The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1874-10-09
THE FINANCIAL ISSUES.
spssch OF the Hon, Geo. III. Pendleton, NJ
Lima, Ohio. October 8, 1874.

Duriug the war the currency had been
increased by greenbacks. bank notes,
and the various issues Of the Government
which served as circulation. at least six
teen hundred millions. Gold had at one
,inc reached premium Of 25o per cent.
This currency was confined TO the North
alone. During the war the profits, or
apparent profits. If Won prefer it, were
enormous. Business, speculation, enter
rriscs. purchases, We're adjusted to the
scale Of fash times.
The policy OF MeCulloch was adopted
az the system Of the Republican Admin
irtrstios,. Contractisn. actual and rapid,
was emtorccd' .In eight years the cur
rency has been contracted larsciy more
than eight hundred millions. Debts
contracted 0n tho lrFgn ctigiaHcy and
rising prices have been paid on de-
creasing rnrrrrrv and \ saiiing ntga< x.
This haa eaten un grofts Bmsincss has
been done Al a ic.s; and this, too. has
entcn np former profits. The habits VI
lite and OF business have been accom-
inaiatal to."good times" and these. too,
have calnr, up accumulations. Many
lu'sncbes of business aud all enterprise
have been checked. and the machinery
.nd houses standing idle have proven a
dead loss of principal invested.
IN the meatimc more than $3.7O0O0D.-
900 OF taxes have been collected; more
shau s5oOUOo.UJ0 are alleged TO have
been paid on account of the principal ~
ahc lua,ic iebt, more than 81 100, 600, :
oN1 pt rn!i On account of interest.
t,cntlcmer. the couatry was exhaust
ca .ho lift blood OF its trade and en-
orgy lan been drained away. its pro-
GueiiVc energies had been weakened by
The contraction, and yet these enormous
drafts bad been made upon IFS resources
ald ircngih, and they had been such,
bet ,t TIE risk almost OF life and so II
happened .hat when Jay Cooke Il Co
iaHct this whole system, based solely on
All un.uOstaatia and false credit fell
Instantly 10 pieces.
Gentlemen. this IL no marvel. Apply
chs process to yourselves. III you buy
40 hiu'l price aud sell At a small one
If your income diminishes as your debts
Increase; ii you are sick and feeble and
employ but half your energy when your
business demands the whole and, above
all II you live on your principal, sooner
or later will you not fail Hear, hear
Nor Is the remedy mystery! lfyot
had debtor, honest, vigorous, industri
Gus, Who had we'll stocked farm o
fcrtil. acres, q large and well appointed
iactory, a store well filled with assorted
goods, who had become embarrassed b,
Overtading, or perhaps, by ill-judgec
purchases and large Indebtedness, would
you squeeze him out OF all his none,
on lis first note to you, so that he mus
leave his tields unplowed. his factor,
idle, his store closed, and must himsel
sit inactive and paralyzed, or would YOU
hv lorbearauce, or even by aid II neces
sary, stimulate all his energy and indus
try 10 cultivate his farm to the utmost
10 run his factory to its nj
most capacity, to sell all the good
he had.
Apply the rule Of common sense il
daily life 70 public affairs, and YOU soly
this subject OF finance.
The whole discussion Of this subjec
by the Republican press and speakers
uncandid IL not dishonest. We are re
presented ms rcpudstionists; as in favo
Of immediate, frequent and unlimite
issues Of paper money.
speak for myself alone. Its platforr
speaks for the Democratic party. Blu
I believe interpret its opinions an
platform correctly when say that W
ase in favor Of coin ms the basis of ou
currency, and desire return to speci
payments a. early as consistent with IN
demands of business and industry
Applause.] We are not now and reve
have been In favor OF unlimited issue
Of grcenbacks Or bank notcs we al