Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1878-12-25
WEDNESDAY MORNING. DEC. IS 1873.
MR.. BROWN ON THE TIMES.
HE TELLS WHAT HEKNows ABOUT BUsI-
NEss AND THE POLICY OF THE
RULING PARTY.

RULING PARTY.
Mr.. EDITOR Permit me through
the columns OF paper to say u few
words in regard TO the times. In th,
y.ar 1874. my brother and | assumed
the payment of the Clearfc d Painin.
Mill Company's Indebtedness, (havin.
a fourth interest in the Company pre-
vions TO this time the liabilities wer,
SOL 900, the assets s64 900. Any on,
looking at the figures would say tina
we could pay the debts in full and hav,
$4,000 left, but how different the re
suit. The first year, by the aid 0
$4,000 of previous acquired capital
we reduced the debt 1000 Tn,
next year $4,000. Third } ear 4,OOt
and then offered the balance Of ih,
property for the remaining sl4,00U
which consisted of timber land, steam
saw mill, planning mill and town pro
perty, originally costing us $4,000
and our creditors would not take il
but kindly consented to reduce tb,
debt one half. Amy one wishing the
property can have 1t for $4,000, u loss
direct 10 us OF $4,000. In citing thi.
case l do not cast any reflection on
our creditors, for they are all perfect
gentlemen, and did all in their power
to help us out of our difficulty; but
the blame is attributed to the system
Of finance under hich we are suffer.
ing. The money power, through the
leaders of the Republican party, have
bad control of the finance of the
country ever since 1862, when they
effected through the Secretary of the
Treasury and the Senate, the passage
Of the legal tender act in mutilated
ioim-"interest on bonds and duties
on imports made payable in gold"-
the duties on imports to pay the gold
interest on bonds. Had the interest
on bonds been made payable in cur.
rency, there would have been no ne
cessity to have the duties on imports
payable in gold and our government
would not have discrediled our
currency, by refusing to take it for
duties on imports. This was the fist
act of trcacbcry on our currency by
the money power, but it was not the
last. Every act passed during the war
was to discredit our currency, in order
to get possession OF it at ihiriy.fve
cents on the dollar; so as TO buy
the bonds as cheap as possible.
How different after the war. First
Act. All bonds, treasury notes and all
other obligations of the government,
shall be exempt from taxation, by or
under State or municipal authority"
(Act OF June Both, 1861 Although |
pissed before the termination of the
war, this act belongs to this period.
like the National banking law, at sim
ply anticipated events.
Contraction began in 1865, August
3lst, by Secretary Mccullough. In
1866, Oct. 3lst, the amount contracted
was 1895, ,s15,31S27. This policy
was persisted in until all evidences OF
Indebtedness Of the government bear
ny currency interest, and having but
\ short time TO run were converted
nto gold interest long bonds. In the
contraction had done its
work, business men began to suffer,
md the industries of the country TO
ltcline. Hugh McCulloch had tapped
great artery and let nearly all the
Hood from the body polite"
The next great act 10 PROSTATE the
Industries Of our country was the
'pecie Resumption Act, passed in
anuary 1875 The Hon. Moses W.
field, Of Michigan, gives detailed
latement OF the profession and call
ngs of the Forty third House. He
aid: "tbe Forty-third Congress, to ;,
'hich belonged was composed Of 379
lembers In this number there were
x xlumbermen, thirteen manufacturers,
even doctors, fourteen merchants, ="
iirteen farmers, three millcrs, one :
md surveyor, one priest, one professor
Latin, one doctor Of laws, one bar
er, one mechanic, ninety nine lawyers
nd one hundred and cighty-nlne =
ankers, which includes stock.holders "
! national banks" 5
Farmers, mechanics, business m n
nd day laborers, will you not arise,
iake oil your lethargy and assert !.
our rights2 In the hour of the coun :
US peril you are called to face the ;.
ullets; in peace you are compelled to :,
ny oil the taxes and support govern. 9 9
ent officials. Why should you not !,
ave fair representation in Congress. ! !
Is said by politicians that we are
10 ignorant, but we know enough 10
axe laws to protect our own in.
rests. q
The money power have controlled :,
'e country sixteen years, fnd why =
lould not we have control. We are :, =
ne-tenths of the population and we 9,
the one. tenth rule us. Real estate :.
rapidly depreciating in value, which :
i'll inevitably result in general fore. !
osure OF mortgages, and transfer of :,
'operty. We are fast drifting to ENG :
nd's policy" where twelve men own p
'e-half Of all the real estate, the :,
lance are slaves. M BRowa.
Clearfeld Pa. Dec. goth, 1873. :,
VI
JAMES L. GILLlS W