The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1867-06-07
The Financial situation.

the BOSTON people upon Tue h'''i'''
situation Of the country. In the
first place we have the melancholy
information that the poor classes
constituting the laborcrs of the
country, must continue to suffer for
beef. bread, and clothing, with no
chance for an increase in the wages
Of labor.
The Secretary informs us that
there is no hope for specie payments
for some time yet to come; that the
era of paper money, Rags and Ra 9
Barons is yet to reign. We must
earn more and spend less. the See
rotary tells us, before we can hope
for better times, when the very
system of things into which the
country has drifted makes it impos-
siblc to earn more, and despite of
our ideas of frugality, prohibits US
from spending less.
Any adultcration Of the coin of a
country, or cheapening of its circu-
lating medium tends to advance the
price of neccssarics, in proportion
to the adulteration or chcapening Of
whatever is known in any commu-
nifty as money.
We are familiar with the tricks of
politicians upon this as upon kim
dred questions. But a few short
months since people every where
were signing petitions to Congress
praying that body to prohibit any
curtailmcnt of the circulating notes
Of the country by the Secretary of
the Treasury. The Secretary has
refraincd from making any curtail-
ment in the circulation of treasury
notes, to let the people learn by ex-
perience that it is not the abundance
Of Rag money in the country that
makes times easy or hard.
For the abomina bic condition Of
tho country, the Secretary is not
responsible. The same difficulties
that overtake individuals entraps
nations. Extravaganza destroys
the individual through financial en-.
barrassments, not more certainly
than it does the aggregation Of peo-
pie constituting state or nation.
Everybody knows that CONGRESS- HAS
BEEN REcKLEssLY LAVISH ITS AP-
PREPARATIONS. The war depart
mcnt alone expcnds now nearly three
times as much as were the entire
expenses Of the government during
administration, as noto-
riously corrupt as it was alleged to
have been. thirds of this whole
cost Of the war department is in
keeping standing army at the south,
where it did not for the past year,
and does not now, need a single
soldier Except for partisan pur-
poscs.)
A majority of the members of
congress have decided that the states
shall not be restored, because the
expenses Of a standing army and it's
assumed necessity divcrts public at
tention from their real designs in
prohibiting o contraction of the
rags.
The John Laws Of the country are
employed by the rag monopolists to
blow bubbles and preach "panics,
the first for the amusement of the
people, the latter to intimidate the
head Of the treasury department.
The duty Of the officer Of that de-
partment is to set his face as flint
against all this class who speculate
in produce and starvc consumers and
laborcrs by that monopoly of crops
and products obtained through the
medium of an expanded paper cur
This class Of men will al
ways preach ''panics' in the cities,
to the Secretary, and ifpossible de-
ludc the people Of the rural districts
to join in the cry, but they should
no moro be needed than should so
many voices from the lunatic asylum,
or from bedlam. Thousands Of them
should be at work on the prairies,
instead Of living in the cities fright
ening the people with "panics' and
specializing in corn, wheat, beef
and potatoes to the detriment of
both consumer and producer.
The Secretary after assuring the
country that it must prepare for
still higher taxes and heavier bur-