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The New Hampshire State Election

The New Hampshire State Election image
Parent Issue
Day
1
Month
March
Year
1878
Copyright
Public Domain
OCR Text

will tttke place on Tuesday, Murch 12. Majüh Lew is Cass, ouly son of tbo late Gen. Cass, died in Paris on Monday last. He left the oíd Detroit homestead for Europeabout ton years ago. Hon. Townsen Hakius, iirst Minister i'rom tho United States to Japan, and brother of the late Frazer Harri, of this city, died in New York on February '.ij. lii.Aiii Kiisivi ru Uu Ti.Kii (botter kuown as Ben) nmde a speech in the House on Tuesday ou the currenoy quustion. He favors an unlimited issue 6f inodeoinal)le greenbacks. Well put : this question by the Lansing llepublican,-" IIow is a dobtor going to inake nnything by compolliiig li is creditor to tako lus dollars witta only 90 cents worth of silver iu tfaem, when he has himself had to pay a dollar for tliem ? " JüDGE WlIITAKER, of Nuw ürloans, bas denied Returning-Board Andorson a new trial, and has sentenced hira to confinement in the penitentiary at hard labor, for two years, the lowest term uuder the law. Messrs. Wolls, Cuzauave, and Kenner fearing that the sanie justice may overtako thetn have petitioned for a removal of their several cases to the United States Circuit Court. SexaïOR Fekry was re-elected President ■pro tem. of the Senato on Tuesday by a vote of '29 to 28. Senator Hamlin refused to answer to his name, and report says was pledged to vote for Senator Thurraan if bis voto would elect hitu. General disgust at the "conciliaticn policy :" that's what's the matter with Hamlin. Senator Coke, Dein., forgot hiinself and reniained iu committee room, - which saved Ferry's bacon. Dm President Hayes order the troops withdrawn from the South Carolina and Lonisiana Capitols pursuant to a corrupt bargain with Hampton and Nicholls, or their agents, or because in the Constitution, which he had sworn to preserve, protect, and defend, he could find no warrant for using United States volunteers to preserve and protect illegitirnate State governments like tho3e of Chamberlain and Packard ? That is the conundrum the Hayes and anti-Hayes Eepublicans are wrestling with. Judoe Whitakf.r has refused the motion for a new trial m the case of Thomas C. Anderson. That was to have beeu expectetl. Judge Whitaker's rulings have been, without exception, against the defondant. - Post and Tribune. And there are several hundred convicts serving the State at Jackson, each one of whom could no doubt truthfully utter the same complaint against the several judges who tried thein ; but which, nevertheless, raises not the least ground for suspicion that tho " rulings " were not correct, or that tho both law and equity. Convicted crimináis and inulcted debtors have a chronio habit of finding fault with the courts which tried them or their cases. Iï OUE fellow citizen Gov. Felch had been writing up the history of the panic of 1873 and the depression of business since, ho could not have more vividly portrayed ie and its causes than in the following paragraph copied from his paper on "Early Banks and Banking in . Michigan," read at the recent meeting of the of tho State Pioneer Society at Lansing. Describing the condition of thinga at the close of 1836, he says : " At fchis time the financial affairs of the whole country had becomesadly deranged, and tho entiro community was laboring under an unprecedeuted pressure of pecuniary emburrassinents. A wild and reckless spirit of speculation had overrun the land. Capital liad beeu withdrawn from it3 legitimato uses and was sunk in unprofltable investments. The currenoy in general circulation had become greatty initated, and fabutous prices were imparted to proporty, which passed rapidly from ono owner to another, chiefly upou credit, uut il the indebtedness was everywhero more than the debtors were able to pay." And of the general banking bill passed at tho regular sessiou of 1837, with but four dissenting votes in the House (Gov. Felch giving one of them), he says : "The bill received at once the enthusiastic approval and support of all applicants for special bank chartors. The public seeined imbued with the idea that to relieve them from the galhug burden of iudebtedneas, and to restore activity and prosperity to the business world, nothing was needed but extensivo bauk issues. Banks, and an abuudanco of paper currency, with httle thought whethor the captal and other neces&ary concomitauts which ulone could sustaiu tho former or prevent the speedy depreciation of the latter, seemed to be regarded as a cortain relief. With the many who entertained such views it is not surprising that the proposition for free banking and an abundant issue of bank notes was received with delight." And financiers of to-day, who imagine that a note of hand, a mere promiso to pay without any provisión for meeting such promise - to wit, a greenbaok - may be issued in unlimited quantities and made a legal tender are imitating the makers of the wild-cat banking law of 1837, - for a government noto uiiredeemed and irredeemable is no better tban a bank noto redoemable in specie but without any specie to redeem it with and inflation of the ono currency is just as dangerous as inflation of the other. Gold at $2.50 and 3.00 marked the extent and daniage of greenback infiation in 1865, and Gov. Mason, in his message to the extra session of the Legislatuie in June, 1837 (we quote the paper of Gov. Felch), as if prophetically inspired, wrote the history of such inflation iu these words : " The effects are the depreciation of bank paper [groeubacks], an increase of the price of all commodities, an extensión of credit, tho neglect of productivo labor, aud a country involved in debt. The condition of tho United States at the present time is a perfect illustration of these principies." And yet the antirosumptionists and greenbackers, repudiatingthe lessonsof history or iguorant of them, would Ínflate the unconstitutionl greenback issue thousands of millions : that is wipe out the bonded debt by a forced loan of non-interest bearing notes made a legal tender. And how gloriously the kite would go up. ÍK IH'Y respects tho Wood Tariff bill now pending beforo tho Houso Cornmitmittoo of Ways and Means ig no doubt an inipro vemen t upon the presont coraplioated and burdensonie tariff systeiu. But there is certainly chance for still further improveinent. Forinstance, the bill iniposes a duty of 15 cents a pound on plain or body type and of 30 cents a pound on advertising and job type, equal to a duty of from 40 to 100 per cent. ad valorem, - and in fact a prohibitory duty, furnishing no revenue to the Government, but enabling the limited numbor of type founders to take money out of tho pockets of tho publishurs and employing printers of the land and put it into their own. There are not to exceed a score of type foundrios in the country, employing less than ono thousand porsons, and the greater portion of that number children. In 1877 thero were published in the United States 8,119 periodicals and papers - quarterly, monthly, weekly, daily, etc. - and the numbor of employing job printers equaled or exoeeded the number of newspaper offices. Yet these largo classes, - over 100,000 employing and working printers,- and through them the public, are to be taxed for the benefit of the small number of type makers, less than 1,000. This is thu curse of tariff taxation, - robbing the masses for the benefit of the few. All prohibitory taxation, all taxttiou which builds up monopolies should be repudiated, and vo hope that the Ways and Means Committee of the House will revise Mr. Wood's bill in this particular. Il' the great public could only know the material which constituted the recent groenback convention at Toledo, it would place littlo coufidence in the proposed shinplaster cure for tho financial evils of the day. Brick Pomoroy, Sani Cary, Blantou Duucan, Moses "W. Field, Dick Trevallick, aud all the odds and ends and disappointod politicians and blatant demagogues imagionable. " I)ARE TO BE BECEXT " ÍS the motto, and a " white ribbon" the emblom, of a new reformatory society with the following pledge : " I, the undersigned, do hereby agree, with tho help of Almighty God, never to chew, smoke, or in any inauner or form use tobáceo." A half dozen Detroit lawyers are in clover again. This time it is the Brush estáte, and a nieco of the late E. A, Brush, Mrs. Harriot S. Boggs, is the complainant, the bill being filed in the United States Circuit Court. The veto of the Silver bill is considered certain ; and so is its passage over the veto.

Article

Subjects
Old News
Michigan Argus