Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1840-03-31


lsprc-- the valuc of prCPer'y scarce raise IL
IL is every DAYS occurrence find gold and silver
lnciuatng i'm value. commanding at one time pre-
MUM and then none, nay, under sons circumstances.
falling below good popc-. No matter what we have
Cor currency. there will be fluctuations in Its value
greatly affecting trade circulating medium Of un-
fern canine; be maintained any more than you
ran limit business to an exact amount
This all proves what seems 10 be well understood.
ur Senators would jiffcrcn,ly-ihat there bat
one way to determine how much circulation is neces-
sary. 1t Is impossible to ascertain how much money
may Unnecessary each sember Of the Senate for the
current ycar. and IL Is impossible 10 cntieIote the
wants Of the great public The question is left there
fore. be settled by the laws Of trade and oil others
matters Of business. We learn how much and
-four required annually by the demand fer ihen
Just we learn how much money is required to car
~ forward business by the ability of men to boy IT,
So much is necessary. be the amount great small;
and in growing country. 70 would be just wise to
limit the amount of produce the amount OF moneia-
ry capital Surely nothing can be absurd than to
determine the amount without reference to the exi-
gcnces Of the country-to say that eighty millions or
any other arbitrary smount. is enough. There is no
advantage be gained by lowering the value of prop
eriy unless the same amount Of land; same amount
of property, enables obtain OF the
rics Of life. This fact should therefore, he FIRST clearly
esta bished for the process necessarily attent ed
with great sacrifices. The Senator from Fennsylva-
nia seems to understand that the circulation will
does, in what condition bettcred, even If we
could reconcile debtors il. who would be ruined
He seems to believe that relations in foreign
trade will be improved. but shall show him his
and that he ought 10 arrive exactly the opposite
clusion for his theory. IL carried into execution.
would inlict upon the aborcr well the OF
property, the most injurious and oppressive cunsc~
quences. He soemny affirms, and give hun all
credit for sincerity. that he believes reduction
ges and property would be beneficial. Let see
Suppose that WAGES and pnunerv will he reduce,l
one half by the bill--that is. If wages dol
lar day. they will be half dollar and if beef and
mutton eight cents pound they will bv four;
end Of all the productions OF the United States and
Of all the property created here. Upon this state of
facts, things the aborer would have the expi
ration Of twenty days labor twenty dollars, provide
supplies Tor himself and family. As they will be, he
Will have ten dollars Now, sir; be IL remembered
that buy and sell in foreign markets by their stand
ard o currency. and that lowering wages and properly
here is TO have no effect there, according to the
sonng Of The Senator. their currency regulate
the price Of their wages and products; but
sell and goodsare To be bought il change had
ken place. Goods therefore will come into this cosn-
try cheaper IL then. the aborer goes INTO market
with his money rs his wages are. he will have twen-
~ dollars TO expend in tea, coffee, sugar; and ttou-
sand necessares which come from foreign countries
but II he goes into IL they will be-en dollars.
der the operation Of the ihcoryi plain there
fore. with the same amount Of labor he purchase
but half much foreign merchandise in other il will
IN effect be doubted IN price, while 1t is apparently
tie same.
But the Senator did stop here for he alleged that
while the laborer would be in better conditisn the
exporter Of prodncc-that is, cotton, SSc--woud do
rive great profit, the measure of which would be
the amount OF reduciion Of wages and property he
would thus be able TO produce much cheaper. To
make myself understood, will proceed with the same
superstition that wages and properly to be reduced
one half Then his theory is that the cotton planter
for example, would produce his crop half the pres
ent cost by the saving ia labor and The support of a.
and consequently derive double profit That he
would produce cheaper is undenably true and IL he
should sell for the price he now does and bring
home specie. he would realize double profits prov
his lnborers supported wholly the products
the Uuied States. This however, is the course oil
trade or of business. But from whence would the
profits comet Not from foreign countries for the change
Is wholly in die wages and produce OF country
The idea IS fiat il wages and property sink together
one-har the rel6iye positions of the aborer and the
owner Of property the same, for the laborer chr
purchase much with one-half the money. and the
same amount OF property will purchase much abo'
before. But the laborcr WILL the end of any Civ
en- period have but half mach money. and the same
amount Of property will be worth but half as much
consequently, all the surplus gains OF The farmer me
chanic manufacturer and the laborer will be but halt
whaf aiey now IN nominal amount
IL property IN foreign countries should descend IN
NC same ratio the that could be said sfour con-
dillon Is that il is wOrsc. for il is obviously bet
ter But il we des lend while they stationary
and profit is thence game, to the exporter nothing
is palmer than that such profit is draw from The con
sumer of foreign merchandise, il will take twice
much Of our labor product TO buy is now requr
ed. IL the theory establishes the fact that the eIpor
ter is To reap double profits for cotton il establishes be
yond controversy the fact also, that that profit will b,
tar upon every man that consumes foreign article
and that it will be wholly drawn from their poo kois
The Senator has led himself INTO by supposing
= that foreign productions TO Us cheaper
while our exports 10 keep where HEY III,
thinks the importer sells in a market inflated with pa
per. and realizes extraordinary profit but he mus
perceive that the low and depressed Of the work
ing cases in Europe proof enough that excessive
profit is obtained here upJn gOods-none that bca
essential reducton-and that while cotton main
tnins its price fore n goods must also maintan theirs
In the great competition Of trade this idea of excessive
profit to the importer is fallacious-and the notO1
Of reduction is founded on it, that il is also falla
cious.
| To follow ont the case have supposed The in
come Of every except the exporter is 10 be redu
ced one l0lf iu the value Of wages and property
while a. iOreign merchandise will the same
which Will obviously, in effect double the price, rs
Will take twice the amount Of labor twice the n
mount Of tho products Of labor. TO purchase it, Dc
not Rscribe this power TO the BILL but IL Is enough Tor
me that It's friends do What response will the far
mers mechanics manufacturers, and laborers make to
such nagtious proposition Can they be reoonciled
60 such a measure Of oppressioni One that extorts
from Them the fruits Of their industry TO professedy
rich the planter, who enjoys a prosperity une
equalled m the rest Of the couniryl No. sir, such
plans Of sectional agersndzement and such dsre-
gard ofhe interests of the greatest and most powerful
class of people in country, ony excite dis
gust and Indignation. Tins sir, have traced the
benefits Of TINS hill IL il have any interpreted by
SIS friends 20 the rich md powerful. have. il mis-
take not demonstrate that they to be made richer
bya tar upon their les fortunate, butmore Industrious
and fcllOty that they
can and will submit TO, long their power
can be felt thro' the ballot box.
Bu', SIR, this is not all. While are thus 10 have
iniolerable burdens loaded upon Ne, 70 add to the
weight Of our entertainments, and to increase our
suherings, and while the debtor portion Of the public
are 10 be crushed and ground 10 dust between the up