Alpena weekly argus. [volume] (Alpena, Mich.) 1871-1893, 1875-10-20
The SaginaWian.

ihO bSNioiV THU IcSS Ol Cui
D day published the opinions of IL
editors of Democratic journals
: Michigan upon the currency que.
ton. The following from the pc
of Geo. f. Lewis is worthy of pei
usal:
Having so many times come S
near making a complete financi;
failure in private business, my in
dividual opinion on general finan
cial topics is esteemed by me, q
least to be of little worth.
If am searching for a practice
opinion in law | go to my lawyer
on physic, l GO to my physician /;
in regard to the management of
newspaper, go to anybody AM
everybody +; on finance, l seek opin
ions of those who use money, "fron
the least even unto the greatest
commercial men, manufacturers
mechanics, beginners as we'll a.
those moro experienced in every
sort of enterprise, and of those mer
who deal in money.
From q careful view of the situa.
ton, and considerable regard foi
the interests likely to be most deep,
ly affected by any financial policy
regard this to be the opinion OF
those in Michigan whom consider
authority on finance, and this is my
opinion: ~
Specie payment as soon as posi-
bic without disaster to the business
interest of the country.
The consumption proposed in
1879 cannot be brought about save
by the bankruptcy of three-fourths
of the business interests of the
country. l
Initiation is not desirable, prac-
teal nor possible unless the gene
raj government proposes to make
business The conditions of war
times, with lavish expenditures for
every possible product, cannot be
revived.
In regard to national banks,
which it is proposed so summarily
to wipe out, there is the grave
consideration-had we not better
"bear those ills we have than fly to
others that we know not Off L
doubt the propriety or even posi-
bility Of an immediate change in
the national banking system, which
certainly, as at present organized,
gives all the margin for expansion
Of currency, that the business in
terests of the country can require.
Two-thirds of the talk about nat
ional banks is mere clap-trap.
Rigid economy in national, state
and municipal expenditures is,
more thar any other, thing, which |
is required to bring the financial
of the country up to par,
which means resumption. Sagi- |
nav City was considered niggardly |
in public expenditures, behind the
age as compared with the sister
cities of the valley, yet by an earn
est effort to retrench, those expen-
ditures have been reduced 20 per |
cent. within the past year, and still
we are as comely, orderly and we'll
governed as the best of them. The
same ratio of saving in the public |
expenditures Of the whole nation
would bring the country up to a
gold basis in twelve months. .0All
,ur people feel that they have q
personal interest in the welfare of
he city, each feels an individual
pride in the maintenance of her
credit. When this feeling prevails
n relation to the general govern
nent, and it is regarded as a treas
Ire to be ,sacredly preserved and
lot as mine to be incontinently
we shall not be long find
ng the way out of all financial
ADVERTISEMENTS. &c
The Democracy of Michigan
we're responsible for the "cheap
money" Of 1887. We want no
more such trash. y -A 90
My father was Jackson Demo-
rat dyed in the wool. He had i'm
,licit faith not only in Democracy
,ut in Democrats. A Democratic
legislature allowed banks to go in
o operation on purely "rag" ba-
is. He said this was Democratic
money, sold in very few days his
ntire stock of boots and shoes--a
lrge stock, too for those times
Or cash, "wild cat" bank notes. h
PRESENTLY the banks "busted,D pres
ntly William Lewis was financially
strapped; the family presently
hifted for themselves, and after q
w years the old gentleman, sacri- 4
cling all his property to pay up
n his misplaced confidence, left ,
for hard money fCalifor- ,
Ia. Not an important oircnm-
ance, to I've sure, but ii explains
by I am in no danger Of going I
sane on the subject of "cheap |
oney7 and how Michigan took /;
n first lesson in finance. o. l.if
Let the farmer plant ever so !,
uch more corn to the acre than I
required and he will grow an H.
s,raticn Of tits imitation business