The Van Buren press., 1878-08-27
Vol. 16.---NO. 80

that honest communists will see that there
is the most want and Distress, TO day.
among factory operatives who have been
protected into poverty by the govern
ment, when, if they had been let alone.
most Of them would now be owners OF
farms--lving, not in close tencments,
but amid the beauties and abundance Of
the OPEN fertile country. On the other
hand. the high tariff men. when they
study communism. may learn that they
get their wealth by taxing others, which.
in principle, is no better than taking it
by division. Communism. in its open
form, can never do as much harm ~ Il
does in it's latent state in our navigation
laws. Maine shipbuiidcrs will not allow
our merchants to buy vessels outside OF
our country. As they cannot get them
here at prices which will make them pay,
American commerce Is driven from the
ocean of the world; and We cannot send
what we make or raise to many markets
where they want to buy what we want to
sell. But for this fact, all classes Of far
mers, mechanics and laborers would, at
this time be prosperous"
1t 10 curious fact that the weaithv
manufacturers OF New England and
Pennsylvania have been preaching the
doctrines of communism IN urging that
class of American laborcrs must be
protected and supported by taxing citi-
zens through tariffs.
"What do you think OF the gre ,nback
question Will not the West delnsnd an
imitation of the CURRENCY"
81 think not in the end, although in-
llatlon is popular nth many at this time.
There is. also, a prejudice in the minds
of the people ofthe West, growing out Of
our country division to debtor. and credit
or states, This is increased by the stupid
way in which the privilege Of issuing ma
tiona bank notes was divided. Most OF
it was given to one corner OF our coun-
try where currency was less needed than
elsewhere. Iprotested against this thing
at the time. and refused to sigh the bill
which authorized the banks OF the state
to come under the laws of congress. The
excuse for this partiality was that all the
states were offered an equal chance, but
the West was not in condition to takC
its share. But ii the rule had been made
that no state should receive more than
its share OF the national bank currency,
eastern capitalists would have establish
ed banks at the West, for at that time
the privilege was one Of great value.
Now 1t 10 not much cared for. SO that the
most OF the national bank capital 10 held
in Pennsylvania, New York and New
England. 1t is SO local that the rest Of
the country have become Indifferent or
hostile to the system. But do not
think the west can afford to have An in
Aation Of our currency. u would b.
moro harnsd by this than BY any other
portion OF our Union. Appeals are now
made, with some eject, to their prejudi.
oes against what are called bloated oapi-
talists and bondholders-a class OF men
who do not exist in this country. We
have some rich men, but they are riclisin
lands, In railroads, factories or kinda Of
property other than money, The gov
crnmcnt bonds owned in this county
arc held by savings banks or insurance
companies as trustees mainly for labor
ing men or persons Of small fortunes.
The whole amount OF banking capital IN
a small item compared with other forms
Of property.
| There cannot be more ghastly sat.
ire upon Wall street than to speak Of Its
bloated capitalists, when it Is oharnel-
house full of the skeletons Of dead cor
porations, while those that are left here
are shrunk to skin and bones A list Of
its bankruptcies will show that there is
not spot on earth where the financial
epidemic has slain such mullitudes OF
bankers, brokers and spectators. The
feeling at the West against creditors at
the East will die out. as every day shows
more clearly that these suffer most Of nil
from the tinadcial crash OF 1878. When
debtors fail, creditors must 60 down with
them. The East suffered most, Tor the
heaviest losses were Ia railroads. In the
main it held the bonds and stock which
were lost and the West has the roads
or other improvements. which are in
profitable use by it. The West will re- 4
cover from the financial shock much
sooner than the East. Population. 10
pouring into its states, giving value to i.s
lands, and great increase to its prodac-
tions. The wealth and power of the
country have moved westward. 1t sells
more than it buys; it deals with the mar
kets of the world, and it wants the stan
d,rd of value used by the commercial
world, lnffation cursed the west, for it
made the cost OF its routes of trade three
fold what they should have been. The
charges Of carrying their products kept
them ont Of the markets Of Europe.
Since the contraction OF our currency,
so that it has raised to the value Of coin,
the West has grown rich faster than Il
ever did before, and more rapidly than
any other part of our Union. The vast
exports o: our country, for the past few
years have been drawn from western
fields, and, although they have loaded
down every channel of commerce, its
grain and provisions have been taken tO
the seaboard at one third Of the cost that
was taxed upon it when our currency was
inflated 1t mas not only gained by cheap
transportation, but it hss sold vast
amounts which could not have gone to
Europe or the East under former charges.
The West has never before sold so much
nor paid prices so low for all that it has
bought. Grain has been carried from
Chicago to New York at seven cents Z
bashel, and other things at the same
rate. Formerly, they paid nearly four
q Ia. a annHRx