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

ries around her There ts o striking lesson bo-
fore us. No wise man VIII study Il without profit.
Now, IL heing conclusively shown thnt tho de-
preston Of business was not brought on by oon-
traction OF the currency, but by causes which
always produce such results, the question recurs
whether an Imitation OF the currency will furnish
inc Just as wise as ply sician who would treat q
case OF overloaded stomach as Of starva-
tion.
Sometimes you viii observe when a man Is III,
and some medical tyro tres TO cure in tho wrong
direction, that nature makes an effort 10 right
ITSELF SOFT is also with the diseases Of the body
economic.
THE MONEY IN THE BANKS.
You say that, although the banks in the bust
ness centers are full OF money lying idle for want
OF employment, we want more currency. I tell
as much as it likes without any further act OF
Government. According TO law, every one of you,
cessSfy f capital caS start bank Of issns eeS
eral license TO that effect, through the free-bank
Ing Get was given by Congress last winter. We
heard so much of the West and the South wanting
more local circulation and starving for greater
banking facilities. Now you can make yourselves
You can issue any amount OF currency. But be-
holdi the currency will not initiate one
%So ca@or AnH yOu mUrs gSghy PaO.
do not lift finger to create more. Why noti
Here is reason given by the Cincinnati En-
quirer "Ihere Is not currency enough IN oircula-
tlon TO buy the bonds to deposit with the
National Government aud obtain from it NatIonal
currency in exchange." This is genius. It ranks
with tho most brilliant financial uttcrances of Gov
ernOr Allen himself
But 1 appeal TO you, business mon, lnborcrs.
farmers, Who honestly desire to do right and look
up TO your party leaders for instruction.. If you
want an instance of the impudent, insulting as
surance with which these men depend upon your
being too ignorant and stupid to tell obvious fact
from obvious falsehood, look ut this: Here ia the
great representative organ OF the Initiation Denioc-
racy, the tabernacle OF Its brains, the fcedingppe
OF its wisdom; and now, while everybody knows
that millions ana millions of money are lying un-
employed in the bnsiDess eeniers OF the country,
East and West looking fortnvestrnent sufficiently
pyprVDO0Y kuOws
city in the land there arc dozens OF capitalists
the creation OF bank paper issues II It profit
able; while everybody knows that there is scarce
" g town of respectable size without men of means
fully able to form combination for that purpose
tnat organ, fighting tue truth as its personal
enemy, cooly asks you TO beliege that thore Is not
purchase of bonds rs basis for further National
bank lssues. When read such things do not
know what to admire most: the audacity of tho
inventors or the pitable weakness OF the in
ventiOu.
But the absurdity OF that statement appears in
its full glory when we look at oil the circum::
stances OF the case Not only dif the business OF
the country not show that 1t needed more. when it
refused TO issne more in spite OF its opportunitles
but proved that II had than il needed by
rend3ring a iarRe portion OF tne pank currency IN
circulation. On tho LIST OF July OF this year new
currency had been issued to new and old banks
amounting to s7,7s0,Oc0i but, according to letter
addressed to by the Comptroller OF the Cur
rency, S23,579l34 of legal-tender notes have been
deposited with the Treasurer for the purpose Of
retiring National bank notes under the act OF June
20, 1874, while under the redemption system
created by the same act s. 100000 OF National
bank notes have been Tetired-by far the largest
part OF this reduction taking place in the West
aud South. which, we are told. were starving
for moro circulation. By the 18th of September
that figure had risen 70 nearly twenty
nine millions. How thisi The business
OF the country, rs they tell us, suffering most
terribly for want of currency, and that same
bhsiDess Of the country not only not accommo-
dating ltseit by Issuing m more When it has an
millions OF what it has.
Let the ENQUIRER explain. Perhaps that expo
n w will sou M. ne N-a
have not curhoueY enough, to keep us from giving
up that which we have got.
not contraction by the Government, not contrac-
tlon by the Republican party, not contraction
contraction of the currency voluntarily set on foot
by the business OF the country when that business
was at perfect liberty TO choose expansion well.
TO carry out the somewhat homely figure, the dis
eased body economic refuses to take the medicine
@ by qcsS; nature makes an enort 70
right ltSel1; tne ovcrcharged stomach begins TO
give up ITS undIgested food and diseorges cur
rency FOR which there is no legitimate employ
ment. That state of things would seem well cnl-
cuiated TO convince any candid man of the truo
state Of things. Bat tlc imitation doctors, nothing
daunted stu IN spite OF ali this, insist upon trent
ing the case one OF starvation, ana PROPOSE IL
the patient refuses 10 take 1t willingly, to ram
down by force still more OF the ndigestibic stud.
Ihey evidently belong to that class OF doctors to
whom the sale of the medicine is more important
than the cure OF the patient.
PATENT ELIXER RESTORATIVE.
And what good do you promise your imitation
medicine will dot a patentelxir adv ertisement
could not be richer than the defamation of It's
every man, woman and child Is to have plenty
Of money; all debts are 10 be paid by sort
Of selfactlng process; every mine, every factory,
every mill in the land is 70 be nj In full blast,
and thousands OF new establishments will spring
mp on all sides; they viii produce an infinite anan-
lily of goods, and for all they can produce iherc
VIII he a ready market; every body viii want TO
buy everything and have plenty Of money to do
II; the laooriug man will comllnand the situation;
he Will have 10 Work less and set higher wagCs
" n le
get richer and poor get poorer. then the rich will
get poor and the poor get ricn, the "mOney power
Will be broken, tor money WEI be cheap money. it
Will be "the peoples money" and the more Of it
the better This sort OF talk and even wilder than
matte asyluns, but on the public platforms OF
Ohio, put forth by, men pretending TO be the
the strength of these very promises, attempt to
take control OF the destinies only OF OhiG but
OF the great American Republic.
A SAD SPECTACLE.
Is 1t not sad spectacle indeed 10 see, not only
public men reckless enough thus cruelty to mock
tue credullty OF the poor and needy. hut multi
ties instead of repelng the insult thus wantOnly
offered 10 their good sensei An irredeemabe pa
Imitation the relief OF the poori | entreat you,
laborine men, poor men, glyo me
minds for once cast aside prejudice and party
passion, and look s0berly ut the facts
MARKING Up THE GOODS.
Suppose we issue more currency. as the Ohio
the volume OF the currency equal to the wants OF
trade;" In other words, we embark in n course OF
imitation. viii not argue here the constitutional
nOnt, whether Congress has the power to increase
the volume of Greenbacks beyond four hundred
millions, and whether the Supreme Court, as
ex poet 1t would, might declare such an act void
ana of no force. Suppose it can be done without
any legal impeachment. How Will il operatel Here
ID a capitalist, rich man, merchant OF abundant
means, or wealthy spaculat0r. In the morning
he takes up his paper and reads; Congress has
passed an act TO issue another hundred or
two hundred millions OF leeai-tenders, with pros
pect OF more" He knows, as q matter OF course,
that thsreup0n the premium ON gold VIII rise; the
purchasing power OF the greenhaek dollar will de-
crease. The next piece OF news he gets In from
Wall street is: Gold is going up and likely to rise
steadily. What does he dot He begins az once TO
trim his sail to the wind. He seeks o way 10 take
advantage OF the fluctuations going or atill In
prospect and being q man OF means, commanding
hundreds OF thousands even millions, he easily
lnds that way II he is cautious man, he has, OF
course lent out money given credit only short
lime, and he at once calls In the money due him
with rigorous severity, TO save himself from tho
effects OF depreciation. The debtor may groan,
)ut be will have t0rpay 90 into bankruptcy, for
The rieh man saves himself before he storm, ana
puts his money INTO investments not apt TO he un-
avOrably affected by The fluctuations OF the cur
rency. III he be a merchant, no VIII at once put
lp his prices 60 provide against the depreciation
lf tho currency and sell only at large profits and