Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1840-06-18

II WAS but the other day that l saw m extract
from IN English paper. which stated tina, whilst the
cutlery manufactured in Germany was equal IN auai,.
~ with ihs Brush. It WIS 81 reduce ia pr,ce that
The latter woull have &c ABANDON the mlaaGcrare a.
'nccther"-lb.
TO the southern S,a,sS. 9, the wh,ic coffin. -rc
tobacco and sugar growing region. nnw 30 cricvoulv
afflicted WITH the curse ofthe paper system. 10 an this
regtnn lwould say-sindy the fn1ncill s.srcm of lIol.
land. F'a1cc AMI Cuba. Initiate thcm"-HtaJgr
Se''oT's sPee-h on ns SsA Trcrssry Jsaqars u.
To the other States wcald also sly-Io the like"
The foreign manufacturer goes hnmc--rurrh,scs
hs Labor. his wool. anl all other articles which enter
in'o hs manu- iaciure. at half their cu.l ia ihis country.
ana again returns To inuudatc us.-Bachasan's ycecI.
Jan. -
Establish a hard money gpvcnIaen, -BcqiOH.
Reduce the wages orlabor-Colioaa.
You have read them a,tcr;ively. and 500 tna, al
these speakers sdvoca'c the sub treasury bill bcc7u.e
It viii reduce our circulating medium and give rs .pc.
Gle alone for n currency. They would reduce The a
mount OF nSney 10 ,nc-third what 1t is nuN-iO specie
alone. II. of course, follows that wheat uhi b. under
a hsnk'ng currency. brought one dcllar. would h. s,Id
ior ih'rty-thrce cents. and labor which. uadcr 4 bank.
ing csrrcncy. brought To The laborer scvcut, 1--we cents
por day, could only yield him twenty-five ccnts-
Well iSli 80 with man who has money At interest
No. \ rich man has ten thousand dollar al interest
Il Yields him six hundred dollars a year when banks
are NJ existence, and il Yields the same 81, hundred dol
lars when the su6 treasury ras cut lhc money down
20 specie or 10 one thirI what it was. ~ per cent ON
ten thousand dollars is just sil per cent, whether tao
n"y Is plenty or scarce. The rate Of interest will nol
be reduced and there Is no Reason Why It should be
When the e are banks this man with hs money at in.
icrcst can buy SIX hundred BUSHES of wheat for In.
yearly Interest hut when the amount OF money ia the
country Is reduced - one third as much. and wheat
comes down to thirty three aud rtiri cents. he can
buy three times as much of anything, tree times a,
much labor, as much land. linus, be admitted iha.
a man with ten thousand dollars q, inrcrcs, can PR.
chase as much Of all our home products as he could un
der n bank currency with thirty thousand dollHs. Tho
man. therefore, who has money at interest, i. made
three times as rich under a sub-ireasury as under .
banking currency.
What Is a bank Ithas no separate cSisiynce. II
IS made AZ Of a certain number Of stockholders and OF
fccrS. It, s;ockholdc5s or mon hayi ing moneyin it have
is entire control Why do they put their money in
hankt Because, while legal iulcrcs, is six per cent
bankers can often get seven for the use ofthcir none,
These Stockholders are al men who have a certain
sum of money iha,Ehcy h I've no other use for and there
fore take stock. Suppose then a sub-trcosury bl
should pass and prevent their making a legal int. cs
on their bank stock. Why. so soon as hey End il 4
operate IN that way, they will withdraw their none,
aud place itat interest where hey can get six per CEN
That six per cent will be worth To them no les
Than eighteen per cent more money than the,
can make by banking under the mos, Gyorabl
circumstances.
j. II not conclUsivcly shown tina, If solfinleree, is 1
oFeratc either way upon The siockholden in banks j
viii induce them 10 so for, not against the sub-treasu.
~. Why is il then, We are asked that we find mos,
men who are owners Of stock and concerned ia bank
OPP nscd 10 the subtrcasuy2 II is u because they are
generally men Of enlarged views and who have
more al hear, ;he interests of their country than their
own private interest, The reader may rest assur
ell that # he setshis mind TO work on The basis tina,
We have here given him, and carries out the train o
urgumeni,he will come 20 the conclusion that bankers
did they act from selfish, pecuniary motives would b,
the supporters Of the sub treasury.