Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1840-11-07

manufacture of which, IN our country, from the
expansion Of paper currency, would cost one
hundred dollars" This difference growing out
oil the price Of labor, is an Advantage TO the
American mechanic, Tor, according to his own
admission, it arises from the higher wages which
he receives for that labor, and not, certainly, in
consequence Of the cheapness Of land in Germa.
n.y. or greater fatilit es for manufacturing which
it possesses If he would look at the condition
Of the German laborer, and allow that to influence
his view Of the subject, appreheud that he would
not be 80 earnest an advocate Of the German sys-
TEN. DiSregarding however, the condition Of the
German mechanics very material point indeed
in this controversy, and one in every way worthy
Of the notice OF a staesnan--he goes on to n-
quire, "What is the reason that, with all the ad.
vsntsges our laws afford to the domestic manu-
iacurer, we cannot obtain exclusive possession OF
the home markets and successfully contend for
the markets OF the world! 1t is simply because
we manufacture at the nominal prices Of our in.
fated currency, and are compelled to sell at the
real prices OF other nations. Reduce our nomi.
nal 10 the real standard Of prices throughout the
world and you cover our county with blessings
and benefits" One oil the strong reasons why
we cannot do what he so much desies is, that
our mechanics and laboring men are unwilling to
subssi on porridge and rye bread, Nth a lille
grease or lard, tcice day. They want some Of
the comforts Of liie-a piece Of butcer's meat for
dinner, and a good bed to lie upon at night.
! What the real standard Of prices in China.
Germany, Italy, Russia, and other European coun-
tries, is, will be presently shown: in the mean
time respectfully suggest TO the learned senator,
that there are great number oil trades exercised
among US, by our mechanics, which would be Sc.
rously injured by his reduction TO the real stand.
ard Of other nations, because they never export
the products Of their labor and have no interest
in foreign countries. The Carpenter the Mason.
the Blacksmith Of this country, seldom come in
competition with the carpenter, mason, or black
smith OF Germany, and to reduce the price Of
their labor would be doing them very great and
serious injury. As consolation, however, he
tells US, that this reduction Of our wages will be
followed by reduction in the price OF all the ne.
cessares and comforts Of lie.'
/ | propose to consult an authority in reference
to this matter, which is conclusive as the au.
thority Of the senator.
Adam Smith, il his Wealth OF Nations
says: "a paper money, consisting Of bank notes
issued by people Of undoubted credit, payable
upon demand, without any condition, and, in
fact always readily paid as soon as presented is.
in every respect, equal in value to gold and sill.
yer money, since gold and silver money can At
any time be mad lotit. Whatever is either bought
or sold for such paper, must necessarily be
bought or sold as cheap as it could have been for
gold or silver
The increase Of paper money, i! has been
said, by augmen!ing the quantity ana conse-
quentIy diminishing the value Of tue whole cur.
rency, necessarily augmentS the money price Of
commodities. But as the quantity OF gold and
silver which is taken from the currency is always
a-,,.l tba -t,ap, # ,i.birp &c lIad
it, paper money does not necessarily increase the
quantity Of the ,chole currency.
From the beginning Of the las. century TO
the present time provisions never were cheaper
in Scotland than in 1853; though, from the cir.
lation Of ten and five shilling bank notes, there
was more paper money in the country than at
present. Wheat, upon most occasions, is fully
as cheap in England as in France, though there
is great deal OF paper money in England and
scarcely any in France. .
From these views ve5y important truth is
ascertained, that in countries such as Holland,
Span, France and Germany, prices Of provis.
ions are no! necessarily cheaper in CO nseq uence
OF their possessing a metallic currency, nor are
they necessarily dearer in England or this coun.
try in consequence Of paper currency. Tle
laboring man, in England, enjoys as many CON.
cfs as the Iaborlug man OF any OF the other
European counties, although the currency OF
: England consists mostly Of bank paper.
|. is true, as Mr.. Buchanan says, that all tie
, English VINO desire TO nurse their fortunes by
living cheaply, emigrale TO France, or some other
! portion OF the continent but those who do it
are extravagant land and fund holders, who, by
gambling and other vices, are reduced in their
circumstances, and find it necessary to Withdraw
-rom their dissj paons in order 10 redeem their
fortunes. But VINO ever heard OF an English
mechanic ever doing this? /; is only the idler
and spendthrl VINO INDUCES in extravaganza
and luxury, that finds such an emigratIon' ne
cessary. The working man would lose more
than he could gain by doing it, although the
broken down nobeman might fad it to his ad.
vantage.
Such arguments as these, to prove the advan.
tage of purely metallic currency, can have no
weight with an industrious man, or any other
man who is gifted with common sense. "lf,"
as was said by Mr.. Davis Of Mass III metallic
currency makes productions cheaper, if it gives
vantage ground 10 a country in the general round
Of trade, how is it that these nations have not
long since run England out Of our market with
their cheaper goods? How is it that we draw
+ annually from England wo.foId more OF imports
than from all the residue Of Europe?-Why isl
that they especially France, shut their ports
against most kinds Of English goods to protect
their own manufactures? Why is the same policy
pursued elsewhere! In these countries the hard
money has had long, full and faithful trial, and
we know the result, England, without any ad.
vantage over them in our ports, has overwhelmed