The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1840-10-08

contractor caWe 10 W asnlnptoh ias' VIII
ter, and received a draft of $50, 600 on a
specie. paying bank in New York. This he
sold OF 10 per cent. premium, and with the
avails purchased wildcat money, with which
he paid the producer, the farmer, and the
laborer. This is the operation of tho spe.
Gle payments. II gives TO the Government
bard money, TO the rich contractor hard mo.
ney, but TO the producer and the laborer is
gwen paper, and bad paper only; and this
system is recommended as especially favor
ing the poor man, rather than the rich, and
credit is claimed for this Administration as
the poor mans friend Let us look little
more nearly as this matter, aud see whom
in truth, il does favor. Who are the rich
in this country There is very little here
diiary wealth among us-and large capl
ialls,s are not numerous. But some there
are, nevertheless, who live upon the interest
of their money, and these certainly do no,
suffer by this new doctrine; for their re'e
nues are rendered more valuable, while the
means of living are reduced in value
There is the money lender too, who sui.
fers not by the reduction of prices all around
him. Who else are the.rich in this coun
try Why, the holders of Office. He who
has fixed salary, Of from $500 TO $4,000
finds prices falling but does his salary fall 7
On the contrary, three-fourths Of that sal
ary,will now purchase more than the whole
of IT would purchase before and he, there.
fore, is not dissatisfied with this new law.
There is too, smother class of our fellow
citizens, wealthy men, who have prosper
ed during the last year, and they have pros
pered when no nobody else prospers.
mean the owDers OF shipping. What is the
reason Give me reason. Well, | will
give you one. The shipping OF the coun
trygcarries on the foreign and domestic
trade-.he larger vessels being chiefly in
the foreign trade. Now, why have these
been successful. will answer by 40 ex
ample. 1--we on the sea coast Of New En-.
/ gland, and one of my nearest neighbors Is
the larges, ship owner, probably IN the Uni
ted States. During the pas. year he has
Dadet~hat might suffice for two or three
fortunes and how has be made i, He
sends bis ships to Alabama, Louisiana, Mis-
sIssippi, to take irieghts OF cotton. This
staple, whatever the price abroad, cannot
be suffered 10 rot at home, and therefore II
10 shipped. My friend tells his captain TO
provision his ship at Naichez for instance,
where he boys -four and stores in the de-
preciafed currency of that region end pays
for them by bill 90 Boston, which he sells
at Az per cent. premium. Here at once,
as will be seen, he gets his provision for
half price. He delivers his freight in En-
rope, and gets paid for it in good money
The disordered currency Of the country TO
which he belongs does not follow and affect
hIm abroad. He gets his freight IN good
money, places it 10 the hands of his owners
banker, who again draws at premium for
IT, The ship owner then makes money,
. hen all others are suffering, because he con
escape from the influence Of the bud ldss
and bad currency Of his own country
Now, | viii contrast the story OF this neigh.
Tor with that Of another Of my neighbors,
not rich. He is New England mechanic,
hard working, sober and intelgent-a tool
maker by trade, who Yields his own sledge
hammer. His particular business IS the
making of ausurs for the South aud South
West. He has for years employed many
hands and been the supper, thereby, Of many
families around him-himself, meanwhile,
1 moderately prosperous until these evil times
came on. Yearly, however, for some years,
he has been going backwards-no, less in
dustrlous-nol less frugal-he has yet found,
that, however apparently good the prices
/ he might receive at the South and South.
west for his tools, the cost of converting
those funds into funds current in New En-
gland, was rulnous. He has persevered,
however, always hoping for some change
tor the better, and contracting gradually
The circle Of his work aud The number Of
, his vofkmen, until at length, the little earn
? Ings of the past wasted, and the condition Of
the currency becoming worse and worse,
/ be Is reduced 10 bankruptcy; and he and
the tseniy families that ne had supported
are begsared by no fault of their own.-
" hat vas bis difficulty he could not es
cape from the evls Of bad laws and bad
currency at home and while bis rich neigh.
+ Dor, v no could, and did, 10 made richer By
( these very causes, he, the honest and 10
/ dusirious mechanic, is crushed 10 the earth /;
and yet we are told this is system for pro
noting the interests Of the poor.
This leads me naturally to the g.ent sub
j@et Of American labor, which has hardly
been considered or discussed as carefully IS
4, deserves. VIVA; is AH.erican labor p
1t is bes, described by saying 1t is not Eu
ropean labor. Nine tenths Of the whole
labor Of this country IS performed by those
who cultivate the laUd they or their fathers
own, or Who 10 their workshops employ
some little capital Of their own, and mix it
up with their labor. Where does this ex
/ -, eswherel Look al the different depart.
menls Of industry, whether agricultural,
manufacturing or mechanical, and you will
find almost IN all, The laborers mix up some
liule capital with the work Of their hands.
The Iaborer Of The United States is the Uni
ted States; strike out the laborers Of the
United Ststes, including therein al Who IN