The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1878-03-22

we tmr.ssshsttss NJ tt~sawssrs IN shs -
~ sarusss. tsiw twtst ir.m tls. Nllt.s,
~ NeW Svtk

4
tN~ tmr.ss,s,,tsy NJ N~mmsrs IN ,hs b.
| ~ sarusss, tsiw t~ust ir.m tis. Nnt.,
~ ~rw Swtk
| u " es,e ihire ~ telh sisual rrsanimr stest
| payments. hni quite anuthvs thing IL uhssi
the st~rss with ~hich III tesuns.
| IN " an rAss matter fe~ ixnnssni and si.sgrs,
ine Legislators I" rss% laws ranitsns ,hr n
demttiun " nnr rNi~t currency IN srsee ~
erssAin Al, ini pnise srushes thing ~ HI
tln,ctnmtns sua ihr hsnka III provide the i.v
eessaty slc~sc with which IL redeem ihrif tsre
| na'ss Ani keep them n, tar inesin
However much v. n,es desire rnr pAres rnr
| renry h W. VI tsf with cnin. ~ III hase hon
-, none, IN ilacr ~ broken rfsml~ i i
"rrtieemAhle Ii place ~ "ifreaesmal ent
! reney, ~ ~ have cotn AMI hank notes IN tlar,
~ greenhsehs. the important questions in 1,
answered ste, wha, are the possibilities am
probabilities ~ onr obtaining The amsuti II
esan teaarcd 10 give ,is the currency we metl
,icsirc ltaw much rarcf manes Will there h.
lo be fc,leum,s, ~ the sime resumption IL Il
take place. How much IL this TAPER uianst
viii remain w circulation after fes,tmrilnn ha,
taken tlaceY How mitch rnin will he required
- redeem this PAPER nloiiey ahd ~ maintain
it, rt,l,mpliun9 Ard from what #anfen In this
rnin ID Id uMsinrdg Thosa n,r tn nu.,,lnn. .,,,
10 ~ sstI1fMctotlly answered before We rnrll
msdly aud hlindly over TIN prerilarr ~ hank.
f'iitey, population, aud revolution, That II
near N hand.
new Mrrm rArvn r,'anvses VIII rnrnx nr III
RrnKfM IAN. I. isTDf
W. have nov 4a5p,ulu,htu III Aternl arIu |
thr Resumption At nsi'hprl,Hs tlin d.ainulnu
~ nll this except san,Mu, ,nnn lefurn issp
w hsvn Al~o saap. .NH',tHn III lank naisri tin
turnInttIun act authorizes thu Hsnu VI Inn III
hahk nntps fur rstil Asn III ufeenhark d..
-itu,,d. N thr piesnhAcks Rfu reduced ftn..
ntnu. 600, thu hanh hntss would. Aernrlng IL
this law, ho Increased 4Gn0H'.' ',ts, lint. IA
make our calculations ~ favorable A# rus III.
for resilnpllpi,. No vii slpnnse that thu lank
mites are arn reduced ~ finn, ,oiu, nm. making
the total amount ~ palpv currency q ba re
deemed Ia cpin, Jan l, Ism, tGpn. Inn. mn.
Now. how much caip viii ie r. lnrad IL re-.
deem ti,ls amount ~ Paper mnllas, anh hn~
mneh ~ maintain u ~ par With rpseief What
standard have we by which ~ guide nnr IldI"
msns ~ answering Tits question What is.a
u'ir own financial ,l@iufs i.ar ~ W refelehea
~ ttIs matter, anH wtai itAfNHlsii ii eHil Nj
gather f,,,m tl,o usanll' ~ ntter sisele.paslns
cbnnsrieW2
II lan fAst that - nation wA~ ever Ablr ~
kent Iii circulation a fedesmMlal. lHtsr aurtslis
coin, ~hi0 ulat nation VIZ largely In lah', r.
Jniflna annual Interest ~ be rall III suIn Il, Il
fnfsipn uu,lAifyi therefore. Nv may Justly mfr
ilist ihls su,inlIs vii nsuI hu Abln III r.~,ilua
and maintain spnate la.ia Until nnr fat.ltii
.i,h, " paid.
tAsf@ Mtfn MtnAHb ~ auH oNs FINANCIAL
mihfuMY.
III tsht When vi. hualipas II Ills e,,,lniI.
was utl \ ei.rle harl~, tliata Wa, ia the aDllr.
t.tii,tty about 4llu LIN, mn la ,nln I'h.
,intt hHnIs hold fs7,Gil al'T III thu ealt, el.a
tin5 hsd Ih circulation about f1f1, ,Uttlttsnl ~
pallsr notes, which thas claimed u he alb. Il
rn.is.,n With ~. colin ill., held. W. had ih..,,
Ia tlia Whole euilutfy, Aiunt sb nf ellll ~ ~
u paper enflune, the hsika hnli ahali n
~ epin ip f2'a ~ hank uaisT. and il,e pupil.
had ahant ~ ~ coin IL 4 held by tile hanks.
From the iinatrlal statistics ~ sasufai snars
pfasiuns ~ 1901 Hn iind that. whichever tln
hAlihs Hitunbt,d ~ tnrfaHss ttia alilultnl ~
jaupt currency mi,eh Alnsu thn falin II e.tIi
" here given, thn effort Mna followed hs tasi.
uus financial di~aAi.tH, resulting III psi,ies. aud
extensive failures III hanLa AID ~ h,.sln.aa
mn. md subsequently, w large fulnallpnlil
the volume M paper currency.
ffutu thu Finxnrial isspnri in lr7d page lsf.
~ learn that from isil IL iNa7 lin hanks III.
sles#td their psptt circulation 45a, ltA a2a, Alrl
dnfinE that tltun tlafr Was hn inrfsasa III lhu
supply III cuii, h,ld w The hanks h,l, u ihe
contrary, there wAs II duttuasu ~ th.psl, ,ts5.
lhls rapid Increase " pApor money Nllilnnt
corresponding Increase IN thu supply Ut sulh
MAS followed w tha panic VI tNsl7 a,ti all IL
accompanying JisAAt.fs, NJ which i.n,a all the
banks IN tho country suspended.
On the uthuf hand, between is57 and isty
There MAS \ contraction NJ The ratef tHrlaues
amounting ~ 4gi .6iH,2s7. aud sht,nkssa III
thu colin hold by thn hanks amounting ~
III, ,JDa. .baA. Between istJ aud isis the hH.lkH
again inef,as0si theif paper currency fIOti,
4bs Di'l, ,Gur ~ tlaH Y, ipi, ~ actual increase
~ fGp, ,ptl hAa. white n the satae ttma TIN sup
ply ~ com wRs inrteAred only 4i,diJ.7id, l1ht~
extraordinary l,rtrasa " pstHf nui,n, with
oat 4 aeD,r.spunding.lucraA. " euin, ~as fl
lowed by tho pShlc " isl7str. IN ni.s ynsi
sftHf, thr volume VI currency Nas reduced
about 1it, ,uuO. .0HNi.
iii 1857 ,hc banks hal agaln increased thelr
paper currency ffum siit, 7ta, VA " sail, III.
taa ~ innssion amounting u tIUO,lyb. eO7
During this period tlies hAd Increased lla.lt
coin only tiI ,p+,,,n7l. Ihln Ipfluj ~ l,ank IN,
hsiIon a,lminaled ~ tho ranio " irs7, n which
time nearly MI the hAnhs susp. t.lusi. Fun
iHsA IL ithp thu LKEk# HEsiu reduced their Ut
eulallon ~ oue year, ftp,olo,t1a, Al thu
rHinu tim ilGy increased ihsll ssHn 1id.nhi,s
nJi. and twn ware nfi.t hai ttlsf,as.d thu
s,,iD tts. trh trlO.
fram issr 10 isai, III. year III. ~as l~san
thr banks had apsin iurleAsed thslI pAial aifs
enlAiipn ffm tt5t. .3i.. .ait tn s4e9, ma 7d7. Au
imitation u 80, ,7i,7. .laa While III tho ssi,.e
tlnle thu cun ~ III Ly them Ase diminished
from 4i0t, ,b3T, His ~ isbH tn al hi ~
isGi. . doTIexse ~ tid rda. III,
During thl. peiiod VI ihhaileD and eonlsAs.
linD VI bank notes, ending IN COLLAPSE, panic,
s,,.t,snal"ns And bankruptcy, noi only II hanks,
hut almost the rIsita hsl.,Hss NJ the e,slIlty,
w observe That thu suinnA ~ auiu hpld by the
hAtks wAs likewise xihjeet ~ yeilulls eAt4Ii.
1ioil aud contraction. lhns, iti iHIb. ihp LAnAs
hald 4tJ.DJ7, ,Gl0 ~ rpin. while vi lr.IH, lhsy
heli only va. IVA, tta. 4 contraction, III 4..7tI-
OiJ. Ffum INA ~ iAJD ilA r.lil kRHln IN
creased NJ, MI Ia UEe Year. frnn isJt III
lAta tlnts MAs n contraction ~ suln fI0I,
tlb. l59. .6TJ ~ t2H 40 t2I, shriiAses Ut 4it,.
Hp1. 1Np III three yeats. ttunp Ist1 W lhtt lhs
sdn wAs iicrvA.d " ttp. ssts. .2aa, ~ increase
tn iha Two ysAvm ~ sai, MI. .std. ffpm Ittt 10
lst7 tlese wAa i contraction, VI euib u, ll.s
banks amounting ~ tit. .7db TOD, tfalu lst7 10
lAtA they KRAlts Increased THUR frlu II III,
nbt. In 1880 u decreased Ahnut III I'M. IND,
FROM lbsp ~ 1855 ~ Ii,sr.Asa " eun war
made frUn stJ.Gip gts 81 t7L4Ia,sa au III.
crease ~ 4yu, ,JpJ. .l6l p,nm inbs ~ Iabp Il
iiiaFeAsed ~ ftDt. ,rts. nj actual lsr.A@a II,
one year " tMtatDsG Prom IAN ~ isfn
ihe eolii sesefte wAs nsain cpttr leted 4, 4s1..
tgt. .bJ7. siiriaksbn ~ t3o. .pl1.3si.
Nush was tl,s .AiglHl history II our monetary
saAlu. Under ~hst ueiL tlasAuld. AnAm \.
Hewitt atM their stesd64teHum,ldtDu fullnNais
call "tae only stable, reliable s,,d nnAuaiaia ting
standard ~ valna The people eau hsss, nsli,s,
"t"l'. Ani = pA,*r currency efhsa. tlbls
lsIsO euin, ~ sli iintns, ~ thu pl.asura III lhs
i.0l4lsr" And while nndat il.ls ey~tutli. ~.
sUsdanN w the ssAt4nH III ~ GuguI,trsiInI kllpa.
The I*urI" Ivss every twenty ysars h, tAa fall
ufs ~ LAlks ~ amount s.ilki III lhu entire "a.
l.sr circulation, IN th1 a0sltif,.
MI " Ul,s1fvtd shAs Iii lsJ7 III. L.aks
l,.M elW iro,N NW ~ pst*t nui.., Ki,sl oi,It
WI. .vl6 ~ ~ e.tnt ~ alaut III III e.,I,l IL M
~ pal1t III tHt1 II they LuId tI2s, tH, ,Oni III
paper enti.nr,. and w. Mi ~ rvlns q,