The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-10-25

ana OF national wealth. Is this mscter of "a
sity or does Il grow out q yofr ruler ana out Of
The follies against which they were warnad az the
outset by myself and others wnr our o1t,cia duties
called upna ds to protest sganst them why to-
aay, ~ Your competition with commercial cities,
no Your growing Oses OF the Vest thus tranmelled
oy want OF circulating msdlum, thus loaded
down by an interest that no business community
can pay and prosper In the long Tun2 When look
over statements / ind that more Than ffty-seven
millions OF this currency was gwen to the State OF
Massachusetts, and less than ten millions to the State
OF Illinois. Yet you have twice the population OF
Massachusetts,. Yet that State needs but small
amount while yours requires more currency than
any other State In the Union. II determinations
country count demanded they should be in favor Of
the agricultural States. II distribution had been
made In proportion to the population you would
and mass about ten adjoining states-wisconsin,
Michigan, Iowa and others-wOcld also have much
larger ,, than they get now In fact
gan. Wisconsin, Iowa. Minnesota, Kansas,
Missouri, Nevada, Nebraska, Oregon, with the
some millions less bank circulation than the single
State OF Massachusetts,. You would have gained,
too, In another respect As these States had at the
up themselves II iT had been allotted to them, capt.
talsts Of the East would hardly have brought their
eP hy y 5 g IN
capital Of the West wond have made great change
IN your affairs. Interest would not at
rates. A vast amount o, money would
have been permanently used to promote your
enterprises and prosperity. We at the East should
have been saved from great moral and business
evils while you are getting forward your crops.
This currency forced INTO this section by the high
rate OF interest paid for It. During the winter II &C
cummulates In vast volumes in the great cities OF the
East There is no want OF 1t there for any fair pur
poses. II those banks were here this money could
lent for useful objects; but those who had 1t In,
anxious to get some interest," invite speculative
movements in stocks or in produce, which c6
mOr0la. Not unIre0uentlV UrOVlslOl6 which have
been gathered In the storehouses Of cities are
bought up; the price of food s raised against our
labOrers expectation Ia stopped and great misery
often caused In the houses Of those who live by daily
toll. He who Will carefully look into the evils grow
ing out Of the violence done to all wise statesmen,
Ship will see that 1t has been curse alike TO the
East and the West When you 60 to your local
banker to get bills to pay up products Of your State
that section, then to charge you further usury 80
that you pay interest to two bankers therefore II
as n 81 s0 %
terest to Massachusetts, upon what should be its
own money. The West are tributary to the East for
The men in power who Do this thing are your own
representative who consented 20 the law now ask
your approval Of their conduct II IT is good thing
to have more than seventy dollars OF currency TO
each person IN Rhode Island, why is It not good
thing TO have an equal volume in your own State
dollars to each citizen while Illinois has but six Wis
consn and Michigan but three d0llarss Fellow-citt
zens-There 10 another drawback to your prosperity.
l mean the cost OF transportation and the ex-
istiAg method Of taxation. The trouble with the
farmer OF the West is always this-can he
raise grain here, send 1t to the seaboard, have 1t
carried across the ocean and then undersen the
farmers Of Europef This question mainly turns
upon the cost Of transportation. ] find that when
buy barrel Of western nour at my own home, the
farmer who owns land, tills the SOIL, rBises wheat
and nts 1t FOR market comes very far short from
getting all pay Prosperity West turns In a great
degree by tins matter OF cheapening transportation.
The views hold upon this subject are not those
which bring forward now for the first time,
when I am candidate for your votes,
Here our report breaks OF.