The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1837-06-16
From IN. Boston Atlas Of May 81
THE CONTRAST.

Prom the Boston huAs VI -"s} -
THE CONTRAST.
TRADE oCIETY-CURRENCY-GOV
yERNMENT IN 1929 AND 1887.
In order to appreciate to the full extent
the blessings that the late administration
has introduced, it is necessary TO review the
circumstances under which it came into
power. This We shall do very briefly in
the following paragraphs.
1899.
General jackson found the country in
state of general prosperity. The Govern.
ment was administered with economy strict
" republican. Congress was the dominant
power 10 the land. Commerce, manufactures,
agriculture flourished. The Banking Sys-
TEN was in a condition of remarkable sound.
ness. There was no disposition to multi
ply local banks. There was neither temp
taiion nor opportunity for thess banks to
expand their issues. The failure Of a bank
was an occurrence as unusual as an earth.
quake. Labor was sure Of employment,
and sure Of its reward. There were few
brokers, usurers, and money lenders by pro.
fession. There were no spectators by pro.
fession. There were no immense opera.
tons in fancy stocks and bubble schemes.
Every trader confined himself to his legiti.
mate business, and conducted i: or facilities
procured from the banks at six per cent, or
perhaps fraction less. There was but one
way Of growing rich-hard labor-assidi'
Gus lndustry-early rising, late retiring,
and anxious, sollcltous perseverlng atten-
ton to business. Our habits as people
were simple and democratic. A few sndl.
yduaIs who had accumulated solid property,
bv frugal industry, and retired from active
business, rode about in their own carriages
simple vehicles enough, without show or
parade, and employed for the comfort and
convenience of people who had been walk.
ing all their lives, and thought themselves
entitled to a drive in their old age. There
was little disposition for expense o. extray.
agance. We were by babitudes, if not by
nature, simple industrious, and economical
people and every thing was going on with
the order, the quiet, and the prosperity,
which economy and industry ever induce.
Our Foreign Credit was without stain.
The debts which we contracted abroad we're
such as we could pav-and paid they were
with scrupulous and honorable punctuality.
Our currency was, wlthou, exception, the
most perfect on the face of the globe. No
man ever lost cent by ii. Il was abun.
daut, safe, and well accredited IN every part
Of the world. All the pecuniary operations
OF trade and commerce were conducted with
the most wonderful facility and regularity.
Gold and silver were in free circulation,
and there was al all times an abundant sup.
ply of the smaller COINS. And one could
provide himself with money which he could
use, travel with, transmit to a distance or
receive from a distance, in any amount,
without the loss of cent 10 any Of the par.
ties in interest. Millions on millions Of
Exchanges we're negotiated in every quar-.
ter Of The country, and at an average rate
Of of per cent-a charge merely nomi.
nal ~ comparison with the subsequent rates.
The whole machinery Of society, govern.
meat, trade and currency was in state of
as nearly approaching perfection as human
wisdom and human ingenuity could compass.
Such was the condition Of the country in
1929. Then the destroyer came. For
eight years he has managed the affairs oil
the country in his own way-and his will
has been the law OF the land.
1887.
During the eight ears which have elaps.
cd, what changes have occurred in our al.
fairs Why, the whole machinery Of cur.
rency trade, government and society has
been deranged. The land IS flooded with
three or four hundred million of rredeelna.
bic paper. The smaller coins have dlsap-
peared. Gold and silver are no more a
currency, than amethysts and diamonds.
They have no circulation. The currency
has escaped from the control Of the laws,
and our dimes and quarters are now fur.
nshed by private BANKERS. The mint is
10 the cellars Of the licensed vic:ualers.
They carry on JOINT business Of retailing
JgIeps and issuing money; this money in
the cities, constitutes large portion Of the
circulating medium. Instead OF shlllngs
and sfynences you must take your change