The pilot. [volume] (Baltimore [Md.]) 1840-1840, 1840-04-02
We extract from the Gl1be the following:
THOUGHT OR TWO ON PRICES AND La

ON A"O OIN IOANAh' 49,
Dor.
1. Prices will fall all other things being unchang-
ed, If the currency lessons and contracts, whether 1t
be specie paper. So they will rise, If it expanOs
This was shown in 1919 and 1920, and the u
nlted States Bank, instead of the Government or a
sub-Trcasury, was then charged with causing the
tall in prices, which fall was much greater than
now.
2. Prices will fall, all other things being unchapg
ed, if more of an article is produced, or an oid
market for it is cut off, So will they rise, if less Is
produced, or a new market opened.
This has Just been shown in respect to grain IN
1887 and 1888, when the grain crop was small
here and prices high; and in 1889 and 1910, when
the crop was large and pr ces low. So as to Opiup
since tie market Of China has been cut off.
3. Prices of labor never fall here, all other
things being equal, as low as In Russia, Germany,
France, England, etc.
Because there The great capitalist has TO main
tain established church, nobility, monarchy,
splendid army, navy. and hosts of paupers,
leaving 10 the aborer merely enough wages for
fund and clothing. While here the laboring man
or the man of small means, is taxed as well as the
capitalists also free, and aids in the Government
of the country; and, if not getting larger share of
h earnings for wages, can profitably till the soil
for himself while our lands are so cheap, ex-
tensive and FERTILE
luS CuTTeuCJ 10 lluL cACluSNoly III GHR-
land, France, Germany, or Russia; and if it was,
the effect of that alone the amount of the price
of labor would be trifing
A. Prices are kept more uniform, sound and safe,
by good currency, founded on specie. But that
is all the effect of currency prices of either labor
or property.
Because currency equal to ten dollars per head,
whether of paper or coin, or mixed, would leave
prices entirely the same in amount, so far they
might be affected by the currency alone.
5. Prices of labor and property, whether falling
or rising leave the laborer much in the same cond-
tion except the Inconvenience and perplexty of
change because he gets, for less wages cloth,
grain and gro. cries, if the price, is usual, falls
proportonably in all.
But when as in expensive and extravagant mon
arches, the laborer gets less and undue ratio OF
what is earned by capital and labor, and the pam
pereJ arrisocrit gets more, that is an evil and
curse; and has b, en- avoided, and always will be,
here, while our ZEE institutions flourish, whatever
NAV he '',e lind ofcurrency which exists
Buff the kind is good, uniform, safe and sound,
the lab rer and the midding classes get, also, not
only fair proportion, but one that is without risk,
loss, and constant change. This he ought to have,
if possible; and part of the duty of the Govern
n emf is to secure it to him by all constitutional
means.
Comment:
We have copied this article at length, on ac.
count of the remarkable and striking admis-
sons in the two concluding paragraphs We
are told in the first place, that it matters not to
the laboring man whether prices labor and
property be falling or rising because he gets for
less wages more cloth, grain and groceries.
But mark what follows. But says the Globe,
"when as in expensive and extravagant mon
arches the laborer gets less and undue ratio
of what is earned by capital and labor, and the
and curse"
Now we ask the lIboring man to reflect for
a moment on the truth as here presented.
Can the laborer now get more cloth, grain
and groceries for less labor than formerly: On
the contrary, does he not find that the 'pam
pered aristoerats," the well paid office holders,
who receive the same salaries in gold and sill
yer are the only persons who get more. Their
salaries are doubled while your wages are re-
duced, but this reduction of wages is not the
greatest evil. 1t is the absence of all wa GEES
II is the utter destruction of business; the want
of employment that is the curse upon the
country.
But this article in the Globe is remarkable
for another admission. 1t is that it is a part of
the duty Of the Government to secure to the
laboring man, such a condition of the currency
that he may receive certain and constant en-
poyment. Remember that, We who stand idle
all the day whilst your wives and your little
ones are wanting bread. Remember that you
are idle and that they are starving because the
s'pampered arstocratic" office holders have
doubled their salaries by their war upon the
currency; and remember that it is for you to
say how long you and your children shall
starve, and how long they shall e1'pampered'
at your expense.
Extract of a letter dated