Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1840-03-07

me paper. then sc.ear.y worth as much a. iho Ill.
YER. Nf esysn the paper of bsnks 10 maintain. |
~ o. tbs value, oad so redeemed OF al tiuae- n 10
not cosy TO mpseaead Tow II II stod ~. tAs, more
. IN Circulation thsa Is needed far The idea OF
fnfation presuppo>es sorae unsoundaos. All money
metallic as we'll a. paper coss ard will Guc,uaie IN
'a'ue anu " mere oe indsiion. then gold and silver
Is no ciore eIempi from il than MAJOR n ia no NO
means easy 70 determine which f,ctua,,x or.,,..
--wonsy or property. Cotton as forty dollar bale
today tomorrow Is thirty and ncri Cav Sor,v-ve
At does not fclow tina, the alone has uciuacd
at oil; for gold and silver may be SO abundant as 10
tae vine OF property scarce rs To raise H.
u n every day occurrence find gold and silver
faetu1iing IN yarc. comman ling at one time a IRE
muni sHd then none. nay under some circr instances
falling below goo- naper No matter what We hayc
for currency there will &c acuaiiols IN its value
greatly affecting trade. a circulating medium of uni
ioFm amount cannot nc maintained any more than yoa
can limit business 10 an cxa..t amount
This all proves what seems 70 be well understood
or ScnaiOfs would reason difercnyihat there il but
enc way 10 determine how much circulation is necessa
~. u Is impossible % ascertain how much money
may be necessary for each member Of the senate or
the current year. and IL 10 equally impossible to nntic
pate the wants of the sresf public The question in
Left, therefore be settled by the laws of trnd. and
al others matters OF business We learn how ruuch
csrn and Hour are required annually nv the demand
for them. inst learn how much money /, re
tired 20 carry forward business by the ability of men
10y u % muCn ~ neCtfnlrv. De the
or small and IN growing country. il would be inst
as wise ts limit the sf produce as the omoun,
OF monetary capital Surely nothing can be more alb
surd than to attempt to determine the amount wi,ho,
reference to the cxgencies Of the countryo say thai
eien'y milllons, or any other arbitrary amount, in
enough There Is no advantage bo gaincd by low
erns the value Of properly unless the samo amount of
IN or the fame amount of property enables us TO
Obtain more of the necessares Of life Tn, shoud
hcefore be rst clearly established Cor the process is
necessarily attended VIII gna sacr Il ,e. Tn, Soma.
'or IRON rsnnsyivana seems to understand that redu-
eng the circulation will reduce property and wa- In
The same ratio IL IL does. in what I, o,r cond,,;op
neuered'e u we could reconcile debtors 10 Il, who
Would o. ruined He sseus TO believe that our re.
'ai'ons IN foreign trade will be imprsved but shall
snow nun hs error and that he ought to arrive at
cciy the opposite conclusion for his tut,r- rcarried
INTO execution, woul2 iniict upon the isborer as well
~ the owner OF property. the injurious and op
pr'eslve consequences. lie sol 'mnly nffirus and
I've him all credit Tor sincerity that he believes a re-
Gu ton IN wages and property would be beneficial =
Let sec.
Suppose that wages and property viii he reduced
one half by the tilI-that is if wages are now dol.
lar day. they will be hslf dollar; and if beef aud
mutton are now cigh cents round they III be four:
and 80 ct all the Productions OF the United States
and OF all property created here. Upon this state OF
act as ihngs are the aIorer would have the cxpi.
ron OF twenty DAYS labor twenty dollars 10 provide
supplies for himself aud family As thew will bc. he
VIII have ten dollars. Now. sir; be il remembered
that We buy and sell in foreign markets Nv their an.
dard ni currency. and that lowering wages md pro.
pory here to have no effect there. according 10 the
reasoning OF The Senator. their currency must re-
eniafe the price Of their wages and products; but cot
ton Is 10 sell and goods 10 be bought rs If mo chance
had taken place Goods therefore will coma nto m.
country no cheaper IL then. the aborer goes in @
rhr' WIN has money, as his wagesa are he will ha,
twenty dollars To eIpend IN tea coffee sugar and a
thl uSand
Tics bat II he goes into Il they will le-,ea dol
lars under the operation of the ne " a. ecsyi, is blair
therefore with the same amount of labor he can pur.
chase bur hHf ~ much foreign merchandise; in o,h
u VIII N effect BE- doubled in price while il appl.
emily he same
But Tho Senltor did not stop here. foe he ALLEGED
ihaI while the laborer would be in a better condition
me exporter of produce-thst is. cotton &c--would
derive n greater profit, the measure of which wuul
ne The amount Of reduction Of wages and propet a.
nc would thus be able 10 produce SO mach cheaper
10 make myself UNDERWOOD / will proceed with the
same superstition that Wages and nroner,v are o h.
re iuced onehalf Then his theory is that The cotton.
pfanier IN example, would produce his crop nj ball
t1e present cost by the saving in labor and the sappor
OF ~ ana consequently derive double profit. That hc
ouu produce cheaper Is undenia IL true; and IL he
should sell for the same price he now does and brn-
nome specie he would realize double profits provided
ms aooFers are supported wholly on the products OF
ia" Chted States This however is not the course OF
"1ue OK 81 business. Bnt from whence would the
pio GOMEZ Not fsom orcign countries. Tor TO change
- 20 occur There bat from the pockets of every con
sulnr of foreign goods in this country Tor the change
- wholly IN the wages and produce of our eountry--
Inc iiea - that II wages and properly sink together
OHe-hs the relbtve positions Of the laborer ard the
owner OF property are The same. for the labo-er can
purchase as much with one-half the money, and the
same amount Of property will purchase much labor
As oehrc But the liborer will. al the end Of nj y
gwen period. have bur half rs much money and he
same amount OF properly will be worth but half as
much consequently. oil the surplus gains Of the far.
her ~ chanic' manufacturer and the nbo or will be
Oui half what they now are in nominal amour.
IL property IN foreirn countries should descend in
me same ratio the most that could be said of our con
don ~ That d y no worse Cor il is obviously no better
Dnt " we descend while they remai1 stationary and
Pohi u Aence gained 10 the exporter nothing IS plain
er man That such profit is drawn from the consumer Of
"'e,sn merchandise. as u viii tske twice a. much of
oar iaoof or prOdrci 10 buy IL now require IL
me hroy Establishes the fact that the exporter is 10
reap double profits for cotton IL establishes beyond
controversy the fact also. that that profit will he In
upon every man that consumes n foreign article and
hat u VIII De wholly drawn from their pockets The
h''' mas fed himself into y supIosing that
iofcign productions 10 como 10 us cheapcr vyh;lc
our eEPoSis IRE 20 keep up where ibcv r. m, hint,
me importer sells IA market inflated with paper and
r'a1es an ext aordinary profit Bot ne mus, per.
ieivo That the low AMI deres ed state Of me vorkr0
h,ses M Europe - proof enough that no excessive
P'o"' - ootlined hero upon goods that car bear
essential reduciion-and that while raw COTTON main.
ANS ITS price foreign goods also mlintan their,
IN the great competition Of irade thus idea of e,
ces.Ns profit 10 the importer is fil!aciousand as the
notion Of reduction is founded on IT, that Is also al
laci0us ~
To ioliow out tho cose have supposed The IN.
come OF every man except the exporter is 10 be reduc
ed Oue-balf IN the value Of Wages and ,,oo.r,
all crcign merchandise will cost the .sfue yvbb 81,
obviously M effect, double the price, as il viii taso
vice The amount Of labor or twice the arooun, r a.,
produ'ts Of labor. 10 purchase H.
DO not astribo thus power 10 the bl but tits eno,.
'or me fhatits friends do Nhaf response viii Inc -
nefs merh anes' manufacturer and laborers make ~
'0eh hogiuous proposition Can they he reconcil.d
10 sch measure o. opprcssionl One that cxioris from
cn the fruits Of their insusiry to prosseJIy enreh
he planter who now enjoys a prosperity uneaualled
10 The rest Of The country No. SIR such plans Of sec
onal ngsrandzement and such DISREGARD Of he
Interests o. VIC g'oaies and most powerful elias IT pco
30 col.