The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-01-06
Rasun,,tsoa. SILVER &o.

8 ResumptIoh mas been easy and ssnoo TN IN
deed. Nothing better HID sttscsa the facff
sated manner OF resumption than the filling
Of lock with water until The boat seeking
admission into It IS aoated In without the
aid Of motive power. Gold has increased
rather than diminished in shejcofers where
means for paying gold were provided. In
New York the amount presented for re-
demption was small, while nearly 100000
In gold was received in exchange for legas
tenders more than was paid out. In the
city Of Washington few Government bond;
holders took the coin check in preference to
legal tenders. It YVES curious that one
among the fe,o was an empIoye in the Trea-
sury Department, who took check Tor
1894 In coin.
The gold dollar and the $3.50 gold pieces
were especial objects OF avoidance, as they
should be.
The Chamber Of Commerce OF New York
improved the occasion to crafty its spite
against silver bS adopting resolution conf
demning silver as a standard and urging
Congress further to limit It's coinage ana It's
use as legal tender. s., t.s
This act OF the Chamber reminds US OF
OCIrp's aversion to the old fgurs-head,
which he neYer lost an opportunity to throw
q hatckes at. j And what good did it do the
Chamber to throw the Ratchet zspitefuiiy at
silver? None whatever. Pride OF opinion
infiames the spite OF these men towards
silver. Nothing else is at the bottom OF
their anti.silver sentiments. Silver is pre-
cious metal. Only less precious than gold,
it donors gold by comparison without losing
any OF IFS value or usefulness. To the
amount OF its reinforcement OF the paper
basis is it OF value in strengthening
the foundation OF paper credit, and invig-
oratirg the enterprise and energy OF the
land. That is the plain and practical truth
in the case, and it is mere captiousness
and folly to be assailing silver and cndea-
voring to impair its credit and usefulness
in the national exchanges. This species
OF ill.nature and folly can do nothing but
bring contempt upon itself. Silver is q
good metal. 1t has maintained its useful
ness and responsibility from time inmemo.
rial, and the impulsiye money critics: OF
these times will but labor in vain in at
tempting to discredit ii. That coin is safe.
1t has had triumph, and will maintain it..
1t has performed its part in the restoration
OF coin as a paper basis, and will continue
to hold its true place in the finances OF the
land. ...@ 4. 81
What the country wants now is that there
shall be just regulation Of the relative
value OF gold and silver. When that is done
there will be an end Of rejecting coin at the
counters Of banks and repositories general.
ly. Neither silver nor gold coin should be
thrown back at the money-counter. Why
should it? What is the paper basis Of the
land? Is it not coin? Then it were foolish
to reject coin. The true purpose of coin is
that it be held in custody as the foundation
OF paper: the amount OF secured and relia-
BILE paper afloat depends upon the amount
OF coin held in reserve to guarantee it.
Silver is in one sense more serviceable
than gold, because it is happily adapted to
general circulation. 1t is the real money of
the people. To them it is ever welcome as
friend. and it is wonderful what large
amount Of silver coin can be kept afloat
through the retail transactions OF the peo-
pile. Outside OF the coin thus employed
-sooioty nonds little nthor than checks for the
purposes OF trade. Save the coin needed
for change in retail business the precious
metals may rest peacefully in the strong
boxes as the guarantee of the solvency and
reliability OF the paper media Of the land.
1t is happy thing for the Union that the
resumption of specie-payments after the
extraordinary period through which we
have passed should be done in connection
with silver coin, and should carry silver
along in its time-honored position OF that
precious metal that is most useful and that
is brought nearest ard most familiar to the
people and most respected and cherished
by them. We can hardly imagine how re-
sumption could have taken place without
it, aud woe will be the day should Congress
adopt any measure that will obstruct it's
usefulness or impair its responsibility in the
public estimation.
Resumption