The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1868-03-12

...x dane So sss cordially iavited 70 fnke part In
..nd,n. delegates to tls Convention.
~ order Of .hs Republican ssAts osnssal COMMITTEES
49, c. Q. HoURsH. Chairman.
waYsAND MEANs-THE FINANCIAL
sITUA TON.
The Secretary Of the Treasury, certain
members Of Congress, the newspapers, busi-
ness men and the public generally have all
discovered that there is financial situa-
tion.' They have all resolved themselves
into more or less extensive Committees OF
WAYS and Means, to measure, divide, sub
divide. analyze, and generally master that
financial situation. Some Of the more pre-
found aud adventurous of these investigators
Of the situation aforesaid, diving into Its !
depths, have risen TO the surface, bringing the
most mystifying abstrusities as the spoils OF
their research. We shall not attempt TO fol-
low them, or to rival their labors. II lsvery |
simple and plain facts and principles that we
propose 10 state. Facts and principles so
very simple and plain that We are all il dan.
ger Of overlooking them completely. Aud
We, they are the key to the whole situation
We can we'll incur risk of censure and rid
icule. and state very long established truths
of Political Ecouomy. While there is so lit
tie attention given to that study, the danger
is not that these truths will be too frequently
stated and be too we'll known, but that they
will not be stated or considered nearly
enough.
The child whirls lighted stick, and il be-
wilders. Ii appears TO be numerous points
of fire, forming a circle. Yet tits but one
point. SO the endless eirclings and fuctua-
tions of trade and exchange bewilder and
mislead. We must break through these de-
ceptious appearances; then we discover that
all these endless and perplexing streams and
currents of business are made up OF certain
apprecabe determinate values, and that
these values are products of mems labor.
In looking at the financial situation two
things prominently appear-the Government
is largely in debt, and business is dull. Let
us consider, in the first place, the dizziness OF
business. And here we first remark matter
that is gratifying-the people are not IN debt
OF course, in truth, the national debt is the
peoples debt. But the Government; is the
representative debtor, and we will so consid-
er it. &Apart from this, the people are not in
debt. They we're in debt in 1857. So. here
is one advantage now; we may have duh
times, but we can have no such s'crash" as
there was in 81. Business is the exchange
of values. Business duliness has nothing to
do with wealth. A community or country
may be very wealthy with scarce any business
doing. St. Louis is doubtless FIVE time!
weather. than Chicago, but it doesn't dc
half as much business. Brisk times de-
pend upon the amount os values in trade
and The rspidity Of their circulation. Well
now business is dali. That is because there
is reduced and slow circulation Of values.
Can any legislation Of Congress improvt
business? 1t may put few eddies in facti
tious motion, bnt it is powerless 10 make any
impression ON the great stream of business
Because Congress cannot create an iota Of
value. "But it can issue more Green
backs 1t can make money plenti-
err There is already about two hundred
and fifty millions of dollars of greenbacls
money in the country now more than there
should be. 1t is only worth about seventy
cents upon the dollar. If Congress
were to increase the issue instead Of Gre
ating values and helping business, it would
only depreeiate values and depress business
'sOniy worth seventy cents on the dol,
lar says some Democrat, isthat comes Of
having greenbacks instead of specie Nov
that's only stupid. For there would be
proportionate decrease in the yalue OF golt
and silver, if they we're as much in excess a
greeubacks over the business demands of tn,
country; allowing for the conventional diff
ference Of estimation in which coin and pa
per are held as currency. Since the days o
Old Fenice's commercial supremacy, trad,
has always demanded paper representative
of values. We had paper currency unde
Democratic administration, and it was th,
poorest paper currency, as the greenback i
the best, ever known inthls country.
But you say you haven't money Tha
ism I because money is scarce; it doesn t prov,
that Congress hasn't done It's duty touchin,
the tlnanees, /. is because you havn't any
thing 10 buy money with You must owr
something that has value before you eau bu,
money, or ANYTHING else that has value. !
isn't the scarcity Of money that makes time
dali It IL the scarcity of other things; tn
scarcity Of corn, wheat, wool, sheen, cattle
horses, rice, cotton, sugar, mills, railroads
farming mining. manufacturing, house
building. ditch~dgging, the scarcity Of labo
and capital applied in production. If Their
we're more values being produced in III
country, we would have prosperity "
would have the liyeliest business life with orl
one-haif the currency in the country tha
there is now in it, if every man in the conn
try were aproducer as well as consume.
We will have prosperity whenever there =
fewer men trying to live BY the exchange {
values and more living by the production 9
values. Inere mast be fewer spectators an
traders and more laborers. This conntr
must learn that wealth is the existe GO !
values that business prosperity is the yan;
'' ea'e cremation Of values; that value
are only produced by human industrv an
that SO long as capital is idle in eol9a,. i
stead OF employing labor, and 80 Inns i !.
many men are trying to live BY STEALING :
speruiatlDg IN existing values, instead 3
producing other values, so long viii We bav
business duilness, which legislation ~ ],
aggrayate, but canno. possibly remov.
ih.Af was an earthquake at Des Moinf
S'Aaoay morning. That comes Of electine
Democratic Mayor. Dom. do !, /. !. . ]. ~
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