The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1878-04-08
A Remedy for Oar Evils.

and commerce. One party advocates gold
basis for the currency, another gold and silver,
and yet another that greenbacks should be
made the medium for exchange of commodi-
ties, founded upon the credit of the govern
ment and that the country requires more cur
rency OF this character. and that gold and sill
yer should only be regarded as merchandise.
The advocates of each one of these financial
propositions assure us that the adoption of their
fsVorite theory or scheme would give the coun.
try the prosperity so much desired by the peo-
PIE, and that until their individual finatcial
paas are accepted the country cannot be pros.
porous, and the people thrifty and happy, as
before the war.
Let Us examine this matter carefully and see
| II there are not other causes aside from the
currency which have placed the business Of the
country, financially, in its present unhappy
| coodtiop.
In 1860 the country was prosperous, and no
| one, then, would have imagined that the pres.
| cot state of depression and gloom could possi-
blyexi,t. The civil war came upon the nation,
| with all its attending evils and eouseqnen nces.
For five years every industrial interest of the
country was paralyzed or destroyed. Two mill
ions of men were drawn from their pc sceful
| avocatioDs. as producers adding to the wealth
| OF the nation. These men became consumers,
never more to return to their former occapa-
tioDs. Our commerce, which was our pride,
and found upon every sea, constantly adiing
to the wealth of the natiop, was swept from
the ocean. Our exports were reduced to moth
ing, and although the country might produce
four millions bales of cotton, of what value
|,
| possible effort of the nation was made for self
| preservation, without any regard 10 the cost OF
| o.ood, or treasure.
The Government spent seven thousand mil
| lions of money. The Confederate Goverumens
| five thousand millions Add to this the mil
| lions contributed By state governments, couu-
ties, towns aud municipalities, North and
South. also the Contributions OF every mau,
woman and child over the whole country, all
for this deadly condct, all for the destruction
and ruin OF everything pertaining to the matte
rial wealth of the nation. Tue freedom of the
| slaves cost the South two thousand millions of
| property. Tue credit of the Federal Govern
! ment was impaired, and il was obliged to
issue paper money! great calamity, inflat-
ing every article of merchandlse, increas-
ing the cost of .iTIag, without any cores
pondi0g compensation OF benefit to the peo-
ole. For five years every possible power
was brought into reqaisition, in the deadly
strife to destroy Us fnaucls ly as a people.
Why then attribute our present evils to the
cure ucy? 1t is tho mercy of Heaven that our
couytry Snd our psople in fosnclsl point Of
view were GOT utterly ruined. Some of these
financial doctors refer ds to France ask why th At
nation should have made suca rapid strides In
prosperity, while so many Industries in this
country languish? They pont US to the cost Of
the war with Germany, the great indemnity
paid by the French government to that nation.
| would reply that the comparison between
our couatry and France does not hold good.
The French AMI German war was but ten
months 10 duration, while the civil war Ia this
country was for five years. The French were
united against their foreign foe aud in all
home interests for the preservation of the ma
tiop. Their commerce was not destroyed aud
but small portion of France was overruu by
| the enemv. The Germans 10 their marches
| through Fraece We're very careful not to de-
troy but TO protect private property, ,scrupulons-
ly paying for every article OF food or subsistence
| not owned by the French Government.
| Ii was not so Ia our civil war; there was a
/ reckless and wanton destruction of public aud
private property almost incredible to the reader
| of the history of that war. All civil wars are
| governed b. madness and rage and cruelty as
I all history from the earliest time assures us
| aud certainly our civil war was DO exception.
Again the French are a manufac uring people
| aud at the close OF the French aud German war
| there was q good dsdemsnd for their fabrics
| which could not be made during the war.
| They ara also an economical people it costing
| them far less to live than the people in this
| couutry.
| With the above facts before us it is not fair
| to compare our country with France and ask
| why our country does not recuperste q, rapidly
| as the Freoch Republic. l have remarked that
| the war swept our commerce from the ocean.
| Before that our merchant marine was increasing
| very fast our ships were successful, com petiDg
| with those Of Great Britain for the carrying
trade of the world aud but tor that our tounsse
would soon nave exceeded that of the nation
| i'who rules the sea "
When our civil war began every maritime
| nation in Europe judged correctly what would
| result to our commerce, as our merchants can
| judge conclusivels the Influence upon the COM
merce of Great Britain bY the decl aratiOn OF war
again Russia, and as a result lt will stimulate
/ them to bald vessels to do the Carrying trade
/ of Great Britain. Ship building in Italy, Great
/ Britain, Deumark, Sweden, and to some extent
IN Francs aud Germany, was greatly increased
| as freights Were good and tonnage every here
| pIOfitably employed
After the war closed our merchants began
with their usual enterr r,ise to build ships at
| war prices for materials TO replace the CON-
meTce of the country. Ours ships cost too
| mnch. far more than in Great Britain or the
I! continent of Europe. But freghts were good
l Tor some three or four years and ship
| building increased every where. The result was
| too much tonnage for the carrying trade OF the
! gofli 4. All maritime nations are snf, ring
| severely at this time, hut our counIry more
than any other, as our ships cost too much
| money.
Shipbuilding has decreased to great extent
- al A. 4
| will speedily reduce the tonnage of all nations
/ TO the legitimate IT'S Of commerce when a
| healthy business may be expected; aud our
ship owners will fiud remunerative employ
ment tor their vessels, which will take the
| same high rank they bad before the war After
| the war manufacture Of every kind was stm-
| ulated, producing goods far beycnd the wants
OF the people, ia their impoverished condition
by the war Whenever charter was granted
We built railroads-{ money not wanted)-to
that extent that involved or wound have re-
| q0lted, every dollar of capital In this country.
Agents Of these enterprises were fonsd IN every
money Centre of Europe, CONTRACTING loans Tor
their construction, and Tor otntT purposes, 10
promote American enterprises. Inc de0t in-
CURED by these projects was fearful.
All this was caus, d by the war. The steady
! auiet industry of the county before the war
tad oeen replaced after The war by a
er.at hsste to become rich, a, that BY meu
| VINO had been drawn from their iegiti ate
| ,)ccupstions TO Lew aud uotTisd delds OF enter-
tIisr, whore they had no experience whatever.
The reVul.iOn of 1873 burst upon the country
| III 70 an earthquake, rvnding the hnsuclal inler-
ests of the country iuto atoms, When this
cha pge came the country was 10 perfect secur-
uy. Confidence was not impaired and appsf-
cut Y rhe country was GeveI more prosperous.
Alter the pauic the true state Of the country
was made evident, AID all carefni, conservative
| foan.iers wondered bat they bad been so
uhnd to tue true condition OF toe co1stry.
nee the pauc, prices 4 commodii-s Lave
., Gu settlD Dg dOwn 10 specie vaioe. Many
nosInets men have been iTrelIevably ruined
mauy fortuues swept away oy the depreciation
of values Bat wi the facts recitsd here, who
will not Justly atJrbate TO the war aud not to