Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1878-01-16

banks, and yet this people were toid that uot
one dollar could be borrowed by the people oil
this town upon the faith of their real estate,
but only upon colIaterals such as wtrc owo' 10
but small quantity by our Southern people.
The inevitable effect IF such laws had been TO
depress real estate, and enharcs, for the oeneht
of The great money genres, the value OF sueh
bonds. It was said the resumption act, the
forced contraction Of the currency, the d. none
tization of silver. had nothing TO do with bring
Jog about the present condition of affairs. Tbs
CRY originated 10 Wall street, and was confined
to the money centres The vast mass OF the
people thought differently. 10 bis judgment
whatever Wall street wapted the rest OF the
country did not want. (Mr. Kckel zie-" That
is literally corrsc.') But all Of us Gould rea'
SOD from the past, and reach c)ucluslous as TO
the Cause Of the present distress throughout
the land. From 1850 to 1860 there was plenty
Ct work 10 every department and prosperity
unparalleled in our midst. From 1860 to 1870
there was no lack OF work for all classes. Yet
10 these periods thorc was 10 the one an Issue
of ourraooy by State banks limited by DO rule
of law or OF the Treasury, but solely by the
wants and demands Of the people, and 10 me
other an almost Unlimited issue by the feueral
Government. But from 1870 to this day want
and distress prevailed 90 every side. Failures
iupumcrable are heard of every day. The loom
and tho shuttle, the foundry and the forge
were silent uoR. For this there must be cause.
If prosperity prevailed during period OF No.
limited issue of currency. and ceased when con
traction begur; prevailed when silver was
standard, and ceased when it was dsmonetized;
prevailed before the passage OF the hssump,,
ton act, and yet with every day that elapsed
after its passage distress increased, there must
be al assignable cause. Reason, interenoe'
logicll deduction pointed to these acts as t6e
inevitable cause Of our troubles. There remedy
must be found; be could sec it nowhere else
but 10 the repeal Of the Resumption act and
either the issue of larger volume OF legal ten
der, or the passage of a bill containing the
principles of the Bland silver bill. lie believed
10 the silver bill, and ip the double standard.
The remarks of the cashier as told By Mr.. Lam.
bert that if Congress would let the whole sub.
cot alone and legislate about other matters
there would be peace and quiet 10 the country
was suggestive. 1t was as If physician cllled
10 to the bed of 90 i'll pao Lad told him. Take
nothing, do nothing, make youf will, ie an
hour there will be peace and quiet 10 the
ROOM" Yes but the peace and quiet of death:
And 80 with us; the advice means peace and
quiet, but the peace and quiet that would fol,
low tho destruction of all our property aud the
destruction of tho interests OF all but the cspl'
taliss.
Mr.. VIM. 4. Moore disagreed with Messrs
Mckenzie aud Stuart. Fle thought the diff.
Guilty lay in the indispostion on the part OF
many people to work, lie himself, when
young man, had dug every dollar he owned out
Of the earth, by hnrd labor on farm: Vow,
oil the young men were running from the ooun'
try to the cities. because they thought 1t re.
qaired less hard work to get along there. The
result was that the cities were overcrowded
while tho farmers wanted labor. Many OF the
mechanics who werc lie now could get work
10 tho rural districts. he had tried to get
soluc Of them to 20 to Q small village up the
but they refused 10 90 So although
good terms were offered them.
MIR. s. s. Coleman Inquired Of MIR. Moore
what kind OF N eohsnics were wanted
Dir. Moore-Shoemaker Laughter.
Mr.. Coleman declared bis ability to furnish
cevera shocmakrr5 WAC would 20 to the
Mr.. Moore said that be would obtain EN-.
ployment for two or three at ouce. where they
could do yell.
MIR. Moore, continuing, repeated bis opioion
that the trouble was all caused by the over
crowdiDg Of the cities aud by over production.
As to State Banks, who would loan money 90
real estate? We bad had specimen OF them
right here 10 our city within the past Eve years:
Where now was the money OF the widows and
ORPHANS who deposited in the Savings Bank?'
MIR. Nj. b. Harlow said that only about i've
dollars of the money vas in real estate
security, while thirty FIVE thousand was Invested
10 worthless bonds.
Mr.. Moore kocw one thing that the doposi.
tors had only goteD tea PIX cent OF their
moucy.
The resolutions ware then read az! adopted,
there Deing ooy about SIX or seven Votes 10
the negative.
Tic meeting adjourned about $3.50 o'clock.
SUN FIRE CoMPANY.-A called meeting OF
the Sun Fire Company was hell last night
MIR. Hugh Latham, the President, made
some remarks 10 the nature of report, touch
log the recent action Of tho City Council. re.
garding the engine house. lie counselIed mod.
Grafton aud rropricty in all the doipgs OF the
company. He also cxplaiucd why he bad fail
ed to call the annual meeting OF the company.
He said that the engine house matter was then
pending 10 Ccuecil, and be did not wish to DO
accused Of attempting to manufacture public
opipiou 10 regard thereto. The company by a
unanimous vote, endorsed Mr.. Latham {
course 10 the matter
o. motion of Major George Dufey. a com.
mittee of FIVE was appointed, to act 10 copjunc
ton with the President, who should ascertain
the present status Of the company and report
ar a meetinp Tn be held on Monday night next,
This morning the Mayor furnished President
Latham with copy of the order Of Council il
relation to the engine house.
POLICE ITEMs.--Justce Padgett has had thu
following cases before him to.day.
Ella Summers, for obtaining money under
false pretepses from James Kelley, was dis
missed, the prosecutor not appearing.
A party Of colored people named Pearson
for indulging 10 o family row on Fairfax street
were fined and required to give security to keer
tho peace.
Elizabeth Frazier, charged with assaultiut