The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1874-03-13
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NE 80. vee. t'oa reserve s#ssls III II
which has he~n s.ss.aea Senator tanl
ling u against esranstn. - Il ssnass'
rsnsnn Svnasst himena& Il Nefmans
|. arsin.s irving The wsss mars money
~ /. sraatss cragin u New Hampshire
Senator Ferris II tsan, II arpesea 10
a., sartcase In the eAfreney ~ u Zen.
ster iIamiin II Nnine. and Senator
Merrill of Maine y opposed Il taking
away fsom the east ard giving 10 shs
vest. AL. senator Nhrrill n Vermont
senator buckingham II Connecticut
and Senator srrague n Rhaae lsland
favor currency expansion % meet tho
demands IL tie West, TIE western
members anl southern quite generally
favor al increase, nrlreciasing the Tact
tint tile .uuntr, needs moro money, but
that tho cas-. wishes u keep control VI
IL, ~ M 10 lend ii out ~ the west as
high rates The tptal circulation Sept,
a., ls,3, was S1si. III, ia,, and the
general disposition seems 10 be to In
crease il t. $500. 200. 900.
| II the currency circulation of he country
was equal to wha, il Il In Rhode Island
per capita. the aggregate would he Tor
thu United States. S.,n.3. Wu. 600.
/ II on the coa,raryi' was as in Iowa the
aggregate would be Saio.n00, on0. II
the circulation per capita Il the New
England States we're the basis ID, aggre.
gate Would 10 St, $50. "A, 900, while
II the circulation ii based upon the per
capita III the Western states tllc argrc-
gate would bc Sas3. SOU, ouo. ar nearly
| VI " the prcscn. currency circulation,
Western men aud eastern ones tou
should sean these figures closely and
study tho lesson they teach. II eastern
men can spare no portion cf tho i'm
mcnso circulation there, will thcy In
form ~ how the immense crops 81 TIN
west arc to bc handled without 6nancia
embarrassment. Aud IL the business q
Now England il NJ, jcorarlisel With .
capita II currency II Ssl, '@"foo vii
rome Snloa II the cast with the hare
money views IL L,carguS toll IN vii,
the Western States should ho Unite,
II 3d. eeIo 10 each individually
lilo who wants high rates Il intcres
, for tho lenler and lvw wages for labe'
J and cheap rates for western product.
. should favur the schemes 81 tho hart
, money mon and contraeliunists Of tn
east. Tho prosperity u nation !
marked highest when its laborinv poo
pic u all grades and classes are employ
. cd aud relnunera.ea promptly for tl,ei
labor. Scarcity d money causes IN
! ability to Pay, inability 70 pay for IL
! Dor causes II to 10 unemployed, thi
) produces i,llcncss and brings In il trail
!. ,lisaiIection. want. riot. aud crl,nc; 70
idl. hands always ind soi,,c mischief i
, do.
i Besides no country TINT II - largel.
i debtor To foreign countric. nv II our
. 1T this time, can establish specie pay
|, ,nents pcrnanantly because these ioreig
/ held claims ran n, any time NJ ID
1 option u tho foreigner drain both th
4 banks and tho public Treasury. cau'
! Ing derangmcnt 10 the currency. con
yulsions ii all productive industries
,lemoraIix,ng tho industrious aud can'
!. inv tlcm u bc burden upon derrcAse
i productions. instead III adding wealth
= thus completing the rauic TINT orig
mated upon this weak lictlon, u speei
payment. lii lsa1 tho drain u onl
: soscn millions u gill. precip'.ated 10
u suspension ri the specie paying bank
!. of tho country cngaphiny 10 the whif
= pool Vi Laukrupsc, tho .sadins banI
: inv institutions md business ,aea q IL
Il west, Nm we'll IN tho weakest u sls,I
J aud robbing thu pp'r i tho eeanty Pl'
TANGO boarded up tur the long w
:. dreury winter that followed upon ~
! heels of that financial disaster. !
j l>6l. tho people had tho s,-eallcd co'l
= vurtiLlc currunc, rcascnablo IN gol
y aud silver. yet mo,r Ian II VI 81
!. currency IN the hands 4 tho pooplo VA
never redeemed because there WAS y
Rold and silver for their redemption
/. They wore powrrlcss u stay paul
!. because they were tho representation \
Il q fiction without existence. Not =
i with eracnbscks. Wherever they hay
i been applied u . panic, IN uaaasltie
! equal - this omerscne, tiny have ~