Indiana State sentinel. [volume] (Indianapolis) 1841-1853, 1842-12-13
Farmer, and Mechanics.

If you to know what has caused the distress Of
the times, look here. and learn by experience.
From the time that the Bank of England incorPc-
rated 20 this present moment the trade Of that country
has found peace. succession Of distressing revul
sions preceded by the cause, en- imitation Of the
paper currencs cnd followed by the effects, general
bankruptcy and ruin, has affected like the periodical
vsstions of plague. In the years i792. 1877 isii.
Isle, 1925. 1896, and 1882 e-e told Ivy farne.
Thornton, Ricardo, Mccullough. and other British
writers, the commercial affairs Of Great Britain were
thrown into the widest confusion The causes every
instance have been the abuses of power
mited by the great banking monopoly of the kingdom.
Either its grasping cupidty, the still nss-
table wants of the Government Of which il the
miserable tool, has forced it into unlimited expansions
which followed by the usual train Of rycculation
extravaganza failure and pTostration. Says Mr..
Mccullough, IN speaking Of the crisis Of 1914, The
failures that then occurred the Distressing be-
hey affected the industrious and poor classes and
frequently swallowed up IN instant the fruits Of
long life of laborous and unremtting ton. Thou
sands upon thousands who had in 1915 considered them
selves atucn found they destitute of all property
and sunk a. If by cnchanimen end wi,or any fault Of
their into the abyss of poverty. Says Mr. Horner.
at the me IN his place in The House Of Commons
This crisis has given rise TO Universally Of vrelched
which has been equalled. Words of similar
import might be applied any of the periods Of distress
to which have already referred. Eng and, said Hr.
uskinson, discoursing of of these periods. Eng
land is within riyeight hours Of state Of barter.
The Bank of the United States into operation in
the spring Of 1917 It's very first movement was with
less than three millions of specie in its vaults 20
pand its issues the of forty millions OF dollars
The immediate effect an abundance Of money!
9
day The honest and regular efforts of pains-tlkins
custry laughed to scorn while splendid riansons
adorned The cities, and brilliant equpagc- rolled through
the streets Put within years the end Of this sppa-
rent prosperity came. The Bank driven ex,rcnes.
resored 10 the rigid contractor prices f traders
became bankrupt the rich reduced poverty. the
poor house and home and eeneal stigma
ton of business produced general suffering. OF
some the consequences let then living witness speak
Niles, IN his Register of the 9TH August lsl9, says
1t Is estimated, there twenty thousand daily
seeking work in Philadelphia; in New York, thou
sand abe bodied wandering about looking for
and adding q these the destitute who have no.
thing DO the amount csnnot be les, than twenty ihos
sand
Jnie this institution, which may be rec trdcd tho
representative OF the whole banking system scenes
ng from those deserted only in the greater less nten
sy of the public distress have been Witnessed this
country, during tie years 1928, 1923. 1884, 1887, and
1899. perpetual alienation from boaed prosperity to
the oppressive and exhausng ieution hss marked
our commercial experience. We have 1T time pos
scssed currency of soundness aud stability. There has
beer in the operations OF trade any Tor tina.
implicit and imnovabe confidence, which Is the only
source of sure and substantial wealth. We have been
suspended expression Of Adam Sni,hs. on
the Dedaan wings Of paper money and the higher We
have permitted them carry the more fearful BEGINS
the Janges Of suddenly dropping down into The -tysr
TAX Fam 10 Ds>Fs-Tie OHIO Statesman says