Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1878-09-26

were honeycombed with the dishonesty begotten
by and born of an inflated currency Of course
to such q disease there could be but one end.
The walls of the bubble burst by dilation. l
think Indianapolis knows what that means.
For time after 1873 we attempted to put off the
evil day by borrowing We built up vast
structure of debt nnd credit upon the shifting
sands of imitation. Like the foolish man of holy
writ we hoped to weather the coming storm in
our paper house, and so We shingled it with
bonds and mort cages. But in vain. The inev-
table fall came He that dances must pay the
piper. No man ever learned the art of sera-
rating debauch from headache. We. as a peo-
pie, were for ten years crazed and Intoxicated
with imitation, and now what we call hard trlas
is the inevitable headache. The experiment has
been tried an hundred times, anu au hundred
times failed. History is full of examples. The
result has always been the same 1t is the old
story OF Samson aud Delilah.
a. In this fearful delirium the real sources of
our national wealth were slowly but surely
wasting away. The following statistics will IN
terest every farmer in Indiana. They are fur
nished me by Mr.. Bradbury, of Indianapolis,
who he's carefully investigated this Whole sub
ject. From 1865 to 1873 we built each year
5.6S5 miles of railroad at cost of $2,202.7 no.
900, or eighteen miles per day at per diem cost
Sl,OS9,2Oo To keep mp this rate of railway i'm
provement our people must increase 3, 4o0.O0O
per annum. As matter of fact, we increase
only at the rate of 100000 each decade.
In 1860 with a population of 31.500,000 we
manufactured 81 1886. 750. 900 of goods $50 per
capita In 1870, with population of 3S, 1000,
we manufactured 81. 232, 600 of goods. or at
the rate OF SilO per capita As every laboring
man has five children and women depending on
him, under such stimulus of imitation he must
needs consume $3.50 of goods to keep up with
the production. And yet we are told there is
no such thing as Over-production! l admit that
i'll the long these things correct them
selves, yet it is the procese Of correction that
makes times hard. Now, in contrast with this,
look at the agricultural statistics. We raised:
In 1860 of hogs 33.512. 1857 head; in 1870. of
hogs % head loss sseS hed
of corn, 7so, ga, $40 bushels; loss, n, s4s, 1873
bushels.
In 1860. of rice 1877 1e7 os2 bushels; in 1870.
OF rce 73,636,o21 bushels; loss, 113,o33,oll
In 1850, of tobacco 434. 2o9, 461 pounds; in
1870, of tobacco 262, 735, 341 pounds loss. Ill.,
In 1860. of cotton, s. 3s7. O52 bales; in 1870. of
cotton, 3,011, $50 bales; loss 2,375,O66 bales.
Thus that during these years of appar-
emit prosperity the farming interests were all the
time dwindling away. Notice these figures:
In Indiana the total number of farmers in 1860
was 1919, SAL; in 1870. 18l. 1876; loss 1886
In Indiana the total number Of day farm laborers
in 1860 33, 92s; in 1879. d $685. loss, 8. los.
As compared with this loss of farmers compare
the gain in city people:
In Indiana in 1850, there were 10, 5S4 carpenters;
In 1870 l4lI carpenters; gain, 1920.
In Indiana in 1860, there were 3, S58 clerks; In
1870, 6915 clerks gain, 3.057.
In Indiana, in 1860, there 8, AL traders; in
1870, IL 6S4 traders; Increase. 3.243.
Without giving details, all classes of city peo-
pie in Indiana inc eased fifty per cent, while
the country people decreased in like ratio And
this goes tar toward explaining the tramp prob
lem-labOr displaced by initiation. Under the
stimulus of Inflated wages our male population
sought cities. When the bubble burst they
found themselves without a home or employ
ment. Like moths they were drawn into the
flame OF speculation and were shorn Of their
wings. The cure for this displacement of labor
is plain one. Our cities must give back to the
country their idle and surplus population. IL is
to this class the Democratic party appeals;
ignoring all the facts, profoundly indifferent to
their late. it panders to their distress and
rickles them with the cruel tale that voting is
to supply the place of work. Mr.. Voorhees, can
well afford to bewai their sorrows for another
opportunity to steal $1,000 from the govern
ment.
My friends, England, in 181l was in the exact
position of the United States to-day Her fac
tories and labOr-saying machinery were attack
ed by the tramps of 1910. Bread riots we're the
order OF the hour III the cities. She had fiat
money party, headed by the brilliant Van
Sittart, and the paper-mOncy party for the time
prevailed, end actually defeated the adoption
of the famous Bullion Report that has now for
fifty years been the A b G of finance. Fortu-
nately the sober secOnd-thOught of the English
people prevailed. After a suspension of specie
payments for twenty-five years. in 1924 England
resumed, and is to-day the richest nation in the
world Had she followed the counses of Van
Sittart aud his party she would have been like
Austria, III hopeless bankruptcy.
WHAT IS THE CURE FOR HARD TrMEs2
There arc three cures in the market pre-
scribed by the three great political parties.
Let ne briefly examine each of them. The
National cnre for hard times: This consists in
the United States government issuing fiat
money in amounts sufficient to pay all debts,
public private to put labor a cash basis,
aud relieve the debtor from the jaws of the
creditor classes. Fiat money is the legitimate
product of Democratic teaching. From prom
ise to pay by the United States government,
which is the essence of the greenback, the tran
sition to printing on bit of green paper "This
is g., and a legal tender for all debts-Johu
Sherman, secretary" is easy and natural. Fiat
money is irredeemable greenback run to seed
The same fallacy underlies both species of paper.
That fallacy is mans inability to create an thing
God creates-man regulates. The green
back, separated from its ultimate redemption
| is not money. At best it is only forced sub
stitute for money. In my Judgment the consti
tuition Of the United States prohibits our green
backs except as a currency called forth by the
| exigeney of war. Its legaltender quality is oil
| the same class as the governments power il
war to draft citizens into the army, try them by
drum-head courts, or seize private property for
national defense. Does any one suppose citi
zen could be compelled to go into the army
| against his consent in a time of peacel So with
| fiat money. / have never seen but one argu
ment for fiat money that would hold water
| That argument is that the United States nickel
is composed Of one cent coin and four cents fat
and the dollar of ninety cents coin and ten cents
| fiat. But the nickel is redeemable in silver and
the over valuing Of silver coins is simply device
resorted to by all nations to keep this kind OF
money at home. Without this over valuation
silver would seek those countries where il
would sell as bullion for more than it circu
lates here for coin. / am not surprised that
30 many men are led away by this fiat-mODey
| theory. tbs the sick chld's cry against taking
| Z o phv = ynodicina a a how