Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1873-11-20
congress and the Currency.

the circulating medium business oil
over the country seems to be crippled
and lauguishing for the lack of a suffi-
ciency of money to prosecute the
business demands of the country.
Men are thrown out of employ ment
from many of the large manufacturing
establishments, because manufacturers
/. cannot frd a ready cash market for
wears. and farmers cannot hha
market for their produce at remunera
tive pIices. because Of the scarcity OF
money. This is the cry that comes up
from all quarters; all branches OF
business and trades feel the pressure,
That there is just as much money and |
that tie bill holder is just as secure i'll
the value of the bank bills or green
backs he may fortunately possess, as
he was, and. that there is as many of
them somewhere as there was before
the great inancial scare, no ono doubts.
And as to its whereabouts, is mys-
terry, unless we conclude it is held in
bank vaults or private safes, by its
owners waiting for '.sonething TO
turn up
A crisis has come upon the business
an fnancial Interest of the whole
country, which in our view, has its
origin in a reckless and protracted
system of over-tTading, or perhaps
from the want of a proper system OF
trade Too many of our business
men, both great and small, have been
taking too heavy risks on credit sys
TEN; too many railroad bonds have
been negotiated upon promises to
pay, and the result is when pay =daY
comes for all this vast amount Of
indebtedness, the ordinary amount Of
currency in the country is ina0cquate
to meet the demands III a time of an
extraordinary crisis like the present
And when one heavy operator after
another begins to go to the wall, the
whole business community and money
holders take fright, and the money
Fountains are at once as it were, dried
up, and business must -languish, and
all articles OF commerce and trade mus
come down in price corresponding
with. the circulating volume Of curren
cy. if sold at all, or it must lie in the
hands Of producers, as in the case o
the money holders, and "wait foi
something to turn up"
Now what is the remedy for this
state of things. Shrewd business
men sny, the Government has tho
power to afford relief, and Congress
will be called upon when ii mt cts III
December, to put forth its arm and
extend the aid in its power, consisten
with the true objects of Government
This kind of aid is not demanded, es
pecially for the benefit or that class 0
business, operators who have reckless
ly and wildly plunged themselves i
debt beyond possibility of redemr
ton, but in consequence Of these will
speculations and their indebtedness
thus acquired, the whole country
and aexery department of business
and every man from the day lahore
to the mot extensive busine'
operator, is embarrassed and o
pressed. The relief, therefore, til
will be asked, and expected from Co
gressional action is not Of priva
or of a sectional, but Of a Nation
character, and will be urged upon til
principle. ''.a.l'".
1t is urged however, by some, tn
these debts must be paid sometime al
that If the demand tor an increas
volume of currency is granted at IL
time, the payments of debts viii
must be made sometime, will only
deferred, and that after. all, cri!
must, come that will produce the sar
results we are cnow experiencing
is true that the Indebtedness must
cleared up, paid off, or otherwise
gally adjusted; what is not adjust
under the bankrupt law, or by col
promise wilbhave to be met dollar
dollar; but will not the smaller debt
ClaSoS GuS uldooCo5 OS bSNtCA 0bAO
meet their liabilities. If the Cover
ment ehouId sep in and give its aid
filing up the vacuum in the moneta
avenues of business, equal only to
emergencies Of the legitimate husinc
operations of the country? This
seems to us may safely be done, a
this, the public viii demand of Ct
greSs as one of their first acts at TIL
approaching session The people {
no aid from the Government to i
the Indebtedness Of wild and 'visit
ary spectators in Railroad bonds, |
the. Indebtedness Of men who HI
over-traded. but the rapid~incfeaso
population in the u s. and the con
quent increase Of business, espeeia
I'm the West and South, since the
5ustment of,ouf late domestic .unple
antanss,troqulres more money than
former years
If CqDgresa. should d,fimmediately
its ses Ion ia tDeeembef, act fdrofa
to the donjaaasa5f tho people on t
quustior. every. business man, mech
ic, and every farmer iN the coun
will braatTa easieY and -businpss n