Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1877-09-12

quality, they are to be lett to the I
of their own affairs, and j.
he adjustment ftheir own reless "
Without special legislationf" ,.,,ns
'antage Of either a. A. u - .,a.r the "a
r. And so, too - .ainst the 9TH.
ts support :, nils principle places
egis'- -yers Ii opposition to class
.-il,.agion. One class Of our people
IS not to be legislated for to the iniu-
ry of other classes. The greatest
mischiefs known to human affairs
arise from violations Of this principle,
and we should be very careful in our
efforts to escape from the pressure Of
the present hard times that we do
not prolong them by unwise legisla-
ton in violation of this rule. In
dealing with the so-called conflict be-
tween capital and labor we must not
forget that each man desires to be
capitalist; that the capitalist of to-
day may be the laborer of tomorrow,
and the laborer of to-day the capital
ist of tomorrow; that when this re-
versal of positions takes place the
views of the individuals concerned
undergo, TO some extent, q change
relative to the rights and duties of
each other. This change of views,
brought about by q reversal of posi-
tons, show that if the opinions held
by the capitalist before his dethrone-
ment had been carried into the laws
of the land, such laws would have
been unjust to labor, and makes
equally apparent the fact that if the
desires of the laborer now turned
capitalist, had been put into the stat
utes of the State or nation, the enact
ments would have been unfair to-
wards capital. In either case we
would have had class legislation,
always more or less unjust, and ever
the parent of mischief. Our escape
from hard times does not lie in this
direction.
The present hard times are
almost universal. This shows that
our troubles are not incident
to condition of affairs peculiar
to our country. Nearly all nations.
nnsi peopios are undergoing tho
same torments which affect us. We
have full measure Of enjoyment Of
the old saying that "misery loves
company" This old saying does not
present the most lovely phase of hui
mainly, but its verification in our case,
both as to fact and conditions, proves
pretty conclusively that our present
unsatisfactory financial condition, and
tho widespread business distress,
which aff1ict us as people are not the
fault of misrule by the Republican
party. The whole world is under the
same wet blanket that covers us. The
laws Of trade and the ways of COM
merce, the wide world over have
been obstructed and disturbed. Sup
ply and demand are at cross-purpos-
es these conditions must be overcome
and an equilibrium of these laws,
ways and results must be established.
Public confidence must be restored,
capital must be induced into activity,
labor meet with demand for its
handiwork, and all classes, interests,
and conditions feel the magnetic in
fiuence of convalescence as they Join
hands in march toward better
times. Artificial remedies in the
form of more statutory laws will not
bring us to this juncture. They
would more likely do harm than
good. The observing man can see the
conditions changing now. The vast
crops of this country, the gradual but
steady exhaustion of the over produc-
ton of our industries during the
reckless period preceding the panic of
1873 the more healthful and satisfac-
tory condition of our import and ex-
port trade, the adoption by our peo-
pie of more frugal and economical
habits of life and expenditure, the
withdrawal by the war in Europe of
vast multitudes of men from the fields
of production, and their conversion
into consumers, the suspension Of the
grain trade Of southeastern Europe,
the increasing foreign demand for
our breadstuffs and provisions, the
gradually increasing success attend
ant upon some classes of our manu.
featured articles in competing for the
worlds trade, the surprising richness
developed in our mines, the near APP
proach of our currency to the gold
standard, the greater activity which
these causes produced in capital, all
point to the near coming Of better
times. Laws unseen, but felt, unen-
acted by Congress or State Legisla-
lures, but stronger than both, as old
as trade, but as vigorous as time, as
quiet as gravitation, but as unerring
as fate, are moving in their own WAYS
to repair the misfortunes which have
come from our unskillful attempts to
modify them. A little patient and
obedient waiting upon their own pro.
cesses is what the Republican party
OF Iowa would enjoin upon the peo-
pie. And here our political oppon.
ents join issue with us. They would
hasten results by statutory enact
ments which should repeal hard
Times, and compel an immediate re-
turn of general prosperity.
Let us examine some of the pecuI- |
lar notions Of these people. They
declare that the great need or
be country is more money. How
10 this to be reached? First, they
propose to destroy the National
Banking system. Passing for the mo-
nent the fact that this propo-
'ition involves contraction of
he currency of over 100000, 600. let
Is first see what else must come Of Il.
United States bonds are exempt from
axation. This is crying complaint
With the Greenbackers and democrats
# Iowa. Well, on the first of No
.ember last, the Secretary of the
'reasury of the United States held
4 these bonds, $685.. III, 300 to secure
ne redemption of notes issued by the
National banks. These bonds repre-.
emit to their full extent the capital of
be banks. The stockholders of these
anks hold certificates of stock in
heir several institutions aggregating