A Nut For The " Fiat" Fellows To Crack

The Richmoud (Va ) Dispatch furnishes tbe "fiat " fellows tilia little iiut to crack: "Thero being no such thiug as a dollar, it would eeem to follow tbat the word ' dollar ' would be entirely inoppropriate if placed upon the now greenback. So it would be. The pieoe oí paper might just aB well be marked ' one pound, or ' one cent,' or ' ono franc,' as ' one dollar.' If it íh not to be rodeemed in gold or eilver coin, the grcenbaok having the word ' dollar ' upon it would represent nothing valuable. It is cnly because this word ' dollar ' means so niuch gold or silver tliat the present greeubacks havo a valué as a representative of money. If they did not represent real Bioney they woald Uave no valuó. Nevertheless, tUe Greonbackera propose to iesue pieees of pKpflr marked ' one dollar,' ' flve uoliars,' etc., to thc nmountof fifty of these bugus ' dollars ' for every inhabitant of this country - that Í9 to say.over 2,000,000,000 of these so callee! ' dolíais.' Yet the word 'dollars' as they thus proposo to use it would havo no meacing whatever. It would be an absolutoly eenseless use of the word. The woudeiful tlieory of those Greenbackcra is bosed upon ttie itlea that tito Government can establish values by law. If so, the issuing of groenbacks as a nieans of infla ting thtí currerey would b a useless expense aud an iuexcusable waste of time. It would be just as easy to pass an act of Congress providing thnt the m'"nís recoin (I13 200,000,000 o gold and silvfr now in the traasury, and mark eítch i?l coin $10, each $5 coiu $50, each $10 ''cin $100, or, what would be still simplcr and botter, an aot providing that SI hall hereafter pass for $10, $10 for $100, and so on. It would thus take but a short time to Ínflate the currency and have $2,000,000,000 in circulation."