The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1877-06-27
THE REAL. ISSUE.

In the absence of political campaigns,
which arouse partisan antagonists, the peo-
pie are turning their attention to matters of
more vital importance, and are seeking with
intense anxiety and earnestness for solu-
ton of problems which involve the means
OF existence. The difficulties, however, are
Sd numerous that the most astute thinkers
regard the immediate future with undis-
guiSed alarm, and the embarrassments are so
formidable that even their modification is
regarded as a task of. herculean proportions.
For series of years the wealth of the country
has been rapidly diminishing. Men Of
wealth have been reduced to poverty. Mon
eyed institutions which enjoyed the conf
dence of the community have fallen under
the pressure of psnics and hard times. Cor
porations engaged in manufacturing enter
prises and various industries have been com
PEELED to suspend operations, to permit their
investments to lie idle rather than sink their
entire stock and private fortunes in the en-
deavor TO stem the tide of adverse influences.
In this downward course of business
affairs men of moderate means, de-
pendent upon their labor for support
have been driven to the verge
Of despair-oUt of employment and out Of
money, with gloomy future before them,
it is reasonable that they should demand,
with seriousness born of desperation,
that a remedy be found and applied. To
find cure for the evils which are wide
spread. to remove burdens which are press
it becomes manifestly important that
the cause of the embarrassments and dis
tress should be definitely ascertained. For
tunately the facts exist which lead to ration
al conclusions, and afford the people
the means of finding the way out
of the wilderness into which
they have been led. In retracing the path
way over which the country has passed since
1864, marked as it is with wrecks and ruins,
increasing and enlarging from that period
down TO the present. it will be found that,
as the party in power deprived the people OF
money, it increased the business disasters OF
the country, and that the outlook in large
degree realizes the apocalyptic vision OF
John when he saw death on pale horse,
with hell doubtless signifying the tax gath
erer) following in the near distance. 1t was
evidently judicious to contract the cur.
rency from the highest point reached
in the circulation, but those who
had the delicate matter in charge, being
both ignorant and venal, were utterly in
competentto manage transaction that in
volved consequences Of such magnitude, and
as a result the policy adopted with re
gard TO contraction was to reach resumption
or a specie basis. Out of this has grown
such an accumulation of bankruptcy anC
idleness, such shrinkage in the values of al
real property, such general prostration II
i all departments of business and such wide
spread withdrawal of confidence from al
legitimate business enterprises that, in the
estimation of those whose opinions
are entitled to consideration, the ooun
try is now on the verge of ruin
IL is evident If contraction has been produc
tive of the evils we have catalogued. tina
contraction ought to cease. and to this con
clusion the entire people are coming There
are even now but few dissenting voices. Thu
~ Ha fdi H