New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-09-28


ouences of which arc still upon wf iwonder why
rocaI economical OF the imitation school will never re-
member that similar disturbance. occurred In the Dust
ness life OF other countries But two years ago collapse
OF speculation occurred IN Austria, and fucceseon OF
failures England. and similar things In Gil european
countries Franco being notable exception IL SO nap
pens that in countries thus afflicted especially Germany,
not only no contraction Of currency had taken place. but
rather an increase Of its volume, partly By influx OF
coin through the indemnes. partly by an increase
Of bank currency. while in Franco business appears
on the national for the payment OF the German
indemnity, but steady contraction Of paper cur
rency has been going all hn time for tho last three
years for the purpose Of returning TO specie payments
which had been suspended during the German war.
ooiapses in European Countries and in ours. You win
nnd that the agencies of kindred nature were at WORK
srprs. cycresIinE itself extensive pFO %ms
diatc demand the sin,ns Of capital in great under
takings which could yield no immediate return; WINDY
directions and tho creation OF inasnary values waste
M in rss Get & Without nha nam
excessive sta,ning Of the credit ystcm until finally the
bubble burst The people then found mat ,sey were
was there and SO it was here ,,...
an Sn t1S war She had to pay heavy
Of money 100000 600 francs a indemnify. and
aa nsd %nss w nss to be S
per currency restore prosperity. our na-tionists
mined mined Otherwise. Not believing that the country
could reenperae by deceivng itself they issued no more
OF which circulation. They worked stnrdiy
petends 10 be- but is and he who has one Knows
what he has, The people set TO work nsain n ruga
Which there was demand IL the MARKET No capital
sunk in useless enierpfses 10 wild spectnaton no
find France to-day in spite OF her disasters
IN satisfactory condition than mo e0un'fies
around her There is striking lesson before U.s. NO
wise man will study it without profit
| WHY EXPANSION WILL NOT NOW FUEsIsH RFIIEF
Now il being conclusycy shown that the depression OF
business not brought on 10y the contraction OF inc
currency but by which always produce such To-
suits The question Ieeurs whether imitation OF cur
rency will furnish the relief neel You say that
though the hanks in business ccncrs are f OF money
lying idle for want Of employment We want more cur
rcncy. tell YOU business can have as much ss likes
without any further act Of the Government According
TO law every one Of you, any association you
may form, having the necessary capital can start DanR
| Of issue. general license to that effect through
the Iee Banking ret vas given ny & f1 nors
local circulation and starving for greater banking lac,
ties Now you can make yonIsesys conio'o S, ANU
amount currency but behold the currency VIII no.
r!or for more currency do not t nnger 70 create
more Whyt Here = reason given 10y Inc Omen rntt
to iuy Tie bonds to deposit with the National Govern
ment, and OBTAIN National currency IN exchange;
u ute e OF Gov Alien Alien iass But apps
business men, abOIers, laIEcrs-WEO hoLerliy nesc W
do right and lock up your pry leaders for nstuc-
ton. II ycu want an Instance Of mprdent, insulting
assurance, with which these men depend on your beng
too ignorant aud stupid to tell IN op..Gs aet ron a
obvious f:senood LOOK at this Here IL lie great repre-
OF its brains, the feeding Pipe Of its Tisden. And
while millions and nons Of money are lying n'eni
Wc; looking foc investment sufficiently si.e; vale
there ore dozens OF capitalists with abundant means
which they might devote 10 The creation Of bankpIper
ISSUES If IL profitable while eyerynody Knows that
there ia scarcely OF respectable size without men
Of fully able to form combination for that pur
posethat organ fighting the truth as ito personal enemy,
cooy You 10 believe That there is not currency
enough IN the country 20 permit he purchase OF bonds
When read such things do iiot know what 70 admire
mosihe andaey ofIe nyentoIs 81 Inc pa Sa Sss
ment appears in It's full glory when we look n Ell the
lie country show that it needed more, when it re-
fused TO issue more ia spite OF Its opportunities but IL
sIirrendering large portion OF the bank currency In
circulation. On tho first Of July OF this ycc,r,
new new, e" anaSthe .'u to but according
letter addressed 10 me by the Controller OF the Cur
posted with tho Treasurer for the pgrIose OF reiiI1ng
hnon PAM n0s Gs, Sc ae' 81. ug ~ re sa,oe
act over S4OOOG00 National bank notes hayo boon re-
tired by fr The largest part Of this reduction taking
pace in tie West and conth, which, VIC are old were
ing more cItnlaton By 10 l3th on eepien-
Der thai figure had risen 10 nearly $4,000 OC0.
How is t1isi TIE business of the country u.s. they tel
US suffering terribly Tor the want Of currency and
dating itself by issuing when it hes opportunity.
voluntarily surTcDdefIng miiilOiis or what IL
has Let The Enqsirer expsin Perhaps that exponent
OF imitation wisdom will say thas have not cur
rency enough keep from giving up that which We
have got But hcIc i..cts There is contraction not
contraction by the Government not contraction by tne
ncss of The county, "a contraction OF currency von
tary fcOt 10y The business OF the country, when
that at perfect liberty To choose expansion
10 well. 10 II not SD eacc, indeed II see NOT oy
public reckless enough inns efuely 10 mock tle
eduty OF tie poor needy but mutitudes patiently
listening sueh av.ng asurii.ies, instead OF repelns
lhc insult sanonly offered TO then good Sense.
nv
| UNDER
| An irredeeInabe paper money, cheap money, tie
peoples money, imitation the relief OF the poor en-
treat you lsboriDg men, poor men, give your candid
attention one suppose We issue ency,
as the Ohio platform eGphoniousy calls 1t, TO MAKO
and keep volume Of currency equal to the wants Of
trade" In other words embark in the cause OF intar
ton. will not argue Iere tie constitutional point
has tie power to increase the volume
Of greenlacks beyond SI0O,O00,00O aud whether the
Supreme Court rs pecodit wOIli might declare such
an act void and OF force SUPPOSE can he done with
out any legal impcdment. How viii it Operatel
Here is capitalist merchant OF extensive means,
O wealthy Speculation. ln the morning he takes up Lis
paper reads that Congress has passed act to issue
another hnndred or two funded millions, with prospect
He knows matter o. corrse. that there
81 greehback dollar will decrease 1he next Place OF
Le gets in or from MsllSt Is gold IL gons up and
once to trim his sail 10 the wind. lie seeks way to
take advantage Of fluctuations going still i'll pros
Of thousands he easily finds that way II he cautious
man. he has Of course lent out money or given credit only
on short time and he 1T calls in money d.e min with
rigorous severity 10 himself from the effects OF de-
into Is SS a ae nut ne @ snss ss f
before the and puts his money into Investments
not apt 10 be uRiavorabuy Affected BY fluctuations or
II lie be a merchant. be viii at once put up prices to
prov. npo and for c,s fdr he il NOT anxious to sell
and. being wealthy not Obliged to sell, knowing