The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1879-02-21
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"a AtAN y 1swssAsll stmAhs
i@4As4 = Na#%sa#a4s y II isAsHs vi
.nnt Fs4As ataasaes a tstNssi ~ shv
HsHaiasA III sss,ss III pnaa,sAsnr sia
stass4es ~ thas ~ stata II he ,a.ssl,e
atss hss s#ss nsss - ~ u sh ~.
ss~.sss,nsts siss rassss slss sss,lss .lsaa ~
siat#sas#ss IN ase seansh nas in ,lsesss
ssasssa.nss lse rstusnsss M extraordinary
sasut IT. sle.s Ii MT h4aw lnN9n
islssi, is,as ,nstls stHasi.trel ifwni on.
lmst, III aeushef. ani wtih slis elsanns
III iakas n Il constantly growing intarr.
1hr history III the ~nslA might w.
seAfrhrsi III vain III slna snrh u Etahi
sAase - mr. tsnssfsnsns hsx lnxn play.
inp nf n,a ihs lrntsIs Hi ~ ,tvss nslr,i
rilMt III sms Hi. lashsc ,lrla. I, u
tfue MI b,H,ls u rss,resss have tween
tasesl ~ high anil Al,Wsss fntnMiA rates,
iissln ,sinfns .Iesn Il lirs, lrnlirs and
peanuts. n~isnslhls fer shr rnrrr~e IL
sasnvllnp thu slsalA. anil iuurv than ~.
nNaNs,. ~, VA raised l,s that ami either
esl~slients. while The ,lr,a wN1 onl, Il
little mnr than half thai amonii.
Why. then. VA. il mt pai,ly Who can
explain this profound rclitiral mystery
of taxing l,enrlc haif so death /. pay
debt aud then leave IL within hall q
lillinn II binR ~ large ~ |, ever was
after having collected nearly twice
the an,Mat necessary Tor the
lasmen, III the whole ,iellf Aye. More
than ,has ait.r TIN people have
bern cruelty taxcl billions ~ dollars
and more than twice the amount nccrss
sars to pa, the Wh.lc ,lcht. II II not
unls nnrall Int larger than ii .v.r WaS
hcfnre. hv including debts Tim, have
Hru~n ont II II. These arr alarming
facts and tend Ia Disclose ronir ~ tho
cans.s Ill our financial difficulties an,l
distress. And Tint my statement may
no, hr doubted will cite tlir hguics a.
prove ii. Al the close III The war tho
public debt waa le~s thnn billion, and
Tho CURRENCY circulation moro than two
billions lint now the public debt iS
nearl, tNu and hali billions. anil, IN.
cluding debts that have grown ont ~
II, about nine billions. This d"cs not
include all tl,c debts III the country, hut
only those ~hich have grown out VI the
wns, the contraction of the currency and
the Observation-Disclosures Of the Govern.
ment. Now for the figures. The 70.
port III the Comptroller of the Currency
shows TINT In lAt,b the indebtedness ~
thu national banks was &lA7 0DO, INN Hiul
IN. currency -. it,tl. .tNpO O,OOO, Int In lS73
the indebtedness. n the national banks
WAS slli. .OnOO,M asld the currency con.
tin,,c,l down IL $40, ,tNll, 900, thus MMk.
img thu debit III the nation ~ per
cent. more thnn MI tho money u tho
country. And nnW thu indebtedness ~
tho nation Ii more that twice the
amount III money In thc country. How
then Ii Ii Ia bc paidy These Arc alarm.
ing sucts which / wnnt tho voters ii the
country u lonk III AMI think ri when
they go Ia the hallot.hnx. Instead NJ
the national drhi being rapidly paid
on, M Mr.. Trn.s,lell wonll have IN bo.
lirse. il IL .'oO iin.s larger tlan II was
NJ the close af the war, mud thr bonded
debt nearly three times IN lnrge. " II
evident WI nrr on the brink II financial
ruin. without n change In our national
policy aud the expansion III the cur
rcncy. Mr. T'niestlell speaks III "tl,e
evils III ilm imitation II the currency.
lint here he .lis.loseH more Ignorance
oi history. N m case ran he found IN
tho history of ans nation, when Iii. In.
ilatipn nf the currency or money " th,
country Wi,s not 4 source Of blessing ~
the people. Il II tne II snmrAmcr
works against ille private interest VI
bankers md other n,oney.l~n.lr~ III
stopping the imitation III their pockets
hy bringing down thr rate of lntrrcH,
and putting plenty of money into the
hands ii lhs people ~ TINT they don,
have ~ go u them 10 borrow. This II
the slim toial ot the evils of currency
! imitation" The Hon. Mr.. Allis. mem,
her of Congress from Wisconsin, has
shown tina. every dollar paid on th,
public debit has cost ths nation slO
Every 81 ,thl0 paii has been nj Mcri.
Ace of AiO.Othi." What \ wonderful
iInAneial poiicyi What wonld In
thought ot ii farmer who should go IN
debt for horse. uild sell ten horses oi
the sam. quality and tho same value I,
pay for him9 How much would Ii,
make In thc opoiAtion7 II onI
prercnt national. policy rllonld b. CON
tinncd il would brggAr and bankrupt III,
nation letorr ihe dobl IL hall pAlA oil
W. have sold omr bonds In Europe ~
ID cents on thu dollar, and took good
III itDO cents on TIN dollar. Aud ~ az,
now buying thom luck " lOO cents ~
the dollar. with goods NJ bO cr,lts On III
dollar, thu. losing nj hnth .nis II th
contract more wonderful financial wiz
dom. W. will make about IN much h,
such Il system II trading ~ the iArme
In Texas did ly selling his corn crop II
tlle fnll for 10 cents lmrhcl and bnyinl
II hack In .he rpring nj 20 cents
Whether lle got rich IN this way II no
reported. Nrser IN the history oi III
world was more ruinous tlnsncia
policy adopted hy any nation than sha
which we nre now pursuing To sAcri
iice nearly one.iuurth vi the wealth o
the nation 10 pny it~ indebtedness. Ans
then find II larger than over. j. u stat
of thinRs Which should arouse not onl.
every voter, Int every philanthropiSt y
the nation. IL MI eiIuri 10 save thr cu.lnl
try from financial rnin. With m III
,lubtclnes1 IL f.,,Ot)tl. .th4D I'M, and ,nonc
hi the country only about hall TIM
amount, and property deprecated 4
value from onc.fOOrth ~ 0nc.hMlf, an
thr frequent augmentation VI tho publ
debt BY tlir issue ii new lnnl. II sue
q policy continued docs not effect ~,
total ruin, then fAela and figures prov
nothing. and all history Il y lie. ~
upon the voters of tllc nation ~ look i
these incts. krRsEy GRAVES.
Nl.sHMuNp, Ind.
Hnf 1aknn