The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1880-07-12
stop The depreciation in values and set

TO fall in with ALI sorts Of experimental
nostrums. People who are financially
sick are also very credulous. The only
wonder is that there was not rush en-
masse into the party Of "more money and
less misery" 1t must always be told to
the credit Of the intelligence Of the Amer
lean people that they withstood this
temptation in such large numbers. They
listened to the voice Of reason and to the
lessons OF history, and ascertained that a
panic could not be stopped or cured that
way, just as deep seated disease can not
becured by triaing with it by the use oil
patent nostrums.
We are now nearly seven years away
from the panic, and slowly We have been
emerging from its effects. Through econ
omy and industry We have largely reversed
the general status OF the country as 1t ex-
listed in 1873. To begin with, we are a
creditor instead Of debtor nation. No
money worth speaking Of goes abroad to-
day,to pay interest on vast foreign debt.
The balance Of trade is largely in our
favor. Next, individual debtors have set
tied with individual creditors, and thous-
auds and tens Of thousands Of people are
free men who were in bondage few years
ago. The country is immensely richer in
the aggregate, and all classes OF people
have enjoyed the benefits Of the great
crops that have been raised and sold
abroad.
We are now well started once more in
the race for general prosperity. All the
conditions are favorable. Our exports are
greater than our imports. Farmers have
been getting good prices forall they raised
owing to this great foreign demand, while
at the same time they have been get
ting very much that they needed to buy
at very low prices. No class of men have
been more benefited by the resumption OF
specie payments than farmers. The hg.
Iures show that last year we sent abroad
agricultural products to the extent OF s54S,-
IB9l,l74 They also show that this i'm
mense product las also that oil the two
years before) was produced at a less cost
than for many years previous. Hence no
class OF men in the country ought to be
more unwilling to change the situation, as
it exists to-day, than farmers. Of all citi-
zens they should be the first to say, Lei
treli enough alone.
And yet, strangeito say, the Greenback
party in West Virginia makes its chief ap.
peal to farmers and the strength Of the
party in the State, SO far as it has any
strength, is among the farmers. The far
mers Of Marion county are now preparing
to organize for the campaign. They are
coming into the field just as they did two
years ago, apparently unmindful Of the
fact that since that time the thing that
was pronounced to be absurd and impos-
slble, viz, the resumption OF specie pay
ments, has actually occurred.
Now what do the Greenback farmers OF
Marion county propose to do2 They GER
tainly cannot say that we have not an
abundance-yea, q superabundance-et
money. Never in the history OF the
country was there so large per
capita Of money. The total aggregate
Of paper and specie is 81, Ill ,l5o,65l. And
this amount is increasing every day by the
coinage OF specie. Silver alone is accumu.
lating at the rate Of two millions per
month. There Is between forty and fifty
millions OF 1t lying unused in the vaults OF
the government to-day. Our production
of specie last year, from the mines, was
SO, I'll 800, and in addition to this We i'm
ported an immense amount OF foreign
coin, all Of which has remained with us.
The net balance Of trade in our favor was
500, 66l ,686. The year before 1t was over
257 millions. When the panic OF 1873
broke out the balance wasrunning stead
lily against US. That year alone it was
sll9,656,2SS. Weimported that year $780,
900, 900 worth OF iron and steel, and $3.50,
49,, 24s Of textile goods.
How changed is the situation to-day?
We are not only exporting grain, pork,
petroleum, tobacco and cotton, but manu-
featured goods. We are not only holding.
our own markets against the world. but
seeking markets outside OF the United
States. This result we owe to the wise
financial policy Of the Republican party.
The wild theories Of Greenbackism would
never have permitted this. On the con-
trary, we should to-day be heavy import
ers, as far as we had credit to buy foreign
goods. A vitiated currency alwaysmakes
market to sell in, never to buy in. This
is universal history. Every bushel OF
wheat would have cost every farmer
more money to raise and transport, and
his margin Of profit would consequently
have been less, American wheat, corn,
etc., must be sold in competition with the
breadstufIs OF the world, at the going
price in real money, no odds how much
1t cost in vitiated money to raise 1t. Hence,
as we have said, the American farmer is
the last citizen Of the Republic who should
take up with loose vaguies in the shape
of irredeemable paper money.
We submit to our Marion county
friends that they are permitting them.
selves to be used against their very high
est and truest interests. Greenbackism
has had its day. 1t ought to be, and it
will be, buried out Of sight in the canvass
now upon US. The financial policy Of the
Republican party is one that has approved
itself in the history Of all nations. 1t is
in brief an abundant circulation Of sound
| ,,o,or and Al M ,ar;od ~ tho national