The Portland daily press., 1896-08-11

the railroad will insure this who teHs
the story that be took Eve dollar COLO
allowed him 81. So for ii. People VINO
know the value of the English pound
will see whers the laugh comes in.
| AS already suggested, 1t is not the
amount, however large, OF silver, gold OF
paper money. which makes business
good and times prosperous, but the cis
oulation of money. Bulk and quantlby
does not produce circulation. Stores anu
storehouses may be orammed with goods
grain houses full Of wheat with eleva-
tors fully equipped to carry 1t by the ton
into the ships hold, but it will not DC
moved till there is demand for IL,
market for it. It's the same with mon
ey. Business must be good, first. be1ore
money or its su bstitute, tho bank check.
can be used. There is more money
now In the country than can be used for
ehe business Interests of the country, anu
| IL mas been increasing ever since loIo,
When trade was good and prices higher
than they are today. From 1870 to 1851
the amount OF money, coined and IN
bills, varied from s1s; rs to ss4. o. per cap
| IVA. ana now, when times are dull, IL Is
va % per capita. the highest yet reached.
Inc bulk. or product, Of money, tnen;
does not help, or create, good times, but
the demand for the product. Circulation
starts from labor: there must be de-
mapd for.the product of labor to create
circulation. One ssction of q country
may be prosperous because goods or ne
cessities are manufactured there which
call money that way and puts it IN cir
ouiatlon Ia the payment for wages ana
raw materials. In another section where
there are no such facilities, no demand
for the products of labor, trade is neoes-
sariiy dull, and little money in ciroula-
ton. There may be played OUT can
factory, or shoeshop in the village or
town. and though these were packed fnlf
OF silver dollars IL void not help the sit
uation or start up the shop or factory
unless there was demand for their pro-
dncts. Labor must earn it's dollar by
work; have the chancs to earn it, give
valuable consideration for 1t, before 1t
can receive it OF put it in circulation.
Tho chief trouble with business today
arises from distrust, over-oaution, lack
OF confidence among business men:
and the dissatisfied labor element the
strikers, have contributed their full
share in bringing about this condition.
They have blindly been led to quarrel
with their bread and butter" to stop,
if possible, the supply which furnished
them with livelihood. Another reason,
an outcome of general business dspres-
sion, production, and close coInpe-
tition, has made the matter generally
worse; viz: the formation of trusts, syn
dicases, centralized capital. The small,
or average manufacturers of all sorts Of
goods, scattered throughout our sowns,
villages and Cities are most important
factors in the general distribu and
circulation OF money. Trust has been
death blow to these, or If not quite driven
to the wall, the average manufacturer
has been compelled to SO narrow his bus
ness and profit that he finds 1t discour-
aging and uphill work to even meet ex-
penseS. Another reason Ia that q good
| thing may easily become bad when oar
rled to its utmost limit and extreme.
No one thing has shaken confidence
so much as tho Unsuitable greed for gain,
reckless expenditures, wild Investments
| and specuiations, the failure of which
has given capital shock which makes it
| extremely cautious about venturing
again, for time. at least, even in the
| old, wsll-trled prosperous ana eonserva-
| tive ways. 1t is a period OF sickness and
debiitatioD which nations, like men,
must pass through. But ths7e Ia no dam
ger, not the slightest, when turning
| point has beeD reached where our oraz-
est political doctors are at last prescrib-
| Ing the "kill or cure" remedy of free sill.
| ver. There eau be nothing verse to
| overtake nation than that. Ii is the
manifest duty of every honest citizen
and honest polisioian to boom the situa
| tion, not to cry it down, Confidence is
| is more cry than wool in political and
platform prophesies of ruin and disaster.
| There is far more of party than patri-
otism in them. 1t would be good thing
| if parties would leave questions alone
which they pretend affect the business
interests of the country either favorably
| or adversely. The discussion of such
questions generally affects suoh vital in
terests only one way: for the worse. The
| natural laws of business and trade are
! beyond legislation, or, at least such leg
| islation as we have had for the past
twenty years. or more If such legisla-
tion is to he applied let it be done where
the laws of trade are infrlnged upon: in
tbs suppression of our gigantic trusts
which Interfere with free general cir
| oulation of money; in the suppression of
| free silver, which Is the demand of one
class that their business shall be doomed
| by legislation under the threat of party
ruin and disaster If their demands are
! not listened to; in the enactmens of
wise laws, and their enforcement, affect
| ing immigration, so that our country
viii not be oyerrun with foreign laborers
when we cannot find work for our own !;
| and above all in tho reform
Of system to which our troubles
are primarily due; a reform in party GUS
| toms and management. It Is q notorious
fact that nothing whatever-the welfare
Of the people, their business prosperity,
the honor, credit and safety Of the na-
| tion--is allowed TO stand in the way of
party success. The party idea of fealty
and good fellowship, an any sacrifice of
truth. honesty and manhood las become
p craze to which "free coinags"is a mild
and harmless measure. Every thing must
be sacrificed for votes. Instead of being
the seryant of the people, party has be.
come tho servant OF monopoly, of any
corporation, class, syndicate. or indiyid-
uaI, who can furnish the most money
for campaign work. There is danger,
here, to the stability of our country, her
laws, her credit and integrity. her stand
! ing as a nation among nations.
j. S. WHITE
| Committee ON lights.