Year: 1878

prices, the reaction would leave them
worse of than ever"


A. A correspondent, who is evidently
a Greenback- labor man, writes us:-
'In a recent visit TO Massack usetts-
Fall River. Lynn, Essex county and
Boston, find that the laboring peo-
pie, who are living on star, alton
wages, the small dealers and shop
keepers who see the accumulation OF
years melting away before the dry rot;
the real estate men who owe mortgages
on dead property-all, all are in favor
Of the Ohio idea. or the expansion Of
the currency. Give us another chance
to make money; give US few years Of
prosperity, even II il is followed by an
other collapse. Things can not be much
worse than they are now. We have
tried the experiment OF forced resump-
ton lorg enough That is the way
they talk down there. that is the way
they will vote"


1t il


FRAUD AND FOOLISH SAYING


with drunkards, when they wake up
with headache, that "a hair of the
dog that bit you is the best medi-
cine" But here are people who think
they had better eat the whole dog. The
laboring people, the small shop-keepers
speak ont of ignorance, and repeat
what has been told them. But our cor
respondent mentions one class who un-
doubtedly are very influential, not in
Massachusetts, only, but in all the 9TH
or States, in urging a new imitation.
These arc "the real estate men who
own mortgages on dead property"
These are the men who are everywhere
the leaders Of the new imitation move
ment. Let an honest Greenback- labor
farmer or workingman ask the leader
Of his party, be it General Ewing, or
General Cary, or MIR. Shupe, or whoev-
er he may be, whether he is not in debt
for real estate, and he will get but one
honest answer, "Yes." In the last Con-
gress this was so notorious that il be-
came joke when any representative
was especially jealous for an imitation
Of the currency TO ask him how much
real estate he held; and Senator Jones,
OF Nevada, who was one OF the fore
most leaders of the imitation movement
did not even conceal the fact that ono
of the main objects of those acting with
him TO make a market for real estate.
But surely il is not to the interest Of
the mass of workingmen that real es-
tate shall bear a high price. That
means 10 them exhorbitant rents; it
means that theis families shall be stuff
fed into mean tenements; it means that
they shall pay spectators high prices
for the little village lots they ought to
own. "Cheap lands" has always and
rightly been the cry OF the workingmen
in this country, yet they are allowing
themselves to be deceived into a policy
which has for its chief object TO raise
the price Of real estate.


3. But even the real estate specula-
tors deceive themselves. A new infla-
ton will not help them.


INITIATION WILL NOT ISFLArH.


The balloon burst in 1873; il will hold
no new gas. The panic of 1873 and the
succeeding depression came about not
by contraction, because paper money
was them most abundant, as we have
shown; IL came about because Of over
speculation, over trading and deep
alarm which seized prudent men every
where as they saw whittier we were
drifting. Public confidence received a
great shock; the men who had any
thing buttoned mp their pockets and
the men who had nothing but debts
failed. OF late confidence has begun
slowly TO revive; but a new imitation
would only send us back into the dis
tress Of 1874. 1t is because we have
got near TO the specie basis than meu
are beginning to venture timidly on new
antornrlsps IL is hpcauaa lohor %
sl!els shocked Ia at these GlEesaba"thaboGEi &es
remain hard. There is no hope for the
workingmen or even for the specula-
tors, until resumption is accomplished
and the imitation movement is finally
Defeated New York Herald.