Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1835-06-26
MISCELLANEOUS US.
From tho June Farmer. Rcgisfer.l

IRON the Juno Farmers Hcsister.1
On Priee-the Causes and Effects of he Fluctuations con.
s'dered, and the Principles maintained applied 10 the
present RAGE FOR SPECULATION.
College Of William Il n' and sia Economy &C., Il" the
1.-THE following Communication was intended by its
author TO appear anonymously-and it may be observed
that its form still accords with that intention-thou0h
we have obtained permission TO give the authors name.
This mark of its origin was desirable, moi only for rcn-
sons which are sufficiently obvious, but also because the
facts treated of are in some degree effects of the causes
considered by the same writer in his Essay on Usury."
IN Vol. III. of Farmers Register and the reasoninp Of
,he Two communications have a corresponding connex-
Ion.
The exhibition of the principles which constitute price
IN general, and the investigation of the causes Of un-
founded and ruinous fluctuations. may be serviceable to
the agricultural community at this time, when there is
every Indication of the approach of one ofthose fits of ma
tional delusion or madness, such as occurred i'm the time
OF non specie-paying Banks in this country, and such as
every commercial country is sometimes liable TO suffer
from.
In addition to the close connection of this and MANY
other subjects of political economy with agricultural in
terests, we find ground for especial appreciation of Pro-
lessor Dews manner Of inculcating his doctrines bv
showing their bearing OH current events, and Offering
tests OF their truth, in accessible and striking practical
proofs. Without resort to some such mode of ottroc,;ng
attention to what is generally Though incorrectly deem.
ed a dry and repulsive study, the abstract truths of poli-
teal economy will continue unknown to governments
and to nations, long after having been established and
nndoubted IN the opinions of reading men. Thus Adam
Smith exposure Of the restrictive Tor commercially svs.
TEN of Europe, had delighted and convinced the learned
and literary community, for half n century before il had
ID Gtakt on the action of the British government-and
work had loUg been a textbook in the col
States, while our legislators still cor
in defiance of its truths, on questions of
DPohcy and in accordance with the notions on
of the past ages of darkness and ignorance.
Having thus expressed a general appreciation of the
authors views, IL is proper to mention an exception
which expression of dissent would otherwise be uncalled.
for and unnecessary. 1t relates to the effects anticipat.
ed TO Virginia from the present high price of slaves
That such consequences, whether Immediate or remote
will follow, we have not been convinced by the authors
argument--ED. FARM. REG.
Rat n li,tlo ,,b;Io ,;,c. .. 80 III -.
Der, the country was plunged into the utmost distress
from want OF money, 'owness of prices, and failure of
credit every where; now we seem to be fast rushing into
the opposite extreme-money is becoming very plenti-
full, prices have almost doubled, and commercial credit
seemsevery where re established. A specializing mania
has been generated in our large commercial cities. and
seems rapidly spreading itself through our country. If
then Tins be a season of prosperity, ii is one of hazard
likewise. Now is the time for the exertion of that pru-
dent foresight and calm deliberations, which alone can
carry the man Of wealth safely through those great, and
sometimes rapid fluctuations of prices. always attendant
on the rage for speculation l propose briefly in this
= HSa . RsIasa ~ " - = sssssss causes,