The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1875-10-07

| IOnr hundred mllllOnS OF dollars
This is only another shift Of these ''ar
chitects of ruin p 2 l M i1s ods
COLONEL y. MEYERS LETTER AND OURS
TIoEs. G'yiiI.
CANTON, October 5, 1875,
Hon, [drl Schul-
DEAR GENERAL: As a oomrade, and
for q time, commander Of mine, in on
late war, you will kindly permit that
PROFOUND II few questions. with the re
quest that, rs they are certainly Of gray,
importance, and much considered by thl
peoplcin the present crisis, youwill avail
yourself Of this occasion to make then
The subject Of a part of your discourse il
this city. make this request on behal
Of myself and many other friends O
/ yours, who have been admirers of You
outspoken and manly independence il
the Senate of the nation, AS well as else
where before the people, in the confident
expectation that your wise counsels will
succeed to calm their fears and dispe
their doubts, and they thus be enabled tc
discharge their duty as citizens at the
ballot box, as they ardently desire, in All
intelligent and conscientious manner.
In your discourses, hitherto, you have
ably and satisfactorily portrayed the
evils Of Imitation as well as generally the
uncertainty and dangers connected with
the paper issues of Government as a
currency and standard Of value whilst
with convincing and unanswerable argu-
ments you have succeeded To impress
upon every reasoning mind reached by
them, the fact that gold and silver
is the best, and, perhaps, the only safe,
standard of value. Indeed, all are con-
vinced of the excellence Of a specie cur
rency, and all desire it.
But what troubles the mind of many,
is the question, how to return to this
specie currency, or rather to the resump-
ton of fspecie payment in the unfortu-
nate condition our country finds itselfin.
This momentoIs subject has not, as we
are aware Of, been approached by you in
your late discourses. We hope, therefore,
that you who are, doubtless, familiar with
the subject, may find it convenient to
enlighten us with a solution of the i'm
portant questions, kindred to the same
which here follow.
Is it feasible to bring about the re-
sumption of specie payment by force ofa
legal enactment merely? If not, then in
what other way cLn it be effected ?
Whilstyou were in the Senate of the
United States did you sustain by your
vote tile Act of Congress passed TO enforce
the resumption ofspecie payment as ear
ly as the year 1879? ..
Do you approve that measure nowP
What, in your judgment, will be the
effect of that measure upon the business
and property Of the countryY
If carried out, will not the effect of
that measure be, to protract for long
time to come the financial crisis under
which the countryis unfortunately suf-
iering, and toinvolve the country in still
greater financial difficulties? lcJ.-f
Where is the specie to come from
which is to take the place Of the present
paper currency? >,
Is it not fact, that whilst the increase
of the popul laton, BUSINESS and property
Of the country requires corresponding
increase ofthe volume Of money in circu-
lation, there is, at the present time less
quantity of gold and silver in the country
to supply the circulation than there has
been at any time since the close OF the
war?
To bring about the resumption of spe'
Gle payment, is il not Indispensable that
the present currency be largely reduced
in volumes Or contFcted2} ii,jiI \
Assuming the paper currency of the
to be about $50 millions Of dol
lars, how much must, iT your judgment,
that amount be reduced lid volume, toll
render the resumption Of specie pay
ment practicable2 tal
What will be the effect Of such reduc- 4
lion, in your judgment, upon the price,
and yalueo property and labor2
Must these not. necessarily decline in
price and value in ratio nearly equal
10 that of the reduction OF. the volume of
the eurrency2 " "a
What effect, in your Judgment, will
his reduction of the currency, and con-
seq tent decline Of the price and value of
and labor, have upon the debtors,
Of the country Will not the weight of
their Indebtedness accumulate to the ex-
.ent that their property and labor have
decreased in price and value? Il
What are yonEpwn views on this'mo-
subject which doyou cJQsideT
IS tba best and safest pethod offeturn4
ing tpspecie paylhent?J w jlUlslJ /
Are you in favor of an exclusively me-
Lallic currency2 f43s /.
If not, what kind of paper currency do
you favor2
p, DO you favor banks Of issue, State or
National2
Doyou not consider these less safe, and
more dangerous, and more liable to cause
fluctuations by expansion and contrac-
ton, than Government issues ?
Is not the long continued depreciation
of the Government issues mainly owing
to the disgraceful policy of the present