The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1878-09-06
THE FACTS OF THE CASE.

THE FACTS OF THE CASE.
One reason why toe greenback o. communis
tic movement has such considerable strength
eau be founi in the application OF personal
feelings to national problems. When man
has conducted his affairs in such manner as
Co bring himself to ruin, it is not unnatural for
HIM TO seek some explanation OF the disaster
which will AVOID confession OF his own folly
or ocapacity II he can place the responsible
ity upon some cause that is beyond his indiyid-
nal control, such az a financial policy enforced
by the Government, he salves his own vanity
aod makes bid for public sympathy
EVERY spEcULAroR.
who has been plungipg about wildly and reck
IessIg amid the waves of inhiton only to en-
counter catastr)phe when the pillows COM
msuced 10 roll IL upon the solid shore of hard
money, finds handy explanation OF his mis-
fortune, in the policy OF the Government
tending to eGuilizs currency values with coin;
aud behind him are thousands Of humble men
who feel the pressure OF hard times and are
eager to accept his theory concerning the eau
ses Of Their distress. The man who shuts his
eyes and refuses to see the truth. and the per-
son who has not perception enough to compre
heud it when his eyes are wide open, supply
ample material for the demagogue to caio,e
and deuie; and the manner in which green
pack doctrines have been taken up and
preached shows that nothing is too absurd for
. a CHAR gsabls politician to swear By, il he
tn nks he has considerable body OF voters to
back him ".
But intelligent men who stand outside OF
the uut4inLiag crowd AID observe
CAUSES AND EFFECTS
for themselves, have no difficulty in perceiung
that It vas hot the need o. a greater volume
Of currency that dragged many Of the present
converts to imitation doctrines down to bank
ruptcy. The -uir va, caused b. persistent
aud long continued violation o. the simplest
and soundes. rules CT business and the ratur-
a. laws thai regulate supply and demand Too
much credit and too Little cash il Z formula
that expresses the fact CT the matter with per-
used It for the promotion OF vast AID hazard
Gus enterprises IN with they would not have
veaturel money that they had earned. These
we're undertakings which were certain to col
lapse, because they were not needed, and which
effected ruin when they burst, for the reason
that they were built upwn the foundation OF an
excsssve credit rather than that OF actual
wealth. THIS is not newly discovered truth
by any means, DC: while ths greenback craze
continues, it caano. be too frequently urged
upon the side o: sound principles and common
sense. Il Is theory that is susceptible OF
proof. illustrations oS the fact that it is war
rantei lie thick upon every side.
The Philadelphia BuHe,ia a1duceo one such
illustration in the history o: the operations OF
we'll known individual in city in the interior
OF PennsylAania, WAC overdii his own enter
prses. The Bulletin says % tins particular
case: 4" tie had large saw mil and lumber
interests in which be was successful. but having
an adventurous spirit AMI Unlimited faith il his
eluIl as dnancier and his foresight a. a specu-
lator he was 10. satisfied bat yea-ned for a
larger Geli in which to achieve fortune. He
erected huge hotel, witch was far in advance
OF the needs o: the town. and which has beer
half empty much OF the time since it was built
me established race course: be put up snowy
opera house, which was not wanted: he coz
structed horse railway, FOX which there was
1.~a IA "A
resort iu the mountains; he bought large tracts
OF land upon the edge OF the town and covered
them with houses for which there we're few
tensuts and went into many other enterprises !
o. like character. OF course they added to
the attractiveness OF the town, and they seem
ell to represent az excellent pubic spirit II |
was good thing to have a superb hotel in the |
place; but credit alone could supply the money
TO build It with. It was pleasant to have fine
opera house. but the man who should be asked
90 put his earnings into II would hesitate until
he ascertlined If there was reasonable pros
poet OF return for the investment. horse
railway was convenient FOR those who wanted
to move to snd. fro upon the route, bet under
cash system lt would not have been constructed
until The number OF such persons was large
enough to make the enterprise profitable"
The result was that the man who wen, into
these schemes had a long and desperate strug
gle, and ore day his whole fabric came down
with crash. HE creditors teized and sold the !
property, aud the courageous fuanc.er sadly