West Virginia argus. [volume] (Kingwood, W. Va.) 1877-1946, 1879-02-15


A motion to take from the table
the School Levy Bill, was lost. The
bill is killed.
Another Letter from our "Boy."
Our Court is over, and the cry of
hard times, among the crowd, was
longer and louder than at any Pc
Rod since the panic of '73. Can you
tell your readers why this is so? Is
1T owing to the scarcity of money?
1t would seem not, for we see that
from three to ten million Of dollars
are dayly going into the four per
cent U. s. bonds, to run for thirty
years, besides we have in this coun-
try more money per capita thaa any
of our neighboring nations.
1t would seem to me that there
was money enough in the country
If it could be disbursed among our
active and enterprlsing men, men
that would buy waste lands and i'm
prove them build work shops, fur
naces, manufacturing establishments
and railroads, thereby giving en-
ploy ment to the whole masses of our
people.
A school boy would naturally con-
clude that hard times must and will
continue until this State of things
can be brought about. Many older
and wiser men than myself, men
whose business and talents have Civ
en- them prominence and seats in the
legislative bodies Of the country
think this can be brought about by
compelling men OF large means to
loan their money to be used for the
above purpose at exao ly six per cent.
and If they take more they shall for
tel twice the amount loaned, so that
IT the borrower establishes ueery to
the satisfaction Of lIry, Whethhr
truthlully or not, he can recover
twice as much as he borrowed, 10 say
the least OF this, it is a pretty high
bid for crookedness. ] would as soon
expect to see traveller lay aside his
cloak under the influences OF the
Northern and chilling blasts of win
ter, as capitolist to loan his money
in the place of such uniriendly and
threatning legislations particularly
when he can loan it to the Govern
ment where it is safe and free from
taxation Of every kind.
Other distinguished fnanceers
promises relief to the laboring tax
payers and the embarrassed portion
OF cur people by the Government
paying over the proceeds Of the sales
OF the four thirty bonds to the hold
rs OF the FIVE twentles but their
hopes and promises have not yet been
realised for those so paid over are
reinvested in four thirtys, and scarce.
ly a dollar ever finds its way into
general circulation, or the business
transactions of the country. THIS
process has been, and will continue
to 60 on 90 long as there is a new
bond in the market, or until capital
can feel more secure and move more
remuneration whe used in individ.
ual or associated enterprise, than
when invested in tour per cent. L.
s. coDsol5.
Moderate blood letting may be
beneficial, but the doctor can bleed
his patient to death, 30 the circula-
ting medium can be withdrawn from
circulation by some strong current
Of speculation and invest ment that
will bring poverty distress and ruin
IN its train.
Still another class Of Statesmen.
with Major General Butler at their
head, propose a remedy for nard
times by making cheap money, by
substituting the picture ofs dollar
for The thing itself But Nasty
tried this at the x Roads, and HE
experience il, that cheap money
makes dear wbiskey. And it NAV
be well doubted if Major General
Butler has much faith in bis recent
teachings for be was never acoucsd
Of stealing Confederate money but
went for spoons.
All I mean to Say is that I know
and feel that times are hard. that
our financial matters are out Of or
der, and that doub If sny ofthe
measures proposed by our financial
doctors will give the relief we 20