The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-10-25

Investigated TINS WnOle buDleCL. cIUH
1895 to 1878 We built each year $685. miles
OF railroad at cost OF s., ZOE, 770, 600, Of
eighteen miles per day at per diem cost
OF 81 ,0S9, 200. To keep up this rate Of rail
way improvements our people must in
crease $,4S0, 900 per annum. As mattel
OF fact we increase only at the rate OF TO-
600, 900 each decade. -.
In 1850, with o population Of 81, 500, QOC
we manufactured 81 1856, $50, 900 OF goods
or 500 per capita. In 1870, with q popula'
tion OF IS, 500, 900, we manufactured 81, 1882,
000, 900 OF goods, or at the rate OF $ll0 per
capita, AS every laboring-man has five
children and women depending on him
under such stimulus ofinflation he must
needs consume $3.50 OF goods to keep "
with theproduction. And yet we are told
there Is no such thing as oyerproduction
I admit that in the long run these things
correct themselves, yet1t is the process Of
correcting that makes hard times. Now
in contrast with this, look OF the agricul'
tural statistics. We raised:
In 1850, OF cattle, l4,779,s7S head; In
1870, Of cattle, 1855, COS head; loss, 1915
1858 head.
: In 1860, Of hogs, 81, 5I2, s67 head; in 1870
Of hogs, 25,lSi,56s. head; loss, s,s7S,2eS
head.
In 1850, Of corn, sSS, 7s2, 742 bushels; in
1870, OF corn, $50, Or, $40 bushels; loss, IL
In 1850, Of rice, 1877 1857 o32 bushels; in
1870. Of rice, 70, 6SG,02l bushels; loss, 49,
53S,0ll.
In 1850, Of tobacco, 4S4, 400, 46l pounds
in 1870, Of tobacco, 262, 1854 pounds;
loss, III ,674, l20 pounds.
533,0ll bushels.
In 1850, OF cotton, $685., 052 bales; In
1870, Of cotton, 3,0ll ,996 bales; loss, 1885,
066 bales. ~ ~ f.
Thus We see that during these years oil
apparent prosperity the farming interests
were oil the time dwindlingaway Notice
these figures: H-h
In Indiana, the total number Of farmers
farmers in 1850 was 1919, Sal; in 1870, 49,
sos; loss, 1868. "fi,
In Indiana the total number Of day
iarm-laborers in 1850 was 3S,92S; In 1870,
24,S23; loss, Q, 105.
As compared with this loss OF farmers,
compare the gain in city people: iaes
In Indiana, in 1860, there were 1854
carpenters; in 1870, l4,l7s carpenters; gain
$685..
In Indiana, in 1860, there were S,s5s
clerks; in 1870, 6,9l5 clerks; gain, 3,O57.
In Indiana, in 1850, there were Al
traders; in 1870, 1884 traders; increase,
1928. l.."l -.
Without giving details, all classes Of city
people in Indiana increased 30 per cent,
while the country people declined In like
ratio. And this goes for towards explain
ing thetramp problem-laboi displaced by
imitation. Under the stimulus OF inflated
wages our male population sought cities.
When the bubble burst they found them
selves without home or employment.
Our cities must give back to the country
their idle and surplus population. II Is 10
this class that the Democratic party ap-
peals; ignoring all the facts, profoundly
Indifferent to their fate, II panders to their
distress and tickles them with the cruel
tale that voting Is to supply the place OF
work. Mr.. VOORHEES, can well afford 10
bewail their sorrows for another opportu-
nifty to steal S. 900 from the Government.
Ny friends, England, in 1911, was in the
exact position OF the United States to-day.
Her factories and labor.saying machinery
were attacked by the tramps oil 1910.
Bread riots were the orderof the hour In
the cities. She had fiat.money party,
headed by the brilliant Van Sittart, and
the paper money party for the time pre-
vailed, and actually defeated the adoption
Of the famous Bullion Report that has now
for fifty years been the Al B G Of finance
Fortunately the sober second.thought Of
the English people prevailed. After sus-
pension Of specie payments for twenty
live years, in 1924 England resumed, and
Is to-day the richest nation In the world.
Had she followed the counsels. OF Van
Sittart and his party she would have been
like. Aubtris, in hopeless bankruptcy, %
WHAT IS THE cuRR FOR HARD TINES?
There are three cures in, market pre-
scribed by the three political parties. Let
me hripHy examine each OF them. The
National cure for hard times: This con.
sists in the United States Government Is.
suing fiat money in amounts sufficient 10
nay all debts, public or private, to put
labor on cash basis and relieve the deb
tor from tho jaws OF the credi.
tor classes. Fiat money is the legiti-
mate product OF Democratic teaching,
From promise to pay by tho United
States Government, which Is tho essence
Of the greenback, the transition to print.
ing on bit OF green paper, "This Is -,
and q legal tender Tor ali debts-John
Sherman, Secretary" is easy and natural.
Fiat money is irredeemable greenbaok
run to seed. The same iallacy Iunderlies
both species OF paper. That fallacy Ia
mans ability to create anything. God
craates-iaan regulates. The greenback,
separated from its ultimate redemption, Is
not money. At best it Is only'Ga forced
substitute for money. In my Judgment
tho Constitution OF tho United States pro-
hibits our greenbacks except as a currency
called forth by the exigency Of war. Its
legal.tender quality is Of the same class as
the Governments power in war to draft
citizens into the army, try them by drum
head courts, or seize private property for
national defense. Does any one suppose o
citizen could be compelled 70 go into the
army against his consent In time
OF peRUo2 So with fiat money. ]
have never seen but one argument
for fat money that would hold water.
That argument Is that the United States
nickel Is composed OF one cent coin and
four cents fiat, and the dollar OF ninety
cents coin and ten cents fiat. But the
nickel Is redeemable In silver, and the over
vuluing Of silver coins Ia simply a device
resorted to by oil nations to keep this kind
OF money at home. Without this over.
valuation silver would seek those coun.
tries where 1t would sell as bullion for
more than 1t circula.es here for rs coin. !
am not surprised that so many men are led
away by this fiat money theory. tits the
sick child's cry against taking the physi.
clans medicine. We, as people, have
been sick with thesickness OF initiation. A
wise doctor cuts out a diseased ulcer instead
ofdeferring the painful process until death
hallrender It unnecessary. The democratic
party Ia pandering to the conyalescing
pains Of our people, and is willing to re-!
init us back again to the old disease and
ia consequences II they can again purchase
power. Fortunately, the Greenback party
are alive TO their hypocrisy. 7'h - IN
Ny objection 10 the greenback remedy
is that 1t will makethe rich richer and the
.Aar y.annae |Thaty NroRnun 80 taut,a .,ok