The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1879-10-24

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Hfat IT. n4ntnasgssn IA skas sstsae
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Nh Ii that sias rspHns tssfs saah,
hi ilu saliufs ~. ALL W. ,laH' ttpftti
ali ststtteis4a Nlil w. sa@,4tslsi
eysa, inhl vii hase eensspssssA a.
rntssnts ~ tAe hswsst Ilfai'. nusi
lsttI,i pusnlasllfd IL mest In ,HAH
slsltf ra,ssnsa.si III tntsttps, w
wlll it'll she t,uin huatsisi IN n
treasury ~ Representation Il So
hi circulation, his property shtahk,
ns, ani, ~ ,he rsssns IN Tire nrrrc.
,.iatGun III The currency. hui tilt
mor ~ Artificial srateii. mado hs
the hearieis " Tnli"
IA, II mot possible IL take thu snst
aer without anv~t distress. II every
person. except the capitalist cat ~
debt. ar n salaiie,l officer. N Il n rc.
rinl VI lrss. danger, ln~~itnair ~
trade. fall ~ wages, suspension IN
enterprise, bankruptcy and disaster.
To every railroad II IL nh addition
NJ one .hir,l a. its burden ~ debt.
and more thnn tint. deduction M the
value ~ stock II means the ruin
~ all agricultural production with.
out auy reduction ri taxes. To az.
temp, this task hy surprise upon
our people, ~ afrrs,inH them In
the midst " their lawful business
aud applying n iHw standard cf
value IL their property. without any
reduction III their debts, or giving
them mn opportunity ~ compound
with their creditors. would b. nh TX.
ample II folly without mn example
On esil In the modern times. You
cannot approach specie pa.M.n, ~
contraction except through distress
and u destruction Of property and
and III All The business interests ~
tho couatry, thas cur people VIII not
tolerate and viii mt submit to'"
sherman saw the gulf into which
resumption would prccipi'a'r the
Nation. H. warned Congress against,
the ruinous policy, but they went
RICH, OH with the work Of destruction
and imrovrriShlnrl,, Needless 81 the
warnings ~ history, Our Tory Con.
Hrrss already corrupt beyond rreer'
dent, began u system u legislation
which resulted la the ruin If three
classes III citizens. md Will end In
the total arstruciiun IN ih. two pnr.
ties who conspirsd to eahs,ln,a,c
this diahnlIenl political tragedy.
Thi. National drama consisted "
three acts. Tint III 800. called IN
'act for strengthening the public
credit. making NIL bonds payable In
coin. That ~ l173, mn "act 10 makc
gold the only instrument nfexellunIc.
commonly known Il. the silver bill.
That ef Jan. Ia, is7h. known IN the
"lscsnmp,lon act
Shrrmnn's warning was IN lAf'A.
The act passed u strengthen the
National credit abroad, In isGa: be.
gan To show It's effect In 1879. by liz.
.,rnyins al credit II home, md ~
sweeping nll tho property ofthe debt.
or elias. lnio the possession Of those
who held the bonds md the only H..
gal money IN which they were 10 b.
paid.
by consulting the reports Of com.
mcrrial failures from Jnny. l, lH72
10 July |, 1870. They run NJ nb.3G2
business firms. u the amount ~ 81.
ass. ',si .bD7.
The second clnas, tncludingAll who
have lost their homes In farms,
villages md elites on which they
had raid part or had borrowed
money to make improvements and
were unable to pay In the new In.
-trum~nt u exchanges, must be-
approximately estimated, m they 10
not form II pnrt al the commercial
reports. Dn, II IL safe 10 estimate
thr number ~ ten times greater tlinll
the ilrrt, and the amount lost by
,hcm averaged III 200 eaeh. making
! thu ueinnl number ruined In eonsc.
~, nc. III thu ,hrrr ne,a referred ~
amount IL t53. 900, aud tho sum Los,
tilO.72t.nOD,
The third aud hy far tho most
humorous elnas In thi. mud every
other country. are those who own no
property, h,ts ray rent aud depend
upon th.il labor, md small deposits
-. la. IL