Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1840-08-06
THE SUB-TREAsURY ACT AND IRIS
nEGfrf

-
RESULTS
The effects which will result 20 the lsbofinr
classes Il the country from This SECOND declsr.
alton Of Independence = as some Of the frieuds
ct The measure have been pleased ,o denorni.
nate it.-are thus clearly aud oono!usivcly sei
ionh "a the New York American Of rhe 27,h
uli We ask frr TIE article the calm AMI di,pas-
s'ona'o consideration which the in:ercs, Of tie
subject so well merits
The object OF the Sub Treasury bill.
avoNcdly. is 10 bring The country back 10
what IS colled the constitutional cnrrcn.
oy'-,hat 49, hard money. Now, this is
a producing country which raises more
than 1t consumes, and depends upca 10.
reign markets for the sale q the sarplus.
II the countries with which We deal were
also rd-money countries VIC might
trade upon an equality, but inasmuch as
England, Tor n stance, our chief customer
Tor Gotten ond tobacco. and occasionally
Tor bfcsdsiuiis. wisely avails herself of the
benefits OF mixed currency Of metal and
paper-she will buy our products at the
low prices induced by hard money. and
sell us her man ufactures a, the HIGH nrircs
oil her own currency. But IL may be said
we Will lot buy upon these terms and
rely upon home manufacture for surplics.
This. however is imprsc,icable. Tor il wc
do not buy-. We cannot sell-and rroduc.
ing, as we have said before, more than We
consume, that surplus mus, perish on our
hands. or be exchanged Tor the products
OF other countries. Il first effect Then Of
ne h7rG many sekene IS 10 reduce ne "a.
fue of cur exports for IRE Jeneff If 70.
T,ign''S cifbouf reducing lie cost 81 he
imports necessary 10 cur kore coqsEnp.
lion
Again, Il our imports fall off the revc
nue. too mus, fall oT-anG then the cx-
penscs OF the Government must be pro.
,lded FOR by direct taxation. TIE seC01g
greet Mon. n The lard noasy sckese IS 10
render necessary resort 10 GiTcci tara
ton for the support If Tie Gortramrnf -
Again, as the natural and inevitable con-
sequence Of low prices. wages must fl'l.
and the laborer who gets froo - cents
20 $ day, ~iIl be reduced 20 one half
oil that sum. Bot, It IS replied, he can,
Tor that diminished compensation. buy IS
much as for his higher raw before So
Tar as that refers to heme produce or
that OF which the value is regulated by
I y q
will not be tree OF articles imported from
abroad. Has bread and beef ard pork he
will get at hard money psices-5ut ms
tea and sugar and coGee-a ,ihband noy
and then for his wifc-or a better coat for
himseIi-he must pay for at the prices of
the countries from whence they arc bro';,
end which prices are little lec.ed com
paraiiveiy. by our currency. .fHird con
sequence, Nep. Of he lard money scheme
- The reduction Of lie vcgcs IL lgLor.
viihouf a corresponding reduction in -ric,
Of those articles 10 which Aere!o(6rc he
iaCo'rer IN our harry country las been qe.
cUsfoned.
But, low prices discourage enterprise
The farmer ~ho gets only fifty cents for
his wheat, will cultivate less iand-will
reclaim none tha: is vsste-but content.
InS himself with living near the wind and
bring as little labor as possible. Will wait
Tor better times. Bot meanwhile, The fsru
laborer must live. and as he can ONLY live
BY the work OF his hands. IL there is no
demand for that work, i; is cruel mockery
10 tell bim he can buy Vbcat bread now
Tor what rye bread formerly COS, him =
What IS II 70 him that provisions are
cheap, when he cln earn nothing with
which 10 buy provisions Il fourth co1ss
Guence. hen, II Hs hqrd MONEY sei,c.G -
10 fake atr9y from Tie IgLoyer The chance
and means Of 6mDloyweni; TO 5iurs him
amidst abundance.
But II ;he labofing classes are thus IN.
lJur.ou'ly affected By this second declare.
ton o! Independence, will st operate IS
hnrstly agsinst tic Weather Of employ
ing classes Let us see:
We Will begin our examination with
salafied officers, and Vi,h The hiehes, Of
these, the President Of the United States.
That high funciionafy receives - coo
dollars per snbum. When tbs salary was
paid IN lbe currency heretofore 10 use IN
Our county wheat vsfying from = -
10 s. per bushel--ii was deemed amrIe
onIeEsaiion. even when the circulation
was redundant. Bot now, that salary &,
10 be paid ~ gold % silvcf--and whsatisI
a. prices ysfy :ng tsom .? 60 20 cents per.
bsshtl-hence. taxing whea; a. The gene.
raj measure Of value. the Presidents saln.
~ IS more than doubled and " hstis true
M respect 60 the PRESIDENT .alafy =, true
Of Laose Of the heads Of Departments
and u al others receiving she psy and
emolumen.s Of office Hence. f,sf f.
feet \ fbs hard n0ney scifr1s. titct eur.
tails fie raQss n isjOr. l. 10 dovtkf fls
S1iUtes paid on n NE psopis's poefsf. of
TIE P,endsnf aHd aH ofhsr Office h0iftrs
Where the credit system, and H.. chief
insifument. a mixed circulation. prevails
prcbfty industry skili and rood char8c
ter, can always oh'sin the means ol oera..
patton and advancement Credit ~ gwen
/ IN them. NOS because they have silver and
I gold. bot 5ecaute they have tbs. ubieh
vii pf0ru,c them, TIE v go 60 NofE. and
The knowledge - mske that work tell.
Hence, the Young man. not born o.
Scalih, can, upon The ers8f q be good
character enter Tie World and compete
( for o. hcuofs sud rewards Upon sn equal
footing with ihe more favored child oil
fortune. Bui take away this rredit rvs.
( TEN. 90 much fu.gd 80 as expressing he
. e.