The pilot. [volume] (Baltimore [Md.]) 1840-1840, 1840-04-23
REDUCTION OF WAGEs.-We have


German" weekly journal, devoted TO the
Democratic cause Of Harrison and Tyler, and
conducted by +. J. Grund, Esq. gentleman
of extensive literary reputation both in this
country and Europe. The following admira-
bic article is taken from the last number ofthat
paper. We commend it to the attention oiOu
workingmsn.
Mr. Buchanal's remarks on TIE Sub Treasury.
Gin Germany says Mr.. Buchanan, "zhere
the currency is purely metallic and the cost ofev-
ery thing REDUCED to hard money stan
dard, piece of broadcoth can be manufacture
ed for fifteen dollars: the manufacture Of which,
in our country from the expansion of paper
currency, would cost one hundred dollars
What is the consequence? The foreign French
and German manufacturer imports this cloth
into our country, and sells it for hundred dol
lars Does not every person perceive that the
redundancy of our currency 10 equal to pre-
MUM Of one hundred per cent. IN favor OF the
foreign manufacturers"
Ind GgatS: -
sThe comparative LOW PRICES of France
and Germany have afforded such stimulus 10
their manufacturers, that they are now rapid
" extending themselves, and would obtain
possession in no small degree, even Of the Eng
iish home market. If IT WERE NOT FOR
THEIR PROTECTIVE DUTIES. While
British manufacturers are now Ianguishing,
those Of the Continent are springing into
healthy and vigorous existence"
We would request the Hon. M. Buchanan
to inquire little more deeply into German his
tory and political economy, before he commits
himself on the floor OF Congress; with such
wholesale absurdities as the above. If the Ger
mans manufacture broadcloths and other Grti-
ces cheaper than the Americans, il is not ow-
ing TO the HARD sSoaEY CURRENCY; but to tie
excessive competition of labor, which not only
reduces The prices Of goods but also that Of To-
ing belnw the standard of the United States.
A man may live in some parts OF Germany on
$500 year and keep carriage; but does this
cheapness enrich the mechanic or the husband
men? Su .Jpose German earns 10 1-2 cents
day, and is able TO live on 10 cents; and an A
merican, owing to the high price OF every thing,
earns dollar, but requires so cents TO live up
on?- Will the American, in course Of time, not
be able to buy out the German? And as for the
hard 1noney currency, which the Hon. Senator
laws such a stress upon, does he not know that
the two largest German States, Prussia and
Austria, haze a paper currency; the Prussian
Treesor Scheme being in circulation all over
Germany, and the Notes Of the austrian Ma
fional Bank equivalent TO cash from the Rhine
to the Danube
The fact is that the great stimulus given to
the. industry of the Germans, by the Tariff
Onion, the wsest and best measure that ever
emanaed from the Cabinet of Berlin, has, in
every part of Germany, so far increased the
demand for a convenient medium of exchange
as to call a number of Provincial Banks into
existence, which now flourish in the principal
towns of Germany. Did not the English, with
their flush paper currency, undersell the Ger
mans in their own marts at Leipsic and Franc
fort on the Main, in spite Of the hard currency
of the latter, until the wisdom of the king Of
Prussia protected the German manufactures
through the medium Of the TARIFF LEAGUE,
from the dangerous and fearful competition Of
Great Britain' And what is the moral Mr.
Buchanan and his confreres wish to draw from
these facts which ought TO speak in voice of
thunder TO the American mechanic and labor
err Why, just the reverse of that which every
reasonable man would draw from il, viz: let's
have an exclusive SPECIE CURRENCY, AND
AWAY WITH THE TARIFF!