Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1835-06-29

exceeded the value Of all the lands in England.
On these occasions, 80 intoxicated do the people
become with "A spirit Of ad, cnfure, that they fall
victims 10 the grossest dclu,ion. Only call II
Joint stock company, and thousands Of dollars IN
stanll, How into the scheme. AL anxious 10
enrich themselves by a single stroke of good for
tunc The hard-wofkinp poddine man is looked
upon with contempt Habits ithe most lAari-
Gus and vicious character are speedily introduced.
There Is nothing more true than the old adaee,
" cdsg oomc-cdsg GO man who makes for
tune n stroke, Is almost sure 10 spend II cNtrasft-
gantly. He must llYe high and piyc costly enter
tainmcnts, to purchase tho attention and consider
alton Of the new circle INTO which his wealth has
usi introduced him The great merchants, law
ycrs, PLY sician,, Ae., follow the example which
IS sci by the spcculators-a reckless, profligate,
gambling ,pril i, spread through the country
onc-hall the nation IS trying to grow wealthy hN
the rum Of the other half. Every Kind of decep-
ton alschood, and iriekery resortcd to for the
purpose OF Influencing the markets. " During the
inlatuaiion produced by this infamous scheme"
(Sonth Seal SAYS the historian, luxury, vice,
aud pronieacy increased To shocking degree oil
extravaganza. The adycnturcrs, Intoxicated by
their imaginary wealth, Pamprred themselves
with tire rarc>t danics and the most expensive
wines thai could be imported they purchased the
mo,t sumptuous furniture, cquipage and apparel,
though without taste or Recommendations IN
dueed thcir criminal passions 10 the most scandal
lous cXeess--thcif discourse was the language oil
pride, nsocucc and the most ridiculous ostenia-
tion-thcv affected to scoll at religion and moral
ity, and even to set heaven at defiance" bill
was actually brought into the British Parla-
mcnt for the suppression OF basphemy and pro-
faneness to 80 fearful degree had the spirit oi
speculation and gambling affected the morals Of the
people.
Z, e. l.,
'rion III our own country during 1917, ISIS and
part oil 1910, was almost as great that produced
in ENGLAND by the celebrated South Sea bubble, ~
in rance by the Mississippi scheme
With regard 10 VIRGINIA, do not tink the ma
MIA will be 50 APT To reach her in It's most agra
waited form. The hieI price of neeroc, and cotton
j, now producing fearful emigration to the South
West, where golden harvest, viii be realized, if
present prices can only be kept up, The spirit
for speculation WILL III grcat measure, direct IL
self towards southwestern lands. Hence although
corn, wheat and tobacco may rise, this c\haustlng
drain Of our labor and capital 10 the southwest
will keep land in this state from rising pdIi paSSu.
Our labor and capital both are swept from our soil
as flstas Accumulated. At this moment in Nlr-
ginia, there is a mighty struggle eoing on between
the elastic principle OF the black population on the
one hand, and the diam to the southwest ON the
other. And if the hieh price OF slaves shall be
kept up ior few more years, doubt whether all
the proercatiyc energies of the race compen-
safe iol the emigration, and in that event shall
be Obliged to fill mp with Irishmen and northern
laborcrs, or leave the soil of the state compare
lively sript oflabor. In the mean time, however,
let lis preserve sobricly, our industry, and
morality; enjoying the present advantages Of high
prices, without rushing into schemes and adventures
OF II wild and reckless character, under the vain be-
lief that these times are to last forever Sooner
on later, If prices rise above the natural level they
must come down by process which have al
read, pointed out. ltcouon shall fall speedily, or
| il a superintendent corn crop shall be made this
| year, these CNraNa2ant prices would be checked
/ at once. And we must recocct too, that the Bank
of the nitcd States IS quickly to wind up, and if
its erlailmont shall be very rapid, il may force the
whole banking y stem of the country to contract
its accommodation, and thus perhaps TO give a
shock once more 10 public confidence. At all e
vents, let us remember the moral of the famous pp-
itHph-" was we'll wished to be- bcttcr-and
here am"
Not 10 Protf>sor Dsr's Essay on Price,
The price of lands in Virginia will he kept
down in some measure, by the dsproporlionate
rise III the price OF NEGROES, for tins reason Land
and NEGROES make up the capital OF the farmer;
and the produce winch lac sells, after dcducting the
expense of cuNatlon, constitutes his net revenue,
/ or profits Now supposng the value of negroes
to increase very rapidly, it iSctidcnt that the Il
mount ot the farmer, capital will increase in the
same proportion, provided the value of the land
does not chance. That being the caSc, if his pro-
auctions remain stationary, do not increase pro-
portionalN in price, II is evident there will be IA
fall agricultural profits. Thus, suppose there be
farm with 10 negroes, valued at 100000, while
the land is valued at the same, making aeere-
cate capital Of ~, 900. suppose the produce