The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-07-13

MORE NoNEY.-Yes, we want more money. But
how are we to getit? There are now nearly Two
hundred millions Of Money mon IN sn anv Of it. And II
the amount therein were Increased TO thol;Ssnu
millions OF dollars we do not kEow now VIC C0uI Ell
any of if Is IL proposed that lie government Sili
give II rway? Isl to be wasted upon new once ,
holders? How Is 1t 60 be put into circulation NC
same people who elamor Tor more snenGs SO much
money now, and say that taxes are eating up Ihe
substance OF the people. If the GovernmeHt 9isIt
to spcDd less, how Is tue money W Ees ont Hse''
moad DtSp1tch.
You might try paying off few hundred
millions of the public debt. 1t is probable
that some OF the money thus paid out Would
get into tile channels OF trade, and the peo-
Dle would at least be saved the tax which
now goes to the interest. Wheeling IteJlS-
ter.
The Government has paid eff during the
last ten years hundreds OF millions of dol
lars OF its debt. From 1866 to 1873 it paid
off S54O, 100000 OF it. So that ii the rem
edy for hard times, proposed by the Regis
ter, were good one, prosperity ought TO
be walking her rounds throughout the
whole country. The proposed remedy,
however, being no remedy at all, but a
scheme concocted by men unacquainted
with politico- economical science, the coun-
try is now in more unfortunate condition
than it was before one dollar Of the national
debt had been paid.
There are already hundreds Of millions OF
dollars lying idle III what the Register
doubtless means when it speaks OF 'the
channels OF trade" There never was be-
fore in the history Of the country so much
money lying idle and unproductive. The
Government itself has in its treasury two
hundred millions OF dollars OF good money
money that is good the world over. Let US
not dcbase our currency. nor turn it into
worthless paper e" redeemabIe in nothing"
until We shall first have tried what
virtue there is in paying out these
two hundred millions OF real dollars.
Our belief is that neither we nor the
editor of the Register would be benefited
to the value OF q postage stamp il the entire
sum were paid out for Government expcnd-
lures. But let this be as it might, it will
be time enough to talk about issuing
two thousand millions OF greenbacks Gre
deemable in nothing" when we shall
have undergone the experiment OF put
ting out an additional two hundred
millions OF good money. II that expert
ment fails to .slift the PRESSURE" we
cannot imagine by what process Of reason
ing the conclusion can be reached that the
prosperity of the country would be pro-
NOTED by flooding the land with "paper
dollars so called, but which, il issued as
"absolute money!" "redeemablc in no.
thing" will prove to be as worthless as
Confederate Treasury notes were.
We would cordially support any measure
thatsrromised to bring relief to the business
interests OF the country. The hard times
bear upon us with as heavy hand as they
do upon anybody else. We have always
opposed all movements looking to a con-
traction OF the currency, and all attempts
to force the resumption Of specie payments
by act OF Congress. When The resumption
net was passed we predicted that business
enterprises would cease under its baneful
operation, claiming that confidence, "aplant
OF slow growth" could neyec exist in
the commercial world so long rs there was a
prospect that the greenbacks would increase
in value at rate greater than the usual rate
of interest. And il business was partially
paralyzed by the appreciation Of the green
backs, surely 1t would he ruined by SO rapid
depreciation Of them as would follow the
issue OF a thousand millions OF them ere.
deemable in nothing" Give US more
money; give us an abundance OF money;
let the currency flow as free as you will, but
give us real money. Give us genuine dol
lars. not so-caled g dollars"
1t Is said that the money centres attract
too much OF the present currency to them;
that New York. Philadelphia, Boston, &C.,
are oyerrun with it, whilst the rural dis
tricts have scarcely any of 1t. Then, nc
eording to your own theory, those cities
ought to be Astounding with prosperity, as
they are Astounding with money. Is this
the case? On the contrary, we arc assured
that the times are harder in those cities than
elsewhere. So the theory is proved to be
SIN error. There may be hundreds Of mill
lions Of good money lying idle in q city, and
yet that city be in a worse condition than
many another town that has much less cur
reney, Surely irredeemable money could
not produce a prosperity which good monef4
has failed to produce.
All theories which teach the people that
the Government can enrich them by print;