The Morning herald., 1876-07-24
FUR SHERIFF,
ISAAC GRUBB.
FOR CORONER,
DAVID G. ROSE.
HARD Times, NO HONEY. NJ
WORK.

HARD rIMEss No HONEY, Nc
We frequently hear the remark that ther'
Is no money; "where is it." is the, question
very naturally asked. "Gone where the
woodbine twineth," is the answer given, OF
in other words invested in improbable
ways, locked up in materials that it will
take long time to get it out Of. Every
body feels blue about their business, and it
is contagious; if one business man tells an
other that he is not making his salt, the
other joins him company in the lament.
In New York if Jay Gould goes into Wall
street his face is watched as closely as
though it were an indicator of the mar
kets, and for that reason the great specu-
lator has to remain away for fear
that by some accident he might
look grave and this would be followed by
a tumble in stocks. So it is in every COM
munity; if the merchants look blue, every
body else looks blue, and the shout of mo
money" goes up, and is lisped by every
tongue.
Business is stagnated. Work is dull.
These are facts admitted by every one,
and it will continue to be dull until there
is change in the National administra-
ton. People cannot be expected to have
confidence in the Government, when it has
been plundered of millions by Its high
officers. War has its demoralizing effects
upon trade. 1t takes time to re-
cuperate, under favorable circum-
stances, but we can easily account
for its failure to recuperate after
such an astonishing revelation of corrup-
tion as that which has been made by the
Democratic House of Representatives, as
existing among high officers in the Ma
tional Government. Loaded down with
taxation to support the government, and
then to see millions extracted by official
corruption are tendencies to weaken conf
dence and not stimulate it. There is |
money in the country. People have it; but |
they have not sufficient confidence to make |
Investments, and it is boarded. There is
money in the Philadelphia and New York
banks. As the money articles in the news
papers state it money is plenty" but it
cannot be obtained, except upon the best
security. Here in Wilmington, the cry of
money being scarce is in every mouth.
Yet by the reports, of four banks, for the
month ending June 30th, there was on
deposit in them subject to checks the sum
Of s., ,122, ,23s, ,99; this does not include the
savings banks which also have large
deposits on hand. One of these, and the j
largest in the city, having nearly three {
thousand depositors, and upon some deposit
lays find the amount of deposit getting |
10 great that they are compelled
o refuse to receive any more. I
)ne Of the reasons that mayI Ibe assigned for {
his, is that they pay interest on deposits. '
This is one institution alone. The others {
# course do a proportionate business, and ]
re safe institutions to invest with, or of G
curse they would not be SO we'll patron e
zed. They have money to loan, and Il
Quantities Of it, but it can only be obtained s
lpon first liens. And still the cry of "no v
money" This is really SO only with the 0
Iorking classes, those who have to labor O
ally for their bread. But merchants and j,
have lost confidence in the b
overnment, and will not invest their a
apital, unless they can see some imme- IL
late return. This is where the working a
ian can put his blame for the scarcity a
I work.