The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1877-08-24

ar ielfv'e na iNM hf lrF'
n.nrial yl-ited Hliun aii
uStr -i~ N uli n NA artN
iriltt4tes nf rHiA Hr H ryrrF h4Ntl
f astrnn ihe rfaMnnh ai enc agti-
nsts prt TIE hnl FilNfn- hfvr fpllnw
NY. sslun,, N rgpi. ,nrrrSsinn nnli thrs
are numbered ny ihrAS aids anu t'ia NJ
rect losses mount np AZ millions anN
hundreds ef millions. II w possible thar
thr .iNv touids TIE i.nlh.rhiid~ hnA
members IN Sxntlirsir~ comprehend iAr
vast magnitude M million. niA billions.
INIT II T. sale az ~ay rhrs ihe great mass
81 tnc people do hnt grasp the ma.hi-
t,dr ~ such sums. We real With
an.axenicnt and alarm D! tho terrific va-
la,Mitie- caused vs. earthquakes. when
cities disappear aud uholr communities
lire swallowed up. Tie effects oil fue
unseen power Are seen aud iclf. the lu>~
estimated. and The people submit. he-
sansr they raa NOT ptt forth amy CON-
ssarrA. power. Iint no earthquake o.
modern times has been a destructive ofl
property A. ghf radical curse of contl1r-
iinn. the rcf curse OF John sherman and
ii> radical predecessors IL l. The >irych-
nine of business: II kills. kills certainly.
kilS with awful distortions aud cramps.
And ~iill The radical doctors prescribe
contraction: and still the work OF busi-
mess death goes on. This horid practice
was commenced III 1865. The rich de-
manl ii. The country was recuperAtimg
Business was brisk and prosperous. In
tlustries were active, and the people
ware employed. Then commenced the
cry or contraction resumption "
hard money : honest money. and
20 Oh through the whole vocabulary OF
financial clap-trap. But the rich pre-
vailed. Laws were enacted and laws
repealed. The poison OfcOntraction was
dealt out with liberal hand aud ruin
was Tie result. aud still tho financial
uEackS and knavcs demand moro strych-
nine. more paralysis. more cramps. more
failure. more death. and the horrid dance
went on. Factories were husbed as ii
crushed By thnnderbolts. Active busi-
ness men STOOD still aud saw their means
disappear without the power 70 arrest
the work OF destruction. Failures null
tiplicd by thousands and tens of thou
sands until the sum total oil the losses
since the work OF contraction com
nenced exceeds Sl,5Oc. 100000. Not con-
tent with this John Sherman's policy
demands still more contraction, the
bondh0ldcrs demand contraction, the
money sharks demand contraction, and
John Sherman bows to these demands,
and contraction goes forward. 1t has
been shown from the most reliable data
that from 1854 to 1877 that contraction
reached the enormous sum Of Sl.3l4,-
603,09s and il has been shown that bus
mess failures from 1864 TO July l. 1877
reached q sum exceeding 81 500. OOQ,e00
1t would seem that. with this terrible
array Of facts, the friends Of contraction
and. ct the same time. the deadliest foe
Of business prosperity. ought 10 be salts
lied. Not N All. The canccrous curSt
il still sending H. sibrous roots down
deeper into the business heart Of tx
country.
We have said that II i a difficult mat
ter 10 grasp the magnitude OF The direc
losses the country has sustained by con
traction. a few Illustrations may he'll
somewhat in forming a just estimate y
the curse. The direct losses BY bank
rupts since 1864. when contraction com
menced exceed $l,500, 100000. Til
sum, in 81 bills, wonld make pile al
miles high. or, in s. bills, a pile 81 mile
high. In this way has radical tinaDcicr
ing piled up misiortUnes. Snpp0sin-
the grand sum total Of the losses sns
tanned by bankruptcy since contraction
commenced its whitening. bighting cf
fects npon business 10 be in silver dol
lars ID would be represented BY 4G.s7
tons OF silver coin, and still VIC have bu
poor idea Of the crushing weight D
the curse. Surprising railroad freigh
car 10 carry ten tons. the bankrupt IoSSe
10 the country since 1864 would reQair
1857 cars, forming 4 train OF about thiri,
miles in length. Think Of tia trail
stretching away through forests am
field thirty miles. bearing the burden j
the great financial curse. Again, III
losses sustained BY the country by bank
ruptcy since the curse or contraction
commenced exceed tile sum Of $500
100000. Taking the sum OF $e0,OO0,OO
as the assessable wealth Of indianapolis
we have the fact that contraction la
absolutely swallowed up eighteen elite
Of the size and wealth OF indianapolis
No earthquake, cyclone or tidal way
ever accomplished such destruction
But again. The assessed wealth Of hi
diana in 1875 was set down at Ss55,634
100, but assuming that 1t j. over 5000
UO0,OUJ then we have as the result Z
radical management of the finances Z
the country. and John Sherman's ~
Gu ie Of contraction the destruction 4
the entire assesgable wealth OF the stat,
with SC00,OO0.uC0 over. enough to oblil
crate the wealth Of Michigan or som
other state. Still the work OF contraf
49,.