Vermont telegraph. [volume] (Brandon [Vt.]) 1828-1843, 1839-06-12

when their animals would be ready to &c
to market, would meet the expenses of
still feeding on hay and grain at current
prices.
Then again, the last year, owing to
the universal drought. the potato crop, on
which much dependence is always placed
for feeding swine and cattle as well as the
human family, was everywhere short
crop. These causes however, are trans
lent in their nature. Farmers are now
everywhere going largely into the raising
of neat stock and existing deficiencies will
be soon supplied; and as to other crops
we may at least hope for ample returns
the coming season. 49,
But there are other causes of the pies
ent high prices of agricultural produce
more deeply seated and of more perma-
nent character.
The population, by natural growth and
by foreign accessions, increases among US
in rapid ratio. These are 10 be fed
The style of living generally, has. with
in five years, become much more luxuri-
Gus than formerly. and the consumption
of meats of every kind has greatly in
creased Where one dish satisfied us,
two and three are now considered indiS-
pensable. This is certainly the case in
cities.
Next the immense increase of the class
of consumers and decrease of the class of
producers. Look at the innumerable
hordes of individuals employed on public
works, railroads and canals, on buildings
and improvements, in manufactures and.
trades, all of whom are withdrawn from
the labors and yet are to be supported by
the products of agriculture. Observe too
the infinite number of young persons
from the country, who are employed in
our cities in various trades, in shop-keep-
ing, and as house-servants. This class is.
daily increasing; and we cannot but re-
gard with. feelings that we hardly dare to
express, the crowds Of young men, who
might establish themselves as independ-
ent freeholders in the country, who are
willing to barter the pleasures and privi-
leges of rural life, Of open fields and
manly employments, to become the mere
sellers of tape and needles, rufles, essenc-
es, and paste jewelry in our cities, or en- :
gage in the degrading services of clean
ing brasses and washing dishes, with the
noble privilege OF living in basement sto-
ny Kitchens. -
But one great and prolific source as
we honestly believe, of high prices, def
cient labor, the luxury, waste and serviIi-
ity which prevail among US, is in the
multiplication of banks beyond the bust
ness wants of the community, the extern
sion of paper money, and the abuses of
the credit system. Our honest conviction
is that the enormous increase of bank
capital, beyond all reasonable limits, is
destined TO prove to the COUNTRY in its va
rious influences, source of immense
evil. The calamities from which we
have just escaped, are to be directly trac-
ed to this. as their great origin; and as
matters are now going on, we have only
to look forward to another explosion, as
disastrous as that from which we have SO
recently recovered-for come it must
Its arrival In the natural course of things.
is as certain as the descent of water upon
an inclined plane CT the passing of the
sun over the meridian. The creation Of
immense amounts of purely artificial and
fictitious capital, produces dangerous de-
fusion with individuals and on the public
mind. If its effects were merely to in
crease the facilities and stimulate the now
ers of production, it would so far be we'll
but this it does not do excepting in very
partial degree and in an indirect form
This money is loaned to what are called
men of business class of men. who as
far as they are money brokers, the mere
exchangers Of commercial products with
out any increase Of their value, or snecn.
lators in stocks and lands, add litile or
nothing to the wealth of the commpnitv
The increase n-the nominal value of real
estate, is Of no advantage 10 the comm.
nifty, unless it is based upon some positive
or increased productiveness
OF the soil. If a piece of land is sold to-
day at five dollars an acre and next weel,
1t is valued at ten dollars an acre. witbou,
any change whatever in its condition how
is the community in any respect benefit
ed or its wealth increased2 But ON the
other hand. the obtaining of land for ao-
ricultural purposes, for production, and
The actual creation of wealth, is by this
price, rendered the more diff
cult to the man whose labor is his ONLY
capital, the man Of all others in the com,
munity the most to be ENCOURAGED
Then again. the abundance of money il
self lessons its value and operates TO raise
he scale of prices. The facilities of pro. |
curing credit and money induce reckless |
ness; lead to all kinds of speculation
create distaste for labor; ENCOURAGE the
most luxurious expenditures; relax the !
bonds of moral principle; and convert
he community into population af COL