Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-07-09

What Is hiatt The dividends give the answer
II these da not exceed per Gem. on ~ asafage
the bod,st aud most malispau ca'iller vii 10
/, ! complain.
/ Bat The average does. IN point of flet, amount
TOT OF per cent; and tbs. maintain, Is hut
fair remuneration. under al the circumstances
For, be II remembered. tlat The moueted inter
, est IS :, rNir anl thai tie banking system, IL
creature Is also a unii. Now IT the moneycd inter
esi, dispensing with the use 81 tie banking sssicn
were 10 lend IT'S whole capital IN specie. II would re
ecve per cent. by WY OF Htctesf. IN addiilen 10
rs principal all IN hard money, and undelfeelaied
IN value. nu would per cent be equal cum
prusafon. II ly aud t,al. ~ lie use o the bof=
fower. the principal had been reduced in value bs
enc q TWO per cent Can IT br an 'qnal eanlrn-
+ sation. when made by process which nulHp'ts
raises the price 81 every article a property, and
ihus produces q continued depreciation ol The whole
i capital of tie money ed interest!
What IS the rate oil thai depreciation Who
can estimate it , No But While. like the
course ul the winds, II d.d"s calculation, the fact i
equally palp3be. What memory that goes b l.
iiftv seaiS may not recall men, who, with 4 few
hundreds oi annual Incoe.', lived III honoutdble IN
dependence aud abounfllug hospitality What IS
the effective value OF q Ike income nov Reduced
II lca<t one halt ct, withnthat time, the supply
Of gold and silver Instead Of rapidly ncreasiag IN,
notulIonsl, diminished. The Revolutions If spun
ISL AmefIca. have reduced the annual production
II below the annual consumption III plate aud Jew
eN. Within that tne, too. the discoveries oi SCI
encc, the Inventions OF an and the improvement Of
manufactures. have more titan doubled he facility
u producing almost ryty article OF necessity, com
toit 81 luxury.
rlbe the case Of two men. each Of whom, Gn,
yraIs Heo, WIS worth S1nO, uuo--lhe IN money
tie other IA land We suppose each 70 have tie
eetvcd per ecut Oh his whole capital the IN
interest. the other IN rents, We suppose eaeh to
hasc spent lis ~ loir income, AID 10 more; tie one
teiug careful not In break N on his capital, the 9th
ef USING equal attention Tor the preservation oi his
property Tom waite aud dllapdation. They were
equh thou. They have spent equally. Neither
ms asl ot gained any thing. Arehey equal now !
Both we've nabohs then. and the lnd-hoideriS Il
nabob STILL while tie other has dwndlfd 10 mau Of
ordiu4, property. " hat has made the difference :
/ nc banking system. Tho hears tho liss The
n9uesed interest oi winch the banking system Is
the cftatufe, Shall this interest, thcn, winch, for
the convenience al commerce., and 10 the advantage
81 every ot3el interest, has established tbs sy stem,
receive no compensation lor The wcaf and tear oi the
Ga.ittt with whchil works Tins IS Lax which
The m9ucycd interest loves upon lt.ell 1t the pun
+ chase OF 4 guat toupttrial concurrence. The
alhct1aierrzfs pay none 81 It. Il isior rfIr adiau-
#lasr. It's lAc creditors laas. II Is tie debtors
gam. Nefe there no equivalent for tins, the
#uoucycd interest would mahe lt,,li i uaffyr 10 the
convenience at tie Iubile. fbc slight cktr,s ii in
frlcstosrr g per caat.s the only c1uiylleut Thu
tha fsnut tuo great, IS trrtun. Il IT WrIr, com
9e'f8a would l,lHcc II To the plopel standard.
IhrNuule Waltfr Iess Ives liscIi alo llls--lhcrc
as nothing "1uHe, urlfss TIE uoncyed interest,
Though rJsetcatae, the Banking System, receives
Wcte ihuu#lfs duf. II has Il nght 10 ieal lr#6 per
ceat. an MS whole capital, aud, II II receives more
ilru tas lie excess Is. on 7n average not mnte dian
Il ittcgoNaett taf the depreciation II eapital plo-
deccd by The pieces.
1Eea"ue lh1i no pan Of tbs alydnlass is shared
by iEesa moneyod u'en WHO I've bS lending lhclr
onu @ayUy IN then Uafi piWale way. These bear
s II. a. La and Ia il., oft Inc,