The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1838-08-24
IRON THE RICHMOND wHIG.
10 Henry CLAY. Eso r,-,

9 D''u""y u resuming my pen. Ga read
''s o'ef' l md my self discouraged from
IN my task for perceive that have cal,
-, oo,n'ns mat may not already have occur
Gu ieu 10 'he candid and enlightened, NOTHING
iha' 'iie iactious and malignant will no, re-
e. Jfci' nothing that the ignorant and ore;u
at diced can be made TO understand. Con
y, scIous OF this, | feel dshear,ened. Ru, r.,
Is, BUSINESS sur, is with you, aud my own pa
VI w. WIZ not now permit myself to dis
10 pafase Inc caudOur 10 which | have an
d. peaied, by yielding to doubt whether
you VIII listen to what else | have to Offer.
s. NOR VIII dIstrust that magnanllnlty and
'' openness OF nature, which so remarkably
l. distinguishes the political friends, whom /
IS would warn from the destruction, TO which
j. 50 many have eagerly devoted themselves.
Il IL is TO g the small and scattered remnan,
: OF the true Church" Of State Rights pr,nei.
pies, thai | would again address mysen, in
the hope Of dispeIllng some of the preiud
ces against the Banking system, the Toll, of
which have lived to see.
ihs was the aim of my last letter, in
winch ! endeavored 10 show, that as be
tween tue different interests Of the comnu.
niiy whatever loss might result from the
auoption OF mat sy stem, must, from the ma.
lure oil the thing, be borne by the moneyed
interest, It's creator aud director. W beth
er That interest, proverbIaly Intelligent,
sagaclous, and vlgllant requires the guar
eianshIP OF the rest OF the community, TO |
save IL IRON sell destruction, is question
"hlch do not propose TO discuss. have
nothing TO offer To those " ho think that
wisdom will die with them !" and that they
owe 1t to the world 10 leave behind them a
complete system OF regulations, reaching
even to the uinBtest AFFAIRS of individuals. Il
The men to whom ! address my self are not 4
oi that school oil pfesumptuous ignorance"
oui, even to them, II may be interesting &c 4
observe, how, 10 promoting the general pros !
periiy of the community, the moneyed IN
ierest receives, (though not an equal share Z
OF beneh'l full equlvalen. for the sacrifice /,
II makes To the common good. r
II is curious Instance of the perverstv 1
oil sell deception, that they who speak ana {
act as u the actual presence OF gold and sill {
yer were the Slmmam bonum OF prosperity,
and regard that as the only currency which g
wise people would permit themselves 10 =
'ouch' base their 81 stem on principles which c
take no account Of the intrinsic value of Il
these precious commodities. h
Bu gold aud silver have an intrinsic n
value. This is measured BY The cost OF ;,
production. All the elements Of value are ',
employed IN producing them, and these en-. b,
ter INTO their production with So much uni sa
lormlty, as to point them out as the best III
common measure Of all values. 80
IL hey are valuable also, as being fit for TO
he use OF man IN various ways. For uten IN
'hs and ornaments, they are preferred be tn
ore any thing else. In this view, indeed. be
hey are not accessories. If they we're on in
y valuable as such, hen, like all other ne oh
essarles, they might lose pari of their tel
aiue, when the demands of nature were II,
upplied. But the appetite, to which they ter
nInlster, IS one not liable to be gIutted BY its
hundance. IL grows by feeding, There col
no passion So craving and nsatate as a h
anity II IS OF the family of the Horse die
.eech, and cries continually, Give Gisen Ro
nd will not be satisfied. Hence, the de. nel
land keens nacA nth tho -4..->-t- l----, RI
ID hence permanency Of value, BY which sup
/ other values may be measured. Old
Blu, Vanity itself must yield TO Necessity, ! D
nd sacrifice O par, of lis qualifications to tul
,e wants of Commerce aud here the laws Val
demand and supply again display their Pot
Grafton. Hence, If from any cause, the !
ecous metals are scarcer in one country iroi
81 .,o,bar their vIaue will be greater den
ere. II will require more OF other things ver'
nrocure them. or IN other words, the pri that
! of all things else will fall. II, therefore, bee
ere were no substitute for them, and II be 1
q amount In circulation IN each country aud
IRE unchangeably the same proportion 10 DEL
~ exchanges, prices would every where val
ire the due ratio 10 each other. That ra pro-
/, consists of such an excess of price IN the the
,untry where an article is consumed, over Ger
ID above the actual cost IN the producing bea
,uDtry, as shall afford fair compensation sun
r the capital and labor employed IN ex ~,
,rtation, and for the risk attending 1t. II 'ntr
= difference is less than this, expectation To
III be- checked Ii more, the capital of d'u'
q consuming country will 90 to tho produ am.
M country, 10 contend for share of this "'ii
.cesslve compensation for the employ men' 'eo'
capital. Thus money will be inPor''a' vow
G profits Of expectation reduced TO their
oper standard. and the due ratio between tins
G compensation 10 the producer aha 'ne u
ice TO the consumer restored .
If snv neonle could devise cheaper, ana po''
ne rt.ct substitute for specie, to he used ~ OF
cir domestic exchanges, they weu'o se"'