The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1879-05-15
Resumption and the Industrial
lntePeRto.

q and the Industrial
Intefests.
In . recent interview Ex-senator
Matthews says of the Secreta-
ry Of the Treasury: Secretary Sher-
man has accomplished the great mis-.
sion for which he was called to the
Cabinet in bringing about specie pay
ments without damaging the indus
trial interests of the country" But is
that true Mr.. Ex-senator? Has specie
payment been brought about without.
damaging the industrial interests Of
the country2 There is hardly one who,-
on his v0ire dire, would answer in the
Affirmative. The world knows the
contrary. Resumption has been ac-
companied by the tears, misery, agony
and bankruptcies Of the Secretary's
,countrymen. Thousands have gone to
their graves broken hearted, and tens
of Thousands of others have had their
worldly prospects blighted by the
Sherman policy of resumption. And
where have his praises come from2
That tells the story. They come from
the money interests. from the classes
who would profit by money being
made scarce; not from the toilers,
from the industrial classes, for they
were the sufferers. The blessings of
the capitalists haye been upon him,
and the curses Of the poor. That fact
should and will wither tho popular
aspirations Of the Secretary for all
time. Hon. Henry c. Carey, Of Phil
adelphia, in the Penn Monthly for
May, does not agree with the Ex-Sen-
ator, and sums up the results of the
vicious resumption policy in the fol.
lowing truthful and vigorous way:
BY the census of 1870 the money
value of the property of the country
was given at $4,000, 100000. In. the
natural course Of things with the addi-
ton Of more than ten millions to our
population, accompanied by the almost
creation of New States and Ter
ritories, the addition of that value, as
to be shown by the census of 1SSOnoW
80 near 1t hand, could not be estimat-
ed at less than 60 per cent, giving
$4S, ,OO0, ,C0O.OO0 a. its present amount.
As now estimated, it can not, as we
are told, exceed $2S,C30, ,OOO, 600; ;. the
difference OF $2O,Oc0 600, COO represent
ing the tax that has been imposed
upon our working people and our men
Of enterprise, for the sole purpose of
enabling foreign agents, with which
our cities so much abound, to avoid
payment of premium OF some six,
eight or ten per cent. upon the gold
required for payment of their impor-
tations. That, and that only, so far as
l can see, has been the result of pol
icy remorselessly pursued throughout
tho last four ears, and which, at every
stage of it's progress, has been accom-
panied by bankruptcy or rSavingsBanks
Insurance Companies, and other mon
eyed institutions, to the utter 1 uin Of
and tens of thousands depos.
itOrs and stockholders men and women
wives and children; by q destruction
OF railroad property, and imp0verish.
ment of it's holders that counts by
thousands of millions; by q collapse
of that coal region which had given
to the Union, in the time of it's great
est need, nearly all the force required
for maintaining the blockade, for rum
ming our mills and furnaces, for ena-
bling our people to contribute to the
revenue by q destruction of demand
for labor, that causes hundreds of
Thousands Of men and women to re-
main idle whom they would desire to
be employed; by an almost entire an.
nihilation of that immigration to which
we ought at this nom0nt to be becom-
ing daily more and more indebted for
importation Of workiDgmen and wo-
men whose annual value to the nation
counted by hundreds of millions by q
desay of moral feeling consequent
upon the daily increasing difficulty of
obtaining food, clothing aud shelter
by an exertion of honest effort; by an
almost entire disappearance Of that
activity and energy which prevailed
among our people when they were an
imated by hope-by that faith in the
future which has now, by aid of sue
cessive finance Ministers who have
followed in the footsteps of Secretary
McCullock, given way to an almost
universal feeling of despair and by .
total disappearance of that national
self-respect which had existed when,
setting at defiance .he threats OF for
eign bankers, our people in the days
Of its most serious troubles, gave to
tho Government all the aid it needed,
and thus established Q monetary inde-
pendence such as we never before had
known, aud whose destruction has, by
Secretary McCulloch and his success.
ors to the present hour, been since SO
sedui0usly sought