The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1869-10-07

tains a review of the markets for the week.
Tie story is very significant Trade dull
almost stagnant Sales of dry goods, CT
groceries, of manufactures, almost nothing
COLLECTIONS impossible Interest on money
from to Is per cent, and In some cases
10 g per cent Wheat from 5 IS to s %
and very dull. Hay, corn, eats, ruling
low. and Jew SALES, except for local demand.
And IN the same paper of that and teU
proceeding days | saw the failures and as
slgnDents OF bankers, manufacturers, trades
men and lumber merchants-and column
after column filled with the advertisements
OF men and women and children seeking
employment, and the stores which are
empty and for rent. The condition, the
reason and the remedy are. well summoned
up IN one single senteuce in the money
article Of that day: "a shrinkage of val
ues generally has not yet taken place, or at
least values have not been adjusted in their
relation to each other TO that plane on
which business can more briskly and pros
perously. There Is, consequently, some
disposition to tinker with the currency, and
to seek to adjust matters by variations In
the measures Of values. " hlch, translat-
ed into common language, means that
debtors are pressed to the very verge Of
ruin by declining prices and stagnant busi>
| ness, and beg that money may be allowed
to circulate and perform its duty Of effect
ing exchanges and In the same paper |
see the extraordinary statement that the
Treasury Department has official informa
| ton that the merchants and other com
merclal men of the West, owing to the
scarcity, are compelled to take anything
offered to them which represents fractional
values of greenbacks, aud consequently are
forced to receive and pass counterfeit
stamps.
Now, my friends, IS this truthful state
nlent of the condition Of affairs? ] have
taken 1t, almost word for word, from the
Commercial, that no man might say had
coioIed it too highly. | ask you-each one
of you-does this statement accord with
your own observation? Why is it so? Large
crops have rewarded the industry of the
farmer. The benefcence of God has not
failed. The promise Of seed time and har
vest has been fulfilled. We have had neith>
er war nor pestience in our midst Why
should the products of agriculture be SO
low and so slow for sale? They cost as
much blowing, and sowing, and planting,
and reaping, as many hours Of toll, and as
many acres to produce them as last year or
the year before. There are as many mouths
to Ill as many craving appetltcs as then.
| Why is employment so scarce, and why
are the scanty wages Of laborers reduced ?
There are strong arms all round lying Idle
and every element Of growth in our coun
Try is every moment demanding greater
development. Laborers are plenty ;
breadStutis are in abundance ; raw material
! Is ct hand stocks OF goods are full rail
road and rivers and canals are ready to do
all transportions. All the appliconces Of
active business which our modern civiliza-
ton has created or demands lie ready for
instant use. They need but to be joined
and put in motion-and yet they lie unac-
tive, dead and useless, as the parts of an
engine before the machinist has put them
together and the engineer has let on his
steam. Why is this? Enormous taxation
inequality, unjustly disturbed enormous
expenditure unnecessarily and wastefully
made-and both taxation and expenditure
are managed in such wise as to give every
body advantage 70 dead, in active capital,
and to impose their burdens upon active
capital and labor-both arc managed SO as
to advance the interests of the bondholder
and TO depreSS the interests of the business
of the country.
RECEIPTS AND EXPENDITURE.
| have in my hand an official statement
Of the receipts and expenditures of the
Federal Treasury, published in pursuance
Of law, for the thee months ending on the
last day OF June, 1869. 1t shows the re-
ceipts to have been from taxation and sale
OF public lands, $l09, 847,SlS 81, or reduc
ing the amount collected in gold from the
customs ($44, 02l 1874 Al to currency, at
thirty>threc and third per cent. the re-
ceipts for three months were 1924, so, 229
SO, or more than FIVE hundred millions for
the year at the same rate. 1t also shows
that in addition to this enormous amount
from taxation there was realized from loans
$44 952, 422 20, making a total for three
monts for all sources in currency, of one
hundred and sixty nine millions of dol
lars
During the same time the expenditures
are stated for ordinary expenses at 500,
Oil ,02l, or reducing the interest on the
public debt to currency, $75, l6l, 100, and
for payment on account Of principle of the
debt, $40, 288, 708,a total of 1924, $40, $50.
This jugglery about the debt | hardly com
prchend. 1t seems we borrowed forty four
millions, and paid forty nine millions, leav-
ing an actual payment of about five mi!
hons, but in order to effect this payment
there was an excess of revenues over ex>
penditure of forty five millions, and the
Secretary paid premium of one million
three hundred and seventy-four thousand
six hundred and eighty dollars, or more
than twenty five per cent.
EXPENSES OF ARMY AND NAVY.
The army consists of $4,000 men. and
costs $50, 000, 900 year. The navy costs
81, O00,0 900. Why do we need these vast
armamen.s? For what useful purposes are
they kept upi And, if it is necessary to
have many men, why should we have Gen
eral and staff officers sufficient for an army
ten times as great. 1t is said Il do not
vouch for its TRUTH that a Brigadier Gem
eral sits in the ante chamber at the White
House and plays usher to the President
An expenditure of $4,000, 900 for the army
and S., 600, 900 for the navy would be am
pie.
[ said the taxation was enormous. Have
| not proved it 4! | said it was uneouaIy
and unjustly distributed The last official
statement of the value of all property IN
the United States was $4,000, 900, O0O.-