The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1878-04-11
orSSED FINANCIAL sITUA-
HON.

TIA following concurrent resolutions
Inn, 10 issue S4OO,OOO0O0 Of money
looted States notes. to be known as
y.f,rs Money, was prepared for intro
=, into the House on Monday by
HIM Hendrick B. Wright, of Penn
Ir.,i, but as the regular Monday call
s,,a. for bills and resolutions was
-. ,sscbed, it was not presented. 1t Is
,.l,...od to be, in part, the result OF
ns.uty snd research Of Geo. o. Jones,
rr o.. New York, whose growing rep
r,.,i5, ii. : leading Greenbsck Disciple
,rsons command for it careful con-
..,s-,,ion. /. will be presented as soon
90, OCCASION to do 50 is offered.
WHEREAS, l. is msnifesLly unjust for
.G,ys-nmsr. that controls by Iegisls-
IN .f- money lis citizens may use for
%s,r,r.s,.iun OF their business 10 con-
49,, ,ss amount in circulation 50 as to
s~bsrra.s business pursuits or render
grn-a...ve the payment OF debts by re-
I'm ,8e price Of labor or the value OF
pr5pef.y, The income from ~nlch was
established On Isrser amount IN use;
sli
WgsgEAs. This Government did for
many yesrs provide Its ciuz with
Is,s' tender aud National bank notes,
hiSts sld otner evidences OF debt,
which together formed q circulating
medium 8, money equal to about $50 per
sa0s.r Of population 81 that time, sggre.
,,,igg in amount nearly $1,000, 100000,
thereby stimulating all kinds OF business
r-ospprI.y and enterprise, on which vast
pgbIc. p-lva.e and corporate debts were
crested. Yu1.e payment was based on
The then existing income from labor,
property aud active business Investments
sad
NHg.E,S, By the persistent ard con
..lg1 e1ys.s OF the Treasury Depart
uga., aided 1y legislation until the pres
ent time, maay OF the Obligations which
1gr entered into use rs money have
been 80 changed or contracted As TO re
5gca the amount now in actual circuls.
tis1 10 less than 500 900 600, or $l4 per
capita OF present populations and
WHEREAs, The effect of such contrsc-
.5u has been to psralyz3 nearly alI
kinds of industries and reduce the IN
come from nearly all kinds OF property
% stop the wheels OF progress and de-
:.-ov enterprise. until 100000 people
s-s now entirely without employment,
with twice that NUMBER working on hslt
time tor half their former wages; until
Transactions in real estate have nearly all
cesse5 except by foreclosure OF mort
gsge: until the amount in circulation IS
assrly all constantly employed IN the
payment OF public dues until II has be-
come more difficult TO earn 81 IN any
legitimate bu,lless now thsu 1t was 10
earn 81 when sald debts were created;
until the .eueg alton In value
Of nearly "a. EuIs of property Is
Sd rapid ,la. ~. few who low own
money vii. not Iuyes. 1t while its pur-
chasing power is being 50 rapidly in
crossed by re.sOu o. suca depreciation,
u2.. stop laws are required prohibiting
dsposIt9rs from drawing their own money
Ol. of barks. which must end IN stop
lsTs pro1r.iIog the collection OF all
debts I.u44r-- taxes. unit. embczz.e-
uelr perjury, t1rEery, suicide or failure
marks the history o. nearly 81 our tinan-
cs.a,.u-I.0.; .n.i. failures in nearly
ST. kinds u, business constitute the most
important items OF tIews published in the
daily papers, and, fnsliy until it has