestionable blessing.
The decision OF the people Of the United
States in favor Of employing both as repre-
sentatiyes OF value and rs bases OF Pape'-
money was wise because both are stronger
and broader than either by itself would be,
and therefore promotive OF national activity
and prosperity in proportion to the greater
power Of the two. ;,
The Accommodation OF silver was BAD
thing, and badly was it done. Its remone-
tization was good thing, and vast gaod Is
70 flow from it. We think that it IS not
possible for that good work to be undone'
NOR do we believe that the ill-tempered finan-
ciers who lose no opportunity to assi1l 1t
are of a different opinion. There may be
some chance for speculation by spasmodic
scuffles about it-that the cups and
downs" OF the metals may serve turn Tor
the "gamblers." But nothing more.
We are going to have the bi-metal!ic
basis. That's certain. II will be necessary
to pass law fixing the relative value OF
silver and gold, so that there will cease TO
be complaint on the subject. The silver
dollar must be made equal to the gold dol
lar, and uice rersa.
That done, and we shall have peace. II
will be long years before there will likely
be any disturbance OF that relative value OF
the metals which will be governed by
the amounts that are mined. We re-
peat, that the distribution OF the two by
the creative hand has appeared to be so
uniform that we are almost impeled 10 the
conclusion that they were intended for the
very purposes to which civilization has APP
piled them.
Gold is the aristocrat OF the precious
metals: silver the inferior, or pleblan. The
inferior is indispensable to the society OF the
superior. Either is disconsolate without
the other. United they are happy, and
strengthened by their union the power and
prosperity OF society becomes reinforced
and facilitated.
Congress will do away with inequalities
OF relative values that are patent and unsat- !
isfactory. This should have been done at
the last Congress, and would have been had
there been time and the information needed |
in the premises. This was plainly the case,
as Congress appointed commission of CON-
petent men to confer with representatives of
other nations to ascertain the relative value
OF the metals to one another.
Our commissioners will report. They
will no doubt present the needed data,
whether there is q prospect OF concur.
renee with other nations or not. Upon that
Congress will more than probably act, and /
whether other nations agree with us or not, |
we believe it will be the opinion and deter
mination Of the American people to have
a bi.metalic currency as basis for the ma
tional paper-money, and to fix its value.
In this matter we are satisfied that the in
dependent spirit Of the nation will be main
tanned. We would not advocate any i'll
tempered display OF captiousness and i'm
practicability, but We are clear for the MAIN
tenance Of proper degree af seli-respect
by refusing to submit to any dictation by
any nation.
Silver is remonetized. It will never be
demonetiZed. 1t is the money Of the peo-
cle. Il is the money OF creation It is en-
during and benefcent.
That it will assist greatly in resumption
and that it will further assist powerfully in
the permanent maintenance CT specie.pay-
ments, no man ought to doubt for amoment.
Railroad Economy.
The influences and tendencies OF rail- |