The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1877-10-12
CONTRACTION OF THE CUR.
RENCY.


Extent ana EHcrtSOI IL ON N3IueS,
Business aud Prosperity.
From ihs Insurance AGENTS snd Brokers' Magazine
fpF August.
SHALL THIS ryf'uRLIc RE SAVED on 4
MoNARcnv rsTABLisHEDY
The people lnl S2.ls2. .395.h27 United
States i.ul- oi trade. currency, oIistand-
ling 1865. and of course were all employ
Icd. and therefore prosperous ani con-
tented. This currency, though partially
denonetizr,i. not only paid the s"'iicrs
land saved the Union. but was rapidly
,Apprcciaiing IA gold value. Had il iren
free Of sll exceptions aud cloibed with
1.-The same money powers n g"ld. IL would
|ncvrr have bern below gold in tho open
market. Full legal tenders y, any 49,
lla,lishrd naiiun are always Al par IN the
market with gold the ye-r over.
la Is17 hi. nearly 81 2uOUU U0) cur
liency without interest. had besI con-
lilactcd 10 about $6OOo0JnNOo of All kinds.
and over half ~ this national bank
notes. The use of which loaned b, the
government; 10 the banks without right.
Equity OF interest. aud should bc imine-
diaicl, called 10 "a M Outrage on The
luther citizens Of flae country: lcavin.
oniv about s3pDnpnn OF the - 2n,-
luO.uou oui standing. over half nf which
H. islir 80 that The nearly Two ihonsand
two hundred millions ol tools "f trade.
money has hvrn rui down 10 about one
hundred aud fiity millions. to the en-.
creed idleness OF the people aud ru,n-
iion Of the naiion. Why was This done !.
liz ma, be- asked 10 establish syndi-
cai~~. t.ni. gold AMI mone, changers
ring. What i,r> il cnsf the people! III
lhrrrccia,cd yalues alone over $l6tOO.-
600 J. this p"licy - continue. Yes.
lin l-.s he people remove those who. by
vnie> in roi gress. bciray their Interest.
or course shr banks. ~ whom was
lunned ircr nf charge ani of taxes. the
lusr uf asnuf $s5ut1lDnpD. rln afford 10
~ II re,nair lille. for the reason they
draw regular interest also free ~ taxes.
on the amount of bonds deposited a.
security i"r The return Of this 50 called
national hank money MT only that
lihey can buv bonds with this borrowed
monr, a., " hirh The, draw Interest. 80
That ID PAYS them better than to invcst
liz business. for the reason IL is ready ON
demand aud free from taxes or risk.
This gives Them nearly double interest.
The balanre Of the capital the banks have
H. the deposits uf the people reinsinin-
idle. Til. the banks also loan nn cill
Al per cent. Ii the people were not
ruimai hut prosperous. the ns'innal
hanks and .snaicaf-s and stock. bond
aud gold ring, would have fat thing
81 IL. Bui when there is no demand for
labor for the reason tlsa, \" too's ~
trade OF CURRENCY isempIoyca ii romrse
there j. nn consumption or sales In
comes from rents ~ discounted notes.
"a thar capitalists also lose ~ much 10
iL~ c,ni in this Indirect wa, bv the con-
Traction vt values. OF consumption. m 4
iof demand of the tile mass ~ they
gain ., interest ia thr money monopoly
given "a them.
In view ot what has hcrn done since
1865 ~ t's. money changers through
HE uani,n'a'in OF the treasury Of the
cov@riu.nt. by which The ariu,i work
.uy cutrenr, has .,ceu reduced from
nearly $4,000 O u. zoo to Sl50.MON,U. il
Is wonder revolution. dissolution ot
lie republic aud morsrchs have MOI fol-
lowed. la M, other nation the people
would have rcvolicd and taken the
clsnccs Of revolution. Must il come 10
lihis hcreg Must our cherished republic
40 down 10 satisfy the greed oi those
who are valiant ia peace and towards
IN war. Shall this country he 50 man
laned Tint tile interests OF fcw anti-rc-
publican capitalists opposed 10 the right
lof suffrage of the masses. in favor Of =
noncyed sristocrac,. shall ruin the IN
Itcrcsis oi The people? Was this govern
ment established aud maintained aftrr
eisht Years of revolutionary sacrifices
aud blood. and four years of domestic
struggle, for mnnc,ed sri-iocracy. or
Was ID established, AS Mr. Webster says
liz was.
TO protect this industry Nabcr. the
lprudurimg cause Of MI prosperity. "a
lgivc IL better encouragement ani srruri-
IN. "a this very cnd, with this precise
Iemd in view. power was given 10 con-
lrress over The currency and over the
money Of tile country
As a late patriot truly says. a'tcr M
exhaustive exposition Of the evi's ~ The
finances since 1866. by which idleness
Twas forced. demand and values frsriully
coniracIed. the people ruined aud The
Irepuhlic ~ danger;
Though the influences that nrc now
working against the rights Of labor and
1.-The true interests Of republican gov.
Irrumcnt are insidious aud concealed
under plausible reasons. yet the danger
TO our free institutions now u no les
than ~ The inception Of The rebellion
!, That shook our republic 10 its center. j
IA only another olig,rchy. another en-
I shaving power that Is asserting itsel
, against The Interests 81 the whole people
,.lTherc l. last forming ia this country ~
Iaristurracy OF wealth the worst form
Iof sristocracy that CO curse the pros