The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-07-29

shopkeepers who see the accumulations
of years melting away before the dry
rot ; the real estate men who owe mort
cages on dead property-all, all are in
favor of the Ohio idea, or the expansion
of the currency. Give US another chance
to make money; give US few years OF pros
perity, even if it is followed by another
collapse. Things cannot be much worse than
they are now. We have tried the expert
ment of forced resumption long enough.
That is the way they talk down there, and
that is the way they will vote"
1t is fond and foolish saying with
drunkards, when they wake up with head
ache, that so hair of the dog that bit you is
the best medicine" But here are people
who think they had better eat the
whole dog. The laboring people. the
small shopkeepers, speak out Of ignor-
ance. and repeat what has been
told them. But our correspondent
mentions one class who undoubtedly are
very influential, not in Massachusetts, only,
but in all the other States, in urging new
imitation. These are s'the real estate men
These are the men who are everywhere the
leaders in the new imitation movement.
Let an honest greenback-labor farmer or
workingman ask the leader Of his party, be
it General Ewing, or General Cary, or Mr..
Shupe, or whoever he may be, whether he is
not in debt for real estate, and he will get
but one honest answer, Eyes" In the last
Congress this was so notorious that it be-
came joke when any Representative was
especially zenlous for an imitation of the
currency to ask him how much real estate
he held and Senator Jones, of Nevada,
who was one Of the foremost leaders OF the
imitation movement, did not even conceal
the fact that one of the main objects Of those
acting with him was to make market for
real estate. But surely it is not to the in
terest of the mass OF workingmen that real
estate shall bear high price. That means
| to them exorbitant rents it means that their
families shall be stuffed into mean tene-
ments ; it means that they shall pay specu-
lators high prices for the little village lots
| they ought to own. "Cheap lands" has al
ways and rightly been the cry of the work
ingmen in this country, yet they are allow
| ing themselves to be deceived into policy
which has for its chief object to raise the
| price Of real estate.
V. But even the real estate spectators
| deceive themselves A new imitation will
not help them. Imitation will not initiate.
The balloon burst in 1873; it will hold no
new gus The panic OF 1873 and the sue
ceeding depression came about not by con-
traction. because paper money was then
most abundant, rs we have sh own; it came
| about because Of over speculation, over
trading and the deep alarm which seized
prudent men everywhere as they saw
whittier we were drifting. Public conf
dence received great shock; the men who
had anything buttoned up their pockets
and the men who had nothing but debts
filled OF late confidence has begun slowly
to revive; but new imitation would only
send us back into the distress of 1884. It
is because we have got near to specie
basis that men are beginning to venture
timidly on new enterprises. 1t is because
confidence is shocked at these greenback-
| labor demands for new imitation that times
remain hard. There is no hope of better
times for the workingmen or even for the
spectators, until resumption is accom-
plished and the imitation movement is
finally defeated.
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