The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-08-20
ifh,l,alsd nisllalfh.
Z ,s,T.s,,a, At1GUsTS 20, 1873.
4 plan for en- edeamable currency
and Plenty OF 10. 81.

AZ o,,r readers know, We have carer : a l
oya,n,nef, the arguments Of the Green back
Il nrs and I. two.footd deep srrsdeemaole cur
sro,,c - mon. we think we have hit upon q
Man bY which the people OF Virginia may
en,ov nh the blessings Of such a financial
srran oement without waiting for dilatory
. congressional action. The argument is,
that money is oaly an idea; that It is only
! measure Of value, likesa yard-stick, OF q
quart-measure, or q pound-weight, when
measure Is ascertained and declared by the
Government to be the measure OF value, OF
length, or capacity, or weight, as the case
I NAV be. The Government declares that
such and such shalt be yard, or quart,
or pound, and therefore Government can
equally decide and declare what shall De .
dollar, Such a declaration OF Government
a its fat, and hence we have Jias money.
And as yard-stick may be made OF iron,
copper or wood, and quartpot OF silver,
gold, or tin, so may the measure Of cur
rency be as well made OF any material
the Government DEGREES shall be used
And it is equally clear that the Government
should select the very cheapest material that
can be found for that purpose-materia
that will cost least to purchase, and "ntcn
can be most cheaply printed and marked
with the signs which the Government In
tends to indicate its measure OF value. !,
is likewise insisted that these tokens and
measures OF value must only be receivable
and useful acifhtr o@r o,cn limits, SO that
nobody oatside ,oiA tognt them. il they are
considered desirable by foreigners they
NAV in time absorb them, and put US 70 TIE
trouble and expence of printing more Oh
them. The use OF gold and silver has on
this account proved excessively inconVe-
pient: for the bank Of England, it is said,
and other foreign Powers, seize and hold
inst as much OF these metals as they can.
and hence we cannot keep them. Hence 1t
is assumed to have been proved that the
Government shall issue measures Of value
for dollars which shall be irredeemable,
and which it is Justly believed nobody out
side or our borders will want, or, i'll fact,
will have.
The quantity OF these dollars to be issued
by Government has been variously estlma-:
ted. Some philosophers think that fifty
dollars per head to each man, woman, ana
child will be enough. 1t is clear that they
are in error, and that their financial vision
is obscured by their own embarrassment In
the payment Of their bead-tax. They think
that il they had one dollar to pay that, and
forty-nine to spend, it would be enough.
There are others, however, OF broader
views and wider prescience, who insist
. upon one shower OF greenbacks-a small
fresh OF currency, say about "two feet
Deep But this idea also is evidently erro-
neous, and is muddled up with agricultural
experiences as to the importance OF one
shower in tobaeco-planting season. One
shower never was enough for anything.
Every one knows that it only starts things,
and must be followed by copious. frequent,
and deluging rains. One shower, indeed
Two feet OF greenbacks, when we have seen
the noble James rise twenty-five feet.
What we want is enough-enough for
everybody, enough for everything. Do not
let lis be cut down to fifty-dollar allow
ance or to one-shower food.
The plan we have hit upon, therefore, is
for the next Legislature to pass law di-.
recting the Treasurer to issue forthwith
Virginia graybdcks in the similitude OF
bauk-notes, on which shall be clearly print
ed 1.-The Commonwealth Of Virginia de-
clares and enacts that this is one dollar"
There shall be sufficient quantity of them
printed to supply everybody. They will
cost the State nothing, for the paper and
printing can be paid for in the fiat money
itself, perhaps, and Mr.. HUNTER can go ON
indefinitely printing more graybacks to buy
more paper-buying more paper to print
more graybacks. So the printing establish
ment will be a perfect self-sustaining ma
chine.
This will not be any increase of the State
debt, for there will be no promise, nor idea,
nor hope Of any payment. 1t avoids the
great difficulty OF how to get the greenbacks
into circuIation; for the Virginia glayback
will be furnished without cost to all appli-
cants, and it will be unjust to the people to
require them to Ray interest on, OF to pay
blck, the currency which has cost the STATE
nothing. Thus weshall get a currency IRE
deemable and local, and will get enough.
We might pay off the State debt with it, too ;
butthat requires further consideration.
This plan must recommend itself to the
Grcenbackers, for it has all the virtues OF
theirs, and many others in addition. II To-
cal currency be IN advantage. the graybacks
will be superior to the greenbacks, for we
pledge them our word that they will not be
received by anybody one inch beyond Flr-
ginia. II irredeemability be necessary quail
itv, the grayback will be a laundering
sight more irredeemable than Confederate
shucks. If cheapness be desirable, Mr.
MONTAGUE, president of the paper-mill,
will make paper cheaper than it can be
bought anywhere. So in locality, ire
deemability, and cheapness, the Virgins
crayback viii excel the national greenback'
But then look at the tremendous adyan'
tage the grayback plan has over the others
your petty hfty-dollar fellow, and your
short-sigbted, miserly one-shower tinancier.
We propose to give the people enough, and
no man can tell Whist is enough for an.
other. Each one will decide for himself,
and will help himself to enough according
4 to his own ideas. None Of your cheap fifty
dollar meanness or miserable ta1o: foot
.freshes for US. ST. ll,.