The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1840-05-14


shsl 4 seshicss me receipts ss he ra6iis
rs~axss 70 :. gold and silver enly. y
sspra fkis 20 MOI sssv inr-seueah's.
hul nss desirsbls. End chat 10 would. N
as sEssss. esrtsa our ezPsndes and en-.
s<samf eoanpreS ssdsns tks ds1sad
Ser, and eseseeaenliy The ~sles o.. ess
dsasEs rrsdsesans reduce The dsnsAd
Ter, snd roassquendy ne price q. tabor.
and reauce. 20 an esOrmoas ans snino@
-e1teal she vslse sfproperty. IT, P',sss
-af pssisce are always regulated oy me
Eossixu .narket and forsiga semsndi ana
she sslss Of prosriy very Gueh ~ NC
suuansi~ Of eireuisIiag necjsm- The
present cetimsisd amosat ofspeeie IN the
-couuuy. 10 abous So. ee0. 900; an amount
ssusllE ssadeqaals 70 al The purposes OF
.our foreign and immsnse dsmesnc trade.
afo~ "a ibis amoual 10 be increased %
4hs den sads Of Hads and businessf Can
Il be Je~- IRON Ihe minssf These costly
.es,sskshmenIs add ba, about fseo and a
AaF ndliSas rear 70 the sperle eifeals.
mon. and most II that 10 eeassmed IN
plsie and ether articles. Their increase
riIl not keep pace wi,h he snnssi in
crease Of our regular trade. VIII IL be
snpplisd from farsiga eoun,riess Hit 10,
we susi FeTefse oar whole system, By
exporting more and importing lessi which.
% an extent necessary, as the advantages
Of trade bet@een nations. like individuals.
nua Be reciprocal. may hazard nearly
our whole foreign trade. ! will test abe
probabilities Of this foreign supply. BY
shat standard which is mos, favorable 20
my opponents. take The imports and
exports nf gold and silver for the years
1882 '33-'34-.35-'36-'37 and 80. Ia
these seven years. the Imports Of gold
and silver we're ss5.6e5. 1863. and the
exports but go. cal EOS. leaving an sx-
esa If iqtp0rfs over exports Of S55. 05f.-
$50. How has This benefited the eoun.
tryi During the came ssren years. The
imports az merchandise exceeded The ex
psrn sii7.3sO.2i2. and thus ibis excess
Of impeftsliDa Of specie over the trporIa-
siss, added 10 the excess OF importation.
has ssddled the country with = foreign
debt Of sta. 434,s69. which 10 10 be
paid. From 1921 10 1891. inclusive,
~hsn The currency and trade OF the coan.
ny vas much more regular and steady.
!. abe exports Of specie sresrded The imports
es.4s7,00l. Yet The condition of al
glasses Of the country was generally more
prosperous. lf this be The result of in
rreasing The specie circulation OF The coun.
nv By f.reign importation. no man in bis
senses would desire 10 see il continued;
Zoe Ultimately II weuld oyerwhelm us.
The only alternative. .ben. Cor the en-
elusive gold and silver system, is 10 reduce
trade. labor. and commerce. 10 The present
speeis standard. aud The slow operation
III the minis. Such sysiem may work
vsli Cor The Shylocks of the day, BY
building up Ams'ican Ro,hsehilds and
Bsrings. but will work ruin 10 The pro.
perfy holding and debtor class.
has been urged by the authors Of tns
sub-issasury scheme. that ia operation 10
90 be confined solely 70 the keeping safely
Of lhs public money, and iha, the Federal
Government, a. il has no power over the
business and commerce Of The country.
should pay M regard 10 iis influence.
good % bad. upon these; bu, when the
scheme 10 presented TO the peoples ac-
sepsmce. We End il uniformly accom-
panied with recon nendslions of lis salu.
Gary influence upon the Trade of the coun-
sry; and thus We have the admission.
Indirectly. that the management Of the
public revenue, is TO be made subservientl
70 the uses Of trade, and the preserratipn
Of good currency, Ii is commended By
shose high in poser. that ,his scheme, !
By reducing the amount Of banking. will |
have tendency 10 bring Us near . me-
ssllic currency; which last, Is 10 said. &c
IN use. woald prevent speculation and 70.
s,fain credit II this hypothesis were
sue. then IL would follow. that failures in
baspsess. and fluctuations in prices, never
occurred in countries, where the currency
sss purely metallic. Is this made good
BY history! So far from IL. thai the most
ruinous fluctuations in prices have occur.
red 10 times and places. where paper ,
currency was unknoEH,s Take. Tor an
example. the following. from /. JACOBS L
taqu,ry iaio the production and consump
sion u the precious metals" In Eng.
land. in the I2,h century, the price oil
wheat 'sried from %. quarter (money
al Ihs, .ime) 70 lss. and 81. In the 18th
century 10 varied from Is. and Cd; in
1918. TO II; Is. in 1857. in 1858. i, rose
70 81; 10 1910 il rose 10 Al. l0s., and
sometimes sold al 81. S.: in 1888 IL fell
:" Is. and Cd; in l3l7 IL sold a, 81 4s.
eeiafs harvest. and Immediately after har.
seu IDS. In those days there were
aenher e,nks aos bankers in England.
except The perseeuied Jews. who we're
merely lenders Of coin, And nov LEI US |
see whether failures in irsds. arising from /,
sslmulaled credit. are prevented by me !.
saiiie currency. There is well known
example ~ The city Of flanburah. y hich. i,
Tor three years about The close Of the las, /
eeatury. owing V abe conques,s Of Ma. r
poleon. enjoyed grea: monopoly in the !,
importation Of British aad American com
mobiles Ter si,e consumption Of The Ger.
man states. and other countries in ,ha, d