The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1878-02-22

rASI Ann PRESENT.
The ts'.ah"sx Hrsl~~ 10 tsm Ne.ssseYs
thur It's, IN. Cause wAd th~ tnr~ gam.
rset~ fasAit~t " tsl.s.ss.
isusu ths Nstlsnsi ntpAAieanl
From 1907 ~ is2a England uasl nm
exclusive paper currency, The mighty
struggle with Napoleon carried Ill her
coin 10 The continent Convcrtihllity Of
paper hank.no,cr became impossible,
aud In l1p1 the Bank IL England was
forbidden 10 pay coin for its bills The
circulation thus relieved of tho arbitrary
limits imposed hy convertihilty cx-
pan,lel 10 meet the demands OF tho na.
ton. II enabled England 10 sustain her
.lecimntcd aud dcspairing allies and Ia
IL strny the armies Of Napoleon. III gave
10 her thu most wonderful development
and glory and prosperity nncxamplcd
In her history. Like cur own green.
hnck, II proved her savior In war and
her bcncfactor In peace.
hui, when the armies III Napoleon NO
long threatened their possessions, mn
arm, ~ bnllionisss, londhollcrs, Ann,,.
itanta aud "wreckers nj once came
down ~ prey upon the substance III thu
people. They demanded TINT specie pay.
mentK should be resumed, and I'll III.
ichts incurred under the paper standard
should hc doubled hy bcing made paya.
BILE Ia coin. Against the protcst oi all
the practical business men III that time,
these conspirator~, aided hy thu ,loctrin.
aires, passed the Resumption act u
isi!l, ~ take effect ia 1s1a. a. with IN
they gave four years notice. hnmancly
cutting on the nations right arm Tan
inch ut time" The same process was
used IN by our McCnllorhs md Sher.
mans The currency waA contracted Ii,
volume, NJ IN 10 innke IL scarce and
denr, Jnd thus enable the fun,lholdcr and
mortgaHec tn obtain vnstly greater
amount u the products II labor for In
/ nsc. Az resumption III specie pay.
! mcnts IL was n miserable fraud aud Il
lisgrnccfnl failure.
I An means Ut brinEng meAsmrelens
ruin npon a prosperous and happy poo
pie II MAN 4 magnificent snccch., ruuulr,
only by thu wrctched cheat 81 resump.
i tion by destruction" which ID being
/ crowded down the tlroaln III American.
% lay by tho modern pirates u
] change.
The Edinburgh R,riem Of ls30 con,
tnins picture drawn nearly fifty year,
ago, in whose lineamcnts WI can nee Iii.
counterpart o! our own country to-day,
That conservative and authoritative jour,
mi Ina painted, with the utmost minute.
ness of detail. \ faithful portriturc oi III,
United States la this crinia. I.et over,
thoughtful citizen read, think, and RI,
solve. The article from which VIZ quot,
IL upon "rhc Cause ri thc National Dis,
trcss, and IN written seven years rft.l
the so.cAlled Resumption not took effect.
y first ably disroses Of the iilppant and
shallow excuses ri returning peace and
oserproiuction, m the cMn.c oi the wide.
Hpr.nd suffering. II points out clearly
thu true eanse In the appreciation III th.
vnlns ~ money. anu lin Increased power
over production anil trMlc. II says:
I'eaer ina! pefhAps accoua. Tor lowering
~ tle rate VI profit. but II affords no explAna.
tipn fur fall III prizes exceeding the reduction
IN cost.
The slukinr credit NJ all Engaged IN ptnd,n.
tun nr trade. and thu general slpHrntdrncs 1T.
test that rrir.r have been CONSTANT. inipsl,.l
below cost. The rtuAdiu-t IidnstIv can ~
longer insnre rnccars. Tho bert-foatsied ~.
pectations end la disappointment Iils Msesi
seh.nlsr lend only forum. Il Il not nns branch
" Industt, only that fsels tLe pressure Of III,
tlnier all arr equally bufne i,Wn hs the Up
precision,
A Rise In slsu value ~ mosss VI, Id d i.atlonA
laint ~ view, All unmitssated .sil. Il il by II,
nesnr III. diiee, consequence. u such rls.
that constitutes IT, greatest evil.
III addition which the rlAe causes Iii The
pressure ~. EVERY debt. Every tax In short,
livery iiAad nuney elalm eanliet 10 avoided
W.r. lhr use general, understood beforehand
II would nni sastsr Inf IL the di#sras~ which II
d,es nnw owing IL lia silent AMI nns,arl~rtad
rrakrsss, 1l.vrc II 4 popular disposition Il
regard thu measure ~ lnyariNlla. Thence ths
universal perseverance, ~ accounting fuf TIL
fall VI prices ~ ahs ssusa other thaa this
thence tn Indulgence. ~ Lupus aud I.laHcs ni
calculations founded ~. pasl NIarlelisn axrit,
Ing Ii activity, wh.n the knowledge III ths
real eAufs would dictate strictly nAssivt
attitude u iii engaged In business. II vi
consider TINT capital H. An Intnenso amount
has benn destroyed, suffering, mural AND
physical, - d narrowing nsiunt. inflicted
w shAll ~es the urgent neres.ii. IL Irolnul
RaiinH aetiitat. knowledge ul this snbjuct
which n VI. main rA..A. ~ tlss present dl~srurs
IN tho procession VI nnifeIuTH precedence |,
gl,en on ssaf, ground 10 those wlla derry,
their income fro,n the soil. In il.e direct ralis
ii tlln fisc IN value II muney iiu pressure 81
rent and taaas "a land increases, Will. Il Iii.
sAn. time the tall III the elementary anst III
production IL mulch slower than in that o
prices y, market. The year, product fails Ii
met lho untgaeS, and tho farmer mAtnr lin III.
.ieiisi.lcy ffnn his capital Tho nuM Year i
IL NJ better sill liz feo.n eundent ltAi bu.to
times will saun csan., hi eause Ii. caaisns No. al.
Invisible hand Which rrlenilss~y rars.sssas /,
depFislng him ~ his toll lIut the .tara rpl
on aud bring m rrilsf, unli Ills capital ii ~
ha.f.t.d aud ruin aH#.ss. Al lung NJ ,bn,Ha,
rl~ts In value tho dassfliatl III III capital invest
"a III farming sDca steadily IN.
Tho manufacturer eomta neat. eaien!sttnr
on thu STABILITY N n4itsas, he erect swrhu, h,,y,
material, and puts hiA gvtdn up,n il,e marriott
Hut hn tinhr, t. is drinay. that tlirrs hays
fallen H'low tho rsst ~ production. ruenn
rslni,e ~ the true ral.u ~ ltiH falat., III ~
erilnn II III HAnaltpfs condition., s.,an /, I,as,
AMAs. Ito returns u ILL., work. IslIng fur TIT
ter anss,As AeAt year bmt again aud aasln |,
tin TrAul, tim Hatp. Diehaalt.nai ~ thu Ind
ilsAH III thu iisnNr Ill. prudent insn ill.sla Iii,
operations. III. ADVENTUROUS I.dpilluH hIs ~
uTll,t,s n,,ly II sink At lellHth into bankruptcy
~ this prp.eFs pnu-laf TIN Cal llal invested Ii
machinery IN. LeNn lu.l during the lat ilft.at
years. The lAhprura aharu III tho misery and
~hila tho same cause cnusinuss to operate. shs