Helena weekly herald. [volume] (Helena, Mont.) 1867-1900, 1880-10-14

I
Hapkeye, has received the following from
Senator Conkhng:
UTICA, n Y Sept 7th, 1880.
SIR,-Looking over the country to-day
one is most struck by the condition of the
laboring, producing and commercial interests
| They are all thriving. Indeed, their rise and
progress of late is well nigh fabulous After
the bubble of unreal buoyancy burst in 1878
"a bubble resulting largely from the vast
issue, because of the war, of currency with
| its depreciation and corresponding fictitious
nominal prices-all industries, enterprises
and interests were, as q rule, ruinous]y de-
pressed. The heaviest share of injury fell,
as it always does in such epochs, on labor.
Men who had laid up money, capitalists as
they are sometimes called, fearing to hazard
their means in such shifting and uncertain
times, waited for the evil days to pass by.
Money was locked up and boarded, or put,
as far as could be, beyond the reach of loss
or chance. StagnatiOn, of course, followed.
The country was full of men ready to put
their skill, and brains, and hands to work.
Those who saw promising business opportu-
mites, if they had capital of their own, hesi-
tated to embark in it ; but a far larger number
whose capital consisted of honesty, energy,
and ability to do, were paralyzed because
others would not risk results made uncertain
by the generel disturbance of values and
securities, and by schemes for still further
unsettling all money standards with which
our politics were rife Industry and labor in
all the walks of life were smitten grievously
Recently all this is changed Capital no
longer shrinks and hides. Every branch of
occupation fourishes. A fair days work
commands a fair days wages readily. Enor-
nous crops have made good harvests, not
only for farmers and laborers, but for millions
of men and money engaged in the carrying
the old world, which used to be paid for in
our high interest bonds, and in manufactured
articles returned to us, are now paid for by
millions in gold. immigration pours in,
spreading over new fields from which wealth
will spring. Fixed, stable money has taken
the place of fiuctuating paper promises. The
taxes inflicted by the rebellion have been, in
great part, dismissed. The interest-bearing
debt has been one-third paid. The interest
charge-the worst and hardest feature of all
debts-has been halved.
When schemes of reputation and ruinous
initiation met their death at the hands of the
Republican party, headed by President
Grant, all lenders of money in both hemis-
pheres noted the fact. Immediately our
credit rose, and to borrow at four per cent.
became easy, where to borrow at seven per
cent. had been hard. Paying off bonds bear
ing high interest with money obtained at
low interest, reducing the needed revenue
has also enabled us to strike off greal deal
of taxation at the same time laying duties
on foreign goods, so as to tax those which
compete with our own productions, thus
giving incidental protection to home manu-
tactures, not only raises revenue in the least
oppressive way, but by the same act fosters
American industry. Those who think that
to be great and useful party must produce
and sensational effect-must have
ostentatious disputes with foreign powers
must lay plans for the conquest of more ter
invent novel and high sounding
theories, may see little in this to fill the
measure Of a party's usefulness. Such must
be the idea Of those who think this q good
time to overthrow the Republican party and
put the country in the hands of those who
again seek its control
During the war, with large part of the
Democracy otherwise engaged, busy where
they lived in breaking up the government by
war and revolution, their political associates
in the north arrayed themselves on the wrong
side of every measure which has tended to
bring about the prosperity we now enjoy.
Against the northern wing the Republican
party was able to hold the fort Now the |
southern wing has returned from the battle |
to the ballot-box and both wings confront u.s. |
This increases the danger most, because of |
numbers and the way numbers count, and |
equally because of the kind of domination to |
which it subjects the Democracy. As surely |
Is the light end of the balance kicks the beam |
the small light north end of the Democratic |
party must obey the motion of the great |
heavy south end. In congress- cabinet, eau
:us and convention this is the rule as infex-
BILE as the law Of gravitation.
The immense interests which make up the
amazing total of our strength, and wealth,
md primacy, reside chiefly in the States
which are not "solid, !" but which tolerate free
hought, free speech, free elections and equal
lights. For these States, comprising as they
10 such an overwhelming proportion of tax
,aying, laboring, producing and property
lolding interests, the pending political
question is very plain. It is whether they
re safer with currency, taxes, tariff, appro-
,riatiOns and other vital affairs in the hands
# those who represent them and their ideas,
md are identical with their interests and
history, or in the nands of o party the gov
rning majority of which is so radically diff
erent in tradition, history, methods, motives
md aims.
lin a joint stock association, all stockholders
nd all classes of stockholders should have
heir full share and full rights but whenever
hose who own the bulk, put the whole into
he hands of those who own but little, there
9 much nnwisdom in it. This is especially