The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1879-08-28

summer In Ohio, but for that we could
have seen Mt. Shasta. In the dusk of
evening your correspondent shot q
6ne deer 1t short range, bat owing to
what the natives call buck ague we
went to bed without vension and the
next day we went back to the heat,
dust and work of the valley.
.a'-4so CIV. r.
ATwATER.
Correspondence.
Mr.. Chaplin is at home again. He
came last Wednesday, aud feels rested
and able to continue In the pastoral
work. The pews in the church will
be rented week from next Friday.
Rev. Mr.. Philips, from Great Bend,
one OF the border towns Of Kansas,
preached here yesterday forenoon. He
has been to Boston and to some of the
churches In New England. to raise
money to help build . church worth
three thousand dollars. They will ac-
complain it before long. They COM.
menced building one Of stone and
spent one thousand dollars on it when
tho wind blew the walls down and
they had to abandon that plan, Mr..
Philips went from here about eight
years ago.
The first wad of the campaign was
shot of, at the Town Hall, last Satur-
day evening, by Charles Jenkins, Of
Goshen, Mahoning county, candidate
for State Treasurer on the Greenback
ticket. He was candid enough to say
he did not expect to reap any benefit
from his labor, any more than to let
people know the facts as he had dug
them out. He bore his own expenses
and would probably be ou pocket
at the end Of the race one or two hum
dred dollars. He began the study of
finance in 1857, when he knew of an
agent of an Iron Company who came
across the Atlantic with ten millions of
dollars, and bought up obligations on
q Cincinnati bank, and closed it up,
and prOstrated the business of this
country. Then he saw the evil conse-
quences of havinga gold basis for our
currency. If it had been paper no one
could cause panic BY buying q part
of it. OF. the panic of 1857 McCabe
says: ,"Various causes were assigned
for the panic, the principle of which
were the large speculations in railroad
lands, and q heavy fall in the value of
railway stocks" 1t seems to be the
Indebtedness of speculators after they
have had full run that causes the
break down. This would he the case
rs often FIVE had only percurrency.
Mr.. Jenkins admitted this. He says
John Sherman asks why the panic did
not come in 1868, when we had the
least amount of currency. In reply to
this he quotes from q leather dealer
who says his patrons began to buy on
credit, and he says this was the case
in other kinds of business. Here he
owns unintentionally that it was the
credit system that brought on the
panic. He further on says " no one
can hurt me for am not in debt"
: He spread himself on the balance of
trade, said it was curse to the country
to have the balance of trade in our IA
,vor. He illustrated by showing how .
man might work on his farm and after
elisposing Of all his produce and every
thing he had to spare, he must en-
croach on fund he had laid by in or.
der to pay his taxes. I understand by
the balance In our favor, when more
gold comes to our country than goes
out.
+ He Feoxed that the government
stamp made the value on money be-
cause 4 postage stamp was worth three
cents cash. The government agrees to
carry every letter that has stamp ON
TT. It returns so much labor to every
one who buys stamp and puts 1t on .
letter. His lecture made me think of
DIR. Franklin's rhyme:
Many estates are spent in getting.
since men. for punch. fofsook hewing and split
ting.
And women. for tsa. forsook spinning and
Knitting.
Fl He. classes the bankers and bond
holders among the nuisances. cam
not see the justice Of this, for as long
a. there is Indebtedness there must be
creditors. The government IL una-
voidable in debt, and 1t Is fine thing
that men who have money Are willing
to lend It ON such favorable terms.
The story that some of the bonds were
bought at forty cents on the dollar has
nothing to do with the present bond
holders. If the value Of bonds are al
lowed to be disputed no other debt will
be safe. From the feeling way Mr..
Jenkins described the way the inter-
est had to be raised and sent to the old
country he would be willing to jump
both principal and interest. He says
the producers have the first right to
property. So they have if they can
pay for it. But his insinuations are
that they have whether they pay for
it or not. Such q political party is not
safe, it allows dishonesty aud encour-
ages dissatisfied people to commit un-
lawful acts. I quote from Stephen
Smiths letter to Sam. Carey. "No
political party can bear to have the
least insinuation towards repudiation."
| But the Greenback has such insinua-
tions, therefore it cannot stand on a
solid foundation. w.
August 25, 1879.
"GREEN street," called out the con-