The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1879-01-30
Bore About Money.

Editors Dispatch: In your article about
the small bonds that bill before Congress
was calculated to secure in the interests Of
the people, you treated the subject rs ie-
licitous plan, as serving to encourage the
masses to become b0ndholders, and there
by enlarging their interest in the perma-
ncncy OF the Government and Its eco
nomcal administration. This is all well
enough; but we want to know what they
are going to give for these bonds. Ii was
conceded that q further reduction OF the
currency would not do. Now, no matter
whether gold, silver, or paper currency
is given, the effect will be to, re-
duce still further the circulating medium,
which has already been so much contracted
as to leave property Of Ill kinds almost high
and dry. The Government will want gold.
silver, or notes for its bonds. and the result,
we state, is inevitable. Besides, we sup
pose the Government was expected TO re-
duce, il possible, its present debt by paying
all OF the present bonds it can. II, how
ever, the larger bonds are to be called in to
be exchanged for small ones, the question
follows, Who will be called on to give up
his bonds for the exchange? and by what
rule are they to be required 10 surrender
their bonds unless the period for payment
hes arrived? Borrowers know well enough
what denomination Of bonds will suit best
the lenders, and il the money Is wanted.
then you may rest assured that the bonds
| will be put in the best possible shape to sat-
isfy the lenders.
This is not all. IL is idle to talk about a
motive for lending money 10 the Govern
ment. The only proper motive for lending
! money is to make interest in the best way
with least risk. Morality is secured II it be
done legally and justly. Philanthropy Is n
weak element, and ends in such attempts to
do good with money in disappointment ana
ridicule. Motives for attachment to Tue
Government should arise from other con-
siderations than its condescenSion to take
our money. Ii We are to lend Money to
people because we love them or esteem them
we must love and esteem them fast; and
even then the rule is not to let QUE feelings
control our Judgment, but require, rs in
other cases, confidence and security. This
being done, we are sure to love less ard less
those we have so favored, because we have
then to- watch them more closely, and we
cultivate 4 sentiment Of eXactioa OF them,
for it looks as il il was they who owed us
the love and esteem as well as the interest,".
| Now, it is idle to talk about people learning
| TO esteem the Government mere after hav-
| ing loaned it their money. VIC wonder al
had not found OCT that the pass and mode
rately-moneyea people know well epQagt
what to do With their money They hart
| little Trouble. perpleXity. az unhapplness
! about it, 1t is the wealthy who have cares
OF this sort, and they are table pitled some
times. for not being disposed to lend. thes,
| money from, these motiyes.of esteem, which
would 9ixe. them so'musi comfort and 81
.Iliale, concern IL they woalh only thak, SO.
! But. we have said 5afore, Il tseS Cos
eminent and all concerned would only le
money alpne. it WonId so its own way aa'
best accomplish the ends and uses. Of it.. Le
il alone. Let those who have it alone. An
let those who. haven't it alone And lie
lending and borrowing 60 on sssthes hay
\ sinea, the world was. There HAast be lenc
i erssaaA borrowers hesb, and nene SHOULD b
\ bosh lenders aud borrowers Ut the sam
time, GoYernmeak should ,nsk do both an
mere than men. and whSasef--GoYera
aents, banks, or men--nndertakes TO- q
I both, they sooner or later break and gs
X ruin. ts,fSififis< 4. sli.s..5. si.ss Il Z.