Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1878-09-30
rHE ATTEMPT TO POSTPONE SPECIE
RESUMPTION.
GOVERNMENT READY TO RE.
sumo TO-DAY.
And Make The Poor Mans Dollar
q Solid One.
SENSELESS TWiDDLE Against
THE BONDHOLDER.

CuicAoo, Sept. 3o.-Following is a
synopsis Of the speech delivered by Sec
Rotary Schurz at Cincinnati on Saturday:
Fellow Citizens /; The remarks I am
going to make tonight will be in a GER
tain sense supplementary to those !
made three years ago. l then sketched
the disastrous consequences which q
policy Of currency imitation would bring
after 1t to the merchants. the manufac-
turer, the business mar generally. as
well as to the farmer and the laborer for
wages. and especially to the latter. At
that time the people OF Ohio in their
State election administered a wise aud
noble rebuke TO the imitation movement
then attempted by the Democratic party
Of the State. Ii was 10 be hoped that
this rebuke would sufficiently check that
movement to prevent its repetition.
That hope has been disappointed. While
We are within a hairs breadth Of q final
settlement Of the gold question.
n INITIATION MANIAcs
Have broken out afresh. and it must be
admitted that many well meaning citi-
Gems. under the pressure OF temporary
distress, are actually seeking for a means
Of relief. and are tending towards con-
illusions which, in tho opinion Of those
who think m | do. are fallacious and
fraught with great danger to the nation.
al honor. Us well rs to the public vel.
fare. From time immemorial IL has
been the habit Of all politicians when
the people were laborins under business
depression and distress. such ~ has
been affecting US for the last five years.
to charge those managing the affairs Of
the Government with the responsibility
for 1t all. and so they TO now. When
you ask them to p~artieularize their charge
in our case. they will tell you that the
business collapse Of 1873 was brought
on by
AcoSrRAcTios Or rms CURRENCY.
This eharAe has been 40 often aud 20
conclusiyely rSuted that it well nigh ex.
hausis ono's patience to refer to it
again. What are the facts ? There was
indeed a contraction OF paper currency
from 1866 to 1865. but the business col.
lapse did not occur in 1868 /; il came i've
years later. and those five years between
1865 and ls73 are generally regarded rs
years OF uncommon prosperity. Now
what happened with the currency be.
between 1865 and 1882 In 1868 con.
traction was stopped. In 1869 the
amount OF paper currency outstanding
was S693, $780, 56 81 ; in 1870 it was
500. 1883 As in 1871 |. was S7l7,-
s75.75i o. /; in 1872 il was S73s, $50.
9O3 80 ; in 1871 was S75O,O62 .3Gs II.
THIS STATEMENT
Includes not only the greenbacks. the
national bank notes AMI the fractional
currency. but also the State bank circu-
lation, the demand notes. the one and
- -, IT.
i' "
was contracted between 1863 and 1868,
and several years OF prosperity followed.
ihe currency was expanded from ioo'
TO 1919 and the collapse OF business oc-
CURED. III u were true. as the iniia'
tionists insist. that the increase or de-
crease OF the currency were al the Dot
sn.c,ivsly ve wonid hav" 20 49,,
that according to the clearly ascer,ained
facts OF history, 1t was contraction that
caused prosPeti'y, ana expansion thai
,s,a5 ~ .,;,;a!ps e. 80. a..
things l thought wrong. bat 1 candidly
think that to charge those in power with
having brought ON
u TO-,
-
ny aeoniae"on OF the currency YOU'D
be just a. reasonable as to make them
responsible for tho eopinoctial storms
'p' VI 'n' 'oouS's III
the west Let US examine the causes OF
the collapse Of 1879 and the subsequent
depression as unprejudiced business
men. We all know that at the same
time when the panic occurred here, in
Au'umh OF 1919, u similar crisis
$500 ! c".w 'ps
the European continent except France,
sEvrRE BUSINESS IMPRESSION
Was felt in England. Surely. although
this Is a great country. our Congress
and Administration aud the Republican
marty cannot have bs.n n, IN. haitian NJ
IN ,n.,. .,d %, a..
e"'''s p'o'u'eu W
The crises Ia Europe were in almost