The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-11-21

john PauI's Theory About The Panic
For an explanation OF the present
trouble l do not think that It is ueces-
sary to look very tar. Ifyou hsVe ever
had hold Of young and growing dog,
YOU must have noticed that nature keeps
the skin good deal bigger than the
dog. You can take the slack o! the
skin ir your hands, put two or three
reefs in it ifyou like, without PinchiOg
the dog at al. The matter with US ID
simply that our dog has grown too big
lor his skin-aiter stretching day after
day ill it cot 100 be as thin as tissue
paper it has faally burs,ed. For several
years the deg has been hide bound.
But don't think he's dead, even now.
Oar present currency wss created aud
the amount fixed during the war, when
il had only to float the North; since, II
has had to AVID the South as wSl
And while the amount N ciredtaties
hiss been lessfued by the destruction OF
notes by fire, food, and other accidents
"A lessenlng which must amount 10
five or six per cent. o. the total,
though l do not remember to have
heard this alluded TO even by those who
complain OF contraction as well as by
the withdrawal OF the legal tender cer'
tifcates, the value which this currency
WAS meant TO represent have doubled
and threbIed. THIS is precisely as II,
having launched 2 =hip--Or scow, il you
please-we let quantity OF water into
the canal where she lay sufficient TO
to float this ship or scow, aud then shut
the gates against the almittance OF any
urther floating med um, proceeding to
load the vessel down till her bottom
settles in the mui. Plainly one OF two
things must De done-either let more
water into the capsl-thGt is, give more
currency. or else dump the cargo and
bring our ship back TO drawing the
same water she did in the fret place.
The cargo being really OF vaIue-that
is to say, values having really iuCEeas-
ed, not ouly in this Cour,rg, but the
world oycr-more water would seem the
easier way cut Of the dilemma. ] don't
assume 10 teach my grandmother how
to suck eggs, but that Is how It looks to
me. Had we gold and silver circula"
ton, the evil would right itself; money
would flow in from at other nations,
bnt this relief is denied by the exciting
nature OF things, the currency Of the
rest oithe world be ug merely merchan-
disc to W, and in reality, only going to
load our ships down deeper. Figure it
what way you will, does it not amount
10 this IN the enI-les5 freight or more
water2
Rrasoain. abstract'y indeed, there
shoIlh never be a pauic on a paper ba'
sic. Ole sells his sccurilies-whrCh
are uaper-ihe goo ones paying liter
est, and what doc- be get2 Simply pa.
per which pays uOiGlcyc-t 81 al. Iav-
NJ, auer much l.oubic, succeeded in
getting ri y: 80 etgUt PER cent. stock
or bond a. frcm fiy to eighty per cent
on the da,iar,a q =, an awkward hun
de o gresubacka instead, which carry
no per ccoi wis. are you 10 90 WHY
them? Put them in q bank, and the
chances are that the directors wi
-lecu,a;s with some, AID the
, .saicr c.e.r out with what
) LETT; lrud them on bOnl an
aud you fnd yourself en-
1srk,d the In the real es,a'" n1-l.
2e-s &gvsus. your wish, take .lcm
nom. d u ,aw them up il a. OIL .ck-
r., And yc1r vile tlrows i ou' OF Tie.
s.n los, O. ira !e- j; oil to ta"G "...
'o- 2 plaster ol'psrI- Ajax or " pre-. .-.
IAN Ma allen. Tue-r', ro.r.r, F.. D..
IL you really want to rcru5e ,".. ,-,'u
got something under yoI other 'aau 20
contract the smallpox 10 The me. con
yenica. city car, 90 ! then 1T d.. an
.Du- pocket book. JouS PAr.