Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-01-02

n this was the necessary effect of IA great
or quantity of the precious metals being
thrown into circulation, how ouch more
injurious has been The operation of The
banking system, ms il has becu prac;ised
in this country. Is i, going loo far TO
say that III the last ~ cniy i've wears the
value ofmoney has diminished one halt!
he proof is found in The fact that the
price OF every thing has doubled, which
cannot in any other manner be saisiac-
torily accounted for. Make catalogue
OF The various items of our necessary ex-
penditurc, including the education of
our children, and it will he found that
their price twenty-five years -agn, Was less
than one-lia;I what theycosi ,s al the pre-
sent time. The reason obviously is, not
only that the circulating medium has been
doubled, treb!ed, quadrupled but that a
sor, OF inquie.u,ic is Eel, about the fate of
all the paper which has been thrown up
on us in sucI, quantities. Men who have
any thing TO sell know not what 10 ask for
it, in this temporary currency, of no IN
h1nsic value and of doubtful character.
Purchasers are therefore made 10 pay for
the fears which all entertain of lis real
character aud as il is the interest of so
many concernedtlat no difference should
be made between notes and specie. even
purchasers With the latter suffer equally
wi!ii Tie holders 81 paper. In truth, how
ever, there are no purchasers with sue
Gle: for although the paper is no' made
legal lender In payment OF debts, aud nei-
Their annultants, proprietors OF leased es-
tales, or those who live on salaries, are
| obliged 10 accept il, yet in fact specie is
by common consent bauishcd from the
| circulation, and il would be a breach Of
the allegiance we all owe the banks to
demand II. Thus the price oil every thing
has come 10 be regulated by the suppos-
ell value OF the paper currency, aud has,
as have observed, more than doubled in
the last twenty-five Years. Ii follows,
clear as the light of day, that whatever
| compensation TO public officers was no
| more Than sufHciest twenty-five wears a.
! 20, ought ROW TO be doubled, In order.
still, 10 be no more than suai Gent. The
| double will now only enable the incunI,
| bent TO supply the same wants and CRAFTY
| The same desires which the oDe-half did
then ami whilst his absolute STYLE of liy-
ing will continue precisely the same, his
'etatire will be much changed FOR the
| worse.
| This, then, is further circumstance
worthy consideration in fixing the amount
| of salaries. itrrsulis, from the progress
of society i'll multiplying thu wants of
men, by lis new Inventions aud discove-
rIes, ard aftording The means other graft
hcation by its increased wealth. VIVA,
Is luxury in one age becomes nccessa
| ry in the next, and The circle Of our en-
Ioymenis is thus continually increasing.
| All who have lveu for the last twenty or
thirty years. must have observed, even in
that period, a visible improvement in the
general style of living. Among the ia.
hobs OF the country there was al all times
vast expenditure but with what were
| called The middins classes, tile case was
| different. Al the present time, they are
better clothed, have more expensive fur
niiure, reside III better houses, sport more
splendid eqnipases, and in short live
more. extensively, and enjoy more of the
| comforts and conveniences of life than at
desire OF man To live like his fellow men.
and if the salary attached TO any Office
will not afford him the means, and he
| can obtain them in amy other manner. be
assured he viii not accept or he will re-
| sign he OtfIce-aud illus We see that " bat
might be adequate and sufficient in one
| aye, may become IN The nsxt, and with
| out change In the value Of money, too,
inadequate and insufficient To both
| these circumstances, The lilu>irious au-
| t!iors OF The FedrralIst srem 10 have made
| an allusion, when, IN speaking OF Inc con
| stIiutiomal provision for Tie Federal Judg
es. which may be increased, but cannot be
| 6iminiShed, daring their continuance in
! office, they say, this, all circums,an-
ces-considercd, is The most eligible pro-
vision that could have been devised. /,
will readily be understood that The Ruc-
tuai'o"S an tie rGtue cf money GRd in The
state Of society, rendered fixed rate of
| compensation III The constitution inadmis-
| sible-What might be eat,uragant to dun,
might, IN haJ n century, 6erome penm,1oiis
and inddequate." Could these profound
] politicians have ioreseen at tiat time.
vixen there were Only three banks in The
| Uniied States, with capitals OF small "a
| mount, the rHinOHs excess 10 which these
institutions have been since carried, they
would, doubt not, have limited the time
III winch Tie compensation of The Judges
might become penurious and inadequate,
10 a much shorter period than hall cen
tury.
II may be argued, or rather il has been
argued, for il 1 had not heard it, If would
never have occurred 10 me, thai the best
criterion for determining The adequacy of
salaries, IS the Willingness of individuals
to accept the Offices TO which they are
aiiached-This would mol be true even if
HE candidates were alway the best qua
I'iled for they might be willing 10 ac-
c'pi, either because in consequence of
lbeir wealth., the salary would be 10 OBJ.
iecl, or more frequently under the ex-
pecfaiion that The competent authority
Would alter time do them justice. In
eiiher case II remains to BE- proved, ihat
the public interests would he advanced by
obtaining The services of Individuals on
snclIie GraimitOus services are scarce /.