Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1878-06-29
TIL. CAUSE OF BUSINESS DEpREs-
slOs.

slOs,
The question. what Is killing tho busi-
ness OF this nation. is an important one
to every citizen. rich or poor. employer
or employee. As to the fact. there is no
dispute. Business has been and is very
much depressed. There is a large
amount OF accumulated capital snd sur
plus money in the country, but it is not
seeking investment in productive enter.
prise. Government bonds are going OF
rapidly. but business enterprise is at q
stand.till. This is not owing to a lack
Of money or the want Of enterprising
spirit among us. for no country in the
world possesses greater resources, aud
no people greater capacity for develop
ing and utilizing them than this country
and this people. We have the energy
born Of youth. the vigor Of early man.
hood, and 1t would seem as II everything
combined in our favor to make times
easy and business brisk. But the fact is
just the reverse. Our enterprise is par
alyzed. and our working people are cry
ing for the bread Of life.
This anomalous condition Of affairs is
not due to the heavy burden Of taxation
borne by our people. for business has
prospered and nations have grown
wealthy under heavier taxation than the
American people have ever been called
upon to bear. Is it due to any inherent
fault or weakness in the Government
Certainly not; for after all is said. the
Government Of the United States Is one
Of the mildest and most beneicent in
the world. IL not beyond comparison the
most so. 1t Is not the result Of unwise
and severe legislation in the past; for
we submit that a system OF legislation
which has steadily maintained aud
strengthened the credit Of the nation
cannot. in tho nature Of things. have
been injurious to individuals or to BUSH
ness. 1t is not. as has been charged so
recklessly. due to any imaginary con
traction Of the currency; for there Is
more Government currency in circula-
ton now than there was before the
panic Of 1873. and the money centers
Of the country are fairly slutted with
unemployed funds.
What. then. is killing b~usinessl 1t
is simply this: the growth Of commun-
ism and socialism. the agitation Of the
inaationists, and the threatening attitude
Of the Democrats in Congress. All Of
these causes are operating in the same
direction. and together they are killing
business by alarming capital and rstard.
ing the growth Of confidence. The
communists, the socialists, the infiation-
lists, the Nationals, the r~epudiationists
and the Tilden.Potte Democrats are
natural allies, and together they repre-
sent the aggregate influence which is
making capital timid, preventing its in
vestment in active enterprises, keeping
up the rate OF interest, and preventing
the revival OF business.
That this is the true Of the
business depression under which we are
suffering. must be apparent to all who
give the subject the most superficial
thought. We have money enough to
conduct our enterprises. but not conf
denes enough to trust it to investment.
What manufacturer would be fool
enough to enlarge his operations !; what
capitalist would DO IDIOT enough to in.
vest his money in active enterprises ; or
who that has money to lend would care
to lend IL. when the Communists m
threatening to rise in q dozen large
cities ; when the %infationists are clam.
oring for an unlimited issue Of green
backs. and when the Democrats In Con-
gress are pushing forward q scheme to
MsIicanize the Government ? These
are the men and the influences which
are killing business. II the American
people want a genuine and healthy res
toration Of business they must resolutely
attack and crush this h~ydra.headsd
monster. which, under the various
names OF communism. imitation. and
Democracy. is killing enterprise. and
threatening the very existence Of u
National Government.