The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-08-08
MORNING. AUGUST S. 1875

becomes pOlltCal economist, and believes
himself an authority on finances. Some.
believe in the abolition of tho national
banks, and u substitution for their paper of
q currency issued directly by the govern
ment; some hold TO q contrary belief, and
uphold the present system; some want to
postpone the resumption OF specie payments,
while Others want TO hasten the period of
resumption; some believe in single stand
ard, and some in double standard; but the
government has settled this question by
adopting the latter. Behind all the con-
ilicting opinions, however, there lie few
INCoYTRovERTIBLE FACTS
which it is not wise to lose sight Of. The
depression does not atilict the United States
alone, but is really greater in some coun-
tries than in ours. The machinery Of the
worlds business seems to have come TO a
standstill on what the engineers call dead
center. There are no large bodies Of men
on the battlefield to require clothes and
food from other countries. There are no
great public works going on anywhere, and
in this country our railroads are mainly
built--all those at least which we require
or can use at present. The government is
disbursing no large sums Of money. The
markets for manufactured goods and
machinery are glutted, and everybody is
more or less the sufferer The laborers'
wages are low, but many men called CAPT
talists claim that they make no wages at
all, but are using up all their substance. If
he be in mercantile business, he says he is for
tunate if he meets his expenses, while the
great number Of mercantile failures through
out the country during the past few years,
and during the one Immediately past, part
icularly show the enormous losses in that d.
rection If the capitalist has his money in
hand, he finds il almost impossible to loan
il so as to make principal and interest Sc
cure. So he is driven TO Government bonds
which, as now being funded, pay so low a
rate Of interest as to make it impossible for
a man of small means 10 live of the invest
mcnt. If his money is in unimproved lands
or lots, it is depreciating all the time, and
the taxes (Which do not change with the
tines are eating up the principal. If the
money be in improved property, it doesn't
yield enough to pay taxes and interest on
the investment. We all know men in Chi
cago, and the same is the case every
where else, who five years ago were rich
in property but who to-day cannot
pay their taxes. So you see, my friends,
that these bard times strike all around the
board, the rich and the poor alike. We
| should expect to meet these things in the
battle of life, as they occur in all countries,
at intervals, and always will; we should
Il, a..
thankful for food and rament, if we get
no more, until the wheel shall turn again on
| the side Of prosperity, as it surely will, in
! time. But there is no use to cite these
things to you, my fellow-citizens Of Irish
birth and descent. You know with all the
| drawbacks what the real
BLESSINGS OF THIS GOVERNMENT
are. You know what glorious privileges il
conters, and am sure YOU will never suffer
yourself to be led away from the paths OF
reason and duty by the hare-brained crotch
cts of fanatlcal and impractical men. You
will value at their true worth all these real
lied dreams Of liberty and equality fol-
which an Emmett, a Burke, Phillips, {
Curran, IA Grattan and an O'Connell, witt
all the rest of the glorious troop of lrisi
patriots, sighed in vain; and should thu
time unfortunately ever come again whel
these great prerogatives of your adopted
country are threatened, | am willing Il
stake my own word,
THE son OF AN FRESHMAN,
for the honor, the courage, the sense o
right and the patriotism of the Irish peop
in America.