The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1878-01-24
MORE MONEY, AND MONEY FOR MORE
PEOPLE,

patch brings theunwelo0me intelligence
Of failures, bankruptcies, assignments
aud distress under yarloua names from
all parts OF the country, affecting all
classes of people, but which are clearly
traoeable 10 one cause alone-lnsulN'
oient money to satisfy tho demands OF
commerce, This Is the burden Of tho dis
paches that furnish themes 10 thepapera
and inspire the eloquence Of congress
and the senate
In u time Of great national danger,
whom tho eSigenoies of the public SER
vice required II, il was oil we'll enough
for tho government to issue bonds ana
sell them 10 the best possible advantage
in both foreign aud domestic markets
II Ia well enough now, also for the gov
ernment, in good faith, to protect and
guard liz pledges in such a way M to
forever render safe the people who
placed their faith and money In the
keeping Of the country II Is well
enough, indeed, that the interest on tho
bonds ia paid regularly, and that the
principal In made safe from any future
contingency, The faith of the nation
must be kept rgidly, and ia creditors
must be faithfully and honestly paid,
but only in the money, and by the same
means that it's current expenses are
paid There must DO ono kind OF
money for both prince and peasant and
no preferred creditors.
The folly of forcing resumption in
1879 Ia becoming palmer every day,
The withdrawal of greenbaoks from clrN
culation without supplying n substi'
tutc IL destroying the financial, mOnuN
featuring and agricultural enterprises
of the nation. In the midst Of uneSs
amplcd plenty we are surrounded with
unexamplod distress, There ia no con
lidenco and no mercy, Men in the ac'
cutcness of their own distress do not
hesitate to pounco down on their iolN
lows, and force assignment and banks
uplcy at II sacrifice to themselves and
their victims, when IL il plain that II
rcw mOnths' indulgence would insure
the payment of both principal and ms
tcrcst. At an evil hour silently, and
without warning silver, which had
been u standard of values not only
since the government had been iound>
ed, but almost since the world began,
was destroyed 1t was not enough that
The money which had paid the soldiers
Of the Union for life, blood and sacri
fee almost unparalleled, should be
withdrawn that the spectators in this
life, blood and sacrifice should grow
rich, but in order that their gold bear
ing bonds should appreciate, every rival
even silver, should be driven out, o,
rendered worthless and be made II by
word and II reproHoh.
The plainly understood effect OF Tia,
resumption legislation, M is and wa
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trnto the money in the hands of thos,
fortunate enough to own bonds--an un-
healthy and morbid concentration o
capital in tho hands of limited mum
Der of people, Many of these, indeed
being foreigners and totally unac'
quainted with and uninterosted in GU
domestic wants, necessities or policies
only in SO far as the safety of their in
vestments are concerned. 1t is all wei
enough for us to keep inviolate the iNitl
of the nation as pledged to these PEG
pie both foreign and domestic, but if il
order to dc this it is necessary to throi
Ito industry, bankrupt the country an,
render the poor only the blind bonds
men of money, aye, even change tn,
form of government and create crue
and heartless moneyed aristocracy, W,
say far better would be TO sacrifice tn,
plighted faith Of an hundred nations.
We have tried contraction eilcctually
and that trial has clearly demonstrate,
that ruin is to be the sure and mevta
BILE result, if the policy is persisted il
and resumption is forced in 1879, /
simply stands thus-that with increas
ing population, with increasing improve
monts and developments, with II rapidly
increasing business of all Kinds, we ar,
expected to accomplish the industrial
salvation of the country with less money
than was ever employed before
One great and pressing necessity stare,
Us in the face to-day, it is not property
not enterprise, not collaterals, hui
more money, and that thrown out
among the people, and not hordcd in
European and eastern banks, and the
interest in gold wrung from an impoy,
erished and distressed people by taxa>
ton, when if other policies prevailed
the groan of distress would be
seldom or never heard in all the land.
This is the paramount question now
before the people. and would to God
We had II Necker, or Pitt to
grapple with it, We live in the hope
that the necessity will yet. produce tho
man, since il has been clearly demon.
strated that John sherman is dead
failure as financier for distressed
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