The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1875-09-16
THE MONETARY QUESTION.

1t was our position from the first. For
more than year the Monitor advocated
the maintenance of the Government pa
per urrency--indeed, ever since the
subject has been question of public
discussion. We predicted just what has
come to pass in the monetary world.
We deplored the action of Congress, en-
forcing resumption in 1879, and for the
reason that it would impose intolerable
burdens upon thepeople. Every species
of property Except notes, bonds and
mortgages in which the masses of the
people do not deal) must depreciate in
value from twelve to fifteen per cent.
The man who has given notes for the
purchase of real estate will find that his
property has deprecated by a per cent
Just equal to the increase of his indebt.
edness on notes grown payable in gold
value-the amount of his double loss be-
ing equal to twice the difference between
gold and greenbacks. In addition to this,
as q property holder he is taxed heavier
to pay the gold interest on Governn ent
bonds issued. At the present time gold
| is ll3S, and resumption would compel
the purchaser to suffer q discount of26a
cents on the dollar for all unsettled
claims. nr,umg.a r,t .q,..lgaa
This illustrates the condition of the
majority of our tax-paying citizens
Their liabilities will be increased and
their assets decreased In the same pro-
portion by resumption. Seeing this fact,
we cannot be faithful to our readers and
the community without stating it, The
people of this town have toiled and in
vested and sacrificed to build it to the
present status. They have. put every
thing into improvements, And now they
are struggling to pay for it. Is 1t right
that the Government should enforce an
act that will depreciate it all? 1t is
wrong, and the law should be stricken
from the statute books. What is true
here will apply elsewhere as well. In
making these plain ayerments, we scorn
the imputation that we are aiding the
Democrats. The files Of the Monitor
prove that we have always held to this
phase of the peoples cause-when the
Democratic party was yet q hard money
party. The leaders Of that party were
shrewd enough to see, and liberal enough
10 depart lTOlu llS Olu Ndyo dAlu IuhO up
this rejected CORNER stone" in the build
ing ofa new country, We rejoice that
this whole party, with its platform, has
come TO our position, and also a large
number of Republicans. Among the Re-
publican dailies on our exchange list
there was originally but ono that had the
courage to advocate this position in the
face of its own party, But now, con-
strained by the pressure Of public senti-
ment, there area number veering toward
the center of gravity, money for the peo-
pie who labor, and not gold in the vaults
inactive.
Contraction has frightened capital out
Of all enterprise and stagnation is the re-
suit. The Republican party is response
ble. 1t has departed from its national
platform of '72, upon which our excel
lent currency" would have appreciated,
by scientific management, to par with
goldyand the country. would have been
saved from commercial bankruptcy and
ruin. The calamity cannot now be avert
ed, but the repeal of an unjust law will
have the effect to restore measurable
confluence to the monetary world and
revive the industries of the country.
-AMqace Monitor.