The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1877-07-20

The people OF the United States are
lnow confronted with problems the salts
factory solution Of which will tax 10 tho
luttermost limits their most exalted
abilities. Universal bankruptcy starr-
them in the face. The forces which will
crush them are IN operation. There
was an abundance Of money. Then
every body was ri work. The music oi
machinery encirclcd the land. There
were evidences Of progress and thrift on
every hand. Capital and labor were in
harmony. Confidence was enthroned
IN city and country. Mendicancy was
scarcely known, and tramps were not
upon all the highways and byways OF
travel. II WAS an era Of national pros
lperity, the high noon Of successful busi-
ness enterprise. But change has been
wrought. Idieness has dethroned labor.
apathy has taken the place Of activity,
and, though the harvests have been
|bountifui, destitution and starvation are
the guests Of millions Of workingmsn.
Mcndicancy has increased ct a fearful
ratio. Tramps are still multiplying.
Men Of means and enterprise have been
compelled to surrender to the inexorable
demands Of contraction. Machinery
stands still, and rust corrodcs the shin
ing shaft. Only one class Of citizens
have been benefited money sharks
and those who bought government
bonds. And to create an aristocracy Of
bondholdcrs this sad change ia the af-
fairs OF the country has been wrought.
The cry was set up for par money"
and 10 obtain II the country stands to-
dxy on the verge Of ruin. The govern
ment created the ''greenback" and made
il 'slegaI tender" except for certain
debts due the government. If there had
even been an honest desire to make the
grcenback .par money il could have
been secured in q day. All that was
necessary was to make 1t receivable for
all debts due the government. Instead
Of this, = currency that cost the people
nothing At all has been crystaIized into
bonds costing millions, in the shape Of
interest. But the miserable heresy not
stopping at this, q further demand was
set up for "specie payments" ''ise-
sumption became the watchword. and
the money sharks stood ready 10 profit
by the authorizations OF the people. To
resume was to contract: 10 contract the
currency was 10 destroy values, bank
rupt the people. paralyze business and
enable the n,oncycd class 10 grow rich
b, the impoverishment Of the masses.
The process worked like charm, and
kept well abreast of con-
II has been shown that from
1894 to 1877 contraction amounted fo
Sl.3l4. .6O3 !U98, and for the same period
business failures reached Sl,373,5iO,a1s.
This contraction Is still going forward.
aud failures are as certainly increasing 4
III fact the outlook Is becoming 50 in
haggard that the people. without
regard 10 party, are demanding changcl
Of policy. John sherman, Hayes's sec
retarv OF the treasury, regarding him
self ~ the financial antocrat Of the
country. has determined 10 interpret The
law Tor himself and to 60 forward regard
less Of consequences. The statements
put forth by the comptroller Of the cur
.ency are well calculated to mislead the
public. and are caught up BY those VINO
labor ia the interest Of the moneyed
class 10 urge John Sherman forward in
his infamous policy. In his late report
John J. Knox. comptroller Of the cur
rency. states that on the let Of July,
1877. the national bank notes and green
backs In circulation wero As fcllowr:
National bank notes out
standing, e3i5.620.947
outstanding, S59.76s,sS2