Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1876-03-31

Quantities OF irredeemablo paper money, run In
been IL will never be, otherwise II In in the
very nature Of things. Whom you manufacture
this so-called money by merely printing few
words on clip Of paper, 1t apparently costs moth
ing. You are deluding yourselves with the idon
OF e Smnts Ssy u wS dc
mands the settlement OF accounts. When you
spend such money for the very purpose OF getting
1t out, the widest extravaganza Is unavoidable,
and the extravaGanoe OF q government always Is
the very hot bed Of population and corruption.
The rings will thrive, and the honest men Will pay
the cost. But not only the Government and us
otlcers does II corrupt; still more grlevously Will
it dOm0ralize the people. When, by the fluctun-
tlons of 80 vicious monetary system, the posses
aiOns Of everybody become uncertain from day to
OF circumstance I've made gambler What Is worth
something to-day and may be worth nothing to-
morrow, Is lightly made tho football OF chance,
and when everybody, to save himself, sees him.
self forced to Overre9ch everybody else, tho prin-
clples OF honesty arc easily forgotten. The sting
OF necessity stimulates INSCRIPTIONS greco, aud
the general example silences tho voice OF con-
science. Honest labor appears as truitless drudge
ry, and to live upon ones wits becomes the order
of the day. The history Of Nations is full Of per-
tlnent warnings. american society can escape
such fate iust little as any other, il we food
this country with that kind of money which IN
its very nature carries the poison of false pretense
and seduction
days many startling eases of cmbezslenent, pecu-
lntion and fraud. We have seen Credit MObiller
rings, whisky rings, mail ntraCt rings, Indian
rings, and what not. have denouDced these
things no less earnestly than you But tell you,
hl lheSe thlugS VIII appear insignificant compared
with the corruption and protlgaoy which must in
evlteblY ensus when you put In operation fnau-
clal policy which, in order to "mGke and keep our
irredeemable currency equal TO tho wants OF
trade" VIII oblige the Government TO spend
money in streams for the worry purpose of
getting 1t out; for then reckless extravaganza
with all the waetefulness and corruption lusepa-
raole from II will no longer appear as a mere in.
ctdent, Ii will become the systematic practice OF
ynur Government, the very basis OF your scheme
of finance.
THE Peril or FALSE DOCTRINE
Democrats. do yon ask for the confidence of the
people on tho ground that YOu are enemies of cor
ruptiOn and friends ofecOnomical, honest and pure
eoyerDmenti II go, then make haste TO mark
with the stigma Of your condemnation those of
your leaders VINO attempt TO inveigle you into the
appreciation OF fiuanulnl policy, which by the
force OF necessity will make the Government more
corrupt and proiligate than ever
ventured TO nffirtn that while the Democratic
party puts forth strict limitation of the powers
OF government and Inc suppression OF corruption
and extravaganza as its fret objects, those Demo
Gratis, who advocate an tntlatiOn OF our currency,
are advocating more despOtio and dangerous eX-
erelso OF Governmental powers and a more de-
m0ralizing and oppressive extravaganza and cor
rupton than We ever experienced, thus beTaYing
tho very principles winch tho Democracy most
loudly processes. trust no candid man will deny
that have made good my assertion. The inter
ested partisan may quibble, but no patriotic man
viii close he eyes to the truth.
Mnat excuse, then, can be presented for such a
can SO Daneful policy otter to compensate for
The excuses puJ forth shine by their limsiness.
Here is a very curious one from Governor Allen
himself In one OF his first speeches he said sub
stantially this Noting Democrats, but the Republt-
pie. The Republicans are responsible for 1t.
cbgg' t%aeTei2pe, % ought NOT 70 Why their own
upon US, they must not find fault with us, If we
accept the situation and give them more than they
1T WON'T DO, GOVERNOR ALIEN.
All, Governor Allen, this will hardly do, not
even in pinch. You may not be satisfied with
The past financial policy of the Republican party.
Rp1fnal II m / a "A qal1 ola n n
formerl DO You not ask tho people to vote tor
you ON tho ground that you are a refcrmerl Ia 1t
things and put better things in their plaee4 And
now yOn come and say, that your opponents have
form by givina us more OF III You are opposed TO
all dangerous assumptions of power by the Gov
ernmeut, and nqw yon propose to reform by giving
us more OF that! YOn are opposed to corruption
and pr0tigaoJ, and propose TO reform by
giving of that also Indced, a fine assoI Z
ment ot FeformatOry sweets ~ thai imitation pill.
No, Governor Allen, that Will never do. If you
propose TO reform the eyls you loudly denOunce
by giving us more of them, you and your friends
are not the sort OF refOrmerS sensible mon Will
take to. If, indeed. that should turn out to be the
real refOTmatory spirit OF the Democracy then
prudent aud patriotic men must feel in duty bound
TO turn round and look tor salvation somewhere
else. But. surely, even were | a lifelong Demo
crat, that kiud OF reiOrmatOry spirit should as o
friend OF tho party wen as of my country, feel
bound 70 aid in putting down TO prevent it from
fOrDatOry spirit might at last reform Congress
INTO an insane asylum, the public service, the ma
penitentiary, and the party into a terror to all
honest aud Civilized men.
TIMEs ARE HARD.
But there is another excuse which at
first sgnt appears more respectable It is
said the times are hard; business is Ian
gushing; our Industries are depressed; thousands
OF labOrers are without work; Tire poor grow
Ing poorer; the country Is full Of distress; some,
thing must be done 10 afford relief. All this is true
and there are many well meaning mon who,
troubled by their difficulties. grOpe about for e
remedy.
Yes, il is indeed necessary that something be
done to afford relief The question is what that
something shOuid be.
AS wise men, we must first ascertain the nature
OF the disease before determining upon tho method
OF cure.
The Democratic platform Of Ohio aflrms that
the business depression was caused by the con
traction OF the eIurepcy wrought by the Repubi-
can party. Time and again it has been shown that
this stat ment Is false on its very face. But the
fnfatlonlsts. driven by the necessity Of throwing
dust In the eyes OF the people, exhibit such an
abie-oodied perseverance in misstatement that
shall ouce more take the trouble TO give the figures
from an authentic statement before me.
From toat statement IL appears that in 1873,
when the business crash occurred, there were in
the aggregate more legal-tendcrs and bank notes
out than ever before; including the fractional cur
Tcncy, there were s90oo00O more than in 1872,
S29 100000 more tlan IN 1871 $50 0OO 900 more
than in 1870 s5S 100000 moro than In 1863. over
$50 100000 more than IN 1865, $46O0O.OOO mOre
than in 1867; and even we count tine compound in.
terest notes into the volume of circulating currency
we lind lhnt We had in 1873 the year Of tho crash.
q general aggregate OF $9OOO,OOO more than in 1872
over S20000000 more than 1871 over S51 600 600
more than in 1870, over $56.OOOOO0 more than in
1859, over S2000,000 more than in 1863. And yet,
just the years last mentioned have generally been
called years Of uneXampled prosperity; and when
during all those years the currency had reached
its greatest volume, that collapse came, which the
infatiOulsts will have us believe was caused by
There Is the record. There was ex-
pansion, aud no contraction; and II there was no
contraction, then con traction can not have caused
the collapse in business. That is so simple a
that think Governor Allen should
understand 1t. And yet shall not be surprised
to see Tomorrow an intlatOnist come before you
who, in the face OF these facts and figures, will
affirm that ~ was the contraction Of the currency
which did all the mischief.
THE CAUSE OF THE CRISIS.
What was, then, the eanse Of the crisis OF 1873
the consequences of which are still upon usI /
wonder why political economists OF the imitation
school Will never remember that similar disturb
anees occurred in the business life OF other conn
triesi but two years ago collapse Of speculation
ln Austria and Germany, succession of failures
In England, ani similar things in almost all Eu-
rOpean countries, France being notable cxGep-
ton Aud II so happens that in the countries thus
especially Germany, not only no cOntrac-
ton OF the currency had taken place, but rather
an inerease OF its vOlume partly by the influx OF
coin through the war indemnitles, partly by an
increase OF bnnk currency; While In Franco busl-
ness appears prosperous. although not only heavy
drafts were made on the National resources for
The payment OF the German war Indemnity, but
and invite YOU TO mark tllis-a steady cOntrac-
I!on OF the paper currency las been going on all