The Ohio Democrat and Dover advertiser. [volume] (Canal Dover, Ohio) 1839-1840, 1840-08-21
PLOUGH BOY.
y Hrom the New Y. Era.
OUR PEGpNiARY TROUBLES.


It is presumed that no man in his sen
ses will now be so fool-bardy as to de-
ny that all odr pecuniary are owing ex-
clusively to the sudden expansion and
contraction Of our vicious currency by
tie Banks. 'Fhe most rampant Wing
would not doAit, if he had studied atten-
lively the retbrns o! the Banke as made
10 the Secretary ofthe Treasury. Blu,
as i, is well known that they are not
very cage. Eof Information Of the kind,
.uuisss th6y -cau.Sy deception draw al
argument 10 lavor OF their desperate
cause, We propose euIightenina little
on the subject. 1t appears by the re-
turns thus made, which we copy from a
Wing paper, tha, the loans Of all the
Banks made ih 1887, up TO January
1888, announced to S479,26l,9
From Ian. INF 1888 to
January i839 492, ,27s,oO5
do 10 Jap. in 1910 420,Sl5,025
Showing an astounding
expansion of 1888 o.
YER 1887 Of. :. l3,OO2,Osl
And the yet more as
founding contraction
in 1889, amounting TO 7l,462,994
Seventy one Millions Of Dollars taken
out of circulation in one year Seventy
one Millions of Dollars of the amount
loaned demanded to be paid back in one
year by the Banks. Is it Gone for the
benefit o. the people J? No, for their
own exclusive benefit. They found they
had gone too lar--had loaned loo much
to speculaiors rs-monopolists, &c. and
they suddenly contract and call in their
issues, destroying the merchant-,he
trader, the farmers hopes, by reducing
prices aud throwing every thing into III
ter confusion. That the least initiated
NAV see how this thing is made to op.
era,e, let us suppose that County bank
should loan half of iIs capital 10 the far.
mers in its neighborhood. They have
invested 1t all IN stock, lands, &c. exs
pec,iug to pay by gradual iustalments,
bat all OF sudden, they are informed
that small portion will not answer,
they must pay The whole, or half atleast
next month. What would pe the cons
sequence, would it not destroy or crip>
pie every one of these men, would they
not be Obliged TO sacrifice their farms,
their stock, their grain to raise the mon
ey2 Butlhese men alone would not suf
fer by the iniquity Of the Bank-!he hard
times as it is called, would extend
through.the whole community, every
man owing the farmers dollar must, Of
necessity, pay up, for the money must
be had; they, in their turn, call in their
little debts to pay the farmers, and SO
the pressure runs through the whole cir
Gle of society until one snaps, another
breaks, and away they all 60, sunk into
irretrievable Bankruptcy.
Such is the Banking System, and
sucn tho result TO those who place their
dependence upon them. We are aston>
tished a, their wickedness but more as
touished that the people do not rise in
,hejr might and crush the whole system
of fraud and robbery. But thcro is ye,
hope for the homes! man. Tho farmer
aud the laborer, who are the real produ>
GERS Of the wealth of amy and every ma
ton are soon 10 see better times. Let
the people perseysre in the noble prog
ress Of reform, lei them not be deiuded
or turned aside by the false cry OF alarm
got up by Bank wings and SPECTATORS,
and we shall all End the glorious Sub