The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1875-11-11

papers and stumpers- before the cleo
ton, when they were SO rlamorous for
"honest money fOr ali anyi declared
the Sherman Resumption Act to be
ssthessettled policy Of rtne Repubiicsn
partS' from which there could be "no
step backward"
..Let US Emphasi.e That.
eve have given, in former issue T,
the views of q number of the most
prominent of the business men Of
Northern Ohio engaged in iron and
csal business, as to the policy and the
practicability of the Resumption act
to take effect in 1879. These views
were expressed to 8 corr espondent of
the Cincinnati Commercial by those
figentlemens who were in attendance
upon tho deliberations of the Mining
Engineers Association lately in ses-
sion in Cleveland. Every one OF these
gentlemen, all of them practical busi-
ness men, of the solid, zfu bstantial
kind, condemned the Resumption
Act. These gentlemen are of the sev-
ersi shades Of politics, yet all are
agreed upon that question. Every man
of them is opposed to imitation, every
man Of them is in favor OF resumption
of specie payment yet not one of
them, believes that specie payment can
be resumed at the date specified in
that act without distress and disaster.
The opinions of such men are inval-
liable in considering the financial
question. They deal with facts, they
deal with practicalities, and they be-
lieve in theory just as far as expert
ence proves theory to be correct. The
opinion of those gentlemen is the
opinion of ninety-nine business men
out of every one hundred. We speak
Of course, Of our own surroundings.
And when we speak Of business men,
who deal merely in money that class
of men whose starting point is a cou-
pom and whose argument always leads
back to the coupon. We mean by
business men our manufacturers-
those who employ labor: those who,
mako the raw material Of value by
labor. That class of men are included
in the debtor class, for all our mechan-
ical and manufacturing industries no
matter how large their real paid-in-
capital, have a line of discount and
make such use Of their credit that
sudden contraction would bring to the
best of them financial distress, and to
many Of them absolute ruin,
And just here is the point to be
noted. The buIlionist may say that
resumption day is far of and hencsno
cause Of present alarm. 1t is a short
sighted man who talks that way. Long
in advance of resumption day must
banks of issue begin to prepare for
that day by contraction. Let this
winter pass without any let up to that
date for resumption, and every bank
will immediately cut down its line Of
discounts, and deadly contraction will
begin.
We don't care what stock brokers
say, and we do not believe that class
Of men who to supply their money
needs, only require a good pair of
scissors for coupon clipping, should
have a hairs weight in this question.
Business men on whom tens Of thou
sands are dependent for their daily
bread; men who represent labor;
men who build up the industries
OF tho land, they are to be con-
sidered, and their views are
what our congressman should reek.
Washington is teo. near New York
for this battle to be ali even vne, but
cur Congressman do not come from
that city ,aand if they have desire to
be governed by the advice OF practical
NELL, and honest men, they will pull
up the resumption stake now planted
in 1879, aud il they plant it definitely
put II so 1hrnd that resumption
can be reached before that day through
the controlling laws OF business needs,