The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1879-09-12

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ard sessefe The tHnsn I'utt HaHt.
ff3fees.
W. hase had Resumption ~ ~
mnnshs Nr~ hnw mnrh r,,li ia sltrs.
W suns rnrlr,t Are saa lu~.iea wi,h
iss Have zen est rnoaph III N VI
"sstvnrslWn The lnhlir rrtiiss' Arr
soa Iasine IN srnt mortgages easily
and lssing seat sas.a ~iih.,a, l,nal,ies
lsai II sou haven't any peli ~, ,hen
What rnal has resumption .iane YEN
TRY saiA sh.y Wanted I,sll for thu
iafmrf md lalrtef n will A. Or the
lssntlhnlirr. The tondhpl,l.t rrt~ Ill.,
srlil gald every THREE months, lir~
ciirn 10 ycn pwl ANY, nnnt " look NJ
though the people had lsvn hum.
hnceede Portland tMsl Leaai,r.
Immediately after the elose II ,leri,il
war In is'la, when III. country ~as sup.
piled with sufficient. currency 10 transact
IT, business without embarrassment.
only ~ business failures we're reported
for ihc year. The succeeding decade
showed Nv careful estimate MI annual
increase n siMO IL sl.2nA.ms, MW, ag-
grrpalinp not lcss than siu.uHn. ua,,Oln
for The Ten YEARS ending In ls1I, From
that time until the villainous scheme al
robbery, acnominatch resumption"
was contaminated, all of this vast nc.
cnmnlation III wealth Ind been swept
into tho pockets III thu moncyrsl power,
leaving business PROSTATE. the roads
lined with tramps, the prisons filled
with criminals, the streets with
wrctchcd bcggarr, and the laborcrs'
houses with want and VOC. Ono thou.
.anl business failures occurring during
the kamc year attest the enormity oil
TINT nngodly crime.
Tho following incident, which IN net.
uni, illustrates Clio effects Of contraction
upon people who depend upon the
banks Tor money facilities, IN also the
methods by which profits accrue ~ the
thieves who manipulate its workings,
A Mr.. II. became Tho purchaser ~ q
honsc for which he paid %a5,OOO down,
leaving balance duo with lien upon
the premises III $4,000, secured by
bond ani mortgage. The nccrning In.
terest amounts 10 s3,h0t,. taxes n 900
more; his business failing, ha cannot
keep mp His interest. and offers Tho
premises hack 10 tho former owner,
willing 10 lose thu $4,000 and NIL other
sulns paid In. This does not suit tho
Shslock. who forccloa.a for tho lnr-
pono VI buying IN tho promises ~
cheap IN l,o can, and holds the mnfort,i.
mite debtor and Ills sccirities for the
balance. Tho premises arc sold, hut
bring only 100000. leaving tho an,ig
little snm of si0,OtO to hang like n
nightmare over his future. This ~ hut
one ri thousands which arc constantly
occurring, nnl furnish q sufficient mr.
gnment against existing SYSTEMS III
money facilities.
During tho war, In 1sda. tho Govern
ment was driven Ia tho necessity III IT,.
suing paper money 10 pay tho soldiers
for their services In tl,e field, md tho
farmers for their subsistence ~ feed
them. This VIVA lAxt rotort ~ which
II uas forced by tho greedy sharks who
controlled Tho money--in refusing 10
loan except ~ such rates oi interest
TINT II VIVA impossible 10 comply. Find.
Ing tho grccnbacks y more desirable
money than any other, tho people were
anxious 10 pcrpttnate their existence
not only on account of their convcn'
ience and safety, bnt because thcy were
liberated thereby from thu tolls u tht
sharks who had hitherto manipulated
Nil money transactions. No M to obtain
thu largest share III Tho products of the
different indnstries. Had they pos
scssed tho same facilities 10 cheat the
producers III wealth under tho green
back system - under tho national
banks, Tho actto strengthen tho public
credit would never have boon thought
III. aud tho names I'll its infamous ~
thors handed down 10 rostetity, conplet
with thu infamous notoTiety of that acl
~-Nali0udi ttstB,