The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1878-10-04

~~S ~~.~~-~
fame the idea that whether we are naked OF
clad, hungry or wen fed, secure or insecure,
depends on the administration Of public affairs
| The truth il, men are looking to the State to
do only what can be done by individual effort,
it seems to me. do not believe that q remedy
for "all' the evils flesh is heir to-" is to be
found by placing affairs at Lansing and Wash
! ington in the hands Of men who will be honest,
simply because they are ignorant. / do not
believe we can afford, at the present time
esp ecially, to "break in q new set of officers
who must make some mistake, who must 60
slow because they don't understand the bust
ness and most OF all we cannot afford to place
affairs OF the State in the hands of men, lily
prepared against sophistry, unable to meet
argument with argument, nor In the hands Of
men unable to improve the condition OF their
own affairs. Still with one party failure in
private affairs seems sufficient recommend
to place him in control of vastly more compli-
Gated work in public affairs Strange philoso-
ply The appeal OF the times is to better
quality OF statesmanshp-to legislation by
men whose success shall be based on "intelli-
gence, character, liberal views and deep sym
pathy in public welfare. Our recuperative
force will come, as come it must, from lntel
gence and worth in our public men. The peo-
pie usually prove at the polls, that they prefer
to have their common interests cared for by
able men, and let worthless asprants 90 over
board by their own actions. AS we predicted
some time ago, the Republicans have placed
good men on a good platform, and are COM
polling the Nationals to meet facts with facts,
or go over the board. Unable to do the former
1t seems very probable that about here they
Will be obliged to do the latter. They have al
ready taken shot drops till they can't rest.
Is there money enough in the country to
meet the demands OF trade? The Green
hackers" regale the public mind with the idea
that the policy of the government In contract
ing the currency-as they term it's the cause
OF all OF the evils and hard times about which
so much is said, and against which so much
eloquence is Illuminated. The panic of 1873 is
charged as the inevitable result of contraction.
In 1861. when the war was precipitated upon
us, our population was 100000, we had
$3.50 900, 900 IN coin and S2O2 100000 of wild
cat and red dog paper money issued by the
1000 banks IN the L. s., making 452,0O0,O00 OF
money, all told. To day our population is A.,
100000, only 100000 more than it was in
1861; we have of the U. S. legal tender notes
Sac, 0O0 900, national bank notes 1924 100000,
oil var in o;r
ton $66 900 900, making total Of s7S6 900 600.
Subtract the amount Of money in 1861, from
the amount we have now, and you will find,
that while the increase IN our population has
been but 12,OOO,OOO, the increase Of currency
has been 1884 100000, an increase Of money
entirely in excess Of the increase Of population.
Let the government march on to resumption
as proposed by the republican party, and we
add to this amount the amount OF coin in the
Treasury S23S, 100000 and the S120,0O0,000 Of
coin estimated to be in the hands Of the people
and in the vaults Of the banks. Resumption
then means expansion, and not contraction Of
as good q currency as any nation on earth
possesses. Has there been rcontaction? In 1865
Aug 3lst there was OF the legal tenders 1884,
OOOOOO This included $33,OOOOOO of five per
cent. notes, and S217 100000 of the compound
interest bearing notes. the latter drawing per
cent. interest, and both classes were due and
payable IN three years from the date Of their
issue which must be conclusive that they were
resorted to only as temporary expedient.
There was left but 1890 1000 OF the nom
interest bearing legal tender greenbacks, add
to these S176,OOO,OOO Of national bank notes
issued at that time, and S26,000,000 fractional
100000. The amount in 1873 when the panic
came, was &74s,OOO,OOO, and from 1866 to 1873
there WAS but one year in which there was
more money in the country than We had in
1873 and that was IN 1866 when the aggregate
was $750,000,000. Panics are the result Of an
abused credit system, and the legitimate out
growth OF speculations made possible by the
use in country Of deprecated paper cur
rency. By the use OF deprecated paper money
the sharp, shrewd tradesman, by speculation
on its fluctuations, amasses his millions, and
as there is no wealth produced except by labor
it follows that these colossal fortunes are
forced contributions from the laboring man and
producer. The National party proposes a
return to deprecated paper money, thus re-
producing another harvest for the Spectator
and non producer, and this too. at time when
the business and property of the country has
adjusted itself to stable and coin basis. VIII
the people force us back into another period
of irredeemable money and set our business
afoat, and the values of our property to shift =
ing from day to dsv? Let us pray God to
save us from another such calamity.
The Toledo convention said that the volume
OF the currency should be certain amount
per capita to the population" Geo. J. Colby,
recently Of Reading In this State, but now Of
Cincinnati, in small pamphlet on finance says
1T has been popular error to suppose that
the volume of currency should be maintained
pro rata to the population" Colby suggests a