The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1865-10-31

AoACe VeIooo EHtcees
A business friend contributes the following ar
ticle for our commercial columns. While we are
not prepared to endorse all his positions, We com
mend them to the consideration of our readers
The country is again fast approaching business
stagnation--as was the condition Of things early
last spring-then caused by the plethora Of cur
rency, high speculative values, and the close Of
the war; and periodical times of business stAgna-
ton win continue in the nature of things occur
until we reach specie basis the necessity Of
which, to secure stable values, public man in
our country so fully realizes as Secretary McCul-
loeb, his recent speech At Fort Wayne, Indians,
fully indicating that he win in his sanusl message
to Congress, strongly recommend an early resump-
ton of specie payments. Now that the receipts
Of our Government exceed its expenditures, the
surplas can be wholly used, as it should be to
fund the currency, and that policy is the only one
that will Government securities from dis
credit, and the people from bankruptcy.
Whether our Secretary of the Treasury viii be
able to Withstand the pressure from within and
without, by politicians, Office seekers, and specu-
lators, remains to be seen, as such measure will
not by any means, in its inception and carrying
out, be popular measure, its tendency will be
to destroy speculation by bringing about annually
reduced values, both for the products Of the soil
and the manufactures of the country. and is sub
cial system. The laboring and mechanical class
Of our population the bone and sinew of our land
suffer the most from the present inflated state Of
things, and should raise their voice en s,u..e to
sustain the Secretary Of the Treasury in carrying
out his policy in the direction of an early return
to q specie basis.
And the mind that cannot comprehend it az
both feasible and practicable, as well as neces-
sary undertaking, are sadly deficient in that
knowledge which American character is proven
bal for; and If such policy is strictly pursued
without fear or favor, the day when that result
will be accomplished is not far distant.
And while we, living in agricultural portion
Of the country, feel interest in having our pro-
ducers receive high price for their products, we
cannot forbear warning them that the present ex-
IRENE prices, which approximate towards famine
prices, in the most productive country the world
ever saw, are inflated and speculative, caused by
q redundancy of curreucy-the volume of which
being more than the commercial and industrial
wants Of the country require therefore they cannot
be maintained. Europe to-day is exporting largely
Of manufactured goods, and many other articles
into our country. upon which her exporters are
realizing handsome profit; and among pthe,
things, our attention has recently been called to
an export Of seventy hogsheads of tallow from
Liverpool to New York-perhaps the only instance
on record of the kind in the history of this coun-
try. Under such state of things it requires no
OF Of such operations, and we are growing poor
And now that one of the large products Of the
West-the hog crop-will soon be ready for the
market, our community should know that while
he hog crop win be short in own State and
some other'of the Northwestern States, that Iowa,
Is she does, occupying proud position in tn,
galaxy Of States, Is but q small portion Of THE
country, and that Tennessee and Northern Mis-
,issippi will produce largely of hogs this year
doubtless fully making up any deficiency in the
West
And farther, that the crop of hogs in England
is Eve hundred thousand more this than last year.
and that the packers there are now buying pack
ing hogs for sixpence per hundred weight-which
is less than thirteen cents net in their currency
which is metallic. During the rebellion we have
taught the people in the South to become produ-
GERS, and the South win want very little Of our
products during another year leaving as no out
let for our surplus but Europe; and she will no,
take it only at reasonable prices. In view of all
Of which, we leave the subject, leaving 1t to an in
telligent public to correct