Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1840-01-02

Our eye was caught by a sentence
in tho following article which induced
us TO read it through ; and we serious-
Fly declare that we have seldom ever
met with as much sound truth and sobs +
reason as is contained within the space
it occupies. We true; that our readers
will not pass il by without deliberately
reading and pondcring upon il, and
especially upon the passages Of it which
we have taken the liberty to italicise.---
Each Of them might afford a theme
which might be enlarged upon to advan-
tage, if common sense yet retained its
wonted seat in the public mind Nat.
hieligercer.
u From the Pi'isburg Daily Advertiser, Aug. Ia.
MONEY MATTERS AND FARMERS.
There is likely to he a general fall
in the prices of every species of agri-
cultural produce. This Is rendered in
evitable from two causss--tiie abundance
of the present years products, and the
scarcity Of money. The pressure that
! for two years has been weighing 80
heavily upon the merchants and manu-
facturers Of the country, is now for the
first time reaching the agriculturalists.
! In 1887 and '38, this country presented
the anomaly of high prices Of the pro-
| ducts of the soil at the same time that
there existed distressing scarcity of
money. 1t was IA severe time upon
consumers, hut golden harvest to pro-
duccrs. Now, however, the scale has
turned the other way; and, although
the people Of the cities are still crushed
under the all pervading pressure in the
money market, they are relieved from
the exorbitsnt exactions imposed upon
them by monopolists for the first neces-
sarics of life. The disease brought up-
on he country Jy The reckless erperTn,e,ts
Of the late and present National Admin
isbation, IS offending itsefto The most
numerous and important class Of our cifi-
scns--ihe farmers a class who, until
now, have remained almost unscathed
by the desolating scourge Of ruined
and depraved currency, and breaking
up Of the most perfect system of domes-
tic exchanges the world ever saw -
They are at least destined to feel that
pressure Of which they have only heard,
/ and as they have been the last to sxpc-
rience the evil, it is fair to infer that
they will be the last to find relief. Had
they needed the warnings and entrea-
ties of the merchants and others who
/ stand in the front ranks of the commu-
| nifty, and who, from their position, are
( the first TO perceive tho approaching
danger, as well as the first to expert
enco the effects Of the storm, they could
easily have resisted the mad career Of
the man who, under the promise Of a
better currency" sci ereryhing atloaf,
wahom the knoiciedge, skill, or po,cer TO
direct their courses who, regardless
alike Of the teachings Of experience or
the dictates of common sense, under
took to tamper with what experience
has shown they know nothing about.
/ Far be it from us to exult over the
/, depression that is coming upon the far
mer We know that when he suffers
the country is not in healthy state,
and that, if any deserve prosperity it
is he yet we cannot but indulge the
hope that since it has come upon him,
it will lead him to reflect more closely
Upon the sories Of measures that have
brought such country as this 10 the
verge Of bankruptcy that it will in
duce him to give more heed to the sx-
periencc of the past than to the crude
dognIas Of the present day TO see that
his steady prosperity and that of his
fellow citizens are identified, and that
the storm which wrecks the merchant
will sooner or later strike his citadel
and that ho will see the necessity Of
sustaining the credit system under which
this country has long prospered, and
through the arrangement Of which il is
now suffering. BY tho credit system
we do not mean any particular system
of banking, much less do we mean the
wild and reckless s,.cculations of 1896,
(that only indicated the breaking up of
TINT system) but We mean that happy
state Of confidence which existed prior
to the PRONUNCIATION ofthe mad Dc Grimes
ofthe experimentation all the wheels
of business moved quietly and without
"a ar-when the Government did not
war with banks, nor the banks with tho
Government--whcn each minded its
own business, and the interests of tho
people were not crushed by their rude
collisions-whon we felt all tho benefits
of both banks and government, without
hearing much about either-before Gen.
Jackson undertook 10 gipe as a better
currency" and Transferred money mai
iers from hs counting house 10 The grog
shop or hc politicians siump--when n
man might travel from Maine to Lou
isianu without being shored-and when
the consumers Of merchandise were not
taxed from three to fifteen per cent, in
addition to the ordinary profits of tho
merchant, TO pay for tho difference in
.xchange-when we heard no baldcr-
dash about gold and silver, and yet
every man could have his money con-
verted into that shape without loss. IL
be chosc so 10 do. The truth is, We
were well, very well but because
somo folks wanted to make little ro-