Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1875-12-20

cmploymcntto to the great mass of laboring
I'men who are now idle. 1t is generally
recognized that Tho present hard times
have been produced by capitalists rcfus
ing to use their wealth in employing Ia
Dor. GuHura' prosperity cunrutt utt-rS;;-a--S-
ccpt when the masses arc prosperous
that is, the great.undcr stratum efsociety /
who labor for a living, need to be en-
pleycd at rcmunerutivc prices, IN order
that the tens of,thousands OF tfadesmcn
who fill up the avenues in great and small I
cities may prosper. and with the
2p."sperit of this class is insured bat OF
the mex, row a,s,v.ss.-ssl.., supply them,
and SO on up TO ethe few tiiaTyiairr-.ad
mercantile kings, a'p whose vaults the
money streams Of the country. fina!ly
empty. Well paid labor is the source of
general prosperity, and when this source
yields nothing. the man streams soon
run shallow, and finally become exhaust
ed altogether. This condition of eNhaus-
tion is the trouble with the United States
at the present time. Industries are para
/ lyZcd, and the masses are idle 'and7neor
| The sources of prosperity are barren71
yielding nothing Something should be
done to utilize and make productivcthese
sources. They should be set to work,
and soon it would be seen that new life
i would he infused into all the channels OF
. trade, the streams of prosperity would
run full, and an+abundance of money and
good times would he the result.
1 Now, low can this be donc2 Would
the adoption OF any financial system by.
the government be the means of giving
employment to the idle millions who are
now begging for work. fit WOULD, then
| it is certainly the duty of the government
to adopt such a system at once, and we
haveno doubt the government would do
this If those in authority could be salts
fed which one Of the many tho6ries pre-
scntcd would be the best.
In our view, herein lies the troublc-in
the vascillating, uncertain character of
our financial system. 1t is nota question
whcthcraa paper dollar is as good as asold
dollar, nor whether paper does not make
as good money as gold. 1t is question
as to what financial system will inspire
that degree of confidence among the men
who hold the wealth Of the country, SO
that they will be willing TO use their
wealth in giving employment to the mas
scs.. If paper system will do this, well
and good; let the government adopt it.
But here We are met by score of paper
theories. The Herald wants all national
bank notes withdrawn, and money issued
direct by the government: another party
wants free banking; another wants the
banks limited, and so on. To-day, ont
system prevails, but its antagonists, wht
are numerous, assail it as the cause of al
our woes. Next wear the Herald idc
mayIprcvail, and the present system j
modified. The next yearSl.sings int
power still different school, who upse
the established system, and inaugural
something else, thus keeping our nationa
finances in constantly unsettled condi
ton, to the great prejudice and constan
dctriment of national industry. papc
system means instability, vascillation
idlcness. 1t cannot be in the nature c
things, permanent.
The indispensable need of the countr
: is a permanent financial policy, and q
the same time one bcfitting the magni
tude and dignity of the greatest govern
ment on earth. A system that the worl
will recognize as safe, and it seems to L
that specie basis is the only toundatio
for such a system. 1t has grown up wit
civilization, and the world knows what
: means. 1t is timc-tried aud world wid
1t has existed SO long that gold and 81
= yer have come to b: recognizcd-a as natu
al money. All other forms of money Al
y reckoncd by their standard, and are va
! ucd according to the power they posse
II to=purchase coin. This being fact, wi
not sett!cour governmental system 9
/ this basis. 1t is solid, durable, and casi
IS comprchcnded, and we believe that I
;, adoption would insure a speedy return
~ that general prosperity for which the pc
y. ale of the I-nitcd States hayn i, ,nnf, a,