The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1884-09-27


Thousands and tens of thousands
OF working men were thrown out
of employment. and the country
was full of tramps from one end to
the other, yet all this time we had
high protective tariff
The republican leaders tried to
deceive the people by the over
production dodge. About this
time in 1873 class of men known
by the name of Greenbackers had
discovered the real cause, which
was that the republican party had
destroyed most of the money and
had boarded up great part of the
balance.
Let US quote again from Sher-
mans report in 1873: There were
left three hundred and forty-six
million greenbacks and about two
hundred and seventy-five million of
national bank currency. Silver
was demonetized. The govern
ment had boarded all the gold; the
national banks had boarded nearly
all the greenbacks, and at the be-
ginning Of 1879 We had less than
four hundred million dollars in cir
culation, or about 81. 50 to each
person.
In 1879 the resumption act took
effect and soon after the country
became prosperous. Then the re-
publicans boosted that the resump-
ton act produced the good times.
If this was SO it was very tyran-
ical act for a government to punish
its subjects SO severely for nearly
seven years in order to give them
two>or three years of prosperity.
But this boast was false. 1t is
true that the resumption brought
into circulation about seventy-nine
millions of gold, which did little
good. But several bills were in
troduced in Congress at this time
by Gen. Weaver and his green
back colleagues, and by the Dem
ocrats uniting with them they were
enabled to pass these bills, which
brought prosperity again to our
country.
In letter, which received from
Hon. B. +. Martin, M. c., dated
April sd, 1870, he says: "We
have remonetized silver, thereby
/ placing seventy millions more mon
ey in circulation. We have passed
a bill compelling the U. S. minis
to strike two million dollars in silver
| per month. A bill to prohibit the
further destruction of greenbacks.
A bill to prohibit any further in
crease in the bonded debt, and sew
eral other bills which aided in bring
ing prosperity to our people, .
In 1880 times were prosperous
again. Why2 Because the volume
of money had increased until the
amount in circulation was over eight
hundred millions, or sixteen dollars
to each person at the close of 1881.
! The amount increased until it ex-
ceeded ten hundred millions or.
twenty dollars to the person. Now
let us see what is making the hard
times at present.
1t is true we have ten hundred
million dollars now in the United
States, but by the protective tariff
fallacy in the last four years the
income of the government has ex-
.ceeded its expenses over four hun
dred millions and all this wealth lies
buried in its vaults. Add to this
the greenbacks boarded in the
vaults of the national banks, and
we see that about one half of our
money is locked up and only about
five hundred million is in circulation
equal to less than ten dollars to
each person.
1t is claimed by our best fnan-
ciers that it requires about sixteen
dollars to each person to perform
healthy business throughout our
country. Experience has taught
US that when it falls much below
this, business is paralyzed and
everything becomes deprecated.
But when it reaches this amount or
above, every branch of business is
active. There is good market
for everything produced and labor
is in demand at good prices.
Now should Blaine be elected
President, and the revenue con-
tinue to increase under his high
protective tariff system as in the
past, long before his term is out
the money will all be in the u. S.
Treasury, and the country ruined.
A high protective tariff is the great
est curse that a nation can impose
upon itself
Now fellow Greenbackers, what
course shall we pursue? We are
too weak to do anything ourselves,
and as the democrats stood by us
in 1879, our course, for the pres
ent, it seems to me, is to join them
and vote for Cleveland and Hen
bricks, and thereby save our coun-
try from financial ruin.