Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1840-05-28
From fle Rirhmond Fnquirrr.

DEPRESSION or PRODUCE.

DEIR FSSlON VII fRoDCIF..
The wings ARE still canrins and clamnr-
ing about The depression Of puilnce. But
how ran that circumstance bp asciihpd 10
Mr.. Van Rnrrn7 How ran Gen. llarri-
! snn's p'rciion relirvr il! The wings count
upon i: as one Of their great weapons for
carving nn The war. a correspondent nf
the Boston Atlas from Cincinnati wires.
that Inv prices nrr uortino wnnhrrs in
nur hrhalf." BuI is Ibis the first time rnI
we have Witnessed low prices? They
were fnrmcrlv much lower during lhr
pamlv life Of the National Bank. Has
ards tables state thr average price Of -four
in 1921 nj Sd Is. In 1924. Mr.. Clay in
his srrcch Grrw n gloomy picture Of the
condition Of The rarket-says tia, lie
country was t!'rn n.osI srriuuslv aiIrrrrh.
iy Ihc "djminish,d r17or's "f native rrn
tIucr: hy rl!r depressed End reduced >iar.
"I n'r foreign navignIinn l'y omr dimin
i>hed commerce; hv successive urIhrrshch
crops "l grain. rtrishing in orr l0'ns nnd
barn Yards for the want Of n market: NV
lkr alarming diminution of The circulating
mrdium; hyl numerous bankruptcies noi
limited IN The trading rlassrs. hul cxicuh-
inc to aH ordtrs 81 sociriy; hv an "nirersal
complaint aud nf The rGni ofrnCioymfnt.
and - consequent reduction oftke WAGES rf
LABOR: hv the rarennns pur.ui after Pub
lie situations. rul for The sake oilhcir bon
ors. and the Performance "f !htir public
duties. hut rs n means of 7'r'mte subsis.
fence; hv il'r rrl,rrari rcsrriin u e ErriioHS
nse # PAFER MONEY" Sc. &r.-
The nvu.inn was dreadful in '27-'2S.
when Tie rrodieal expansion Of United
States Bank, and sudden contraction
brought on y srn:c nl distress. in wlich the
rrsrp' is cnmrara' rrly lrillrg. TIE
(i"he reminds MS. that " The memorial "a
Cuusr nfIhc Char her of Commerce nf
Philadelphia in April. 1920. which may lor
found al length in Gales and Srafnn's
Srn'e rapcIs. Finnnrr. Vol. 81. page 5:::5.
Shows rhaI rhr price nf -four had declined
in hat civ. in as short limr. from twelve
d"llars per barrel tn four dollars and srver-
" five cents. and Shat real estate and 9th.
er property had fallen in n proportion slill
more ruin'us In Niles Register. in the
years 1919 and 1920. tho vast fall Of pri.
ccs in every part nf The country may he
found stated in detail. The distress pro-
duced AT That time by The operations Of
that Bank al Philadelphia. The scat of lis
power. WAS bu trifiims, compared will,
the general tevastarinn nf property. il Oc-
casioned through nj the South and West.
Most of The local hanks in those regions
were prostraIed. The ruin of farmers.
merchants, and manufacturers. was al
most universal in manv extensive sections
Of The Union, which had been previously
the scenes of The highest temporary pros.
prri,y. accustomed hv The flood Of specula.
tinn. Such artificial spring tides are as
inevitably follow Ivy corresponding ebb
as in the ocean itself. The laws Of trade
are rs in rxnrable as'lhose ofthe solar sys.
tenn" Yet the Wings are now alienpt-
ing tn raise panic orhari times tn make
political capital inr Gen. Harrisnn!-
THE WAGES OF LAHoR.-They who
have taken up The strange nation that the
rewards ofindustry are diminished by a
sound currency. will please look al the fol-
lowing:
THE Salem Advertiser announces, OIL
The best authority, that mechanical labor
in Cuba receives higher compensation
rhan any where else. Three dollars per
day is The customary price paid TO good
mechanics of all descriptions. Coopers
frequently make from seven 10 len dollars
per day in trimming casks, and even slave
labor is worth one dollar and fifty cents a
day. Iourneymen carpenters. it is said
can get sixty dollars month and hoard.
AMI yeICuba is hard money couutry."-