Ashtabula telegraph. (Ashtabula, Ohio) 1874-1880, 1875-10-08
Financial Common Sense.

Two men stood by an idle furnace IN the
iron regions of Pennsylvania They were
both honest and industrious men, and both
were anxiously looking for revival oi
business SO that they could again find EN-
pIoyment. Tom was the senior In years
and IT was evident from the conversation
that he had not gone through the world
without acquiring what is called common
sense. Bill, as his companion was called
was evidently laying down for Toms spe
cial benefit what, in his opinion, was thu
cause of dull times. 'You see," said Bill
'there IS no money to keep the furnacs
going. When money was plenty we hat
good times, and everything in the valley
was doing its best But they commenced
to contract the currency, and down went
business, and here we are without stroke
| of work to do. What we want now is
more money, and then things will iven up,
and you and | will have enough to do.
Tom. "Who told you there was no
money? Why, man, there is more money
IN the country afoat, right now, then there
was when we were running night and day.
Ou dll0 L lE1h oil We NOoAl w DOlOAO AOaOI
and vet there was less currency than there
| is to- day. Why, there was, in 1874, over
| $777, 900, 900 of currency, the largest
amount ever afloat in this country, yet you
and never saw harder times.
Bill Glow do you know that there is
more money in circulation than when we
were busy and times good? That don t
agree with what they told US over at the
Democrat meeting last night. The Judge
just laid it down in black and white that
we needed more money, and that if we had
more currency we should all be at work. -
Tom. "Oh, these political speakers Of
your school are just talking for effect
ury Department. BY this you will see
that in 1869 we had 1916, 50S, 0O0 in cur
rency. In 1870 we had $663, ,S7S, 900. In
1871 we had $711, 582, 900 In 1872 we had
$731, 355, 600. In 1872 we had $40, 799,
900. In 1874, the dullest year that you
and have seen for twenty years. we had
$777, 538, 600, and this year we had, on the
30th of June, $769. $40, 119. Nsw does
that look like scarcity of money : Why,
Bill, this report says that the banks are
cutting down their circulation because they
have no call for the money. So you see
b44o6 b1lC was w udNC ROE
more money than business. What we
want is more business, and we can't have
this until We have our currency worth as
much one day as it is another"
Bill. "Why how does the currency sf-
feet business; is it not just as good one
time as anotherf"
Tom. mo; every time gold goes up
paper money goes down. When gold is
quoted at 120 the greenbsck is worth only
894 cents Now, that's what troubles bust
ness. Our employers dealing in green
backs don't know their value from one day
to another, and are likely to lese if they
contract to deliver at future day. What
we want is to have our paper money worth
as much as gold, and this can only be when
we resume specie payments. This talk of
adding to the currency is sheer humbug.
1t makes every dollar we get worth less
than it was before. You may call me
hard-money man if you like, but go for
the best currency in the world, and that is
the one just as good as gold"
Bill. "Well, Tom, that sounds reason
able, and guess you are about right If
they added hundred millions you and 1
would have to work as hard as ever to get
s dollar of it. l don't think l shall take
much stock in these imitation speeches after
this"
The two men parted, Bill wiser man
than when he first met Tom.