The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1878-03-07
70 BE DRoWEED DAGAB.N

The principal cause Of the present
prostrated condition of the country is
the paper money imitation of our late
war and its influence was not confined
to this country alone. It is traceable
very clearly to almost every country in
Europe with which we have had deal
ings, and where our national and other
securities were largely bought.
In I86I~62 the Government of the
United States suddenly broke upon the
world as the purchaser Of a thousand
millions per annum Of commercial com
modities This demand gave tremen-
dous impulse to production, not only
here but everywhere else. The paper
obligations OF the Government were
poured forth in steady stream to pay
for its purchases, till they flooded not
only our own. but nearly every foreign
market. This flood Of paper, green
backs, bonds, certificates Of indebted
ness, and every other form Of obligation,
advanced prices, stimulated production,
reused enterprise, encouraged extrava-
gance, till we became pretty nearly a
nation of spendthrins, outlying one an
other in prodigality Of expenditure.
We have now had one long continu-
Gus term of paper money debauchery.
For the last four or five years the evil has
been gradually curing itself, and the ma
ton has been sensibly recovering. A
year or two more, if we were let alone,
would finish the work, and we should
find the country restored to its natural
vigor, so that it would start again as a
strong man for race. But just as we
are getting into this condition we are
confronted by great crowd of legisla-
tors from the South and West in Con-
gress, exclaiming that the country is per-
ishing for the want Of supply Of cheap
money; although the thing that has ruin
ed us is the very thing we are told by
this new crop Of statesmen is what we
need to revive usl
To raise this cry at this time is 10 exN
hibit total ignorance Of the great facts Of
the situation. 1t seems incredible that
men Of ordinary intelligence can so over
look the actual state of things, and so
fail to comprehend what has produced
the disorganization Of industry and the
prostration of trade that pervades the
country.
The patient was nearly drowned in
the first food which poured upon him
so long. He has been dragged out by
the hair of his head, and the process of
resuscitation is nearly completed. Now
it is proposed to immerse him again in
order to complete the cure.
An Aztec would know better.--N y
SIN. ......
The SIN is in error in claiming that
people South and West desire initiation
again. We know too we'll the evil re-
suits of initiation, as we also know the
sad consequences of forced contraction
to enhance the value of bonds, depre>
ciate all other values and plunge the
into general bankruptcy. We
know there could be no contraction if
there had not been initiation. And the
infamy in both the initiation and con-
traction has been that our rulers mag
aged it all in the interest ofthe bondhol-
ding and moneyed power. This is un-
deniable, and the injustice amounts to
absolute robbery and ruin of the people.
Labor and business suffer that these faN
vorites of the Government under Re-
publican rule may multiply their mil
ions.
No, Mr.. Sun, the people South and.
West want no initiation, but they do de-
nand JUSTICE,