The Jasper weekly courier., 1877-09-21
Hard Times The Remedy We
Want A National Policy.

Hard Times The Remedy We
Want A National Policy.
lTo The Editor q ,hs U. y. Economist.
SIR I'll have recently made an exten-
Isive tour through the country, from
New Jersey 10 Minnesota. ! have had
my eyes open. aud have come in contact
with many Of the better class OF the COM
mon people. Everywhere the signs Of
distress and financial ruin are unmista-
|kable. Thousands Of men, willing 10
work are unable 10 find employment.
Large manufacturing establishments,
|iiIIed with costly machinery. are as quiet
las the grave. Those that are running
larc running 10 only about one-tllird
their capacity. Many persons who, a
lfew wears ago. were IN afllucnce, are now
lin want. We doubt whether such wide
I-prcad ruin ever came upon people
lsince the world stood. in 30 short a pc
lriod " in time OF health, peace and
lplenty. The recent strikes were but
leruptions Of dangerous inward disease.
And the evil is constantly and rapidly
Ion the increase. There have been more
failures the last six months than In any
six mcnths since the panic began. I'm
lees an efficient remedy is speedily APP
lplied, the next six months will witness
still more The causes which are now
Al work will bring about a general bank.
ruptcv Of all who are IN debt. This
class comprises nearly all by whom the
business Of the country il done. Proper
lty of all kinds Is fast losing lis market
able value.
To apply the proper remedy. We must
Ilascrrtain the cause. Many predict bel
tier times because we lave abundant
lharve-ts. But when. within the pasI
.ltcn wears. have our harvcsts failed! God
has given us plenty. You cannot cure
s siarved consumpiive by giving him
lgoon food in abundance. You onls
render him little more comfortable foi
the time being The body polite i
Thoroughly diseased. Scarcity Of food
u ould add 10 the horror OF the situation
lbut plenty does not remove IL. Wha
practical difference does IL make 10 ;
man who has no money. and no possible
, means 10 obtain any. whether -four Il
twelve dollars barrel or six dollars |
barrel? II aggravates the situation 4
see people starving in the midst 0
lplenty.
found In present or past extravaganza
This is common but mistaken opinion
, Wear opposed 10 extravaganza IN ever.
form. I;ut cxiravapancc does not dcs
: tro, business IL promotes Il. The mos
that can be claimed II that IL disturb
the wealth that thriit accunulatc>. III
cxirayagant proprietor becomes work
man: aud tie prudent workman be
comes o proprietor.
The cause Of the hard times is foun,
imainly In the
lwRoS0 FINANCIAL POLICY or TIE GOV
W, ERNMENT.
III AZ long as our public debt was largcl
distributed among the people, in III
form OF currency, We had good time
: business was active: every willing Ian
found employment. Public burder
lWcre chcerfully borne. AS fast as th
Icurrency has been called In, aud bono
Slbcaring interest and payable IN gol
have been issued In its place, gener
depression has followed. Many million
lof dollars have been taken from the Gu
.rency Of this country, where il was d
40 Ing business. employing labor and pa
q ling taxes: and put IN bonds where
docs no Ousitlcse uUu Vale uo NHAts, ~
|employs no labor, aud produces nothiI
hut interest TO the holders and mise
= 10 the country. This OF itself Is enou:
: Ito make hard times.
France passed through an exhaust
- foreign and civil war. She had not on
her own war debt 10 pay, but that
lacr,nany also. Yet France Is fina
in- Icia,ly the most prosperous nation In I
|. world. Her people are not more ski
Iful and industrious than ours; her q
4 is not moro fertile, her mineral rcso,
Gee nothing like as great. But Fran
has, for each inhabitant, three dollars
Icurrcncy 10 our one.
Ice. The depressionist says, 'There
plenty OF money. The banks are full
it--ready 70 loan on good security
. cfbusiness was entirely dead, there wov
..,. e',. be too much money. Business is NJ
hare 80 paralyzed that II requires less a
mes less as Il 10 gradually dying out. Ma
'us. " ho, few years ago, used hundI
! dollars . day, now manage to get ale
with enc or less. When we had