The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1840-04-07
THE WAY II WORKS.

The Sub Treasury system, which has been in
operation for some time past, in defiance Of the
law, and as Mr. Cambreeng sad 'In spite Of the
lamentations in Congress and elsewhere, is begin
ming 20 be felt by the laboring classes of the
try in more tangible shape than heretofore The
farmers, mechanics and manu- tdcturors have suffer.
ed severely the last year from low prices, and the
difficulty OF making sales and getting pay for their
productions. They are now driven To- the neces-
sity of suspending operations, reducing the pay
OF the workers. The manufacturing establishments
on the MerrimdCk, below this, learn, have re-
dnced the price OF labor % per cent and some have
gwen notice that shortly they must suspend bust
ness altogether, until change of times. An intel.
ligent farmer who is in the habit of employing
several hands, gave us information few DAYS since
that the prices now obtained for produce would not
allow more than 81 per month for hands which he
had paid $l2 here tofore, and that his opera
tons must necessarily be curtaed unless the price
of labor came down to it, under the present poll CIV
of the government. So it works.-Concord (N H.
Statesman.
Yes and so 1t will continue 10 work. The Wash
ington Globe, New Hampshire Patriot, and other
administration papers tell us, week after week that
the sub treasury system Is now, and has been for Il
year or two, in operation. What do the people
think Of its effects? Are laborers so well sat
ished with its operation in reducing the value of
property and the rate of wages, as to wish to have
the system fastened upon the country as the set
tied policy of the government? Do they wish
this?
The manufacturers of the Merrmack are not the
only ones that have been compelled to reduce the
piIce OF labor, or suspend operations entirely
What manufacturing establishment IN New Eng.
land that can at this time pay the hands which it
employs the wages it paid them even two wears
ago. Not one. There is no article manufactured
in New England at the present time that will sell
for any thing like The price it formerly command
ed, and of course the manufacturer cannot expect
al ruinous sacrifice, to pay his worsmen their
old wages. Besides the fall in the price of the ar
ticle, how can our manufacturers collect their
debts at the south and west? Ten years ago when
Jackson first commenced tinkenng the currency,
ten thousand dollars due a New Hampshire man.
ufac lures from indiv dual in southern or ,ves
tern state, could be collected for one half or one
quarter of one per cent for exchange. The man.
ufacurer could receive his money, as soon after il
was due, as the mails could bring draft. at the
nearest bank. But now it is almost impossible
draft on New York Boston could hardly be
had at any rate and if can be had at ALL it can be
only at such rates as must prove ruinous to the
purchaser and to the manufacturer 1t now costs
ten or twelve dollars to collect debt of a hundred
in the south, where but few years since il cost
not single dollar to colectit. How can the con.
sumner at the south or west buy under such state
ofthings this How can the producer at the
north anufacture pay any thing like former
prices for labor?So with the agricultural interest
That also suffers from the general depression un.