Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1875-10-11

CANT expansion Of almost every kind OF
business. When the returning soldier,
the farmer, the mechanic, the manufac-
turer and the Spectator had his pockets
lined with greenbaeks, the times were
so flush that the people became crazed
with the idea of engaging in some bust
ness that would bring sudden fortune.
The sturdy farmer, who had struggled
up from poverty to decent independence
saw the dazzling fortunes that others
had made, and he became painfully anx-
ious to be rich. He ignored the slow
but sure process that had procured him
his present standing, and sought by ex-
panslou Of business and speculation TO
become rich. He bought the farm that
adjoined him, erected new buildings, |
filed his parlor with new furniture, IN
creased the amount Of his hired labor,
expecting to meet his bills and pay off
his outstanding obligations as easily in
the future as in the present. The new
acres demanded new help the new debts
we're rapidly running up heavy inter
est the spirit Of extravaganza that was
abroad, got into his house, and the ex-
penses Of his family increased, and so at
the end Of the year it was discovered
that the expenses had been uncOmmOnly
heavy. On the other hand, there had
been, during the year, steadily falling
market for farm products, and an in
creased expense had to be met, if posi-
bic. with diminished income In ma
nv instances the balance was against tie
farmer and the result Of the year loss.
The laboring man was receiving high
wages, but instead Of keeping down ex-
penses and laying by his surplus earn
ings, he spent all and now, when dull
times have come, finds himself poor, and,
what is worse, out of employment. Man
ufacturing was terribly increased and
expanded, until shops, stores and ware
houses were overflled When the crash
came it was discovered that the people
we're not buying, and that the market
was glutted. Then the manufactures
began to stop, and the hard times came
on. The constant attempt to do some
thing, and the desire to keep help en-
ployed, has kept too many factories il
operation, and tended to keep the mar
ket too full, up to the present time
When manufacturing business was brisk
building in the manufacturing center
was largely increased, and the mechani
and lumberman found market for his la
Dor and his lumber now there is smal
demand, and the mechanic and lumber
man is out Of employ.
To add to other misfortunes, indiviC
uals, corporations, municipalities an
the country itself, are burdened wit
heavy debts These debts were most
contracted during the flush times OF 4
war and thereafter, and they now repr
sent sums altogether larger than tn
did when contracted. Take as an illU
tration a debt, made in 1864 for o
hundred dollars, when currency rep
sented only 40 cents in value for
greenback promise of sl.OO; if Il
debt remains unpaid to-day, it will
quire nearly double the produce, lal
or other production of the farm. shop
hand to pay it. Hence the debt is re
ly increased, and the trouble of pay
1t enhanced. As government cure
comes nearer to the gold basis, OF
things apparently, but not really, de-
ciate in value. Those who we're abb
pay their debts with the cheap mo
that represented their value, did
lose but when the debts incurred {
ing the war are paid in currency W,
from 70 to 90 cents on the dollar,
the burden is heavy.
The above shows that during the
Of expansion and extravaganza, our
were seriously aggravated, and Ougl
teach lesson of retrenchment and
traction. The greenback currenc
now IA per cent. below par, and WI
err goes into debt to-day, to pay, by
by, in currency when it gets up to
value, will pay SLY for every doll
debt incurred. Steer clear of deb
possible pay off old obligations, re
expenses. 20 in for contraction gen
ly. and VIC shall work gradually OF
the present dilemma.