The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1877-11-30

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United ksetrs hanslA III rom, while ~,
tlrir fss shey ~rsr ~ " rali In lawful
money. wuull he Srrnliatinn anil N
scstsnn, and tvt within III mnnih& after.
wNnl he had svo,ostesl IN ll,e Aenase that
- " rrrMliaiion anil exinrtinn falesly
lat~lrl, IAN nj ID Strengthen the public
rrv-lit" n II wrfr rnssihlr Mr., Ewing
cnnlinnesl) ~ suh2lilnse elsi, INN. tlOO III
ppld fof rrvcnhAch money, ANIL II thni
gcla ~ substituted would rrmain In cir.
cnlntion just ~ grecnhsek mcney, there
would b. no very RrrAt mlAchisf done 10y
the Resumption nct further ilian the nsc-
lc~a increase VI tho bon1cl DELFT ~ ihc
amount II e3tt, m. OOO. hut lhe trouble
wMa that an attempt ID make AHA. NM, !.
fIDO In gulsl tAkr The place III Rrcenlmck
money In thu currency ~nr utterly i'm.
possible. Gold could not remnin In
circulation In thc present condition NJ
the country, and every RrccnhArk r..
deemed was ~ much Withdrawn from
The effective currency, and IT. proper.
donate effect wAs The reduction oi values
HI said thai before the grccnbnck Urn
there never had been kent Atioat In this
country more than e0lA, OOO, 600 oil paper
money. with o005. OOO. 600 In coin, and
now, with e7SS, mn, tN1O ii paper money,
there wns not el6O, OO0. 0DO of gold In the
United States. Since 1890 tho mines III
the country had produced III, 257 ,OO0, 600
I'll precious metals, And yet there WINS
not In tho country thrcc.iliths Of the
little volume I'll coin that there wins In
1860. Where had all tho gold and sil.
vcr genet II has gone 10 pay the debt
ri this country, and there was where
would 60 NIL the coin that could be
scfwpcd together In tin treasury Or
banks. This WAS the great debtor mn
tiOn of tho world. No nation owed out.
side of liz own borders half the amount
which America owed. More thnn half
nj Tho bonded debt of tho country was
held abroad, and there were State, city,
railroad and other debts due abr0asi,
The aggregate coin interest on which ran
from oiOO, OOO. 900 10 el5O, OO0, ono n
year. From 90, 600, O00 10 90, 00O, 900
: year Was ls~ii Tor shipping anil ~
much moro for tho expenses 0f foreign
travel, No that the annual drain ri coiu
from this country WINS from 81 "a, 0O0, 900
10 $3.50. O0O, COO. How wns that paid 7
Not by tho balance of trn,lc. m might be-
said, because thnt balance for tile last
seven years had been u, COG, 00O against
this country. The interest was, there.
fore, m rule, not paid by tho balance
81 trade. II wins paid purity by shipping
eI6, OOO, 900 year u precious metal.
Discussing the preparations for rcsump.
tinn, Here ~ arr" said hc, within
thirteen months ot resumption, with
e733, 1000 II paper money ~
In foatrd and with less tllnn
tlO, OO0, 600 I'll accumulated gold
In tho treasury and banks. lie
declared thAt II this country were entire.
II FREQ from debt, specie payment could
not be resumed without contraction of
the currency by NJ least one.hnlf,
Who're. hc asked, we're gold anil silver
10 b. got7 Gould II be got In foreign
msrketA1 That had never heen done
and never could he done. Tho silver
and gold mines In tho country could not
Ia twenty-five years furnish MI TINT wns
needed even II gold and silver could be-
kept hero. Whether this mnl schcmo
Of resumption wero repealed now Oh
forced on until popular indignation tore
II 70 pieces, resumption had 10 be walt
u Tor until II became possible, and m.
III volume II coin had becn aecinin-
lated IN tho country larger than tho vol.
uuaA o. paper money. Equalization
would nce be resumption. pape,
money might bo brought TO par with
gold and sNll there would not b. rcsuuu,.
ton. Replying 10 Mr.. 0ariieli's nrga.
mcnt that no QUO would want coin on r.
sumption day, and taking up Mr.. Gar
h0ld'a illustration ri thN farmer wht
sold his farm for 1lO, O0O and would moi
tAko his pay In gold hut In bills, he Haid
u was mot question whether ths ls'o
pie want gold or not. II in = question
/ whether tho Jim Fiaka, The Jny uonlds
Tho bankers, The brokers. thu importers
the savings banks, want II, and Hey Ger
tainly will want II faster than the becre
tAry u the Treasury will b ahlo 70 give
gold u them.
Mr.. Ewing spoke u the enormous do
probation II values which hc aitributcs
10 thu Resumption at, and which hc ~
dmAtcd Il one.third ii thu whole. II,
Characterised tho Resumption Inv III
| practical conhscation by law of "a, 5tD,
Ooo, 900 u property. Threc.fonrths 0
oil the classes ii tho country wcrc debt
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