, 1841-05-22
DIALOGUE ON MATTERS AMI THINGS IN GENERAL,
BETWEEN SMITH AND ONE

we have seen them do in the United State:
within the last three or four year.-Sta5ihtl
IN the currency oil a country IS rs essential
TO its well being as stability i'll its weight:
and measures.
$50 ii appears 10 me, and | am at a los;
to conceive why all the people OF substan
tial property 10 the country do not rise up a.
one man against so pernicious a system, ane
put it down.
S.-My dear friend, the people of sub
%stanstial property think political economy
to be beneath their notice, and therefore viii
not study it; in consequence Of which they
remain ia ignorance OF the causes which
sweep away their wealth. and really believe
aiuctuaring currency to be 4 very beneficial
thing TO their interests.
j. Why that is really strange.
Sit is not more strange than true, and
they remind one OF the Hindoos, who vie
with each other in casting themselves under
the car Of the heather God Jaggernaut. tina,
they may be crushed BY lis wheels. When
any holy tells them That the power OF the
banks 10 expand and contract the currency
as It suits their interest or pleasure, is virlu.
ally the power 10 alter The price Of every
man 5 property, whether it tie houses. OF
lands, or merchandise. or ships, or stocks, or
bill, "f cxcange, they cry out. "vnu are q
loco foc0-you are hostile 10 the credit svs,
;eIh.'
J.-T:la: is tcue enough. | have heard
Shocks Use that ideniical expression.
S.-Now | should like To know where Is
the difference between a fuc,uatnG curren-
cv and n Cum-eiasiIc yard stick. The one
Is 4 measure ni value, tie other a measure OF
length. Now suppose we lived in Il country
eoserned bv a desput like the Phcil OF l.
eyr,, who WAS 4 great speculator. and who.
by virtue of his sovereign authority, had n
right 10 fix prices and 10 regulate the weights
and measures Of the country, hy making the
yard stick logger or shorter. the pound weights
heavier or tighter. and the hu>hrl measure
larger or smaller. Just us it suited his IN err
cS:~, wnat do you suppose would tie the con-
scIrencei
J.-l can see that plain enough. Whea
ha wanted To bay cloth he would stretch
lie yard stick 10 four !ret. and when he wan
ted 10 sell he would shorten IL To two
Y Hcn he wanted To buy r:"iie or sugar he
would declare that the pound must he TWEEN
iv ounces, and when lie wanted 10 sell he
wauld reduce il, 20 twelve ounces. When
lie wrn'e IL Uuv wheat lie wnuld decree
tii' the bus',rl measure should be made Ia
iluli five pecks. and when he wanted 10 sell
lie would reduce the SIZE To three peckS.
J.-Iou are right; and 1t is plainly 10 he
seen that under suclia system no trade could
Oa carried on without dinCer Of rum, and
vel this is precisely the condition in which
we are placed by our ranking system, and
yet the mass of the intelligent AMI educated
clrs>cs of people do not perceive it.
J.--If they l1Se their property. then. hv
remaining blind Ia Il truth that is 81 plaIn
ihat there is not n farmer " hurkster IN the
..Yrrkpt that reads tie Ledger. that cannot
>ee il, they have nobody 10 blLne but them
selves.
S.--.Iust so: bnt still one cannot help
feeling for one large class of sufferers. ]
mean women ard nrpilants and aged and re-
iiIed people, who have invested their proper
" in bank ard rail road stocks and loans, I'M
der The advice of friends who had made
them believe they were SagacIous tinancler>.
Hundreds of such persons nave been ruined.
or nave had their income Greatly diminished;
bat they are not TO be pitied more Than that
much larger class who have been The victims
npon 4 smaller scale OF the abuses of the
banking system. Imean the lab,urIng elias.
ses, mechanics, tradeSmen, and other who
live by WORK. At one time they have been
tossed up by an i~nfl!tion OF the paper system.
and a, another time they have been cast
down by 4 contraction. Al one time they
had too much work, al another time none at
all. At one time they could earn high wa.
Cos, and at another they could barely keep
from starving. All Ibis results from the gum
elastic yard stick system. and those who have,
felt TIE w"fa! infections inserarable FROM it.
will not fail to see the true soLrce Of their
troub!eS.
J.-Upon another occa.i N | would he
e!ia TO cunverse with you further on this
subject.
S.-Nhenever YOU please. think you
have imbiDed some new notions since We
met. and if you don't mind what YOU saw t"
Snonks ard others of his school. YOU will be
denounced as m enemy TO "Fennsvlvanla
i~a<,ituti, ms and Pennsylvania INTEREST,"" which
means. when truly interpreted, that YOU un-
ders:and political economy better than your
cccIsers.
n,rpruor,,r ADVENTURE OF GOVERNOR