Year: 1874

ciai Tor credt crisis with It's accompanimens-


II such the results in tho moro prosperous
and wealthy North what might we expect TO find In the
almost without any currency lwhateveri What do we
find there Ruin, almost without parallel IN the
brief period OF timeevery Legitimate interest well
nigh without exception destroyed men OF fortune ren.
dered bankrupt land valueless taxation IN thousands
Of amounting to confscatton, general state OF
elements-n a word. all signs pointing to a near sp,
prOach In great portion f that country 10 connton
Sicily i"GI Greece. seA Mexico S @ and S South America


But 1t may 10 reply be said that this state OF anars
the enfranchsement of the freedman It cannot be
MED that these changes have had their Influence put
the great demo,azaon OF society throssaOu; ntar ano
est and from the extreme difficulty OF nndlng any neu
oT s from Win ike has for
centuries been established Institution In ltay ann
the wellknOwn corruption of officials high and low,
In Mex co has long held sway over her destiues.


II then the OF the existing condition OF tnngs
in that unhappy and discontened section OF our coun
try be such above indicated what Is the remedy
Clearly and beyond question 10 set the people 10 WORK
with the least possible delay ana 70 Keep them az
that condition In which those of the loyal states were
found at the close OF the war policy which VIII 40
but the moral condition OF the people, and Will cause
the reorganization OF society. and In time make those
people who compose IL happy as c0ntented as loyal
and true. any In this country or Indeed upon ne
face of the earth, and other policy WILL The history
OF mankind from the earliest ages TO the present hou
and more especially modern tines teaches this lesson
with clearness aud force that OF ordi
nary intelligence and reading may upon signt e&am-
nation, fully satisfy himself OF its exact truth


As there be thorough industrial vitality with
out entirely adequate supply OF money TO meet tue
daily hourly Of the active intercourse between
and and thus prevent waste OF labor power
the primary step in the great work OF the
south is for the people OF the whole nation to enter
upon the exercise or the right to determine by them.
selves aud for themselves alone the volume OF that
money For as they do not permit Congress TO nx q


limit to the supply Of potatoes, wheat corn, horses, @
oxen, COWS. sheep which shall be furnished 10 tne
country they cannot in Justice to themselves permit
it TO determine how much money shall be- seeing how
far universal is the necessity for the latter than
for any one indeed for all OF the former combined
Further to allow any such body to PROVIDE 6y law eHaI
tender, shall consist OF gold and silvct olone.
while that body does not charge itself Win Win
the duty Of seeing that the country has an adequate
supply OF these metals is to submit to even sui
deeper injustice than that OF mere liked anu


limit to the volume the money for the reasons that
the supply OF such metals is VIGOROUSLY inadequate 10
the wants OF mankind and that they steadly now to


those communities and countries which are poor ana IN
which they are scarce to which ricn and In
which they abundant, thus demonstrating poWea
an inverse ratio their necessity for them II any
vested interests are sacrificed py tne o te
people upon the exercise OF TINS naturai rg W


mine the quantity aud the character OF their money
then those vested interests must gye way Iney shou


neither in equity longer De permteu 10 pooH
the way for the people have long and sorey suffered,
and suffer by of the Withholding OF tni'
right and must In Justice TO themselves resume IT,


the only system ever devised for furnishing country
with a volume OF money In exact accordance win Tue
needs of that countryneither IN deficiency nor 10 ex
cess-s that by which proposed that the public debt
of the United States shall be converted Into bonds pear


ing 3G5 Der cent interest and legal tender notes inter
changeable with each other at the pleasure OF the
holder 1t has been we'll and truly said that IN the
inerchangabiity, the option OF the holder OF Ma
tlonal paper money with Government bonds bearing


fixed rate OF interest there is subtle principle that
will regulate movements OF finance and commerce
as accurately as motion OF the steam-engne Is regl
lated by its governor Such money tokens woud
be much perfect standard OF payment than goa
and silver ever have been ever can De- Inc use OF
gold or other merchandise money Is Daroarism un-
worthy Of the age" =. .


In conclusion let IL again and earnestly be urged that
we be not guilty OF any Ignorant ana 0lnnuerlng
violence in the treatment OF the South In us present
abnormal and demorazed condition. but tha we rather
look into special features Of the case ana endeaVor
70 the causes work producing its diseases
and then apply equal measure OF good sound sehse
with that applied to the Independently and we may
then depend upon it the effect will be equally happy.
LET us bear In mind that at the North are suHernH
from great and growing corruption and demoraziton
i'm our midst and that 1t s therefore quite WITHIN tne
range of possibility that such Intelligent treatment az
intended to meet the case Of the South alone. may
even al the same time prove TO be the very remedy
needed for ourselves and that 10 may thus become tha
good which besseth him that gives as well AS nun tnat
takes" HENRI 'AhH' "Ni'"'


Phitddephia Oct. 13. 1874.