Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1873-10-31
NUMBER s. ,

I .5s q a.Aa
| paid gold for greenbacks, instead of in
this indirect way, they wouldIbe worth
! gold dollar for each paper. one, instead of
from ten to thirteen per cent. less. fsPrac-
| tically, there is from ten to thirteen per
cent? of doubt about the future contingen-
cies of human life, between the. average
citizen and his Government, in conse-
quence ef this slow way, o! paying gold.
Some conclusions about the recent
panic, on the basis of these doctrines, are
these: EE@aE fgHg0q Rnf
1t is a curious fact that paper money
was boarded during the panic, instead of
specie, which has usually been boarded at
such times. This shows how. thoroughly
our paper money is accepted in lieu of
specie Why not?. 1t is the nearest we
can get to specie. Wackford Squeers,
| his father said, was s'next door bat one to a
Rcherubim.'' Greenbacks &are aert door
bat one to gold. AAN0A4 @
There is not far from money enough for
all the honest business in the country
Those men. who wish not to give value for
value in an honest business manner, but
only to get away other peoples money for
nothing, that is, the stock gamblers and
corner-makers, and others who trade in
what they do not own those and such
others want more paper money af1oat
Naturally enough; to put out more paper
money is to make change in values. 1t
lis. by taking advantage of changes in val
ues that these men live. IF nc changes
happen, they start a, lie to make. one.
There are also, as the reader sees,
men of incorruptible honor, who
want more paper money But their
demands are limited to the. claim
that the currency shall keep, exact pace
with the business oftthe- country. That
is every additional soul wants his ten dol
lars. The increase of ease and quickness
of communication, however, enables
less total amount of currency to do our
iexchanging;s that is, it tends to-diminish
somewhat the. average of ten dollars; how
much, is not known. sr~ .r-.-..-v
- The panic of September was caused
more by loss of confidence than by
any real business misfortune. What real
business misfortune there was lat irst)
befeH enterprises and persons entirely too
speculative in character. Because the
genuine business interests Of the country
are too closely mixed with the stock
gambling and specializing interests, they
suffered also. ss.s ...,. .....s-.
The real preventive against other such
'panics will be found-so far as humanity
can furnlsh1t-ln an elevation OF the av-
erage tone OF, business honor and honesty.
1t is theft to get value from another
man without rendering value for it.
1t is gambling to bet on the future val
ues of other peoples property. .p
1t is conspiracy and lying to set afoat
false stories and get up operations for the
purpose of diminishing the value of other
peoples property. ,.s,......-.'...... a,
Let these plain truths be felt; let theft,
gambling, conspiracy and lying be turned
out of public places like the New York
Stock Exchange and the Chicago grain
market and driven into even such an i'm
perfect secrecy as that of area thefts, faro
gambling, gam e. blsaeekmailing b sel conspiracies, and
will be greatly lessened in number ana ana
and gambling, if perpetrated in the Stock
Exchange, are actually affirmed to be
honest by law. aHl 2 .1'L'sT sa.