The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-05-30
The Break. Upon curtaslment.

| The Senate has done we'll in passing the
bill that puts the break down upon the cur
tailment OF legal tenders. The Treasurer
will be enabled to reissue all that comes into
his Department. We are clearly In favor
of this, and OF haying enough greenbacks
| to meet the wants OF the Government.
While the reduction OF the amount OF
greenbacks would be injurious, and tend to
cause possibly some little embarrassment to
resumption, we are not impressed with. the
wisdom of those who are calling out for i'm
mense issues OF that paper. There is a de-
fusion upon the subiect-avery great one.
The impression seems to be that the author
| ity to the Governmental issue vast amounts
OF greenbacks ensures plentiful supply OF
them in the pockets of the people.
This is supposition without reason. No
matter how much money the Government
prints it can only get into circulation
| through Government payment oil debts due
by it. So to get it out there must be claims
against the Government. The case may be
truly stated thus: Unless the people have
the means. to buy greenbacks, no matter
how many are printed, they can't buy them.
And, again. we must remember that there
is always going into the Federal Treasury
money that is paid By those who owe the
Government. So that the greenback cur
rency can only be increased when the Gov
eminent pays out more than it takes IN.
The difference between the amount taken
in and the amount paid out Will show the
amount OF increase the Government is able
to throw into circulation.
We may add that when resumption takes
place-indeed. we may say. it is almost the
case now-gold and greenbacks will be at
par, and the Government may store its goid
aud pay out greenbacks. Those who nave
coin demands will in great degree prefer
the paper. Then the holding OF plenty OF
rreenbacks viii promote the convenience OF
the Treasury; but it must still be remem-
bered that the amount OF currency Will only
on that score be increased to the extent OF
its substitution for coin in the transactions
Of the Government.
All which means that people who suppose
that there is any way by which Govern
ment can, in an easy and unbusness-hke,
or really Legitimate manner, increase the
currency so that it will flow i'll plenteous
streams into the pockets OF the people are
eeregiously mistaken. Such expectations
characterize the minds OF sanguinc and self
induigent people.
The blockheads amongst readiusters and
the sreenbaek lunatics, led on by General
EWING, run mad with their ideas about
pockets full OF greenbacks suddenly show
cred upon people who have no money to
buy greenback But cool-headed and sem
.sible people are not misled by any such nom
sense.
We want nc such issue Of greenbacks or
paper money as 10 evade the legal manner
Of acquiring them. They cannot be easily
within the reach Of all without Degrade,
ton OF their value to degree that would
be ruino1Is to the country. The strategy OF
repudiatlon is to cause this degradation OF
the public securities and promises TO pay,
and then to pay them at their true value
when payment is made. No wise and
proper Government will ever make conces-
sions to those men or parties that hope for
relief by excessive issues that ruin the
credit and honor OF the Government.
1t is well TO stop curtailment and 60 along
smoothly with resumption and the public
business.
But let the Government disregard the
greenback folles OF the day. The having
OF plenty OF greenbacks without paying
for them is impossible, and it is impossible
+ to obtain relief through greenbacks accord
Ing to the lunatic programme, unless the
Government freely distributes them amongst
the impecunious.