The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-08-29
Major Daniels Ideas.

We have read the resolutions and the
statement OF remedies OF Major DANIEL.
There is too mach sail in them for their
ballast. Yet the Major cannot be an ultra
Greenbacker. His opinions, as we nave
been impressed with them, are not 10 De
rcconciled with any such thing as an ire
deemable currency. So we see not that the
green back lunatics can take especial delight
in his pronnnciamento. He wants plenty
OF sreenbacks, as everybody does; but it
must be remembered that men differ widely
about what is & plenty. The Democratic
platform OF the West, on which THURMAN
stands, calls for greenbacks $50 regulated
sby legislation or organic law as 10 give the
.epeople an assurance of stability in colame
sof currency AID consequent STABILITY OF
uvALuE"; and the platform further, In
Mr.. THURNAN's words, opposes 'demone-
tization or disuae Of The precious metals"
This platform, then, in the most conserya-
tive spirit, plainly demands equality between
paper Tor greeDbacks) and coin. And as
plainly does the platform look to +" STABILITY
in ua!ue Of currency" and interchangeable
ity OF coin and paper rs indispensable 10
preserve disability" in the "Value" OF
currency.
II Major DANIEL Is for this, we are with
him, n be is, We see not the reason OF bis
demand in one clause Of his statement for
the payment "of all United States bonds IN
paper, aohich acre contracted to be so paid"
II he really looss to equality OF value be-
tween paper and coin, what would be the
value Of the law to pay such bonds IN pa
per when the receiver Of the paper could at
once turn to the Treasury and convert the
paper into coin?
II Major DANIEL expects such paper to
be made irredecnable he is not a DANIEL
man as we have understood him, and we do
not believe he contemplates any such thing
as rredeemable paper.money. We do not
look upon him rs man who is at all likely
to please the gicenback lunatics any more
than he is likely to please the forcible re-
adjusters.
We think Major DANIEL has gone too far
away with his financial views to trace the
VEINS name, have we not had enough to
bring upon land sorrows and distresses
innumerable without searching the history
OF finance. War fratrlcidal, with all it's ami
mosties and distractions; abolition, with
the social revolution that it entailed; the
prosecuting legislation and policy Of the
Federal Government-these were enough
almost to destroy the nation. What they
lack in force to produce all the troubles we
endure and have endured might be omitted
without disparasement to the catalogue of
causes.
We see in Major DANIELS remedies little
that commends his pres cription. The abo-
li:ion OF the national banks is very de-
batable question, and the revival OF State
banks in lieu OF them is terrible to think OF.
We. for one, shall ever pray that the nation
may be defended from thousands Of State
banks, with their multiform notes all below
par, and not current twenty miles from
homo. Substituting greenbacks for ma
tional-bank notes is matter not objection
able in itself, for change Of form and not
Of value would not do public injury. But
certainly there are considerations in the
matter that will no doubt be brought ont
and discussed whenever the question is be-
fore Congress.
Weknow Major DANIEL, and while we
consider that there is too much sail in his
pronunciamentc, we do not appreciate him
rightly If he shall be found keeping COM
pany with the extremely ultra agitators OF
the times who have proposed plans OF
finance that are fortunately impracticable.
Could such theories be put in practice they
would inevitably ruin the country.