Rensselaer Union, Volume 9, Number 3, Rensselaer, Jasper County, 5 October 1876 — An I[?]rted [?] [ARTICLE]

An I[?]rted [?]

l It has beep tyell said, our forty biWR ! of billions 0? amma? iiandroi imliionv of of^Td' wi i advance ‘lts value «r. wWWrawi our grid W ePdhjmgiag i for pnxurionof to her, ?^& P iriw- r<m>. l fo'Jpne iltendred-ininionslaCttte' boltom, vibndinp ail tlje wqahk.pLihe aJantry, aa ibdailyi. (three billiCtos’ iff £>lf ‘ tn' the world, on which is buiittts vast exchanges of property, <nd.proh»bly not,more than half of anfl prOducteafiS-annuallybought diifl sold on bank chocks promising- to pay gold? Remembet gold, and bank. currency is on!y XQutjmr <tept. t of .tba.warld’sjtyjntyv 8 iioncy market <mofaey. . The -great transactions of distributing the jrtjporty.: ioAL - donunoduias- JareOMb' iomplished—by ninety six par cent, n checks on- btrnks „and bankers. These checks aW ‘Wffiljwffiled on bank liscounts of individual*notes, promising o pay goldibft‘bafodO»n ! 'gold,’bdt’#Miy tossed ahopt,M*d.bolMoedAst bank earn.; rency -together,' to filnety-six per (tent. Of check*, based, qn tho bahkor’q promise to pay gold, which could, jjeycr be xeseerited. ’ What a pyramid of inflated’ eredhl/'.jf » •'.! i> ’ ’< ■ u: . goes weU , Jppg., a» (these .gold promises are vitlur prom, isesybut with the yaning confidence of a feWiMkr'itiay’demuhd g01d,,, Thia;Hrick».,tbq bubbly,.'and. then, there is not found one. gold dollar iu.all the world for every thousand; dollars of bank jtremisetJ'w pky the denfafid'for real gold. .oisilwos.- , ! Then,'too, Jhe. relative bettvccfl golfl afid, commodities is ffidenmg with growing civiliihtiotl. Gold fltotyly wilh all tiiad’S greediness, white thrpuah machinery and intention, commodities are multiplied with incohceivable rWjoidity. ’ Boon there will not be one gold dc|* Br 'f or<e^fy''ffir^ni ffi’diisand dollars required to conduct thee.wortd’s exchanges, and,the relatiy<\flifijarwme will continue ktill further to increase; Is not gokl a most faithless htkl Untrustworthy redeeming agpnt ? From- its sdatoity; how > can it fajljtq, deceit times of trial, When they duly, nced.ita-. help? 'l s it riot a' 1 dclusioh-Ta snare—a liindrance and chefek to-the ncfi'vi'fy dt tlv-' ilizattop? : ■ Gold being a failure, where then shall We look for a safe iponey basis to he.always «qual. n# the growing activities' bf civilization? In its labor, eotoHnoditiesapd- prowrtji,pll<, vte|ded -together into a basis in TrciisflA’Ttotes of convunieift. denowinationsl? wniefi'siWUhe u¥;ufitambd'in Volume at all tantps Oquld' thdlteinebtiftJMefidf industry and largely take thqpihc<J®6pri»'costly to ( ty.— C<tel‘&uliaMpolh i