, 1874-02-16

TaritT.tnteroat. wb,ac condition he tnsensib1v
f1cuoribct, IN is anoac} ~ I'm H. IN Tim follow.
usaea t. ~ "I ,,E,' 1to'.o ~. oa": 49, 49,
ing sontcnce' "n,ch u nos osa!y composed:
"Tho story OF our Development ho Bays.
"duripe tho last oiebt yoars. ii tltly told would
road 1tlto n etorv of f,rioptnj imnoination. yet,
a,s 49, 49, l., ~ .,,ot - ~ a,e,,,,to1 nroat
nt, We nto IN 'ne nass q. o"nsru'os etsts
local and nattonal enterprises have peen aErost-
cd or abandoned; tho flros Of forge md furnace
have gone out and tho loom and spindle gro
nttont- Hundroda of t,ouaands of fruoa, and
in1nstrona noon1o ~ aro % ,,nomnlovod and oatinr
tho bitter bread OF CHARITY; anu tho doVern-
mont, alarmed at tho sudden decrease Of its rev.
onuab, abantlons It's homo Of persistent rcductlon
of ,,,o n,l,,ic daht md do,norda tho roatorat,on
ss t. "s' "A@ "''A'A1' 'Ao ''0A
u ~ "af-'a1os'
+ It would be impossible Tor David 4. Wells to
write botter description Of
THE nrsu,ta or rrAn,pF.srrssu1Ar1os.
,rd o,,or-,,oa,~ ,,aw a. x7or,. r.ra, .,,o
,n' nnu osarsooos hnoMh no" !" "olAe' i11a'' .ne
Iarih-intoreHt makcs tho oongro8s, aud THO
/ Congress- builds wall around tho country, by
which au association of priyAte iptoreBts Aro Ir-
su1od profit too inordinhto to be long con-
sontod to. They mako tho most Of their time,
a1d, In order to increase tho market, create OBJ
tecta which shall 1e1uiTo tho uso OF their Yaroa
/ They use the; credit Of the country, which .
million mon tlied' to establish, to aoat bonds
abroad aud ut homo, which .aro nothing moro
railroad. bars, shovc1s, tools, brdgos car-works,
engines, forry-stoamors. ocean- -ahips, house-fac-
totios, and tho innunorublo articles which onter
iato tho oon.trlc!ton and settlement Of t4e ltne
onco, every PUBLIC ta.oslt, oven the h'giost non
orr, arc proatttu,ed to hoep the world morry,
| whi6 tho nuctioneer hhwks tho bonds. mr..
Colfax utakea Ids everlasting famo writing Tor
the New = York Indeneade''t sucll artloos as
nWlll I" eng III, Wll%-lnoanns '' 5airoad ,oa
JOB. nnd ith probabflltes to reimburse tic ncnt-
holders Mr.. Kolloy, WHO is m unusual ass,
ard aMaya flaea 10 tno heieht o. hts ereat t u.
| ho writes 'oHbayB before tue worid to prove
that ho was tho first great cause OF
the JOB III question; Inoy AaVo Inolr consttue
tion-companica and !and.compantes, lease their
own 1ron.,n'lls, establish car-Worka, and actu-
ally pny lroasury- otiiccfs 10 expfoss tno opln-
ION TINT tholf bondB aro Attlo uetter 1nan
Governments, aud had botor be taken IN OK
chauke yo, question their lailroas schen1o no,
doctrine Of Protectjol,,-wloh is tic four olo-
plants at on n which tho bonded tortoise Stands
rllr nY-rhAr.
the .iohbors, hare q refreshing :inconsis; ;ency
Notwithstanding their plentiful speech, which Is
like two rivers flowing contrary ways ont Of the
aan1e snpasn.. !; uio 1 .no} ato sua.'1s yuu
wsns G outrage II Is t1at tno infamous io1e;Gn,
| receive ntorest from us in gold,' drawing blood
from our country :annuoliy. they nre moving
| LnoU,, n,i onrtn ~ .ot1 tho wni,ron A Londs'
i; ~ . !, attan tI.a o't r",s, .au
3! Mn1en ,.3 NY pottol tn.n ooto.'.nunta @ .1 au
nrlng nl61Gr iater9st, 70 every naslon unaGr
lows dolioerate'y turn around and say; A.
though we havo dofaulted our interest, 1t is tho
mseraoic europeans oss,;-thcfooy proving
that theif couc or tnosais has not a gr"t1 q
Clriatlanity III It lot thoy 40 not oVen ,fob
| totcr to pay Paul, but foo Rotor TO pay Lar
apnes. .''- ;!
Thai this Is the position. OF honest men in
lennbyiyanla, os VOL ~ elsoWhere, IL PLAIN from
tic speech Of Washington Townsend. Member
Of congress from tue oia 9ua,or. counties az; az;
Joining. pr'lndeiphta, good old Chester and
Delawnre-and who In 2 Aeou9ltcap, aqd also .
:9ahkef aha lawyer, anu was Ma'g.. Listen TO
dis description OF tue panic ano Its CAUSE:
Msny o. tue wheels ot Industry have ceased to run
great enterpt'scs @ nayo nesn asopnea agraGnare =
"r si ta I rna.aio et ~ ,,, ~ ~ tsis 1i ~ ~
liz nation rnGears 10 Ia naro1Szoa' ~" Nv TSt
wole suffering we u present experience Is Inc result
Of what ia familiarity known ''oyortradlug" We
nay9 IN ao;t every direction Our RAIL-
ley We nae 5uoo, S H!ses % fanIoaa M eonpieIeo n
esii Ne haye oo5 1niea nishot at cost Of oye,
93 zoo ooo.-thu eztsns Of raiIspsd ,uyns ,nors
length Of raisoads than Ia owned BY all tho rest Of tt
world together. We have run rail!oads out on thy
psea iaf s %esGna iG '. oonas @ or ra ama
u0omon. sn 1ess ~ WV ova aron,od tam
oycrywhoro tbas the speculative fancy Of heir pro
beneficial tho stockholders to tho spcou!atora in
town.ses through which they ~erc to pass. This ex
p9nsian o. ~a' iar too rapid TO oe
nea"ns on'' ..,u,. ,.,a .n.,,n,
call 1t "ovortradng " than ANYTHING else; but
WHAT MARES oyEnTnApISo7
II must either DO tue passion OF tno consumer
to nuy more than no WAS wont, or tue conoltlon
OF tho producer to force tho market.
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