Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-05-09
From he .Ncr Iorh .!taeiiran
A SCARCE AND EASY MONEY MARKET

II any man now can remember faf back A. the inc
oi MI Jellerspns Administration, he Will tcullcct the
Embargo That measure MAS adopted. among other
motives, h save vessels from the grahbnr SYSTEM
that tho great nations III Europe mon our
commerce. II did mol prevent vessels comm IN hot
prevented our vessels from gong ont ~ we had len
~ Of imports, but small exports -ihc rlnseoucuc, w.
we list all or CON- 10 pay Tor cur imports and cr,Lao.,
Q" Europe rose very high 1t was tho only thing III fact
that 'eei UP, every thnl else ,rca d,rp-fr the les
reason In the world thai We LOST all our money vl.h
became very article
When MIR Madison ran e into p,vrr Tho r,l,,, ,
changed. and INSTEAD Of enlarge We Ind - non. iot,,
course ana mon iniI"fatlon," which put stop 10
pretty much all ircign trade with nations Tim, ,hn.cI
us.
Strange to say. property immediately Lcyou Il, ,,sc
com came IN upon us instead Of foreign merchandise
Exchange on England fell about E. } s,eln,, t rio6
sterling oil Bulls and such was the extraordinary cl,no
IN Tie money aiiairs OF the country thai mn, wi,
sent abroad aud purchased the public H., ,i,
held There and al that time Government cgrld l,yo
borrowed from our otrh people much money as II
wanted al as 10" rates as England could borrow If her
own people.
These facts are referred 10 simp, To show thai M
matter 10y what cause weare rendered ar,rc or .oy,, I'M
P'riers, We arr IN trouble Ia iuoney matters md m
versa, "hcnoutliDpris arr cutoff or hunted then uonry
becomes plenty. don't pretend to advocate clh,r :,
IRENE plan only state To facts "a matters tim, h,
not To be lost sight Of. Ii We want Ia ,r,Lo -.
stsEce, all We have to do Adopt measures that lead n
larger imp rs than exports 1his We can d., viii,
an emoH5o-o Other nations can lend t,rr md Ia -
tect Tins; they have only refuse takinpnlr rroIr,,ns
and We have only Ia admit theirs as We now, lo and
here Is dn embargo as eunplotc as That one If t If
iosoh lline And then, again. If W desire 1, rral,
money plenty all ~c have do 4. IL al,ut ,,...,,,
mat prohibit imPrs vi torelgn goods and .urr, an,
own wants by our own ahors In (, al Of rayif u, ~
f,r foreign productions or labor
My opinion is, that too grrat n srarc, Of y,ous,, .,
too great plenty Of II, Is almost equally bad multi
course, that produces neither one Nlreine ar ,,r 1.
decidedly the best for all Interests: and Lnovino how
10 produce both oNlTtmos. il would seem la Ie an cas-,
matter u run line midway
on booking at the prices rp.u State Indebtedness
abroad, and tie estimate oqu,nily in hch If held
al h0ie, as slSothe deprecated value II General
nen' securities, or promises to pay pretty sure in
aicetion OF nations prosperity 81 adyeslly II IS pttv
oicarihatweeiihcrhar n1ablllty Il, lay Dr.
iy are under the operation Of unwise influences Winch
Is almost as lad. In either case 1t IS well L, l,k in,
Inc matter. and make II clear and undoub,eI FIR my
own part 90 not hesitate 10 say that all The debts row
cue 'foa General Government and State Governments
compared with the easy ability oIay tlcm is in amount
80 shai as 70 constitute stigma any party hayjnr
me political control. and falling 10 adopt measures
70 accomplish and conn lec prompt liquidation Iyen-
lure 10 say, you may iahe IN this community
OF IN any part OF our country engaged IN the paincs bo
sness affairs OF life. aud lot him owe any share If The
present. public debt and give him pro ra,s share Of the
Natona! ability 10 pay ii, and he would in one month
or in ess tlne put his credit above par in any mari
where he was known