The Portland daily press., 1876-09-01
The Hard Times.

Mr.. Pillsbury in his campaign sheet COM
plains of the dull times and the stagnation in
business as if it was confined to the United
States. Mr.. Pillsbury and every intelligent
man knows that the business stagnation ex-
tends to every civilized nation in the world,
Nowhere is it more severely felt than in
Great Britain. That great nation has no
great factories by the score have closed. and
men who were princes in wealth few years
ago have suspended. The same is true in
France, Germany-in short, everywhere.
Our neighbors in the Dominion despite the
fact that the Government has undertaken ex-
tensive internal improvements, expending
millions, feel the same depression. All the
great industries are at standstil the world
over. When ship-building fell off last year
in Maine it declined in New Brunswick.
With us an inflated currency is the great
est obstacle to return Of prosperity. There
can be little real prosperity until business
men can calculate on a fixed value for dol
lar in the money of the civilized world. A
paper dollar which to-day is worth eighty
seven cents in gold and to morrow ninetY-two
mate trade into mere gambling. 1t throws
out of business tran sactions experience, cal
culation and skill. 1t begets distrust which
drives the producer, the manufacturer, and
the merchant out of the legitimate channels
of industry. The capitalist locks up his
money, which he feels that the chances are
that he will lose if he embarks in business or
loans it to Others for that purpose.
This country must adopt the circulating
medium of the civilized world to have its in
dustries quckened and its commerce revived.
The Republican party has fixed day when
the paper dollar shall be redeemed with one
of gold. 1t has been said that the nation
will pay its notes in the money of the world
January l, 1879. On the other hand, the
Democratic party declares for the present un-
certainty by saying that no time shall be
fixed for paying the national "for-value.re-
ceived" in the money of commerce. 1t
protracts the period of uncertainty and con-
sequently OF business depression.
Again, the United States needs market.
1t produces more than 1t needs for its own
use. Where shall such market be found
Where better than in the South? There are
four millions of people who are small consul
mers in manufactured goods. The Republi-
can party is in favor of the education of these
millions. 1t would elevate them, infuse into
them that self-respect which is an attribute
Of intelligent manhood. This will make
them consumers of the products Of skilled
labor and furnish market for the North
near at home. These millions are the only
producing class in the South The greater
part of the others are idlers. Make these
millions of Southern producers intellgent'and
they will send into the markets of the world
their valuable products of the soil in vastly
greater quantities. The Southern Democra-
cy is opposed to the education aud eleva-
ton of these four millions. They would re-
duce them to a state of peonage scarcely bet
ter than the slavery in which they have hith-
erto been held. They are opposed to their
education or any education of the masses.
In such states as they control, the Democrat
ic leaders have practically absorbed the free
school system and used the school fund for
other purposes.
We leave it to intelligent men which party,
the Republican pledged to resumption, to the
education of the colored people of the South
or the Democratic, practically opposed to re-
sumption and to the education of the negro,
affords the best hope for the revival of busi-
ness and to bring the hard times to an end
in the shortest time.