New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1843-10-13
i Ut 4 IIS 4 tf''N
Employment of Money,

Employment of Money,
It is hardly worth while to dispute about so
small a matter as how many millions are seeking
investment at the present moment. Nearly all
the newspapers (and the Tribune among them
represent that the Banks are constantly coming
into the Street and looking up paper-some oil
which lit is said is done at as low an interest as
three per cent. II this is not seeking investment
for capital it will be difficult to tell what that
operation means. Suppose that it should turn
out in the autumn now commenced) that bee1'
Butter, Pork, Lard &c. 'oiH not pay e. that
they will prove poor speculation-wlll the money,
boarded up for this purpose, be thus employed =
And what are forty thousand dollars carried oil TO
the West, compared with the amount known to
be accumulated in the Banks
Instead of being careless or inattentve reader
of your paper, it is doubtful whether there is an
other individual who peruses it more deliberately
than your correspondent, and he has never seen
any such recommendation as was alluded to by
us both. 1t is not sufficient merely to deal IN
gcneralities but you should endeavor to show that
there is field open for the secure profitable IN
vestment of money in other places besides all
street, and other modes than Stocks. No one
prctends that the daily transfers at the Stock
Boards are bona .fde operations. They are the
result of gambling disposition, and are IN tact,
gaming in the legitimate sense of the word, as
much so as if the same sums were Sported tor by
cards or dice. Now, setting aside the morality
of the thing, it cannot be denied that such trans
actions are debasing, and should be left, where
they belong, to the prolessed gamester. The man
who has more money than he can use, and wishes
to place it where he can realize fair return Tor 1t,
should be invited to turn his attention where this
object can be attained and at the same time feel
he is doing good If he does not fully appreciate
the latter emotion at hrst-unless he is utterly de-
bascd-he will in time learn the luxury of doing
good-and come to place true value upon 1t :
especially when he reflects upon the happiness
conferred upon those who are made comfortable
Of not rich by the use of his superfuous wealth
You know, as well as any Individual how many
there are who possess skill, industry, economy and
integrity, but utterly unable to bring them IN
to activity, and thus enrich the community, Tor
want Of adequate capital. Let single instance
suffice for an illustration person, to my knowl-
edge, has at this moment, the offer OF a job which
will amount to fifteen or twenty thousand dollars,
and which he will probably have to give up, be-
cause he cannot procure the necessary means to
execute the work in an economical and Of course
profitable manner. If done at all, 1t must be car
ricd to some other place and given to those more
fortunate in possessing adequate means, depriving
the community of the benefit to be derived by the
circulation of this money, and taking bread from
the mouths of the operative and his family. The
l. afodI foI1rp
months, and give an average profit Of fifteen (say
twelve and half per cent. Will any man who
understands the value of money and knows that
aboris the true source of wealth, pretend that 1t
is better for him to buy Government Securities at
one hundred and twenty, than to allow another
person to earn for him larger income IN SIX
months
Money has very aply been compared to ma
nure. It is useless in heaps, and Is good tor no.
thing unless spread abroad; and those who DOS
sess it should remember that it IS the country,
and not the city, that needs fertllzing.
few words more on another topic. Some
of your correspondents do not seem to have very
clear ideas as to what money really Is. One OF
them considers it as the measure Of value only,
whereas ii is in fact measure of value, and at
the same time an article Of commerce. When
we speak of dear or cheap 1t IS comparatively,
not actually A person in good health and under
similar circumstances, will eat no more bread
when flour is five dollars a barrel than when the
latter cost twelve dollars The actual value OF
bushel Of wheat is precisely the same at one pc
Rod as at another it will noursh as many midi
viduals in given time this year as the like guam
titv did FIVE ten, twenty or fifty years ago
What. then, has changed? Neither more nor less
than the labor requisite to obtain the wheat or the
cash, as the case may be; and if this labor be
estimated in dollars and cents, the latter become
so far the measure of value. But it is easy to see
that specie or bullion canbecome neither food nor
raimcnt, it must often be mere article OF COM
mcrce, to be bought or sold like any other COM
modify. Witness your own columns, where the
price is quoted daily, much as cotton, flour, or
ashes.
Perhaps you deem your correspondent a c'f'
but in this you are mistaken ne is some miles
from the metropolis, and in another State.
DELTA.
q Sylvania Association.-QfhGe No. rs
third from a M. Information