, 1877-12-10


sacrifices of MI kinds. There are Thousands
Of cases throughout tho country whore
property taken az security for loaus made
thrce or four yenrs ngo will not bring the
amount advanced On 1t. In many Of those
cases, tho borrowers had invested their
money In improvements OF business which
proved unremnnerativo, md they wcro un-
ablo to meet their interest as IL came due. In
this way, debt OF $1,000 hns grown 10
s1,500, and tho increased purchasing vnlue
Of money and difficulty in securing It l,as
made that debt equivalent to $4,000, while
tho property given to secure It Ia not now
worth As much as waa originally ad-
vanced on II. To force a continuance
Of tho prosont stale Of things will
be to Increase the forfeiturea Of property
under mortgage, md tho Eastern creditor
class will find itself compelled 10 seil the
property at loss to themselves, or assume
It at the depreoiated values 10 l,e misman-
aged by agents, II indeed any aso can be
matlo Of IL. But an indefinite infation Of
the money resources of tho country at the
r"to OF $1,000, 900 woek will throw large
part OF the Increased money supply into real
estate; increased prices will follow an In
ereased demand; tho present debtors will
be able to meet their obligations; tho pres-
ent creditors will receiTo their principal aud
interest; thero will bo no sacrifice on either
side. Decentralization Of silver ia not only
IN tho interest Of those who owe money, Int
likowiso iii tho interest Of those to whom
tho monoy Ia due, though tho latter class
largoly permit themselves 10 bo blinded to
tue fact by ttoir greod mud avarico.
Take tho banking interest. Mr.. Jous
Tuoatraos, a prominent Now York banker,
and publisher OF the Bank Nots Rtporttr,
haa recently made cloar statement Of the
influences silver demonstration is likely to
exert ovor the banks. It will convoy gen.
oral reinsurance to the bankers. The now stock
OF coin Will increase tho RESOURCES OF legal
tender reserve, and the banks will find II safo
to increase tho amount Of thoir circulating
notes. instead OF reducing thon1, as has been
tho tendency during tho last two or threo
years. The banks will discover TINT their
assets, chiefly In the shape Of discounted
paper and the collatorals on which they have
''r-@ -~--f ~--f~N''-bt ~sAV8U " &4hAA <Ap$
had given up for lostw,ll acquire aomo value;
those that were doubtful will become good,
and those that woro considered good will DO
rated 10 that larger amounts Of money
may DO advanced thereon. Tho banks,
instead OF COMPRISING their business, looking
with suspicion upon overy demand for loans,
md doing 80 little rs scarcely to pay their
Ct1rffnE will AHnrt n tfkANuf
policy again, will reach out into commercial
Investments that again promise q profit, will
earn moro money themselves md enable tho
commercial Glasses to earn moro at tie samo
time.
Take tho manufacturing and laborinR in. !
teEosts. II the present depression ahall con.
sinuc, If business men DO forced In great |
numbers into bankruptcy, 1t property-own-
ars be compelled to abandon their city and
farm lands, there must DO a still further fall
[nG.oa in consumption, and with tho decline |
Of consumption comes shrinkngs in manu- |
Moro furnaces must be blown out, |
moro mills must be shut down. mora whoela
stopped, moro mines closed, and the present
number Of unemployed man will be Increased
by thousands and tens OF thousands, I'm.
pccuniosity Is contagious, and those who
have escaped It thus far (mainly tho money.
[endcra) will 10 obliged to yield to II If they
forco continuance Of the prevailing tlepros-
sion. But this samo $1,000, 900 week OF
'olid, shining, ringing silver, which is to mako
.he bankers moro liberal, which is to enhance
.he ya1ue of r,r0nnrtv ,y}io1 ia f, r,ft,o ,,r, |
1uearu bnftar r,rioao ,y1,3ot, ,a J.. 1.m3