The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-11-20

,hsen = rrant reIisf to The STATE if fully ex.
ecnfssls ii would Iiit ironEif nn enormous
hnrde,s II, nv opinion no fnft Their con c a
s,a,,7 ssfif ever bn made by The bon oldefe.
| N tl,e jaw should be repealed, the credit OF
the stata fsill be irretrieYably ruined lWhlle
IN. burdens OF the Taxpayers will be IN
creased. 1T would not only be dsgTace
without profit, but disgrace Win a0s0lass
- Do you think the law will be re.
mo. /, do not. Seven efghtbs Of the
most intelligent men and large property
Ii holders OF the State are In favor OF the law,
and although the Readiusters claim ma
Iiority in both branches Of the LEGISLATURE
they wilt hardly dare 10 repeal an act when
il SO advantageous to the State. Not Few
OF the members elected as Readiusters are
more anxious about the, offices and the
spoiIs' than the debt. They know, no
matter what they NAV have said during the
canvass, that the net relieves the taxpayers
and they viii more than hesitate before
voting for its repeal"
In regard to the possible action OF COY
ernor Holiday should the Virginia Legts-
lature repeal The law, Mr.. McCuioch sald :
9. am not, OF course. authorized to speak
for the Governor, but he is an able, high
toned gentleman, deeply concerned IN the
honor and welfare Of the State. BE strong
ly favored tie passage Of the bill, and l
have no doubt that he will stand by 1t ana
defend it to the bitter end"
.sDo you think that the agitation OF the
question OF repeal has done much harm TO
the State p"
! II do: immense harm-harm to the Gre
dit OF the State and to her great material
interests 49,.
RETIREMENT OF LEGAL-TENDER NOTES.
"Allow me to ask you question or two
upon other subjects. Do you think that the
legal-tender notes should be retired from
circulation?" ::
"Most unquestionably do. Every dol
lar received by the Government in pay
ment Of dues or otherwise should be
cancelled. There never was, and there
probably never will be, so favorable time
for the retirement OF these notes.-the poi
son in our financial system-as the pres
ent."
"Would their retirement in the manner
you suggest be preiudicial to the business
Of the country?"
"Not in the least. They would be
gradually withdrawn, and when With
drawn their place would be filed imme-
diately with bank-notcs or gold and silver.
With our large production Of the precious
metals, with gold in large amounts coming
into the country, and with the national
banks in full operation, there can be no
lack OF currency-thc danger is in the other
direction. Imitation, which increases too
rapidly the price Of things that are yalua-
BILE, and gives artificial value to those that
are not, is what is now TO be dreaded.'
MR.. MCULLoCH AS A BI-METALLIsT.
els the report that you are 4 bi-metallist
true?"
"Well," replied Mr.. McCulloch, Gin one
sense, yes; in another. no. l believe that
gold and silver should be money in all ma
tons, and that by general diffusion OF them
as money among the nations they could be
made to maintain such comparative value
as might be agreed upon. The world,
with its rapidly-increasing volume OF
business and its immense Indebtedness,
cannot dispense with either. But while
I think that silver with gold should
be. and in due time will be, univer-
sal money, do not think it wise in the
United States Government by itself to I'M
dertake to make silver equivalent to gold ;
nor do favor the continued coinage OF sill
yer, unless small noteS-say all notes OF a
less denomination than $40, and 4 year or
two hence less than S20-arc withdrawn
from circulation. am sure" said Mr.. Nc
CulIoch. in conclusion, "that the best in
terests of the country will be promoted by
the substitution OF silver-which is not long
to remain greatly Approximation the small
notes now in circulation"