The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-10-25

other species Of property; Is 50 depressed
that the capitalist will not touch It. Inc
reverse Of this Is the universal experience.
Capitalists always are the treest buyers
when property Is the lowest. They buy
lowi nithe expectation Of o rise.
Locally. here in Indiana, the rate Of
interest Is high. But Indiana Is only one
Out OF thirty.nine States. The true test Is
the ayearge rate throughout the entire
Union. The reason why interest Is SO
HIGH here in this State Is easy to explain
II Is lack Of thrift and Selt.support In oui
people, In Massachusetts,, o smaller state
IA territory and population than Indiana
money to-day Is drug at per cent. In
Massachusetts, In every goodsized town,
there Is a savings bank. The poor people
~ thaf State have S24e, 000, 900 laid away
for rainy days. These banks belong to
the mechanics, and day.laborers. They
receive dime deposits. In Indiana, out
side Of Indianapolis, there Is not single
savings bank. Our entire savings bank
capital docs not amount to $2,0oO,OO0. II
We had s246, 900, 900, like Massachusetts ouI
rate Of interest would be at once lightened
Again, We pay the East $7,000;0O pei
year Tor insurance. This Is all wrong
I'VE ought to do our own insuring. Who
ever heard OF Hoosier insurance comp
any taxing risks In any OF the Atlantic
States? As with insurance, so with 0
score OF other items. We send our sons
and daughters abroad to Connecticut and
Massachusetts, for education, instead o.
natronizing our own Wabash, Asbury
Hanover. and Perdue. II We want rest
instead OF recuperating among the p es.I;
full scenery and healthiul breezes Of Maoi
son and the Ohio River. we post on &c
Vermont and New Hampshire. we spenl
outside OF our own State last year ioi
Education and recreation over Sl,0O,OOo
Within the last fifteen months we have
sent East S., 900, 900 in interest. As long
"a we keep up this system we shall con
time moor. We shall never own our own
canitai, as the East does, until We become
seii.supporting and independent OF the
And now having disposed OF the Dem
ocratic charge Of contracting the currency
let us next inquire what in truth Is the
carse n the present distress. Just before
The war we had 500, 100000 paper. The
Government was consumer IN me sum o.
800, 10000 per annum; ~ suddenly oui
currency rose to $500, 0O0, 900 Of paper and
the Government became q consumer o.
81 900, 900, 900 per year. Every farm, iac'
tory and industry was strained 10 the VI,
most 10 meet the demands OF the United
states. The over issue Of paper OF opce
demonetized gold and silver and shut US
in from communication with the worlds
exchanges. Thus We we're deprived OF the
henefits OF the great international none
tary tides which distribute to each nation
With unerring regularity their exact share
AZ Inc $1,000, 000, 900 OF gold and silver
which Ia estimated to BIO the worlds stock
AZ precious metals. As with the winds
and tides in nature so with trade Excess.
siye heat in ono part Of the continent
causes the air to rise and create 0 vacuum;
This Is filled with the surplus stock Of cold
airin another continent, and 30 the balance
Is held even. SO with real money. The
commercial world is vast pair OF scales
and the equilibrium Is automatic. ltmoney
Il scarce In England her prices fall and
the stock OF gold and silver in the United
States, attracted thither by the profits. 70,
stores tho equilibrium. II, nthe United
states there Is a plethora Of coin, prices
rise. and thus coin leaves the New World,
ana seeks, attracted by the profits 70 be
made by importing goods to tho United
States, IN the markets ofthe Old World an
Investment in their profitable wares, and
30 INC balance is restored. When, how,
ever. a nation shuts itself out OF these
great tides OF commerce by adopting q
Currency not recognized by the laws oil
nations. the result Is nothing but loss.
The candle burns at both ends. The
Isolated country Is constantly drained o.
is gold, and receives nogold from abroad
% Supply the loss. Paper money Is 0
swamp. No matter how much water you
pour into tilt absorbs It all and stagnates
until fresh supply is given. There is NO
outlet There Is no stagnatlon With Q gold
and silver currency, for there Is an
outlet that carries It off whom in
excess, and supplies It from the
worlds stock when supply Is do
handed, Here, then, was one grea'
mistake that tho Republican party is max
ing haste TO correct
The second cause OF hard tipes Is the
great distractions and bad Investments o.
Tie last fifteen years. Take q few OF them
By the emancipation o, tho ,hres We -, a., a,
rs G' national s5t al tS siSsS ,hS VA
Representa- destruction ot............ aoo00pooS
rho' Thiea1o RoStan md pOrtland hFeN I.Is