The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-09-14
THE True CAUSE or our PTYAN-
CIAL EHBiRR1sSAE NI,
Why Industry nnd Business arc ktaguant-
The Oniy Real Remedy.

constant reader OF THE Sun. and admire tho
high ana elevated tone in politics az we'll as IN
moral manifested IN It's columns. It makes no
com; r0mse with thieves and rascas, whether
found in hi ,h oncid position, or in the pulpit.
Ncr, compliment you do not need nos want, but
d. 40 more TIA n justice to rftf suS when l say
1t ia most admirably conducted in the cause Of
truth. Justice, and 8 uud morality.
Yol are sound on uIes lions OF industry, COM
merce, finance, and the currency; and although
you do not approve Of everything done by he
Dem ocraiic party, to which belong, you have
the common sense to sec that the FIST thing
requisite to the rest ration of the country from
the degradation and danger into which il has
been PLUNGED by the Republican party, f. to goy
rid of shat plr;y and the corr opt and prongatc
Admlulstratil II which IL sastains; and that the
great ngent 81 such contamination must be
the D mocratic party. with all the ahort-com-
ines which you think you perceive in It's leaders
and policy.
have likel the course OF TIE SuN upon
finance, currency, commerce, taxation, and cx-
pcndit ire, aud the causes OF The present .t1gu3-
tion ia business, and havo sener - concurred
In the views oNpre3ssd in its columns on those
and k.uGrcd TOPICS But permit mc to say that,
ia my Judgment, it. las not sufficiently dwclt
up IN aud explained tho real and profound
causes OF the present industrial, commercial,
uud financial troubles of the county. / think
they lie deeper than most people Imagine, and
ate more permanent in their inn fence than amy
mere question Of finance aud currency.
In "a late ar.iclo ON "The Autumn Outlook
for Bu-ilcs-,' YOU seen 30 think that our
present suncriHls are In considerable
dearee occdsioned by want OF cona-
dence. Bat, in my belief, the grca, cause Of
tho present distresscs of the country IL to bc
found IN The poverty oj the people and VI the
country. People and country are, however,
synonymous terms. The great civil war through
which we have recently passed caused the de-
struction Of Sl0O00DOO0 Of wealth which had
been accumulate In both of the lately hostile
sections Of the Union. This wealth was tho
product OF labor through long years Of assidu-
Gus industry. Il constituted at least one-thlrd
part of the accumulated wealth OF the republi :.
II was destroyed AMI stcl In the war, and
can be reproduced only by many years Of patient
Ell Tort. 1t has ceased to be productive source OF
revenue aud taxation.
The war ala cost the Union l.Oo0,O0O u pre-.
ci7us lives, the best blood and sinews Of the ma
tion. These mcn constituted not ONLY the elc-
ment Of their coun,r's defence, but they were
also producers Of wealth. lhe value OF tnoir ia
dustfious lsbor Is forever lost to the country.
How much would that be for the last ten y, ars
Allowing that every man would N each year
rr' luce 500 In value. tiicr loss 20 the country
would De for one yer S3l1VO.1t0. for ten years
S3.W000OO00. n each man would produce $50
IN value each year 1t would amorn; to se01o0l.-
on. and s. OJ1i01oOJ for zen years. and an tbs
prOduciu.. power is a dead los 20 the country.
Tho rnion is at least s:.oo00JOel poorer for tho
destruction Of precious life which the war cost
US. 'fhs sum. added to the destruction - ac-
cumulatcd Property. amounts To- Si2.0a0O0OU0
which inet IA H.
material power.
In view Of these stupendous facts. is Il mat
ter Of wonder that the energies Of tae nation
are par yzed. that lis industry Is crippled. tnnt
its commerce lanegishei that It's business IS at
a stand siill2
Aaain: The Immense Indebtedness, national.
STATE. md nuncigal. .n Irred iu The war cannot
be less than SiWn.wOW1 tho interest Of which
Is - consi NJ harden upon the labor Of the coun-
try. Aud t. THIS siOpJOii0 more OF pers oral IN
dchicdno' :, Including that Of railroad and other
corporations. ard it viii bc seen that the country
and the rcoplc ATE Hctually overwhelmed with
Indebtedness ana Interest, Imposing an en,r-
nous md astound nc tax upon their llbor and
Industry. lI4viug no reliable data unon the
subject. have estimated the indebtedness #
individuals ana corp 1rAti Ions al 5000 0OlJul. II
viii prob bN ilr exceed That sum. Aud to this
Is . bc ADDED the uronisa'c c6peniitur OF
The r.d,rsl aul SEAT, Government. under Re-
publican tuic Tho taxltioa imposed uron the
ueupic ht tnc Federal, safe, county, city. ahd
town governments Is estimated az s5Ol.o0Ig O
annually. Vhcn She present rohhcr turid now
op,re- Ing the clunty-which, wnile IL takes
from the pockets OF the people IRON Si5o,oOooJ0
o. S9"Ui9oD ca'L yclr FIR the national trcls-
ury ma the form of dait.. steals, under the false
pTetcu'' Of pri.ciion, hundreds Of millions
more from thon IN .ho form of an Increase Of
price upon fabnc- and commodities reduced
In the corutry, aud coming ia competition with
Ike fabrics ana commodities imported from
other c,uutrc-. putting those stolen millions in
the pockets Of the favor a clnsses-is another
huge itcm in Tue heavy taxation which now
oyerNhclms the people.
The aggregate rmom' Of this interc .
and taxation i 50 enormous tha, the
people are cru he'd los b.. The farmer can
not raise enough produce from his farm. nor
the mechanic nlr lahorer earn wage enough 10
pay the cyurnscs Of his family, nnd the enor-
nous tax.uon and interest which are eating
him End his country up. 1hfy cmnot, M0tforc.
purChdse and consume ice proiHcis Of &c ifo-
t,c',d niahuf1c'Ur6c, nor H. fot i'm commodities
Of M importer. ANp HEnfiN Is TO IL FoTND
THE 1Hvr CAUSE or TnE FlSANCIAL ENnARHAss-
MENT ASH the sfAGSATioN or IHE BUsiNLSs
OF rIE COUNTRY.
What l. the remedy; II is TO be found only
in constant ami ra.ieut labor, In rctrcnchmcnt
Of expenditures, and IN rigid economy, goyerG-
mental aud personal. These are the only means
Of re-toIns tac shattered and parayzcd indus
THE oi the country. The wealth DESTROYED hy
the W.T., Including the lost earnings OF tho brave
men who were sacrificed in that bloody, fratrici-
dal strife, must be- reproduced, dnd Il cpn he
rpioiutcd onlV IN hd,0r. 1t is the work u1 time,
and 1t will be long before our great country,
So rich In all the natural elements of wealth,
can be restored TO the condition it occupied he
fore the war. Therefore IL l. idle to hope for an
immediate restoration Of prosperity. Even d
resumption OF specie payments cannot alone ef-
fcct the remedy. II is indeed, one u the fac.
ton of restoration 10 sound economical health,
necessary for the welfare OF al, and especially
the producer and labOrcr, who never yet gained
ANYTHING by an irrodeemahle plpor currency.
You will see that an Immediate return 20 specie
! payments will be one II the shibboleths Of the
national Democracy in the great campaign Of
a. ftt F.te ttt..,f -