Pioche daily record. [volume] (Pioche, Nev.) 1872-1876, 1875-08-07
A FEW POINTS.

In the history OF all civilized nations
there comes time when depression in
trade, a falling off of exports, and a gen.
eral balance on the wrong side of the
public ledger occurs, and while the
causes Of such depression is various, the
results and ensuing endorsements are
usually OF the same nature. At the pres
ent time snch depression exists in four
great nations, viz. England. Germany,
France and the United States. The
cause of dull times appears to be an ina
bility to dispose of manufactured goods,
and consequent insecurity in the mat
ter of negotiable mercantile paper It's
impossible for country to dispose OF
surplus OF production when her neigh
bors are unable to purchase, and though
the country's commercial status may be
good, her credit unimpaired and her pro-
ducts of superior nature, yet both COM
mercial influence and superiority OF
articles offered to purchasers, fail to
counterfeit the deleterious influence Of
outside and simultaneous depression. 1t
is the most natural thing in the world for
the citizens of a country to discuss the
cause OF dulness Of trade and partial
paralysing of manufacturing industry.
and II is consequently not to be wond-
cred at that false and erroneous impress
sions arise. The different discussers in
the foreign countries refeferred to are
disposed to look at the matter as the
natural consequence to course of spec
ulativs and unnatural commercial action
and TO tide the affairs over, as best they
can, BY economy. Here, in tho United
States, where every man Is sovereign,
and some with but poor conception OF
their ruling dignity, it has become the
fashion with certain class dually com.
posed of adherents Of the two great po-
litical parties, to assert. and attempt to
prove, that scarcity Of money is the
cause OF the existing dullness in trade
and lax demand for American manu-.
features. Under the name of initiation
lists, these parties claim with apparent
FEASIBILITY that all the country wants is
more money. For the sake of argument
We will admit that more money would
harp TIC ccunlxy and for the base Of
ne premises refer TO other nations
= wen snsAm.EicRax The present re-
asevs d spsjlS NJ M Rank OF England
u Q3lo.qo4eog p<yss. exceeded but
ooos in tho history Of that king
dom. yet the electric pulsation Of
the cable informs us at every throb,
established OF mills closing. old houses
failing aud men out OF employment, yet
money is plenty at three per cent. Lack
OF money is not the fault in England.
In France the specie reserve in the Bank
Of France is 1915, 200, 900, the greatest
in the worlds history. yet men fail on
the Bourse. and business stagnates in
Paris. Marseillos and Lyons; scarcity Of
money is not the cause of dullness there.
Now note Germany. Amid the crash of
failing Berlin and Vienna brokers, the
telegraph tells us that funds are plenty
and for use at low percentage. There
is no stringency there. Turning to the
shores of the New World the infiationists
may point to the dark FORCES of Pennsyl-
vania; to the silent looms of Lowell, aud
the listless sails Tapping on the masts of
idle vessels. and yet the most casual in
quiry will elicit the fact that in New
York City alone, the amount Of reserve
IN the banks on the 1st of August aggre-
gated $S0, 900, 900, and money is a drug
at four per cent. Here we have fouI
great countries with universal dulness, a
common laxity of demand for their sew
sral productions. and an enormous
amount Of money at a low rate OF pre-.
mum, The proof is evident to the mosl
an'hinking mind that It's not circulat
ing medium We need. Yet an unthinkips
iaeuon' that know as much about wha,
they IDLY pirate Of as "a mouse does Of
geometry assert that all we want is NOR.
money, aud with oyerbeariup nomnos;tv
ana arrogant pretensions aecry through
their organs the sober class who ,aooo
nize the Importance of underlying valu,
in the currency, and who dread incipien
repudietion. The limits OF this artic,
forbid any elaborate discussion of tn
prime and underlying causes OF the sta,
nation in the Atlantic Slope and Missis
ippi Valley. The evidence adduce
shows pretty clearly that scarcity
money cannot with consistency he reel
oned as cause of the present deplorab
condition OF trades and manufactures.