The midland journal. (Rising Sun, Md.) 1885-1947, 1895-01-25
The Cause of and Cure for Hard Times.

Mr.. EDITOR 1t is hardly necessary for the
writer to call your attention to the present condi
ton of the country under the present admnstra
ton of our national affairs. Contraction of our
circulation and the decision of the people on the
tariff question, as shown in the last election, is
followed by more disaster to the producing classes
more shrinkage in values, more hunger and star
walton, more fall in wages to our laborng classes,
more unemployed, in fact general stagnation in
all lines of productive industries, followed by
more discomfort among the people, more drunk
enness, more sickness, and more general dissat-
isfaction than ever existed since the formation of
our government. And what makes the above
conditions more burdensome and unbearabe is
the persistent course pursued by our present Con-
gress under the Plutocratc control of the present
administrative policy in contractingthe currency,
by the course pursued in regard to silver, and
establishing gold standard, whereby our crops
and the fruits of labor are measured. This con-
dition of money or our high protective tariff must
be the conclusion, at present the people have
discarded the latter. Money is the remedy now
and plenty of it. Mr.. Editor after years of labor
you have put in to educate the people, it must be
with Il sense of extreme satisfaction that even
our bankers have been compelled to admit that
our Populist idea of an elastic and flexible circu-
lation of money and plenty oft, is necessary to
bring back to our shylock bound, hand and foot,
people, material prosperity.
| But what the remedy of the bankers? 1t is all
for the banks and nothing for the people; instead
OF the profits derived by the government on its
circulation, the profits are for the banks. The
bond must be the basis for circulation controlled
by the banks, creating an interest bearing debt
instead of a circulation direct from the govern
ment to the people at profit to the government,
the public in both instances simply promise to
pay or redeem by the government one beneficial
the other not
Really it is only Shylock asking for more time.
Shylock has not gathered all in, the profits of
industry are not wholly on the credit side his
ledger, there are more spoils, old boots and rags
will fill the bill. Shylook will not rest until all is
his if he is not checked in his course No instance
in history is recorded when he ceased to rob the
people and finally enslave them unless the people
resisted. His motive power is gold, the result is
poverty to the people.
WHAT THE REMEDY?
So far nothing beneficial for the people has been
offered; so far all has been for the banks The
people have not been consulted even all consul
tations have been between the administration
Wall street, and the banks. The banks have so
far found place in the bonds for their idle
money. The producing classes have been treated
as strangers in strange land.
Now what is the peoples side of the question?
Why it lies simply (and the remedy in what the
Supreme Court of the United States has so plainly
marked ont for the people to insure them
prosperity,
In II Wallace PIP 1858 and 56i we read That
when business begins to stagnate and general bank
ruptcy is imminent, then the government must
have the power at the same time to renovate its
own resources and revive the dropping energies of
the nation by supplying it with circulating
medium. What the medium shall be, what its
character and quality, will depend upon the
greatness of the exigency and the degree of
promptitude which it demands. The heart of the
nation must not be crushed out, the people must
be aided to pay their debts and meet their obi
cations. The debtor interests of the country
lmark) represent its bone and sinew and must be
encouraged TO pursue their avocations
If relief were not afforded universal bankruptcy
would ensue and industry would be stopped and
the government would be paralyzed in the
paralysis of the people.
Certainly the relief is not in the repeal of the
sherman act, not in our tariff systems, not in a
gold standard, not in contraction, which we have
had in demonstration of silver and funding sys-
tenn, not in an individual national bank cir
cElation.
Then 4 must eolne in the way Of returning to
the money of the contract Treasury notes issued
by the government direct TO the people, in the
way of the subtreasury plan of the farmers or
something better. What think you Mr.. Editor?