Carson daily appeal. [volume] (Carson City, Nev.) 1873-1877, 1876-07-13
THE BUSINESS SITUATION.

If Senator Jones' deductions are cor
rect, the very serious condition Of the
debtor class of the country is the first
cause of tho existing depressed state at
this time prevailing in all directions.
There il SO unsettlsd a relation between
debtors and creditors, or. rather, be-
tween that part of the business commu-
nifty who, in order to carry on great en-
terprises, establish extensive msnufac-
tories and handle large mercantile ven
lures must have credit. and the capitalist
class, that all such enterprises languish,
and mechanics. operatives and laboring
men are ont of employment and suffer
ing great distress. Moreover. these who
owe large sums Of money are denied.
by stress of the present condition Of
affairs. an opportunity to relieve them
selves OF embarrassment As to the
soundness of the proposition to remon-
etize silver in order to bring on an ulti-
mate allsviation Of this condition of dis
asters, while we have great faith that
Mr.. Jones is very like to be right. We
are not prepared to express we'll set
tied opinion. But that the money OF
the country is il the hands of tho few,
aud that these who need money to de-
velop new enterprises and new channels
of industry canno. find needful accom-
modations is doubtless but too true. If
this were not the case We should have
knowledge Of a different state of things
in Wall Street. Money was never so
abundant there As now. At the same
time. real estate has not been for many
years so Deprecated in value in the
cities of the Atlantic ses-board as at
present. The looms Of New England
are silent; the furnaces of the middle
and western States have grown cold;
ship building lansuishss; commerce and
railway extension are cramped; mechan-
les, miners and urskilled lsborsrs are
idle. Monsy-lenders frightened by the
depreciation of real estate and fearful OF
being obliged to receive the return of
their loans IN a currency OF less value
than that which they have to lend, hold
fast to what they have and ard wary OF
taking any risks. The debtor class,
forced into idleness, present the specta-
Gle of q vast community absolutely with
out the means of prosecuting what they
must needs do in order that stagnation,
unproductiveness and wide spread
penury and want may not prevail.
Statesmen Of the west tell us the hard
money men OF the east. demanding I'M
possible terms of their creditors, have
brought on these distresses: eastern
statesmen declare that imitation is repu-
diation and that the fear of imitation is
the cause OF the trouble; and political
economists are as much at outs as the
wranglers and hair-splitting disputants
who squabble over the Tariff Question.
The time is ripe for that great mind
which shall be able to grasp the situs- |
ton, and conprehending its phenomena
and its needs, devise such fabric Of
speedy alienation through legislative
action as shall lift the debtor class out
of its embarrassmsnts and once more |
set in motion the wheels of universal
and benefcent industry. Let US trust
that this happy solution OF these vast
problems may be reached before the |
coming of the time when this great i
labor famine. this tying of the hands OF
industry, shall be SO disatreus and un-
bearable that the necessity for alternative
legislation shall demand system OF re- |
lief laws by whose provisions the entire
burden OF debt shall by one sweeping |
enactment be lifted from the people as
load no longer with safety to be borne. |
Let us hope that another alternative than
that OF wholesale reputation as logical
corrolary to wholesale bankruptcy, may
soon be found.