Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1840-04-02
From the Connecticut Courant.
THE SUB TREASURY SYSTEM.
Dialogue bei,ceen Laborer and an Er !Sena
tor, Miles.


Dialogue bei,cesn Laborer and an Er Ssna.
tor, (.Niles.)
Laborer. Good morning, Mr.. Senator.
Senator. Good morning, Mr.. Wilson how
children e, how DO they stand this hard win
ter--and how does the good cause Of the par
ty get on in your town?
Laborer. Pretty well, sir, though times
ars rather hard, money scarce, and labor is
not as well paid for as it used to be 4; still,w
havn't turned Wings yet, and don't mean to.
Senator. That's right-stick to the party
to the last, and we will, in the end, have a
hard money currency. The sub Treasury
will make vs. all rich. II will give to every
man a. much money as he wants, and that,
too, Of the right kind--the real sinners.
Laborer. But have read in the speeches
Of Mr.. Buchanan and Mr.. Walker, that the
sub Treasury will diminish the price Of la
Dor. Having always looked upon you as the
"Dr. Franklin Of New England" and know
ing that you have recently been to Boston to
talk to the folks Of Massachusetts, | come
down to day to ask you how the sub Tren.
sury will help the laboring man, when it re-
duces the price OF labor.
Senator. Oh! you can't always exactly
tell how a thing works for every individual,
and yet il is easy to see how it works for the
benefit of the whole.
Lnborer. bought a house last year Of my
neighbor Wheaton | paid him $500 in cash,
and gave him mortgage for $500, to be
paid at the rate of 500 year. Now, this !
could easily save, with wages at $3.50 day
-And in Eve years the house would be paid
for. But if wages are reduced to rs cents a
day, or even to a dollar, it will just take all
that | can earn to support my faIn'y-and
my house, with all that have paid On twill,
at the end of Eve years, 60 back to Mr..
Wheaton. How, then, am to be benefited?
Senator. This is kind Of natural conse.
quence Of a general rule. No general rule
works well in every case. You shouldn't
have gene in debt-you'd no business to 60
on the credit system-it is wicked system.
Laborer. But how could get a house
without it? had $500, and in Eve years
could easily have earnt The rest, and lived IN
tho house all the time.
Senator. No mattsr--it is one Of the
principles Of the party to have no credit nc
real good Loco has a bit Of credit; and you
must GO il, or you are not true to your party.
Laborer. But you have not told me how
sm to be benefited by having the price OF la
DOR TcUnCeO.
Senator. Why-you belong to our party
don't You?
Laborer. Yes.
Senator. Wcll-it is for the benefit Of the
party. aud therefore il is for yew benefit.
LnJorer. This is not quite clear to me,
and am not sartin that il is quite right
But since you have been to Boston to ieeter,
suppose IL must he true.
S,nafor. don't see myself exactly how
it, roen to work but have great confidence
in Buchanan and Walker; they say it's all
ri.ht-,nd its now become party measure.
end therefore it must be for the good OF the
People.
Lnborer. Will the pay OF the members Of
Congress be dinlnished? lfyou are made
Governor next spring will you get less wa.
res than Governor Ellsworth GETS VIII
The wsyps ~ tho Postmaster bc reduced?
Senator. The officers will get as much as
they dn now, Which may be worth trihc
p,oie II every thing else is reduced ONE haif
This Is an incidental bensfi, and couldn't well
b. otherwise.
LaJorsr. Then the Office holders w'Il all
be- bensf,tcd by the Sub Treasury OIL, VIII
they sir3