The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1878-01-09
Irl,l,,oilll atllI.
.. srARY 1913 S.
silver and Fesnsnpsi


silver and Resni
SIS Tbe laws Of Providence aosor eA.lslnes.
Sc does solid creme s W.
- - ss;s aom Isl minds. VIC.
~ !. aarr;es he pendulum Of the clock 81
y. 81 economy te an extreme. md the re.
scsionary movement that must iosioSS 50.
rles that same pendulum 10 the opposite ses e
extreme. But each time is sWpin eg ~.
side 10 eide IL traverses a lessenea spaes
nntll the yust sibrationis reestsoias'ieu auu
: rern,ars and proper movement is mann 3.
ss,nsa, The ]. Just middle" line is tnat
which finally prevails, and that WnseGns =
best for oil men. 81. s., ~, e
8 we have had a violent war between slie
e ca,s.ites,,, or gold-worshtppefs "a. anu
the silver lunatics tho rud 1te ana uil-'
civil titles by which the opposing mesalilc
sY,ar.,es SNOW each other. We have thought
thst; Il was d vain war and q blind one..EA
1 little common sense and little clYti'y
,aipht have ctt,cd the CONNECT at any perlod
during the progress OF The war. IL neeoea
only tile reconciliation OF silver upon tue
basis OF ia Just relative value OF the TWO
precions metals, the reception by the Fede-
mi Government OF Its. own paper Tor all
debts due to if, and the resumption OF spe-
c;e.nayments. The bi-metallic basis for the
snaper Of the country would make tnat basis saA
broader than it would be resting upon q
single metal, aud it would be faultiess. IL
would revive industry, stimulate eheef.
nrise. and restore confidence. This would
ipsure the readiness for resumption, and
then indeed the way to resume would be 10
resume. The payment OF duties on tor-
eign imports in the currency OF the Govern
ment would wipe out the gold premium,
except possibly o merely nominal charge
for transactions in gold, and that alone
would be enough to insure resumption.
Now, why couldn't the statesmen unite
upon this simple platform II they go on
ouarrellfns about reconciliation OF silver
they only prolong that state OF doubt and
uncertainty, and the existence OF that ais-
trust financially, which are altogether IN
compatible with resumption. Letthe states
men go to work, and, disrcgarding the wars
OF the 4sBig-Endians and the ""Little-
Endians,s' they can settle the trouble in
brief time. 81 =
II the coins are based upon the proper
valuation and the proper relation between
the two metals, where can any trouble arise
Silver will form legal and perfectly reliable
part Of the metallic basis, but cannot posi-
bly, be the medium Of the payment OF large
sums OF money. The great bulk OF pay
ments with the civilized world must be
made in checks and bills of exchange.
Metal cannot be employed save in special
md peculiar cases. II will be announcement
to payer and payee. Gold is a trouble, and
silver a greater. They must be kept as
merely representative. People will be sat
isied TO know that the metals are on hand.
They would avoid them, and would never
remove them from the vaults where they
are held to guarantee the paper circulation.
President HAYES stands on the platform
we have indicated. 1t is a platform upon
which all sensible and disintereSted men
may stand. Our friends RoTHsCH1LDs occu-
py this intelligible and wise position.
About resumption we do not think that
law should name the time for it; but as
law naming the time does exist, we would
not repeal it. We think with the remoneti-
cation Of silver resumption may take place.
A good deal Of preparation has been made
for it, and it will be better not to lose that
preparations. The failures that are taking
place are very much OF the wounded ducks
OF past panics, who have been staggering
from loss OF strength, maintaining by trick
the appearance of solvency. and who have
at last sunk beneath the water. They can
not be revived and there are others who
must share their fate. But II there be an
effort to heal the tainted and gangrened
now in the monetary world, pestilence
NAV be generated and become disastrous to
many.
Let silver be remonetiZcd, and let the
country resume in TO. But letus not talk or
even. think about retiring all the greenbacks
in hurry. There will be no necessity for
anything OF the kind. Let gold be paid
when demanded; but if we understand
anything Of the subject, when confidence
is thoroughly reestablished and specie-pay-
Rients resumed mighty little gold will be
required. The excitement will end in
peace. There will appear to have been
"great cry and little WOOL"