The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1840-04-04
Number 40.

ton produces delusive appearances OF
prosperity and promotes spirit Of extrava.
gance. But, sir; under this system, .he
storm iS sure to succeed the sunshine; the
explosion is certain TO follow the expansion
and when il cemes--and we are nov suE
fering under is--what is then the condition
Of the mechanic and The Isbotine man
Buildings Of every kind cease, manufacto,
rles are closed public works are suspended
aud the laboring classes are thrown out OF
employment altogether. 1t is enough I'd
make ones heart Bleed TO reflect upon their
suflerlngo, particularly in our large cities,
during the past winter. In many instances
the question with them has not been what
amount Of wages they could earn, but
whether they could procure any employ
ment which would save them and their fam.
lies from starvation. If our State Leeisla.
lures, which alone possess the power, would
but regulats our bloa!ed credit system wise
ly, by restraining the banks within safe linn
IFS, our country would then be permitted
to proceed with regular strides and the la
boring man wonld suffer none Of these evils
because he would receive constant employ.
ment.
In the second place, what is the effect sf
the present system upon the wages Of labor
and upon the prices of the necessaries and
comforts Of life /! 1t cannot be denied that
that country is the most prosperous where
labor commands the greatest reward but
this is not for one year merely-nol for
that short period of time when our bleaied
credit sy6tem is most expanded--bht for
succession Of years for all time. Perna.
nenee in the rate Of wages is indispensable
to the prosperity Of the lsbotina man
ceuuarnUs sne IuTure. 70 calculate upon
being able 10 rear and educate his family by
the sweat Of his brow, and to make them
respectable aud useful citizens. In this re-
sPect, what is the condition of the laboring
man under our present system! Whilst
he suffers more under it than any other
member Of society. he derives from it the
fewest advantages. 1t is principle of po.
litical economy confirmed by experience.
that whilst the paper currency is expanding
the price Of every thing else increases more
rapidly than the wages of laber. They are
the last to rise with the expansion, and the
first to fall with the contraction ei the cur
reHcy.
The price Of days or months labsF
of any kind-lhe price Of hat. OF pair
Of boots, Of pound Of leather, OF all arti-
cles Of furniture, in shsrt, Of manual and
mechanical labor generally, is 6xed and
knewn to the whole community. The bnr-
chaser complains when these fixed prices
are enhanced, and the mechanic or labofer,
in order to retain his customers, cannot, and
does not raise his price until he is compel
led to do it by absolute necessity. His meat,
his -four, his potatoes, clothing for himself
and family, mount up TO an extravag AMI
t price long before his compensation is in
creased. 1t was formerly supposed that the
) productions Of meat and -four were SO vas
in our extended and highly favored land,
that monopeySef them would be impos
. sible. The experiences Of III last i've 81
T three years has proved the contary. Tht
b banks, instead Of giving credit in small
| sumS 10 honest men, who would have usec
: the money wisely, in promoting their owr
+ welfare, and, as necessary consequence
4 that OF the community, have loaned it 4
+ menopolists, to enable them TO raise tht
i prics Of the necesssres Of life 10 the con
a sumer. Have we net all Learned that d mi!
i ion Of dollars has been advanced By then
e to an individual, for the purpose Of snablin,
9 him 10 nonopolize the sale Of all the bee
d consumed IN eur Eastern cities De w
+ not all knew that this effort proved success
e ful during the last year in raising the price
| of this necessary Of life TO twelve and six
: teen cents, and even higher, per pound
Q Now, sir, although the wages Of the labor
n inS man were than nominallv hiOh, whn