The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-12-04
Ti,e Fight Against National Banks.
rspcciaf Correspondence Of lie DispatchI

WAsaInGToN, December, 1878.
3 Last April the Committee On Banking and
Currency reported Bur,aner's bill tosretire
the nat:onal-bank circulation and substitute
United States Treasury notes for the same.
This is now pending In the House, and. viii
be pressed to It's passage at an early day.
northern Democratic senator says this ques-
ton will give rise to-a4 lengthy discussion,
and one that will be profitable, to the coun-
|try. In the beginning he favored tue old
State-bapk system, but the national banks
have succeeded, lie says, SO well that he has
changed bis views. Hc believes, however,
that they have been used against the Demo-
cratic party. He is certain that the labor
ing people OF this country will never be
willing again to receive on Saturday night
any currency That is subject TO shave. Mr..
Thurman fayors the principle OF the Buck
ner bill, and I find Democrats generally Of
the same way OF thinking. nj
THE SILVER Observation-Disclosures :
| The bill of HartzelI, Of Illinois, putting
silver and gold on perfect equality, was
reported last session fayorably and is now
before the House. At present the trouble
ia that il you have silver bullion you cannot
deposit it with the Assistant Treasurer at
/ New York and get a certificate; as in the
case OF gold bullion. Then it is claimed
1 that not only have the banks conspired to
defeat the spirit Of the silver act, but that
the Secretary OF the Treasury has not given
| il fair chance. The silver-men say he has
$50, 100000 Of silver in the Treasury to aid
| in resumption and to serve as q barrIcade
aganst.a run on gold. Now, asa million Of
dollars in SILVER weighs just thirty-one and
quarter tons, when the Secretary shall Of
| fer party that amount, in connection with
million or two OF gold, it will bea metallic
elephant that will be apt to bluff him off.
Judge Buckner, the chairman OF the House
Banking and Currency Committee, says he
! is in favor Of forcing Dir. Sherman to put all
of his gold and silver in circulation imme-
diately, even if he has to buy up and retire
slx.per-cent. bonds in order to do so. In
the Senate to-day Mr.. Voorhees, introduced
resolution that tile Finance Committee re-
port bill making the trade dollar q legal
tender, and that when it reaches the Trea-
sury it shall be rccoined into the standard
dollar. 1t was originally gotten up for the
Chinese trade, and contains 420 grans--7S
grams more than the standard dollar. Six
millions Of Tue trade-dollarS have been used
annually in China. .':'' ~'..
THE PRESIDENTS MESSAGE-WHAT1 is THOUGHT
|, 81" OFT. .--...
! The Radicals are not specially jubilant
over the Presidents message, and the Demo
Gratis say that while it is moderate in tone it
is obnoxious in sentiment, because itasserts
fraud and Intimidation in the South, and
asks for the same control over the army that
Grant had in the worst days of his admin
istration. They say Mr. Hayes has fallen
into the common mistake Of his party: that
bcrauSea district has majority Of colored
voters, therefore Of necessity it must send
to Congress Radical, when the truth is
that the colored voter no longer obeys
blindly. either the league or Federal office
holders.