The States and Union. [volume] (Ashland, Ohio) 1868-1872, 1871-02-08
The Cause Of the Present Staqnatlon
l. in Business.

We are at present suffering from n
depression in almost every branch of
trade and industry. The evil is not
local, but is felt from one end of the
country to the other; from Pcnobscoi
bay to Puget's sound; from the lakes
on the north to the scaboard cities OF
the south. In many places shops are
silent. and counting-roo,ns deserted,
while the streets are flle1 with
m"n whose necessities urge them to
work, but who are unable to find any
thing for tn ,ir willing han,ls to do
All the currents of trade are stagnant
or parlly So, AMI there is Il genera
comi llint Of hard times all over thu
country.
Some persons find it diff ;ult to &C
count for this condition of things, in
view of the fact that during 1870 we
were not visited either with pestilenc,
or meagre harvests, but on the Other
hand were made the recipients O
abundant harvests and exccllen
health. For these blessings, of cours,
we have God only to thank. Blu
who are we to hold responsible for tn;
present depression Of trldc and the
p~rostration of our most important in.
dustries is a grave question, which
many find it very hard to answer.
\ few radical newspapers have
wasted great quantii les of printers
ink in trying to explain this matter tc
the satisfaction of their readers bu
none that We have yet seen have hac
the honesty to lay bare the real
cause. Possibly the radical editor:
we have alluded to are ignorant OF the
real cause themselves, and therefore
their %reticence, far from being crimi
nal, is only lamen'ab!e.
We have no desire to startle oul
readers by a declaration to the effec'
that, to Mr.. Boutwelr's financial policy
rather than to any other source, car
be attributed that which our business
men now so loudly complain of. buI
it is u fact tvertheless. At present
Mr.. Boutwell, now holds in the
public pouch something in the
neighborhood of one hundred million.
of dollars. even after dcducting the
value OF the outstanding coin certiii.
Gates, and not counting the accrued
interest OF the public debt at all
Now here we find the king OF the ma
tional treasury sitting upon the lid OF
the governments e~xchequcr wherein
lies idle this enormous sum. Were
this money put into circulation as ii
should be, it would stir up fresh life
i'm the business world; would loosen
the grip of the money lender upon
the merchant and manufacturer
would furnish the active with the fuel
for new enterprises, and would, bet
ter than all, give enough employment
to thousands OF poor men who are
now unemployed. This stagnation is
then the natural result of Mr.. Bout
wells policy. While this man plays
1.-THE miser and boards mp every dollar
that he and his political associates
can draw from the people, the latter
are idle, l~istless. and respondent
| WHY should there not be cries of dull
ness. when the money of the people
lies unused in the vaults of the treas
ury. As there should be a free cir,
culation of money among the masses,
in order that the health of the country
may be maintained, and its prosperity
continued. BESIDES the other evils
inflicted upon US by this unsoun
policy, there is another; this money
draws no interest it benefits no n
for all practical purposes it might as
we'll be still hid in the gulches of Cal
i~fornia, or the rocks of Nevada. W.
think Mr.. Boutwell, would find SOM
difficulty in satisfactorily explaining
to tEe people his present policy, ant
yet he, the v of the people, i
bound to render an account to thu
country for his stewardship.
We think the time has come for /:
change in the financial management
of the country. There is not enougl
money afioat to carry on its business
This condition of affairs cannot las
much longer without producing tn,
most serious results. Unless Il radi
cal change is made at once-whicl
change must involve either Boutwell,
displacement or the adoption of
new and more liberal policy by him
the country will feel the stings of pow
erty and the hundred woes which
grow out of commercial prostratiol
to even a g cater extent than it ha
thus far eXperienced.-Me Paper.