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Show THE CAUSE OF FAILURES. According to Dunn & Co. 'a ruceut intimate, the indebtedness of tbi oountry may bo Bet down as about $7,375,000,000; that ia, counting national na-tional debta, atalo debtd, discounts, loans to banks, and ruortg.tc seeuri-tiea, seeuri-tiea, they will nugrenate tbo sum above mentioned. This is a terrible load, ovon in paper and stiver, but aa it ia to be mot in 1870, practically in gold, the burden becomes intolerablo In reference to this phase of alUira ihe New York Graphic says. Appalling as ia tha report of the lut of failurea for tho last quarter, if ro-ump-tion in the gold dollar is permuted in.it ia efo to say thHt for nvory singlo one of those failures, there will bo. twenty during dur-ing tha year 1878. It will bo a continuous contin-uous panic from January to January. The wliula country will becoino insolvent. insolv-ent. Tho attempt to have a debt contracted con-tracted in cheap paper mouoy paid in gold, whose value Ins boon artilicmlly enhanced, ia ono of the most cru?l efforts on the part of tho very rich to rob tho debtor and producing clussea known to all history. ihe remedy lor this state of things, according to tho Wall Btrect "journals, ia a continuance of the policy of contraction, con-traction, no matter at what expense to the industry of the country. The few men who own the gold demand that all valuer be forced to the standard. The process of failure, liquidation and insolvency aro.to" these capitalists evidences of an approaching approach-ing financial milleuium. Tho New York World warns tho American laborer that boreal tor he must expect to revel in poverty, and ask no bettor prospects for the future than tho poor laborer of Europe. The groat railroad rail-road men combine to reduce aJone iwoop the scanty wage3 of their operativea. Thoy eay to our miuiug men ycu must cut down expenses, reduce wages, bring the workmen down to a lower level. Capital must command its usual dividends; it will not divide the burdens of the hard timei with the producers. This attitude atti-tude has led to the great strike of the railroad employ 0j which r.igos to day in the central states of the east. The greater part of the labor troubles and the bard times have their origin in the short-sighted financial policy o: the government, which ia altogether baaed on tho theory of preserving its own credit at a high figure, taking care of the interests of capital, while the people may get along the be3t way they can. Deludod fools, They are killing the goose that lays the golden egg, and will discover soon that the prosperity of the government ia fictitious which does not spring from the prosperity of the pffople. |