Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1893-06-21
Why Creditors Should Deal LeDi,
emily With Their Debtors.

From the Des Noines Ccwa) Leader.
Older men who remember the
stringent times from 1894 TO 1888
would not regard the present az hard
times. II those older days money
was out Of tie question Nearly all
business was rurricd on by barter.
A good COW would sell for -. y
merchant traded his goods for bides
and furs, grain, live stock or provi-
sions, or anythiEG he cou,d trans
port to market, where he turned
them over to his jpbbers, who III
turn disposed of them As best they
could. Labor was paid IN truck and
trade, and to pay debt III money
was out Of the question. To borrow
a hundred dollars or one dollar was
almost impossible.
In these times, which are called
hard, conditions are very different
The man has anything to sell can sell
it for money. Prices IS a general
thing are high. Wheat sells readily
from 80 cents to 10 cents buslsel.
Corn sells at 10 cents and oats at 80
cents. Hay is worth, and brings
readily in cash, from 81 to Sl1 per
ton. All manner Of live stock and
dairy and poultry products sell we'll
and readily. Labor is paid a good
price and the varied industries of
the country Al 4 fairly busy. There
is vastly more money for use in the
United States ttan ever before in the
history Of the country.
The hard times OF cid We're such
as to atagnate all business. La the
present business goes on much "a
usual, but whatever alarm exists in
the country is ocrasIoned by the fact
that creditors seem almost simultan-
eOusly to have ca led upon their deb
tors for liquidation. For some cause
not easily explained a general all
around demarl for payment has
gone up in tie nation. The Govern
ment has fooGshly gone into debt,
giving its notes payable on demand
for one hundred and eighty million
dollars worth of silver bricks, which
are really not worth as much t. the
country as the same number of clay
bricks, for it could Use the clay
bricks, while it cannot use the silver
bricks. These demand notes the
Government is being called on to
pay daily. The gold in the Trsasury
has run down from two hundred
millions to ninety millions, and the
payment is still going on. This
shrlrksge Of gold in the Treasury
has made the creditor class even
more eager in pressing their indivi-
dual debts for payment. The EN-
barrassment of the Treasury has
started every creditor on the track
for his money with the feverish thirst
of bloodhound There is no more
sence in such u general calling IN of
loans than there would be in pump
ing all the wells Of Iowa dry because
the Mississippi river happened to run
low.
The one thing required to prevent
great damage to all business interests
at the present time is the forbear-
ance Of the creditor class. Securities
have in no way been impaired, the
prospects for n vast increase in the
wealth Of the nation are most favor
able, we are Just entering upon a
crop year which promises most
abundant returns, labor is employed,
industries are 1ourishing, commerce
is active, and evidently means where
with to pay debts will be better and
greater as time goes on. The Gov
ernment is not going to be enbar-
rassed. 1t has some ready cash, and
it has practically unlimited credit in
the money centres of the world. Let
creditors be moderate and forbear-
ing and help to maintain the credit
of the nation and the people rather
than to break it down. In that case
the boats that seem now to be al
most fouudering in the choppy sea
of threatened disaster will come
safety into port and bring wealth to
all interests.