The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-08-05
llIlaloll lspatl
Facts vs.. Fancie's, I

lowing paragraph: !.
Il France has a circulation per capita OF
,ssS: Rnssfa, efz; Germany, saS; England,
500 while i mcriea. needing most, has not
over as Der head Ii, actual circulation. Viz
pinia,s proportion Is not enough TO pay her
reycnnf fayes to the National Government.
We must have more money, and greenbacks
are good enough, and by far the most con-
yenienf."
France issues no greenbacks-no Govern
ment paper money. All her paper money
Is in the shape OF bank-notes. Whether
she has more or less circulation than the
United States is not important. 1t is GER
tainly fact that Virginia was more pros.
porous before the war than she is now, or
likely to be in our day, and yet the clrcuia.
ton OF the country was not then one hall
per capita what ituow is. Further: Inese
French people, who are represented Us hav-
ing such an immense amount OF paper mo-
ney circulating among them. arc very glad
to get to the United States; or, to express
in substance the words ofsour highly intel
ligent and very obserrant sellow-toWnsman,
HENRY HuDNAI.L, Esq, who has just re
turned from Europe, man never knows
how 10 estimate his own country until after
he has taken trip to Europe. This coun'
try is better of in every respect than
France, we have no sort OF doubt.
We take it for granted that our esteemed
contemporary has copied the above figures
from some other journal without either In
curing as to their accuracy or intendingto
publish any statement not strictly true. we
viii, therefore, take the trouble to set II
right as to these matters. The Deputy
Master OF the Mint, i'll an official communl-
cation, estimated the entire paper circula-
ton OF the United Kingdom OF Great
Britain and ireland in December, 1873, at
e46, Dos. 600, or 1921. 600, or less than
nine dollars per head. AS to coin, we re-
peat what we have often said before, that
we are not afraid OF any quantity OF it that
can be obtained from the mines OR else
where. Nevertheless il may be well 20 add
that the circulation in proportion to wealth
is much greater in the United States than
in either France or England, even II both
coin and paper be taken into the calcutta
ton.
Now as to France. There is no Govern
ment money there, remember. Tile Bank
OF France has monopoly Of issuing notes.
It has eighty-ninc branches. The total cir
culation Of notes issued 10y the bank and
its branches was on the 10th November,
1877, s491, 40, $50 (or about tive times MS
many francs). This circulation Is nearly
half made up OF notes OF one hundred
francs, or twenty dollars. The smallest
notes issued are for five francs, OF which,
however, there are only 257,72 IN circula-
ton, or quarter OF q million OF dollars out
OF nearly five hundred millions. We showed
the other day that traveller in France
sees no notes, or next to none-all the CIR
culating ;morey being coin. The paper
circulation being as above stated, it is in
teresting TO notice that the coin reserve OF
the Bank OF France was on the 18th July,
1877, ], 1856, 100000 francs in gold and $685.
$780, 900 IN silyer--nearly a dollar in specie
for every dollar in paper. eve give the Ia
test dates we have) This is the kind OF pa.
per money that we want to seein circulation
in the United States. Any other kind is q
hIimbus and deception-a "barren ideal
ity," as Fos.Horn WILLIAM ALLEN, OF
Ohio, might say. 49,
But Virginia's proportion, we are told, Is
not enough "to pay her revenue taxes to
the National Government" Let us see:
three millions OF currency used once day
Will pay in q year nine hundred millions Of
debts, or used Ten times day will pay nine
thousand millions OF debts. Again As
there are nearly thousand millions OF dol
lars OF currency in the country lincluding
coin), Virginia's share wouldbe thirty mil
lions, instead OF three millions. Once
more: II Virginia has only one-tenth OF
her share, other sections have an immense
amount more then their share, and yet those
other sections, with all their currency, are
not as prosperous as Virginia, but are over
run with tramps, communists, and other
such characters.
Finally, let it be understood that the
Greenbackers cannot produce one single
argument which cannot be refuted by facts.
Truth is mighty and must prevail. Vir-
ginia has duty to perform in this crisis.
And yet where are her mighty men? where
her oratorsp where her statesmen? while
all these hcresies are sweeping over the
land? They will have to come to the front
and throw down the gage Of battle to the
Greenbackers.
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