, 1879-01-06
How They Have inflicted lmpovsrish-
nsnt upon Our Country and
the Whole World.
THY Should We Endnre Hard Times
When Prosperity il Clearly
Within Our Reach{
The One Sure Remedy for Our Troubles,
Give Us Unrestricted Coinage
Of Silver,
Consress Should Pans tbs Lathsop
Bill Within tho Hext
Thirty uays.

n tAs Editor as 7h4 Tribune.
Cu1cAao, Jan. 4.-The supreme need OF the
country to-day Ia atatesmanshtp wise enough
10 comprehend the magnitude Ut the financial
crisis in which we arc Involved, and patriotic
enough Ia appiY the proper remedy. Il Is now
mora than Eve years since this cru Of falling
markets, staenatiou, and bankruptcy began.
Few Of us ha1 any adequate ilen Of what WAS 10
COME when thu panic first btruck the country, IN
septpmber, 1873 Jay Cooke had failed, and in
h!a fall had dragged down certain others who
had become Implicated Ia his extensive and rcck-
less apeculations. This, so the common mind,
At ilrbt was the whole nienlGcancy Of what had
happened. Soon, however, We beRap to con-.
prenend that Jay Cooke waa ontJ symptom Of
4 pEAr-sEATsp MALADT.
and that 1t would take time for tho patient to
rccuperate. Still We we're surrounded with all
the material etemcnts Of wealth ia uncqualctl
abundance, the earth brought forth its fruits
plenteously, the world needed tho products OF
oar soi, and we<Here at peace with all uu.ions
sud amoug ourselves. Surely, few months,
OF year or two It farthest, would restore Us To
financial hcalth aud soundncss. Thus men Of
aftnfrs reasoned upon the situation. And 80,
FROM season to season, VIC have been told that
t"o kovu ss'ue ""e 5ant ~ nauo' Ahea' p's-
dlctions have been repeated TO often that they
begin TO have a certain familiar sound, Ycsr
after year wo hare been 1a,tered with "vesbal
promises" ooly to he chilled by "equiuocttal
dlssppointments."
Tue year 1817 was deemed peculiarly favorable
70 return Of prosperity. With excellent bar
vests, tic Rnsso-TurkIsh war excluding our
chief coupatitiou from the markets Of Europe,
aud tho state OF general armed observation, 40
upfsvornb!a tn largo nrodnctfon there surely. II
~. s,,a 49,. .h.,, s,a' - .,ass stens. $500, ~.
noou.tldo Oh fortune. But
IT WAS NOT 70.
Again: when the uuoxampled crops Of tho
rcsr ,h.t ho, ,n,t c,c.od md h.cnrs ,.,,rca
toe prediction went forth tnas 1878 would 10 Tor
us what Its predecessor had failed To accom-
plish; mud once more we have tasted the bitter
ness OF disappointment, II, With tho most
hor,.tt,, ~ h..,..s. .h. .ona,,t,, - "a
uouau aa.'es.., .nS .".ssa'a .. ,,ts s
country NJ large IL barely toaeraole' what would
It have been With a short crop9 Meanwhile,
prices OF ail sorta Of commodities, raw products
s,,n,t,,x o,S s,.,sn,,v ,,.oi,n.a 1hsv ~.
,.eaa''y , aAa pe'sistentJ aseaiueu. lAsJ nte
were tIs bete9e ns 'D'' "s'' 0'0 'D''
" course there sre exceptions, ieTored io.
ealltics, ~hete rcal estate naa exhibited slight
upward tcnueocy' lalA 10 doubtless true q
aonls ssry limited I PORTIONS OF GhfsaRo, - Meil
- at hcH 1orE. Bat II should be said right
hcfc, tbat. II tEtfe u epot 90 eattn #tefe We
might reasonably look fot exceptional Improve.
!neht, spnftso ol proeperttf even 10 tae Rloomleat
t!inrs, IL hese ~ thl4 Rfand coiitfe OF
mo great food'producnR region oL tho
world, where everything conspres TO
stimulate aettsltf aou Rrowth. sttll, ono
swallow docs not make = summer; aud the
et9tement II ecftathtY True tnat tne average OF
valuations of res! estate throughout the Whole
cu9ntrF, morn especially III Eastern cities, II
well 40 a&alculsntal ulstEcts,
u LOWER TO-DAY THAN IT WAS TEAR AGO.
VI commodities. And ths has been called
coming down TO hard'pan: We bare been told
~. y wa necessary IN order 10 feaeh .bsd.rock:"
e " s2 70
bedrock; u. on The contrary, T. Is rot rather =
bottomleSs slouRh. 10 which the hnanc1al later,
esa o. tAe country afs s'bRaas oeyoha, all
soMnulnRe.
When We look soroad 70 Eusope, We nna tho
A9lhe stato OF tnlaRs e1letlb9 snero. tf1nce
alone en]oysa . moderate degree of ptosperlty,
of, 70 state tie Case more accurately u not sui
4cr!nK to the SANS extent ~ the other nations.
~ England, the factories, shops. tulnes, Helds.
low prlcee, want OF encouragement u
capltalt and consequent restitution
amouE tue !abo,inE claaaes u represented -
extreme and HeltsuIGh universal. Ia GeFmhny.
the stustton ss no better, Tbs suffering 10
these countries lar grester than It has been At
auy ttmG with VI. The wave has reaehed Viz.
tant !ndla, aQ2ravattng tho misery OF that
poYestY.tts!eken 1ana' sno W IL sedex moYe-
Ment ahtsaallSinf tue ahtEess III Europe. Iha
mpoysHshment IL .- ...-
0aNRaA1- wontp.WlpE7 AID Is INcRsAs1No.
"a flew ol ina state q Affairs, the question
erhes. 70 what does nj thla tend Whittier
AFe Me uriit1p9i And what VIII 10 the outcome
Of all thiA! Europe Il. Of course. uueaAy aud
threatened with eonsulslons. But 1t may be
suggested that such condition Is chronic tisre,
M ahu that We nesa give ouEaelyys no cooeefn on
that asaount,-tnouRh It would 10 easy u show
that we may b. mora deeply interested than
homa suppose. Hut shc nuro vital question to
VI is, How long will our Own institutions
.etand the strain Of such = prefsuro: ~ We
hare bosns. for the last ttyu yearsf
What would be the effect upon
our condition, political, aoclal, economical,
industrial, of tba possbc continuance Of this
staRnstlon IN husincAs, with pEccs still falling,
duriug another term Of flvo years, Of tan yeAst
Aud, II W. couclu4c that endurance would Sill
tQ up4she. let Us ask OutAslfes II 1t IL tlccE8sR-
~ fnl liz Ia kufYst In tita Wny Enr Hh&l4u bcne-