The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1879-12-02
The london :. .TImss" ON the Presen
boom In this Country.

The LOnu8u % Elmes" ON the Present
Boom I'm this Country.
We have already in this mornings for.
eign news the comments OF the London
Timss on the Presidents message. The
Times makes a point on the present fnan-
cial situation in this country that is wor-
thy Of the attention Of all our wild
people who are trying to float an
indefinite quantity OF the Governments
unredeemed promises to pay on the basis
Of an unlimited quantity Of deprecated
silver money. We have imported into
this country about seventy millions of
specie this year, and we have added it TO
our own coinage Of specie and to an in.
crease Of national bank notes, SO that we
have, according 10 the late report Of
Comptroller Knox, over one billion aud
one hundred millions Of metallic and paper
money in this country to-day.
The London Tims sees and states the
case correctly when it says lin effectl this
morning, that this imitation Will cook our
goose for US so far as the expectation OF
manufactured products is concerned Not
only will it stop all such exports, but it
will make market right here at our own
doors for English manufactures Of all kinds
"a market that does not to-day exist. We
have frequently pointed out this great
danger from imitation in the INrELLIaES.
GER. On the 9th Of last month, in an edi.
torial on "the progress Of inaation," we
remarked that "the great danger in this
country is that prices will get wild
again, aud that We shall lose our position
as an exporting country" We remarked
further that ''it is great pity that the
greenbacks could not now, before our
slsck rope is exhausted, be largely II not
entirely retired, aud the country kept
down TO healthy scale OF prices-one
that would at least assure US OF iavora-
BILE trade balance by permitting our sur
plus products Of every kind to go abroad
in competition with those Of other nations.
As things are tending the danger is that
We shall run prices up so high as not only
to lose q great deal OF export trade, but
also great deal Of our own homo demand,
even with the help Of a tariff to prevent
such a result. II the greenbacks were ou;
OF the way, and We were limited to the
national bank currency and the specie
now in our possession We should be in
good shape for q long and healthiul busi-
ness career"
The London Tines, in its comments this
morning, points out that this imitation oi
prices, consequent upon our immense
) volume Of money, Ia confidently relied on
in Englandto induce not only return
dow Of specie to Europe butR great in.
/, crease In the export OF European goods to
Your shores. This result Is inevitable, and
10 only point to 1t at this time to show
the utter folly Of the lunatics who are
bowling Eoran unlimited issue Of depre'
ciated silver, and who will not even per
nit the government to haul in, while Il
may, q lot Of slack line, by redeemiug the
redundant greenbacks in this deprecated
silver, and thus keeping down the initiation
Of prices to q point where we can at leas
keep possession Of our own markets
against foreign competition.
oicourse the statesmen in Congress o
the Ben Wilson school will not permi
any slack line to be hauled in. Their CT,
is TO not only coin s, ,oOO, 600 per month 0
deprecated dollars THAT will not stay il
circulation when paid out, coming righ
back to the government for customs) bu
10 make the coinage unlimited, and thu
get up boom that will nSke this the bes
market In the world for the Europeans !
sell In aud the poorest otall markets :
t,t,t, l., ri 61si5