The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1877-10-12

greatly in excess OF actual consump-
ton. Not so during the war. The
conflict took over two million OF meu
from the producing force of the coun-
try and employed them In the dessruc-
ton of our products. It taxed our
productive energies 70 the uttermosI
10 supply as fast az the belligerents
could destroy. But where was our
market? Who bought aud paid for
goods? Why our market was al
home; our customer our government,
and she paid by giving her notes. In
other words we manufactured to the
extent of our capacity, bought our
own productions, paid for them with
our own notes,and destroyed them with
our own hands. Well, when the wal
ended over one million of the produce
destroyers returned to productive en-
ployment and our market was closed.
We quit making because we quit buy
ing; we quilt buying because we quit
destroying. When the smoke Of war
passed of we found ourselves owing
heavy debt, and all that we got for
It swept away. After terrible de-
buach of speculation we saw the
necessity of economy and commenced
70 practice it. II owe twenty-five
hundred dollars on my farm appre-
ciate its products from year to year to
the payment of that debt, but / I ]
owe nothing, l appreciate its products
to the purchase OF such articles of
skilled industry as promote the COM
fort of myself ana family, which
gives employment to the labor neces-
sary In manufacturing what thus
consume. In other words, borne down
with heavy debt we study how TO
avoid the consumption of Industrial
products. Freed from debt we study
how we can most advantageously con-
sumo them. The tendency in one case
is to paraIyze labor, and in the other
case to. stimulate iG. We have been
paying our indebtedness with great
rapIdity. Had we made haste In this
direction more slowly 1t Is probable
our skilled industries would have suf-
fered less. 1 believe we should still
have the respect of nations and the
confidence of mankind, as fully as we
enjoy them to-day, had our payments
been slower and our Industries health
Ter.
1 believe that the integrity of the
American people was aud is SO
we'll esteemed that such conduct on
our part as eviDced purpose to pay
the debt so soon as that might be done
by u people of our thrift and enter
prise, without fatally Wounding our
energies, would have rendered it un-
necessary to declare by congressional
enactment that we would resume
specie payment in 1879. But there is
no use complaining about the ineVita-
BILE. Even If 1 am correct the mis-
chief is already done. think con-
gress should exercise great caution in
legislating respecting our finances. l
should greatly deplOre any derange-
depreciation of the greenback. 1 re-
gard it as the most faultless medium
of exchange known to the commercial
world. / am, however, unable TO rid
my mind of the conviction that con-
gress should at once remonetize silver.
1 cannot persuade myself that silver
producing country, owing a burden
some debt payable in gold or silver
coin of the standard existing when the
debt was contracted, exercises either
wisdom or justice when it deliberately
strikes down one of its great resources
of payment, and thereby deals a dam
aging blow at one of its most valuable
productions. have seen it estimated
that the government can coin forty
five millions of silver per year.
Doubtless this is 8 great exaggera-
ton, but be it what it may it affords
US additional paying power, increased
resumptiVe capacity. Why should this
paying power be annihilated? We
produce the silver from our own hills
and mountains. Why should we strip
1t OF marketable characteristic, and
thereby impair its value? Instead OF
demonetizing It the government should
have used Its influence with England
and Germany for the maintenance of Its
money character. It is urged with
great FEASIBILITY that If silver is re-
monetiZed, 1t being worth less than
gold, all payments made to US from
abroad, all duties on imports, and in
fact all other payments will be in sill
yer to the actual exclusion of gold
not only from circulation but from
the country. 1 confess my mind is
not wholly free from apprehension re-
garding this important subject. But
l am strongly inclined to the belief
that no such misfortune will follow
For eighty years we have had the
ment of such results. When silver
was demonetized it was robbed of one
of its marketable features, and depre-
citation was inevitable. Restricting
the coinage to gold exclusively had &
tendency TO appreciate the gold dollar
that is, to give it greater purchasing
power. Thus the act of 1873 had 8
twO-fold operation in producing the
margin between gold and silver. Re.
monetiZe silver and the equilibrium
will be restored as naturally as depre-
citation followed its decentralization, and
the good effects will soon be perceptiblt
in the stimulus thereby given to al
the business interests of the country
The country has q right to expect o
the next congress that its wisdom and
energies will be employed in promot
ing Industrial activity and Commercial
prosperity rather than devoting then
70 partizan politics. Hate, passion
and strife beget ruin; peace and goo(
fellowship promote prosperity. How
ever distasteful to some of US may b
the southern policy of the administa.
ton, it is now beyond control. It IL
already executed and we cannot avoiC
1t If we would. When We admit thG
purity of intention and exalted pa.
triotism of the president, 1t is wOrs,
than fOllystO allow ourselves to swell
Will rage VI grow O1dck Will p&SSlCu
If any of US really feel that there ART
not sufficient cuss words known to thu
English tongue to do the subject jus
tice, it were well to submit in silence
Let US hope at least that it will havC
| a happy issue. Let US do nothing Il
thwart its possible success. 1t is nov
the dictate of wisdom and policy tina
we give patient and hopeful tria
that its failure may be traced to othel
| hands. 1t will bear bitter fruit in
deed If magnanimity shall be takel
for imbecillty; If our olive brancl
shall be interpreted as q surrender o
that which was secured to US by tn,
blood of our kindred. AS for myself
shall rejoice If it shall give as
| future of order in lieu of the chaoti,
past, peace instead of strife, industry
instead of idleness g, enjoyment of tn
same freedom in South Carolina a. II
Kansas.
The administration that will securu
to strife-worn people such happy re
suits: that shall supplant passion will
amity; that shall beget in every par
of eur beloved country q sincere re
spect for the old flag; that shall inspir
universal devotion to the Union and tn
l constitution as 1t is i; that shall make
| the war wasted portion of our land Il