The Morning herald., 1878-12-31
[yoR THE MORNING HERALD.

Mr.. EDITOR Il have read your editorial
"The Money Lenders Harvest" in refer.
snse to the sheriff sales in Philadelphia, of
twenty-five hundred properties. Now, II
during the time of inlation, caused by q
large issue of irredsemable paper money,
real as well as other property, is made to
have an apparent increased value, and per-
sons without due caution and proper invss-
tigation or thought entered into contras
at such times, they themselves assume the
responsibility Of their own acts, whv
should we ascribe all our troubles to the
effort Of our Legislators to bring, Is you
call 1t, our prices to an honest
standard of money! Al many Of the
present financial troubles were upon us
prior to the time of the agitation for honest
money, and as We are now only getting out
Of the troubles caused by our former mis-
takes, to say that the passage of tho Re-
sumption act, or the coming to an honest
money standard of valRss, we're the cause
Of all our troubles, look to the writer to be
. mistake. Had We not prior to the pas
sage of the. Resumption Act brought the
premium on gold down from the highest
point of 2S5 in July, 1854, to 1.10 premium
In November. 1901 We had lsssened the
premium sixty-fve per cent. In little over
six years, or at the rate of near eleven per
cent. per aDnum during that time; did We
not take long strides for honest money
valuesa Upon whom or where did We
throw the blame at that time or rather did
not every person 10 TO work to meet the re>
suirsments of the timesa Now, from No
vembsr, 1870, to the present time, We have
had to overcome the premium OF only two
per cent, or = decrease of the premium OF
about one and one quarter per cent per ana
mum. Why ascribe all our present troubles
and sheriff sales to the one cause.-The COM
ing to honest money. valuess When our
farmers sold their wheat IN 1864 for $2.76
per bushsl, with gold at 50 IS, they realized
about 90 cents per bushel In gold, whiletsa
day they can realize from, 81 to 81 10ptr
bushel. Men whe bought farms during the
time of imitation on credit, on the basis OF
wheat at $275 per bushsl, when they knew
our wheat would not command over ii per
bushel In gold, they also knew that the GUS
toners who took our surplus wheat only
valued 1t in gold, and now have to pay for
those farms with wheat at 81 per bushel,
made q great mistake, and for that Will
have to suffer the consequence, even though
1t be met by sheriff sale. can symps-
thize with them yet must We enact laws
to get people who have made mistakes out
OF their troublei If 80, then we should
have continuous session of our Legislature
and Congress, 80 that they should Away
be ready and prompt to keep our people out
of trouble and difficulties caused BY their
own msiakes, for thtrs is not day that
passes but what great many mistakes are
made by many Of our people. Our troubles
should now be over, for resumption 10 an
accomplished fact before the time called foi
BY the act Would It be wise II We had
friend who. was In the midst of great triali
and difficulties for us to say, "Ws know
your troubles are great, and cannot sec how
ever YOU will be able to overcome them
they are enough to break down the strong
est constitution 2" Rather would 1t not bt
better to buoy him up, and tell him there
was no use In meeting trouble half way, 81
It always comes along soon enoughf Lee
us not be children that are easily frightened
but act like nen that have nerve, and dar'
face difficulties, and make the best OF oul
situation. WIN. DEAN