Weekly Chillicothe crisis. (Chillicothe, Livingston Co., Mo.) 1878-19??, 1879-01-30

good, since its creation has absorb ed near
ly all private credit, and national prosper
ity?
If furnished employment, the idle labor
of the country would produce more wealth
for the nation, every ten days, than Sher-
mans funding scheme will spve in IL
whole year.
SHERMAN's funding scheme is not so
much to save interest as it is to get rid of
a class Of bonds payable in greenbacks,
and substitute for them a class, whose
face calls for coin payment.
The volume OF money in 1865 was over
$1,000, 100000; now it is not over $780,
100000. In 1865 the bankruptcies were.
only 620. In 1868 there were l4,OOO fail
ures, and in 1879 there will be 10000 or
more.
TnE nation is in the throcs of q money
famine. There can be no relief to su ffp f.
ing enterprise and dull times until the
bonds are paid more Or less, in greer blacks
and the volume of currency increas ed at n
corresponding rate.
WE want to put IL solemn question TO
the facetious editor of IT, rjucjpuo,i
Commercial. If the ST ,ecie basis o.
standard, is the thing tn At will bring pros.
perity, why is it tn It Canada and the
Pacific states, whi' n have had nothing
but the specie ST. .r,(ard for thirty years
or more, had arycr ratio of failures last
year than the .tates which had not had a
metal basis .or sixteen years?
RELIEF can be found. How? Substl-
tote tlr : greenback for the national bank
note' and thereby abolish the worst feat
ur of usury, and let labor free. Stop the
drain of $l2O,0OO,00O of interest yearly
paid the banks by the government and
business men, and stop fraud, corruption
and extravaganza in public life, and send
to your legislature honesty and purity, in
place of peculation and bribery.
WHAT is the difference between Il de-
claration Of absolute reputation and the
credit strengthening act, which placed the
final payment of the public debt beyond
the hope or possibility of liquidation? I?
The difference is that without that act
The debt would have been paid in green
backs before this time, and that would
have been the end of it. But under the
act, it will be paid every seventeen years
in gold interest, for all time to come, and
the principal never paid at all.
As the labor Of the country the farmer,
the miner and the sailor, produce all our
wealth. and the mechanic the artist, the
business man and the public teacher as
simulate, utilize and beautify these pro-
ducts of nature, all taxation of every kind
is, at last, borne by them. Is it then too
much to ask of these useful classes to-,
now and then, look into the public ledger
and sean their own accounts? 1t will not
do to leave the finances altogether to bro
kers, bondholdcrs and bankers, all nom
producers. you don't do this duty to
yourselves, you cannot complain at your
public burdens.
TIE question is asked. Does the increas-
ed eagerness with which money seeks in
vestment in interest bearing stocks and
bonds, since January lst, indicate that
capitalists have confidence that resump-
tion will be followed by a revival of busi-
ness. The New York Times, the organ OF
the capitalists of that city, and an adj
ministration paper, IN reference to the re-
cent increased investment of money in the
per cent bonds, says:
at is rather disheartening proof of the
continued unwiIlingness Of moncyed pco-
pie to invest in property or in the indus
tries and enterprises whose restored vltai-
ty is Of infinitely greater importance to
the country than any grain acCruing from
the reduction Of interest.
THE Uuited States is the largest gold
producing country on the globe, but it
produces far less than the annual con-
sumption, and its production is steadily
decreasing, not only IN America but over
the whole world. The following figures
are official and are instructive in these
days of sham resumption: