The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1876-02-11
GtmGatelLiqenter:
Mr.. BIaIne's speech on The Cur.
rency Question Yesterday.

The House Of Representatives being in
Committee Of the Whole yesterday, the
Hon. James G. Blaine delivered before
that body his expected speech on the fnan.
cial condition Of the country. The speech
in full, as furnished to US last night,
would make fully five columns in the
ISrELLIoEScER, and the hour at which
we write is too late to insert SO much mat.
ter on one subject, to the exclusion Of
other matter awaiting insertion.
We have hastily run over this speech
Of Mr.. Blaine's, and II strikes US rs ope
that will attract general attention. its
drift Is Of cOursc strongly sgainst inla.
tion, and on this point Mr.. Blaine Is
strong both logically and historically.
Referring to the financial condition Of
the country at the close Of the RevOlu-
tionary war and its condition to-day, he
shows that in 1859 the property Of the
entire thirteen States was only valued at
GOO millions Of dollars, and YET the peo-
pic had then a debt Of 90 millions Of dol
lars resting upon them. To-day the
single cities Of Boston and Chicago can
boast property exceeding the wealth
Of the thirteen Colonial States in
1859. At that time the values Of
the whole country averaged only about
$3.50 per capita, while to-day they aver.
age $500 per capita. To-day the total
debts Of the American people, National,
State and municipal, are not SO large in
proportion to their property as was the
National debt alone in 1890. Our wealth
from that to the date of the census Of
1870 increased more than five times as
rapidly as our population, aud it is now
increasing with continually accelerat-
ing ratio. The annual income and earn
ings Of our people are larger than those
Of any European country, larger than
those Of England, or France, or Russia,
OF the German Empire. Their annual
INCOME exceeds six thousand millions in
Iii al J,,,;,o eo,rciJ r.vsr,e. and
revulsiuns is steadily increasing.
In view Of this fact Mr.. Blaine con
tends that it would be an unparlOnable
weakness in the American people to turn
their iace' ava! IRON 'r'c'e resumption
and launch ont upon 4 sea Ol imitation
I, Would he a crime AGAINST the pilli,
81 -. ..ol;, e Lo .,u,,,y 4.
I"u "I" =, -,
. showing the disaster "l'ich " "o"'u gu
tail, Mr. Blaine cited the fact that in The
snri,g If lsGn the SlJ0,OOO 900 of lcra
,ar;Ios ,,,on ;..roJ b,d \ o,.a,cr rurcba,
'e''ue' ''''" ''7'',' '''" $50 $50
ing power than tile SsiO1o9O,voV III circu
lation in June, 1861. For instance, it
1879 tho sI5O OO0 600 oi papcr woul,
-. ,,,-.L.aI s,,-ooo nno ., Ia
"a,e Pu.e.'. $tl''VVV,VVY ~, w, VI e'''
WhiIe IN 1914 tue Sio1"VV'VVO "l P'pel
would only purchase $1,000, 900 in gold
And. said Mr.. Dlainc.
Anu, SaN 't'' ''","'' .
III we had not hxed The loGr'hnndreI
million limit, but had gone on l.'nInsad
ditional amounts according 10 ihe want
VI sIaue na,,i =, ~" 81 ru Gaaa. n." 81" S s '
,fi ' l. - 10, H., s, oaai, s,,.,a,s;,,
would have been iha! al each successive
imitation the purchasing power "i iie SO
gregatc mass would have been made les
and the value oil me whole would nav
gone down, down. III II reached tha' pom
oi utter wor'hlc-she'' whIGh 80 man! Iih
experiments nave rGacAeu oelOte' an" th'
Iegai'tenueF, WIN all ~ vast cAPaciiy 10
good ~ great national 'ri7lI, ""ui'
nave 'aseh Us pace ~ history n'ol.s'iu
oI tue Ffehch a,Sisnal r anu INC Sohtineil
tai currency Inc iourIhlhIteI'hiliIiol
!mit haPPiIy Sa'eu Us 'lat "ifciIl OK ''
rIence' anu NJ once caused ihe icgal.trhIc
10 appreciate but' unwilling To- learn y.
this striking TACT, the inhlIioni,tH inri'
upon scheme Oi expansion which "oul'
speedily raise the price OF bonds 10 un
precedcnIed figures, and by the time the.
should succeed in purchasing those thA
4 - ...N