, 1877-09-24

umong people 10 consider things wort, ii,p,,-
Ka,nle of pounds, or frasles, that we're ,wtrtl,
only hnn1rcslH,or nothing nt oil. Pounds and
frat,rs, however, arc inyariablc quantities, and,
after tho madness t,as run certain ctlursc. anil
the variable qtnntities-tbc Mississippi stock,
the soutf,-eca stork,. and the tnlir bulbs
posln,is a1nl francs, bankruptcy and rnIn
stalk through tho inarkct-places. False. cs-
tIu,ntes Of The wnFth Of things, "A measured by
money. arc tnrt ut parcel VI All commercial
The causes Of our present enntllttnn, That Tor
soRe years prior to 1879 wc fnal been marking
up our troncrts Of var'uus kinds, and nKrcetnE
to pay doars % w'sn vs rally hal 1nly r,1, slt
MANY needless rnttways, and other permanent
ttnprnvctnen,s It is true, but the difficulty was,
not that VIC hal lflt them, hut that We co''-
slercu them worth as many dollars a. they coat,
md hal entered into obligations
RAsED uroN THAT XIsrAKES NOTION.
Tic productive powors of tic rnuntry were
then, and arc now, equal tn tho task OF of crcnt-
ing tho volume Of circulating capital OF draining
Its source Of supply, anil therefore without
WHAT What Should have caused us to COM
ons pena %iFklsE asr ap ,ss sess would 'cs C. an
swcr w ca. rive 6ers Is, That certain races of
men, ami particnlarly thu Ang1o.sa1snl E'cc,
business Of crc.iit. We know fur a. fart that
they oscllate between nsr'otls Of ltss, PROSPER
~ a r1t.ss Will s1 v1 IT,
wcatt' very rnptlly for seas9'sfas'd then ti'ty
An,l themselves entauElcd u debts whlc! they
rannot pay. Tue Sponge Of bankruptcy i slow.
Iuanufattur,,. classes, and thcn, attcr tltore or
less suffering, they taKo q new start lor ireall
plunge. do not think that either tho tartH or
t!'c currency, Vicious us they are. brought IN pn
crises when neither the tariif nor tho currency
was faulty; and other countries, Gn}oyin.
bath FREQ trade and metallic n,onoy, ars
now in substantially tho SANS plight
| cna must" TIC studied intluctfVely
by finding what particular facts arc rt,n'tnon to
them In ali times an! nlaces. Tnriflh and eur
runctcs arc not common " t'icn! everywhere.
Therefore ait We ca, 1ay Ia, tint bad tariff at,d
q bad currency probably aTGrayatc q crisis WHEN
Il comes, and
| NAY NAHTEN tTs COMING.
We know that q roo,j tariff and rood curJcncy
| will not prevent It's coming. It ID small salts
faction tc.recalt that tlIc advocates vi Protection
| trun,.,etcd tho prcseht thrill as tho ihfaiibc
preventive ami patent tncslscne OF panics mil
financial rcvulsons. NubHly Inns tho Aanl!hootl
to cla!n, t',at thn present crIslt wps brought OIL
by tho want Of II tariff sufficiently llgh for tho
| public needs. While the Trainers md friends Of
il any y vlrtuc in war,lng on ran!es aud crises,
arc convicted before tho whole people oil
urvss nuackcry, i do not Charge upot, them
tho responsibility Of bringing lis INTO
show, however, that tho snccdlest, II not only,
| wav out OF It, Ia to abandon tbeir pollty, to
strike ofr tic sl,uckIcs they hayc imposed Upon
commerce, to opcn tho toor, anu give to tho IN.
Il Ills country Iii c,anca in tho markets of
| tho world.
H. ..-:
Tho next point TO Da considered Is the reason,
II wc can discover e, Why tlu present crisis
holds on 80 fnngi why tho dcpressOils Acspcns
aud increases, Instead OF wenrtns ITSELF out, as
previous ones have done: Il y now iour ysass
since payday commenced, anil s[ncu 50 vast d
multitude wcra fuuilll unable to pay. rhe
bankruptcy courts have becn grinding six days
III every week s!nSe schtet,bef' loio Aau the
Enst n scarcely alnii,iiallsa III soinme. Lees
wrecks 81 1857, aud to bring IN a season 81 ia!r
prosperity. Tito difference, appFehetd,.
coasiars fN THIS:
that IN Iss7 W ssi!! haa v.st unasyp,Iopcd @
and likewise very considerable market !of our
sInpi iIycT was ti,u We.tefa limit, POI Of settle
called thorough cultivation aud Improvement,
| willie east OF that line there were great gaps III
Illinois, Michigan, ati'l wisconsin, at!.l lesser
nMes III Iudlana, Ohio, md pennsylvailia, to ho
population. by railways, and nll thu tnacl''nery
of civilized life. lleru mud farther westward waa
to bc found remuneration Tor capital and !abot,
! and both ca,no In abundance as soon " the tfc-
lria OF 1857 was gottvn out Of t!o Wny.
Slscc that tlmc NO have pushed aott!t-
hicnt to tho interior u kAlsas and No
br4ska. 3iinnesuta asl1 Iowa hava bo-
.cono Mpulous states. Colorado M !ias tccotne @
been opened by railways. Ca1lfurna ts. or
claims 10 be, oyorrrowtioi l Mitt ianrcfs: LUX Ihsrr
arc still aly gaps 10 sN' tlls, a"l poIl'aps tlIe
boundary frull which agricultural products can
bo carried With proit u the bca1Iarl l.as ut
been oyeFpasscd. But tho conditions iayoraile +,
to rnpid recovery IN lsS1 III, longer exist. Kc.
1nunsrltion for capital mil latGt on our OWL!
:oil no !oor a'nis ~ q. lu ,s; nsasn[s % .!
ue,lsu population, II would scc,l n bc a. dc1Isc
~ VIC can find any prcsent employment n.
Exnanslul. is one nf thc necessities of health:
ttaIr, AlI.l Is peculiarly the pEescnt cccssty pi
American trsllc:. And. sislcc It IL not to ~
found ln auy sufficient lucnsurc on our own soil
! We must look 10 the outer world Tor 1t.
When tho question: ie asked, Why
docs. not buslnoAa reviyof u u IN al.