Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-11-15
From the Hasling.on Chronicle.


be deceived" was the saying of an arch
political hyPocritc. Although we abhnr
this slander upon humanity not less than
we despise the slander who uttrred!it, -Tcr
when we look around aud behold the MARY
imposi,ions heaped upon The people, and
The patience, submission, aud even cheer
fulness with which they bear the burden
we are sometimes inclined 10 think thai
the short, sighted and misanrhrnpic slnu.
derer believed there was some ruth in hi,
declaration.
Perhaps there never was ,areatcr.(rauJ
>practiscd upon any people tbai,.is ihA c
paper money. Even under the mo28 7;iea
Forable circumstances it is n mighty griev-
ance, but when carried TO the truly alarm
ing extent i, is in this Republic, ,-undoubt-
ehiy paper money is one of the greatest
and most grinding imrosiiions that can he
inflicted upon civilized community. Yc,
h" inhabitants OF thes" States carry the
load more patiently, nc are induced 10
believe, than would any other people ca
he face of the Garth. In fact, we IRE
strongly inclined To the opinion that the
subjects of the Sultan of Turkey, humble
hnd degraded as they really are, would not
submit to Il like imposition, half so quietly
as The Americans.
Under the Operations Of this stupcnTIous
fraud The immense wealth daily created
by productive labor, Is cou,rolcd by this
fictitious representatives of value. The
consequence is.that the producers or wealth.
ar" indirectly made the slaves Of The prjy-
iieacd few who manufacture !',is spurious
money: and thus are the riches crcarct' hy
The toil'ne many, Obtained by those vino
never asserted to crrae them. This is the
present condi'ion of things, undeEthe op-
Grafton oil our fraudulent monetary system.
would any Other people, we repeat, save
me Americans. submit IL like evils! In
our humble opinion they would not. No.
MOI even the degraded subjects of the Tur-
k,sh Sultan. Alas. for the bad influences
| oi iyrannnus habit.
f"ssl"l y some of our readers may inc inc
=" tne opinion, thai We are disposed to CO.
i'r 'hc evils oiihis system Of ofl"snrzcti fraud
To" higlly. We think not. Facts, in our
opinion, Will warrant tn. declarations We
h"'e made IL Is an obvious truth thai
ihe creators OF we'l,h are poor. f.ow
n"PpchS 'hIs! Co'l;i they hc poYr un-
ocr Tic oreI ton "f unequal AMI Just
system OF distributions! Impossibic.-
Under such sys'ern the wealth ssea-
, ,"rs would @ be The wc:AlG,R& &o9ecumula-
!"'!'!!Ss:. '.',V4' aud those mo Iabnre,r the
most, would have the mo,. But l:c on
c'a'ion oi Unequal and benign laws of ma
'"rc nave been nterGercd With and tnw,r
tea by Legislative cnacluicnts. Tac CON
sequence Is, tha, the products of labor are
distributed partially and unjusily and those
"tio create none, obtain the most.
Such is ii,c present condition of civilized
Soc'e'y' the world over. In munarhical
countries, where real money constitutes
.hc Circulating medium, productive Iaho.
Is robbed oi its dues by other mean. save
Spurious currency, but in lh,s K. pul. ic.
nihiny by such means. Aside ftuin TIN.
cHli, labor IS taxed comparatively li.h, in
tticsc States, and were i. noi for iii,
lrdud, the working people woul be tar bel
ter OH than the inhabitants of any other
country, but subject TO the ell: cts nf TIN,
oher"ns system, the many mus, grow
I'o"rrr, and the few become richer.
we suhloin an extract from an esrz Ilen
address of the late Worcester Convention
L" ihr people OF Massachusetts. AKA the
opIhion OF those Republican w;rihics.
h"n'as Jefferson, John Taylor of Caro-
Inc, and Gen. Washin, ton.
Bank paper was, in The first place. moth.
ing more than 4 certificate Of so much gold.
or silver deposited in the vaults nf the
bank. The money was always ready to
answer TO the paper. Such were ali the
old banks in Europe previous to ale 18th
century. After tn" revolution in England
OF 1868, new order of things arose. The
expensive wars folio ing upon that even,
Involved the nation in debt, aud led TO the
establishment OF Il bank, upon The credit of
the Government. The nature ofbnuk M.
per now underwent Il total change. In
stead ofbcins simply the evidence Of %
much specie deposited in the bank, is was
converted into n prnnise of the hank to
then no longer money, OF Ihs> I--se6ia.
tive of money. bur merely h .N.:ton,isc
for the promissory notes of ihe bank.-
Bo'h promise to pay in speric;, perhaps
neither or them has it. The f,untiafion of
The whole banking system, then, - based
upon commercial credit. The solvency
of IL bank depends upon the solvency offs
customers. Instead ofrcpreseuting G,oney.
bank notes represent, so far as rhey repro.
sent any thing, the properly. the goods,
merchandise, and estate Of the hanks.
debtors. But they are also used as cir
cnlaiing medium. And here lies tls. DIFF.
Guilty. So far as they are merely repre-.
senIalions of pr perty. they might be- safa-
ly multiplied 10 any amount no, exceeding
its actual value. Considered as nari nj
the currehcy, the question is wholy.lilIer- |
cn'. The very fact that they REPRESENT
property, leads to their over-iSsue as cur
rency. For while The bank is thus made
secure against ultimate loss.thc temptation
TO ovrr-issue. arising from the pros. on tho
circulation is too strong to be resisted"
Sin copying England says Mr.. JelIcr-