The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1874-04-11
STAGNATION.

This is the cry from every quarter FRO
ducc brings good price, money IS pieh'y
i"Ioons on real estate are easily made" says
the Chicago Tribu.e;; "aGents Of eastern
capi,alists and note brokers find nothlng 10
:do;" yet there is no business. Reai estate II
excessively dull, rents low, merchants report
, no activity, and all manufacturing ana lhous'
trial enterprise is stagnant. Inc western
, railroad mill association met at Columbus
Ohio, on Wednesday, representing 81 iron
rail manufacturing establishments weston inc
mountains. About half of thcm IKE the
, works at Joliet, are idle and without ORDERS
and the entire 81, comprising all west OF
Pittsburg will stop in three months unless
business revives. Never, in the last 30
wears, has the business been SO dull II
was also stated at the meeting, that the re
GENTS of western railroads during the pas'
month have fallen off more than % per cent
below those Of the corresponding mon'i Oh
last year, and very few companies are oTocr-
ing rails for any purpose.
Thus with the bank Golfers everywhere iull
to repletion-two hundred millions Oh cur
rencv idle in New York, Philadelphia ana
BOSTON. and every capitalist anxious to place
his money at fair interest withno customer
the revival OF trade and business with the
returning spring, SO confidently promised Us,
does no. come. Why is this 500 What hid
den, unaccountable spell has suddenly para
lived the active brain and iron sinews OF our
great commercial and manufacturing indus
tries?
The answer is in Il single word, Congress. "
The session has already lasted over four
months, vet not the shrewdest or .sharpest
Bohemian or the most industrious and dclv
inr of all its innumerable investigating com. !
nittees," has yet been able to discover the
financial plan of the secretary Of the treasury |
" either house Of congress. Surely, after
nearly 10 years Of profound peace, with
buudant harvests, general health, unbOundcd
would seem that some plan of relief could be
evlsed from thelittle furry that occurred
line months ago in our finances.
One party stand up and say, in the midst Of
his plethora Of currency that the great
,anacea is to be found in yet more paper cur
ency; while another party rs stoutly insist
md demonstrate that irredccmable promises |
0 pay do not increase the national wealth, |
nd that issuing paper dollars, redeemable
My in paper promises, is a fraud.
But, Eye gods! is this time to debate"
'hen the people in the midst of unparalleled
bundance are starving? 1t is, after all, not
'hether we are to have few million more or
,ss greenbacks that constitute the great thing
ceded, but it is decision-a settled policy
is financial uncertainty and distrust, not a
,arcity ofmoney that is running the country.
ct congress settle the question in way that
will stay scttlcd-issue SO much paper, with
I assurance that there the issue will stop;
provide for Il gradual return to specie pay
ent, in Il way TO settle that as the fixed |
olicy Of the goycrnment-any way-but
i've Us n decision. The signal for business
revive will be given when congress settles
5 financial policy, and not day sooner