The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-07-26

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to reporter at Deer Park that lin all times
of commercial depression the cry of More
money is raised, the present period being no
exception" This is very true, and time Of
depression is therefore good time for states
men like Mr.. Thurman to show their constit-
uents the absurdity of this cry. There never
was so good an opportunity as now for the
leading statesmen of both parties to instruct
the people in the simple and elementary
truths of finance and we are glad to hear
that Mr.. Thurman at least means to do his
duty in the matter. We hope when he
speaks to the Ohio democrats on the
3lst of July he will explain to them
that ''more money" which everybody
wants, not only now, but at all times, can be
obtained by any one only by more labor and
more economy and that, if the United States
| government should tomorrow either coin O
thousand millions of gold and silver or print
thousand millions of rags and paper, no
man in Ohio could got into his
own pocket o angle dollar, gold or
paper, of all this ''more money" unless
the government needed his service, and then
not until he had performed the service When
he has made this clear to them let him show
them next that while, during the war, the
government was spending far more than it
received from taxes. and thus had occasion to
print and pay out greenbacks, now it is re-
ceiying more than it spends; and, conse-
quently, if it should print ten thousand mill
ions of greenbacks, these would have to lie
in the Treasury, because it would have no
occasion o. excuse for paying them out
If Mr.. Thurman will make these two points
clear to the Ohio men he will knock the bot
tom out of Mr.. Pendleton's little imitation
scheme, and will send his audience home
good deal wiser than Judge Kelley, Senator
Gordon, Mr. Pendleton or General Butler
will ever be.
And when he has shown his hearers that
''more money would not help them in the
least unless some of it got into their indi-
vidual pockets, and that there is absolutely nc
way of getting it there except by doing some
service which somebody who has money
wants done, then he might very we'll go on to
the third lesson and show the Ohio men that
while they are crying out "More money" the
banks are stuffed with it, and would be only
too glad to lend it out on reasonably coed
security. 'In all times of commercial depres-
sion" not only is the cry of "More money"
raised, as he remarks, but at the same time
money is always a drug in the market. In
terest is never SO low as in time of COM
mercial and industrial stagnation. Money is
never so abundant as when nobody wants to
use it in enterprises. If everybody was hard
at work all over the country at some useful
and necessary employment if we were all
rushing ahead, ploughing, sowing, planting,
manufacturing, shipping selling and buying,
there might be sense in a cry for "more
money! for it might happen that somebody
somewhere was Inconvenience for lack of
small change in paying off his workmen or
settling his store bills. Fortunately in such
time money would rush in rapidly enough
wherever it was wanted. But now, when we
have no use for all the money we already
have-as is proved by the fact that it is piled
up in the banks-what sense is there in cry
ing out "More money!" 1t is about as
ridiculous as though dry goods man, having
sold out the greater part of his stock of
calicoes and woollens, should suddenly rush
out of his shop and order "more yardsticks,''
or as if an Ohio farmer, having got in most
of his hay, should run around among his
neighbors to borrow "more moving ma
chimes" Probably some rough but sensible
neighbor would say to him, Z" You old fool,
go home and get in your hay before it rains
you've got more moving machines now than
you need for the work you have to do"
Then there is Mr.. Pendleton, who is quite
ready to return to specie payments whenever
everybody is ready for resumption, which
reminds us OF the country preachers offer to
pray for rain whenever all the farmers in his
congregation we're ready for a rainy day.
Theoretically, he hints, he likes gold and sill
yer; but practically he is opposed to any
steps which lead to hard money. He is like
the Governor of Western State, who be-
lieved in Maine liquor law, but was strongly
opposed to its enforcement, or, like his old
friend, James Buchanan, who held that no
State had a right to secede, but
that nobody had any right to prevent it.
Is it not little contemplate for demo-
cratic leader-one who believes himself to
be a statesman-to be pettifogging great
public question in this way? Why not speak
out, so that the wayfaring man, though
fool may understand him? A man cannot
be at once for hard and soft money,
for gold and rags. We are, unfortu-
nately, cursed with q currency not
redeemed in gold. The question is =
Shall we be content with this and issue more
of it ON various shallow pretexts. or shall we
stop swindling each other and make the gov
eminent stop swindling us, which we can do
only by forcing the government to take in its
greenbacks, which are simply broken prom
Uses? To muddle the brains of an audience