Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1811-01-14
For the ALEXANDRIA GAZETTE.
No.. I.
No. I.
The effects Of Money on Society.


An over circulation of money is always
to be guarded against BY a prudent and po-
li,ic prople. How ienoran,ly do people
struggle against the necessary conncx'on OF
causes and Effects. II money 90 not over.
flow, a commerce in which the imports
exceed in value the exports, will soon drain
a nation ofi,s money, and put an end to
industry is the consequence which grows
out Of it. But commercial nations are
generally seen TO struggle hard for iavor'
able balance of trade, and imagine it can
not be too favorable, without suffering
themselves to reflect, that il advantageous
to them, it must be disadvansageous to
hose with whom they deal---they see as a
matter of Indifference the eventual ruin
which must ensue but have no inclination
to foresee, that it will ultimately prove
ruinous to themselves. 1t appears to be
the intention of Providence, that all ma
tons should ben-6, by commerce as by
sunshine and where the balance OF trade
appears to be Aat,ering, wise people
should guard against its effects aud here
several modes present themselves. 1t sp-
pears, from FIRST view, that this should be
provided aseins, BY the government, and
laid up in The treasury; but there lies
good objection against this practice in
trading nation, and especially in rePub-
tic, which though by an Influx might s;i.
mula,e industry for tins, is MOI what
may reasonably be exprcted-all govern
n,ents have their favori,es, and the money
would perhaps be lavished, at least on a
great many who do not deserve il, who,
instead ofhaving claim upon the country,
iced upen its bounty, and ave to be eensl-
dered in no Other light than national drones,
which always multiply with an admlnlsrra-
ton in prosperous ,itn,s, and feed upon its
vi,aIs 10 adversely, forming body com.
olstelY the creatures of power, and at all
times dangerous to civil liberty. In the
hands of prosuse department., it would
vanish with the .wink!:ng of an eye, and do
more mischief by augmenttug the money in
circulation, above what is salutary, than
fore,e.ly it did good by coefning it within
moderate bounds. No republic should aim
at an accumulation of treasure, because it
is at variance with the spirit of such institu-
ton. It is the most powerful OF all enc.
mics, becaus@ the sure source of corruption,
which the ambitious are always willing to
apply, and the needy TO receive. We have
ne Asis,ides to preside over the national
parse, with the care If 2. natron mother
over her eaughter's chastity. We hnd
mankind, indeed but too apt to fall into the
|.ailties of lheir nature - Give them pow.
er, aud they will abuse it; give them mo-
ney, and they will use it." Upon general
principles, an economical people having &C.
quireG ssock of moaey suaicient for au
extensive commerce. should fremble A.
gainss balance sco advantageous, az dan
ges Gus to individuals as well as the coninu-
nity. This position canaos receive stronger
suppor, shsa by a reference TO Spain, pre-
Sious 70 her present distracted state. The
sougk ,aa,etiaIs of silk and iron are pro-
daceG here saove perfect than ia any other
country, and yet aoarishing manufactures
oE these would have been ruiaons to it.
Suppose Spain had been able to furnish
supplies for ier American colonies. what
weuld have been the consequence? The
gold and silSer produced by that trade,
woald have ceatered and circulated ia
Spain-money would have become drug
Labor and manufactures would have risen