The daily Argus. (Rock Island, Ill.) 1873-1877, 1874-10-31

! currency eau only llken IL 10 the iolS
OF man whose house is burning over hi.
head consuming all his substance, aud who
thinks he can put it out, and who actually
attempts to put it out, by pouring on 1t
fluid which only increase the fury OF the
flames.
THE DUTY OF THE NATION.
1t matters little what farmers may do,
what manufacturers may use, what KIND
OF farms they may have, what abundant
crops they may raise, what blessings OF
| health and sunshine and early and later
rain may come unto them, there is no
real prosperity possible for the agricul-
turalists of our country until we have
got money again in circulation, and until
we have driven out those promises to pay
, by which the Government is dishonered
every time it issues them, But this ire
deemable currency presses upon the man
utacturing interests, just as it does upon
those of the farmer Our manufacturers,
notwithstanding our great tariff, complain
of hard times, and / think they are likely
to be harder before they are easier; but
the hardest pressure upon the manufac-
turer, like that upon the farmer, and upon
our currency. have already shown that
gold is cheaper than other things in our
market, and therefore gold is taken from
us and exported elswhere. In one of Mr.
Weiss reports he mentions that in 1860
81 900 in gold would buy in the United
States | 1 dozen cane seated chairs. The
same sum will buy the same quantity now
in Europe, but will buy only l02 dozen in
the United States. What is the result !?
We have of course ceased to export any of
these products Foreigners who want
cane seated chairs will buy them in Europe,
because they can get more there for the
same money; and the same is true OF al
most all our manufactured goods. We ex-
port now more sewing machines, more ag-
ricultural implements, more refined sugar
and more musical instruments. than we did
before the war but of the great body OF
Americn manufactures we exported vastly
more in 1860 than we do now. The value
of our exports of cotton goods has gone
down from nearly 81 100000 IN gold IN
1860 to less than $4,000 in paper in
1873. If our cotton manufacturers, who
are Just now considering what they shall
do with their overplus stock in market, only
had the foreign market opened to them to-
day as it was in 1860, they would not need
to enter into combinations to stop produc
ton, as we see them trying TO do. And
why should we not have the market OF the
world open to us day as it was in 1850 :?
TIE world is using more cotton goods now
than it was then, but it gets them OF Eng
land, and not of us. England exported
GO per cent more cotton IN 1873 than she
did in 1860. Our tariff has doubtless had
something to do with this, but the great
cause is our currency. And the same is
true of our other great manufacturers.
Boots and shoes are our largest mnnutac-
turing interest, but we hardly export more
than half the boots and shoes which we
did in 1861. Manufacturers of copper,
brass, and other metals, wooden goods and
so on-going through the whole list with
the single exception | have noted-fnd
the markets of the world all closed against
them. Our manufacturers are cursed
with this currency,
Having spoken of its evil effects upon
professional men and all who labor, he in
quired. in conclusion, as to the duty of
the Government in this crisis. One OF four
courses must be taken l. The stand
still policy advocated by Mr. Boutwell,,
which he showed to be impossible; 2.
Further expansion, which he showed would
lead Immediately to (3) reputation. 4.
Therefore the only honest, the only wise
course worthy of us as a nation is con-
traction of our currency.