, 1874-05-09
; AN EMBARRAE8MENT OF FACTS,

Ine dltncnltleB OF aQVccatlnB lnuatl0n IN q daily
paper In Chicago have won tho attention aud
enlisted the sympathy Of the public Never WAS
labor 80 bravaly undertaken or 40 perseyeringly
adhered to in tho face OF facts that have been
absolutely crushing. The paper which was
profesaedly independent in nothing" Ind not
even the ordinary escape Of tho politician by
falling bohind tho "party." The imitation OF
tho currency was advocated because the country
wanted money to move tho crops. and then,
in smother part OF the paper, WAS tho astound-
Ing revelation that the crops had been moving
au winter without the slightest interruption,
more rapidly, in fact, than usual. An imitation
Of tho currency Was demanded because tho
people In tho country did not hayo money
enough to purchase the articles OF common NO
cessty, and we're reduced to the old syatem
of barter; whoreupon, in another part
Of the same paper, WAS recorded the fact that
mover Waa there such an amount OF money at
lhis season in tho interior, aud never we're the
producers 50 full-haadod or so able to make their
purchases In cash. Bill the Initiation cry had to
be kept up. Seven mon wero found In Chicago
who wanted IN imitation Of the currency to ona-
BILE the banks to lend money to those having &c.
curity, and simultaneously tho fact had to be
cago that was not overtIowing with money, ready
to ho loaned to anybody ablo to give security.
Then 1t was urged that tho Republican party OF
Illinois demanded an imitation OF tho currency,
aud, as II in answor to this, the President and
hiB Cabinet, representing that parity sons to Con-
gress the now memorable declaration that the
Republican party vas pledged to speedy return
to apecio payments, and that, representing TINT
party, the President could not approve Of any
legislation which even seemingly expanded the
volume OF paper money.
During all this controversy, the editorial page
has glistened with tho rhetoric Of the expausion-
lst, while the page Of facial has been loaded down
with the evidences Of tho abundance Of money,
tho facility OF obtaining loans, and the succosa-
ful progress Of all substantial business. This
operation Of daily publishing tho Widest de-
mands for more currency to meet the indispen-
sable Wauts Of buniness this daily presentation
Of tue loss, destruction, and ruin consequent
upon the scarcity OF currency and tho inability
to borrow, aud, at tho same time, publishing
faots directly oontradicting al! this, has been
example OF journalism under ditficulties 1t no
ordinary character. Theso conflicting state-
mentB reached climax the othor day, when In
the rhetoric column 1t WAS declared that tho veto
did not represent the sentiments Of the people.
who personally know there was no money to DO
obtainel from tho banks, because thera was not
enough currency In circulation while, In tho
fact column, 1t was stated that there was auch
plethora Of currency in Ohicago that the banks
had runners in the streets begging people to bor-
TOW, aud we're aotually forcing 1t on thotr cus-
toners At per cont per annum
That Ia successful journalism. ANY man Of
ordinary intelligence can publish brilliant edi-
torlal page With column Of facts to sustain his
assertions, but 1t requires genius OF tho hIghost
order to publish tho facta aud maintain, day
after dsy, tue theory. OF which these facts aro
direct refutation. To Chicago belongs whatever
credit IN due for this successful performance
which Ia equal to tho circus feat OF riding two
horses at tho same timo, each horse going IN \
contrary direction.