The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1896-10-29
ELOQUENT TRIBUTE
PAID TO TWO PROMINENT CITI
ZENS OF THE 1Sth DISTRICT.

A Prophecy Made by General Sher
wood Signally Verifed-Contrnc'
tiop of Our Money Meant Ruin
what the Vindicator says.
Youngstown never possessed more
active, energetic citizen, than Chauncey
Fl. Andrews. TO him and his business
enterprise is much owing from citizens to
pay, for the position the city occupies In
the world of manufacture and commerce.
He understood the necessity for an
abundant currency. He foresaw the
coming on of money drought following
the demonstration Of silver in 1878, and
in 1874, wrote General Isaac Il. Sher-
wood, then n member of congress, urging
immediate action in increasing the
money circulation among the people.
General Sherwood, although a new
member, had made himself conspicuous
for his earnest advocacy Of an expanded
currency, stating that contraction OF
our money supply Is ruin" 1t was
through the reputa ion MIR. Sherwood
had made for himself throughout the
country as champion of the peoples
and business mems cause on the question
of money supply, that Mr.. Andrews
wrote him, stating in most vigorous
language, the wants and demands of the
public.
The language Of the letter Is so charac-
teristic of MIR. Andrews, going directly at
the points he desired to make, that we
repl oduce it for the benefit of our read
ers. This letter General Sherwood had
read before congress in the course of his
argument, as an expression of business
man, showing the need of a greater cir
oulation of money in the channels of
trade, even at that time. After asking
for free banking law" instead of
grantiHg monopoly to a few national
banks to furnish currency to the entire
country, Mr.. Andrews said:
youngstown, O., March Z. 1874.
"The people are constantly talking
about Iailorad monopolies. There are no
monopolies in this country equal to the
present banking monopoly. What have
the special few done that the government
should bestow extraordinary privileges
upon them and then give them 80 per
cent. of circulation to loan the business
community at high interest? Money is
too scarce and dear for business purposes.
We want cheap money instead Of pauper
labor.
Now, what are we asked to do?
Simply this. With large increase and
growing business to manage proportion
ately with less than one-half of the
money we had few years ago. 1t is
simply ridiculous and is not governed by
any business principles. We should have
money in proportion to growth of business
and population. Money may be plenty
in New York, but it is not in Ohio. OUR
MANUFACTURES AND MINING |
ARE PARALYZED. GIVE US LESS
TAXES AND MORE MONEY and our
own market that We may live within
ourselves for few years, and we will be
able to pay the debt and not feel it.
Yours very respectfully,
&C. H. Andrews"
To General Sherwood, NJ. c.,
Washington, D. g.
The reputation of Mr.. Andrews was
not confined to Youngstown or the Ma
honing Valley as an extensive business
man AS an iron manufacturer, and
railroad builder, his name was oo.exten-
sive with the Union. People in this To-
cality knew him as the most energetic
man in the city or valley. He felt at that
time the necessity for greater circula-
ton, and asked congress, through General
Sherwood, TO grant to the business pub
lie that requirement.
General Sherwood saw the future and
what must follow contraction of the
currency, and in the name Of the people,
and said to congress that CON
tr action of our money meant ruin" He
has lived to see his prophesy verified
Youngstwn Vindicator,