The midland journal. (Rising Sun, Md.) 1885-1947, 1896-12-25

ment, and competing with the en-
ployed for work, thus causing a re-
duction in wages, and caused great
poverty, misery and crime to pre-
vail all over our land.
Here are few instancea showing
the heavy decline in value of real
estate that prevailed almost every
where throughout our country.
The Baltimore American published
the following: Remarkable De-
cline in Value.-The three story
brick building on the west side of
Calhoun, near Freshman street, sold
by Messrs. f. w. Bennett & Co.,
on Thursday, for $500, has his
tory that strikingly illustrates the
decline in real estate. Several years
ago it sold for $500; then it was
sold by Kirkland under mortgage
foreclosure for 80, 100. About twelve
months later it was sold again by
Bennett for 5000; and now it is sold
for 800. 1t is assessed at 80, 300"
The writer of this pamphlet while
residing in Baltimore, witnessed
the following sales The immense
brick block belonging to the Calvert
S. R. Co., which cost 1925, 900,
was sold for $4,000. In October,
1877, the substantial fve-story
brick block covering about ten lots,
which cost Woods, Weeks & Co.,
$750,O00, was sold for $50, 800.
Money was scarce, and as Il con-
sequence property, employment,
and wages were at low ebb. Yet
the bankers told the people then
that there was an abundance of
money. They are still repeating
the old story. 1t never gets stale.
The writer was an elector for the
state of Maryland on the Peter
Cooper ticket, and stumped the
state for financial reform, pleading
for a cecessation of the contraction
policy that was then whitening all
our industries and forcing intense
idleness among the people. He
advocated the restoration OF the
free coinage of silver at 16 to 1;
also large issue of greenbacks by
orr government as the only remedy
to restore confidence and bring back
prosperity. At Hagefstowa in
October of that year, while address
ing the people, he called Senator
Hamilton and Representative Rob
erts, who were present, to account
for having voted to demonetige sil
yer on February II, 1873, also hav
ing voted for the bill which took
the legal value from the trade dollar
in July, 1876, thus taking away it,
debt-payipg power and forcing il
thereafter to be sold as bullion
Both denied any knowledge of the
facts, but I showed them the Con
gressional records proving the pas
sage by Congress of both acts.
told them that in so voting they
had been derelict in their duty t.
the people.
The people could not be awakened
from their lethargy. They did moi
realize that the contracted money
circulation was the main cause O
all their ills, but insisted upon dis
cussing tariff all the while. Polite
ians would discuss that issue anG
no other.
The panic went on and the PEG
pie suffered from its torments.
In March, 1877, Hayes and
Wheeler were respectively inau
gurated President and Vice Pres
ident. Our country was then still
groaning under the disastrous finan
cial panic that broke out in 1878
Bankruptcy had increased alarm
ingly, about 3, 100000 willing work
ers were idle and many of then
were roaming over the country il
search of employment, without
avail. Poverty, misery, and Grim.
had largely increased. In 1873 &
bill for the free coinage of silver
introduced by Representative
Bland, passed the House and Sen
ate, but was vetoed by President
Hayes. Then Senators Allison anG
Bayard and John Sherman, Secre,
retaIy of the Treasury, got together
and concocted bastard coinage
bill, requiring the monthly purchase
of not less than 100000, mol
more than s4,Q00,0 900 of silver bul
lion, which bill was enacted into q
law in March, 1878.
Here was another occasion seldom