The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1875-07-14
OUnHANCOCK LETTER.
Judge KeIIey's speecn--A Sad Acr'
dent--FarIn and General News.
FAlRvIEw, HANCOCK COUNTY, /
july u, 1875.

Editors of the Register.
Judge h elley, of Philadelphia, ex-
planned his financial views in an elabor-
ate speech delivered at Youngstown,
Ohio, on Saturday last, which Is reported
in the Pitts Dugh Commercial OF yester-
day. The Judges system includes,
firstly, the repeal OF the act OF Congress
which arbitrarily fixes date January |,
1872 for specie resumption, and coupled
with this the return of the volume vi
green backs TO at least four hundred mil
lions. simultaneously with the issue OF
convertible bonds bearing low rate OF
interest (S'65 per cent. being the rate
named BY him in the bill urged by him
in the late Congress). The contraction
of our legal tenders, through the "de-
monetization," as he calls 1t, OF our paper
currency, is the dire fountain OF our imam
cial woes. The extract following Is a long
one, but if you will give it space 1t will
serve to show the kind of facts and rea-
soning upon which the Judge relies. lie
says; =.
But some Of you may ask: How is 1t
that our contraction has affected other
nations? The condition Of Engiand, Ger
many and Austria is rs bad Us our own.
Yes, gentlemen, and from the same
causes, the worship of the gold dollar.
The contraction of the currency Is not
COZ fined to this country. The legal ten
der of Germany before the war with
France, and ut Its close, was silver. Gold
made no appreCnblc part OF the German
currency. But having imposed on France
war fac equal to the supposed amount
of her gold, Germany dcmonetlzed sill
yer, and made gold her legal
tender. She had over four
hundred million dollars of silver and she
demonctized it, rs we have demonetlzed
50 much of our paper currency. But the
evil does not stop here. Italy, Holland,
Belgium, Sweden and other countries, all
of whom use silver rs legal tender, yield
inc TO the teachings OF abstract theorists,
have also wholly or in part dcmonetized
it. and adopted the gold standard. Could
pold have been created at will, this might
all be- well; but as the amount lit the
world is fixed, and the annual production
very small, il is impossible IL maintain
such volume of credit, us the people OF
these countries have enjoyed.
With the contraction OF their currency.
their credit system, and industries, have
collapsed simultaneously with our own,
and England, having been the workshop
for all the nations, finds herself without
markets, and consequently with failing
merchants and starving workmen.
France is the most prosperous nation IN
the woI Id nj this time. She paid her
war fine, but maintained her lrredeema-
bic paper money, by which she kept her
people employed, and the New York
TrtJ,ute is my authority for saying
that the Bank Of France now
holds the largest amount of bullion 1t
has ever held, namely: S3lj,O0OOO0,
while the Bank of England holds but
Sl33, 100000 Meanwhile the United
States, Germany, and the ether nations
named, having become competitors for
cold, it has doubled in value, and gold
dollar will buy more than twice as much |
pig iron, railroad iron, wheat, flour, cotton,
tobacco and petroleum, as 1t would when |
the worlds currency included our uncon- |
tructed volume Of paper money, the sill
yer of Germany, Belgium, Holland,
Sweden and other countries, and
the gold Of the world. These
three elements made up the |
volume of currency at the beginning OF
lSj6, TO which the business OF the world |
had adjusted itself, and the withdrawal
of our paper legal tender, and the silver
LEGAL tender of those countries, Is what Is
the property of the industri-
ous and entcrpriSing OF every country, to
the few people who are wealthy enough
to hold the bonds OF the nations. The
so.called free banking system established
by the Forty-third Congress, Is but the
granting to the Rothschilds, the Barlngs
and other bondholders, foreign and Amer
lean, the privilege to own, control and
manage the banking system and circulat-
ING medium of the United States.
A very sad accident occurred in the
adjoining ncighborhood IN Washington
county. Pa. on Friday last, whereby an
estimnblc man lost his life. Nathan
Thayer, Esq, of New Cumberland, this
county was engaged with his machinery |
in raising a barn near Florence, Pa.
Among those casually present was Capt. |
Andrew Bruce, formerly sheriff of
Washington county, and known to most |
OF the people of that region. Capt.
Bruce had fastened II rope attached to u
heavy log to the derrick. When the
weight came upon it the knot in the rope
slipped, and the derrick fell, striking
Capt. Bruce on the head with tremcnd-
Gus force. He lived but about half an
hour. His head and shoulder were very
much bruised and broken. Capt. Bruce
was one of the most popular citize1s of
the northern part of Washington county.
He was perhaps GO years of age and
leaves large family, among whom is
the Rev. Jesse Bruce, his son.
4 man named Winfield Randall, aged
about Is years who moved with his wife
into house near this place, last spring,
died on Friday last and his remains
taken for interment to Frankfort, Pa,
where his wife had relatives living. He
was an entire stranger in this vicinity
was man of fine appearance and is said
to have formerly been performer in
cIrcuses.
For the Office of County Superintend-
ant of Schools, which Is to be filled by
election on the 18th of August, there are
already two candidates mentioncd-Mr.
He. shepherd, present Superintendent,
and Mr.. Van Il. Bernard. John ii. At
kinson, Esq, it is said, will also be can
didatc. Mr. Shepherd has made an eX-
celleut officer, and stands first chance of
election.
The wool buyers as yet offer RIO more
than - cents; so the holders continue TO
hold. No clips of any consequence have
yet been sold.
The harvest is just commencing.
Wheat ripens IN uneven spots. But few
fields are yet cut. The crop is, rs have
before advised you, only about half one,
if that.
Berries of all sorts are eagerly sought
for this season, by reason of the failure