The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-08-06
1yhe ssree,, back lunacy.


The Greenba ck I,unacy
The Wsiq Is the champion lunatic on sne
whole Greenbaes party. hen iold that
there Is now more than tssice as mtsa cur
renes per capita III the country Us there was ss
n the DAYS Of i,s greatest prosperity, that
sap,cpt journal replies, every true, but II I.
Is all in .hc hanls:os the rich people. - That i
was Inst week. This week it begins with
the story that the rich men have !" con-
trac,ed J, the currency till there is nothing
lett OF it worth speaking Of; and this in
the face OF the facts OF the case. 1t knows
that the amount 81 the paper money in cir
cuiation in 1861 was only 500, 100000, and
that the amount now in circulation is about
four times as great; and yet 1t asserts that
the currency has been contracted. me
lVtsq' has repeatedly quoted from the dpae-
rScan Almanac Of 1878. which contains the
official figures; and therefore 1T does not
ignorantly make these nisstatements.
But that is only one item In the account.
The Wig repudiates in advance the nom,-
nee OF the Conservative Convention OF this
district. and demands q candidate for Con-
arcss who is - the reader VIII guess, in
favor OF repudiating the State debt; put
not so. The state-debt question is dropped.
It was not popular enough. The Wing de-
naands candidate who is in favor OF the
issue by the Government OF an unlimited
quantity Of irredeemable greenbacks! AND
that once astute Journal now goes so far as
to declare that il is because the grcenbacks
we now have are supposed to be redeemable
that the country has suffered, ana that we
shall continue TO suffer unit! we issue a
kind OF money which no other nation
would touch with teD-foot pole! 1t de-
clares that there is not gold enough in the
country to redeem the greenbacks, although
they are now within one half of one per
cent. OF par with gold! 1t states the DEBT
OF the Government ut SO many millions OF
dollars. and the gold at so many millions
less, and then AYERS that it would be inpos-
sibIe to keep up specie payments. And yet
the Wing hes in its possession lin the DOCK
mentioned aboYe) figures which prove that
France uses paper redaemabe in coin
and keeps that paper always at par with
gold. although she has larger debt than
the United States. The wing declares that
resumption implies the convertibility OF
$4,000, 0O0,0 900 OF national debt into spe-
cie'-a remark which has not word OF
truth in 1t in the sense in which that jour-
nal uses il. seeing that the bonds are not
PAYABLE Tor many years, but which remark
nevertheless at once reminds US that every
bond OF the United States as 'aoa0 actually
convertible into gold, except those bearing
only four per cent. interest, and these
are Mt par in gold. So that the immense
bonded debt is in this regard but Il bugbear.
The bonds are now worth more than their
face in gold, and any man who has them
can get gold for them. Here is clear and
irreiragable proof that it does not require
any such sum in gold to keep our paper at
PR as the Wig would make its ignorant
readers believe. Moreover, we all know
that when our paper money was at par be-
fore the war nobody ever preached such Il
doctrine rs that 1t would require
million OF dollars in gold to pay mil
lion OF dollars OF debts, though the
stupendous ass OF the Wing processes
to believe in such theory. Every business
man at least knows that hundred thousand
dollars in gold would just as easily pay OH
debts to the amount OF million OF dollars
as would a hundred thousand dollars in
greenbacks. The Wing pretenas to labor
under the delusion that people eat up or in
some other way consume the specie that is
paid to them; whereas the fact is that oae
ten-dollar gold piece might in single day
easily pay Off hundred dollars OF debts,
and in year thirty thousand dollars OF
debts. Certainly nobody expects all the
debts Of the country to be paid in single
day. nor in single year, but allowing only
year for the purpose, it would require
very little gold to pay them all off.
The Ehig repeats the false statement that
France has currency OF more than S60per
capita. On pages aS4 and 2S5 ofsthc Aneri-
can Almanac for 1878 the IFhig will find
the facts. We gave them Yesterday. The
The Bank of France has the monopoly OF
the issuing OF notes as currency. 1t keeps
its paper always at par with gold. The
citizens of Richmond who have recently
visited France know that gold is the COM
mon currency OF the country. The entire
structure OF falsebood was erected by SEN
ator JeNEs, OF Nevada, in the interest OF his
silver mnes-We mean the false statements
as to the amount OF currency in circulation
in France and other countries.
The Wing recommends the platform Of
the New York Greenbackers, or Commu-
nists, but suppresses those parts OF that
platform which would alarm the property
owners in Virginia. Publish it all. Let
the public know that you wish to abolish
all laws for the collection OF debts as we'll
as desire to see two-foot stratum OF green
backs issued by the National Government.
The former scheme would not damage the
country half as much as the latter.
The Currency of France.
Not the knayes who deceive the pub lie,