, 1874-11-10

that tho poople lind lodged yarous aims I"i, ~ i
~, manas Which they could reclalm when thoy CLOS,
,y d,monty millions pounds sterllng woro lilo groa
II to ho rloe the 1an but tho terrbed.l
inast '.,s! hayo boon hold by IN Infinite nubor
i1alsla,la!s, aid tho mood aud mind Of thoso in
aasaaaals-tho fright and aIarn-is eminentl
dpawse i'}s ,osna ono man ysry quietly gooa
H." Soa ~ h,iy in1ohey ons. Ho hah great reputa
Mhy have yoa done Il ?" Ho hl,akes ha hoa
and looks wiHe. And thon another man WHO In
M naa money iii that bank goes home to Its wlf,
md a.a aayn, DO not like tile shake Of The head
And 30 tho terror and the panlo sprond. uy Thal /
~ ~ otoMont Of criats as mitch a. those i,
tno commercial controa. a great numbe
or houses y, fai1. to got ro1iof, and AZ,
crushed. a Then ban1serr, too, Is brought 10 I'll,
| oad but from this alarm of hiH deposltor
which havo described. Those aro
:, THE srA5Ma OF THE HOUR
~, ~ tho commercial community. But, gentlemen
1e,, 9olore have done hope to show you thst tht
inE community--that these agonos which art
lolk thero hrst como not from oyonts that arc
created in Lombard atroot or iu Wall street, but
elsewhere.
Now, Let us look at
lliK aEcoap sradE or EVENTS.
Alter phnic, aftf|ea crisis, vory strange cir.
oun1statceE como over tho land bright and pros.
poroila undertakings cannot bo carried on ; a
glcae naniber Of WQ1fA that were going on vgor-
e eanly lanEnsal1 Of topped altogether; = num-
Der OF persons who Scrc sofling E0otla sell goods
no more. Tho number Of 'abo ors employed at
handsome wages, aud who wcre jn groat touauf.
can no longer got employment or be- omployeti
ooiy 1t extremely inadequate wagcs. II any
i' poay will road Brnces book on work and nages,
ence tho pauic or crisis OF 1866, nB it was called
made i1 the quantity Of wages that wa8 received
~ the English navy and tho English workmen
al over tho land.
~ NoT ~ gSontIlemen. does not this rather show
only very partial part Of tho fact, aud that
r1lE TRUE THING 10 INVESTIGATE,
sha truo thing to look at aud to explain lis what
haa happened 10 this nation, that months-I
ta po!'eso now 10 America q yoar OF more-af,er
asifculsy; your "orkn,en arc saying labor is
scarce! have mot people in the 1arious towns
through which havo passed., working olasses.
who say. "The labor market is very dull there
,s no demand for our toll thcro is nothing for
us. us TO do. aud wages arc dropping" think.
II TINT Is the fact, II those aro two
parts Of the samo phenomena, two parts Of
t9o samo occurrence and evcnt, that the agony
a. q the BANKERS, and tho Stir IN Lombard aud
elect upon groat nation, with Tho
effect upon ita uageB, aud the effect upon tho
works going On. il ne moan to explain crisis,
these aia the facts wo have got to investigate,
end tho effects IN the banking world are ouly 4
little flourish, aud aro trining compared to tho
other great effects.
NON x II was rory customary amongst bankers
10 talk about "a monetary panic" 4 grand,
sound!ng word that. monetary ''-nonderfully
I 1.;o H., word. The ignonut man aud tho
shot OF these very great oraclos who SAY 1t 10 =
monetary crisis. aud TINT - this Ia ruouetary
,ilsls. why. you cannot be surprised that
amorlca or England arc ia great difficulty" But,
.oAtlemon,
WHAT Is A MONETARY CRISIS?
4 What ta monetary crlsH monetary crisis
Ehe very namo il something Of other b,ta Of
'old OF Of pieceB Of paper. There IL no otnor
'ossiblo definition OF the word money but shat,
1m to DO told that = year aftor thst ti,no the
american laooror ia in great difficulties because
year ago something happened to bits OF paper ?
that an explanation that I can accept, al r.
tonal being, Of great national dopression-ofa q |
reat national paralysis? That great lactorios
houid DO in difficulty that they should not 10 |
nse ID 70 soli thor goods because piocos Of paper
'ere re dealing ia d scientific world, II such =
hypothesis rs that Was presented to tho scientific |
Investigator, ho would brush 1t aside ~ not |
Torth WASTING mlliuto upon it.
Il you say i Is gold III you say It is ahortness
xRlsin Why you in America should bo in great
iificu]ty now,-why, il gold was wanted, we
ave had heapH Of TINA to buy moro but WHEN
4eY have got this gold, arc they richer for It :
re- g @ 5noY notter for it, II America werd to got
% yon suppose. gentlemen, that whom the great
rouoh indemnity Was paid to Germany, and
ome 200 .oo0, 600 or 5o0.ooqoo0 Of English
oundH went to Germany-do you aurpoao Cor
amy WAS thing tho richer / do not think
10Y turned this Goo0,oo0,o6o Or E30O, ,0oo, ,ooo
TO gold watches, md gold chains, md gildcd
amcs dor pictures, and made uBe OF the gold
y ornaments aud for uso, then undoubtedly
ern,any would bo tte richer; hut il tho gold was
lly to bo
EErLoYEp AZ MONEY
md I nm supposing the mouey is to be kept
$40 the country.-of course, mako that by
Gil earth il Germany the richer
+ oil TINT metal Call it gold, caro- not, tho
oEmans asa sot i for nothing We wero to get
and pny fur it with cur property; pay for it
til Woalth.
People tal1 rs IL money was thing that any,
ny could have for nothing. No natlon over
tn gold or silver except by
PAYING EQUAL. GOODS Fon IT.
You aro mover ono ponny richer for getting
It'd. Now ubout thia indemnity. Tho Ger.
nus got all those millions Of coin, hut they
nld only exchange Gorlnan property with it;
~ could not eat that gold; they could not
i
i 1t, ~ have uoen in Egypt, On their
saons. Thoy rear rings upon their
gofs., and ringa upon their toes OF gold.
u they bad q machinery for changing
operty. to dltrcront hands but the property
~ not increased; thoro was nothing in tue con-
nptlon which you could call wealth. II tho
'FMans sent the gold out Of Germany, snd aout
American cotton, aud sent for American !
gar, acnt for English iron. and sent for French
i, ind paid for It with gold and got rid Of tie
ID. tlon, Of COURSE, Ger1nnny gets great )
mbcr OF good things for nothing; but II sho :
cps tho gold inside OF her, what Oh Garth cau :
y call it except pnttng il from one German :
cket into another dermaR pocket. [ApplauBo.1 :
How IL It possible to do anything with gold, !
~, =
SO LONG Az IT REMAINS COIN Z I
itliment for use il you like to have your n
t:a Of gold, il you like to have your tea-ket- I
Of gold, thon tllat ia all article of wealth, an y
lolo Of use you richer for it, but. to keep Il
ID coin, you arc no richer at all. Tho chang
OF property can bo done perfectly nell with e
gold. .Very well, 10 much for the hypotho-
that gold, Or r,loccH Of paper. eau explain tho n
to Of America at tho proAont day. havo not -
RI tn fs