Bozeman avant courier. [volume] (Bozeman, Mont.) 1872-1882, 1874-04-17
THE CURRENCY ISSUE.

THE CURRENCY ISSUE
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Parties will unquestionably Be form
cd on the issues, growing ont Of the
Currency question. It is the most
important now dividing the country.
All other interests are absorbed by it.
It is q struggle between the moneyed
interest and the people. The former
are cndeavoring to control the admin
istraion of public affairs to their own
profit, at the expense Of the labor and
toll Of the whole people. During the
war and since bOndh0lders have had
matters all their own way, and the
legislation Of Congress has been con-
trollcd by the money power. Burdens
have been laid on the shoulders of the
toilcr to fill the Golfers of the rich.
At last the country has been aroused
South. sre united to resist this con.
tinued oppression: Senators Logan,
Morton, and Ferry have been the
champions of an oppressed people,
and they have been ably assisted by
several prominent Southern Senators.
The entire delegation from the East
have fought for the capitalists. The
gentlemen referred to have manfillly
cOntcnded for the real interest Of all
classes, and have triumphcd. Logan
and Morton are practical statesmen,
cmbued with patriotic and generous
sentiments. They have, on this ques-
ton, disrcgarded the behests Of party
and stood by the whole people, and
merit confidence and gratitude for
their noble efforts. They knew and
felt that the country was not prepar-
ell for resumption of specie payments
and that there was not a sufficiency of
currency to meet the demands Of bust
ness. Senator Thurman Of Ohio,
hitherto regarded as friend to the
people, voted against an increase Of
currency, and with his old-fogle no
tons, insisted on hard money as siren
uOusly as Col. Benton did thirty years
ago. Some men never get out Of the
lo.s Of the past.
The increase of the volume of Ma
tional Currency il demanded by every
consideration Of expedien:y. It will
afford relief to all branches of bust
ness. 1t will give activity to trade
and commerce, and tend to relieve the
embarrassment now existing. It will
enable debtors to dispose Of their pro-
ducts and thereby pay their debts.
Stagnation exists in all departments
OF industry. On account Of a scarcity
Of currency in the West there is no
cash market for what the farmer
raises. If the contFactiOnists were to
have their own way, those indebted
would be driven to bankruptcy, and
their effects sold for song to those
who have boarded their money.
The capitalists, through their or
gans in Congress, assert that there is
no necessity for the expansion Of the
currency, and that there is enough
now in circulation for the business Of
the country. Senator Logan met
these declarations on the floor of the
Senate with some facts that scattered
the argument to the winds. We give
an extract from one of his recent
speeches on this point:
Mr.. Logan quoted additional statis-
tics to show that his former estimate |
Of the amount Of money in England,
instead of being too great, was, in |
fact, too small. He charged the con-
tractiOnists with relying wholly upon
q theory not applicable to the state of |
things in our own country, and making
no effort to contradict his facts and
figures. He referred to the speech Of
the Senator from Missouri Mr.. Schurz)
and said that the arguments of that
gentleman against All increase all con-
sisted in ringing changes OH the cry |
of speculation produced by a redund-
ant currency. II tho gentleman (Mr.
Echurz) was correct, 2 redundant cur
rency caused the panic; otherwise his
whole argument had no force or appli-
cation whatever. As England and
France, according to wealth and popu-
latiOn, have a larger amount of money
than we have, then whatever prevents
panics there ought to produce the
Same cdcct here. Tho fniluro vr tie
panic and all the power Of Wall street
% affect the standing Of our currency
showed that the panic did not in any
way result from the character of this
currency. If there was an excess Of
currency at the time the panic came
~, why did the price of gold fall, and
Why did New York bankers and mer-
'hants besiege the President and Sec
etary for more money! If they were
with it, how did it hap
zen that three Western cities absorbetl|
~, OOO, 900 out Of S1J0OO, 600 issued Il
4 1921 They moved Heaven and q
arth when they felt it's wants. but 1
Ow that the, West is in want. thew I
i've her the cold shoulder and oppose | q
er appeal, and the Senator from Mis-. &
Our assisted them. 'fr