Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1843-02-23

thai things wnull B. fa6niteiy worsc sthere was no
law aEainss1he brokers. Sos and thas Is sIaw III
trade pnd law - iHyinci5e As bny ilaw 0fnaluTe
that ceterispSriO0s, -four and oil otheF products
bear abetter prizes vhenshose who huv can Ret
\ rey al SIX per cent. than vAcn they Afs e0mpei5N
4 ray higher rates and stand hsfd shaving. ins11
% The condition OF Masylsad, that result
public deht. and the pressure Of thar veg
made hsr shsfp-witted in throwing -flf
mems 10 the pay inert 81 It, md henc6hc
usury in nli lie foszns. Hard Time3
lag Demonstrated - he suEpessss
he faetsihe toiiy of.she lav 81 =
THAT lhc result could nGzhas'
esaise Il. and seys, 80
i most wesF sttss
/ fsls laws &C tasde
me that word: for letussles
and what mile Is not, ard PIC
made m. fraln which thereis 10 tEeApc
is trade AfT common cease would deM
slsely ss,he' flesrnad men'ds6uc il, II whol
Hines scouts Ishauld again say, tk4t Hraaes
exchange Of 'TFcdnvts for products eF thIek5,
nafEfal yalas FOR ether thngs-oi tiafstru vSiUt
and thai rasisg was not sradsissrE but the fasfrx-
rat az trade, and the 'sgsat for It's ttsnSsers The
wagon s0fthk,esT that Transports chr products 70
their place Of destination, and bring etEers III res
turn are not lcie d any psrt Of s. but tie insfrE-
Ese1its aud the aevnfs Of trade The vessels, than
bear eur produe.slo ACKNOWLEDGEMENTS bring bsck
returns arSFo trade, but the Instruments &c tsNde
The ITSELF which sustains le trade o the v0slds
is no part Of trade, but lis instruments atthe same
distinction applies between money ard TRADE, forsmo.
ney Is no pflrf Of trade, but lts Instrument and
agent for transfer II Hard Times fhad observed
this dislinctipn--anf it is widc as The seaheteeei
trade and the different inssrument Of trade, 81
which money is one. he would neheS have laxed
With aaaltempt to alter the 'iara 81 Trade nor
have ridicu,9d Say definition or it ak A*tonrnasam
or puzElefof children a child e4ght net Ii be
puzzled wi,Iiiss His ownFexcmplifkayon,i n which
his eNh GOOSE figures 50 logically would have
brought his mind TO the distinction between trade
sid the ngif9ment ct trade, Lad he attended tot--
for il his case where the Collects eaehapkei fora
goose, thcse}is Intervention of money ct I'll. nd
Use 81 the instrument Of trades but lard Ignesds-
sccnds tedirect barter snd trade and rede too BIZ
VERY kai5e nature, unless his gooee, should tusis
out TO Icy golden eggs; Of which think there Il 7
little probability, as sie see ms 70 be an ordfHcFy
goose. In ell earnest, the notpna of Aard ihes i
and mine are rydifeFent abon, trade and traders
He digniins with the nameof traders those gepale-
menwho traffic N the mere assignments Of trade
and His ideas Of ratie are TO me, sgocddkA like il
the old dntehman's ideas shout tnw-r which he =
described asteing place vewe dc Beerles lived BY
shesting one anoder, and dey calls 1t trade.
To proceed Hard Times next attacks The b.
pinion advanced sy me-, that. shaving and bro
keFsge, in aPapcr currency, produce effects ye~
~ similar 10 Clipping and eounteLieiling in a
metallic currency. lido hold this opiAion, aad
il has been either misunderstood BY Hard
Times nE mnch mgstifed, / win Try to shew ne
parallel. If ! ges for piece Of valuable pro-
Iperly c0unteFfsii coin-a thing efsno value
have lost my proper,y>entirey. II take for 4
my property piece Of coin which has been clip
ped, 10 the erient ef tie clipping, ! have slso
lost my property. II is then plain, that both
these operations upon metallic currency FRO
tire a lass eE property in Lhelelscns who re-
elect, 70 81, me Toss y 9uEyy
from the shaving q paper CURRENCY, FOR which
properiyis Fesponsiblea and hound. borrow Of
the Bank id CharlesioFn $1,000, aud that operas 4
ien is effected BY giving 70 the bank negl rpte.
- -, lovea nd rrk =
ms property and theirs, until it il paid Ire
ceiye their notes and pay them ont and they IRE L
thus added to the circulation, and the circulation
is thus $1,000 larger than il vas before. This
addition 10 the circulation will ofcourse enhance
the price Of nay property, and enable me TO sell
iifor more; Tor the more abundant nioney is, The
higher will be the price Of any Thing fer saet---
II this Sl9f0 then, continues n circuiaion m
hi me note ia bank is ped off, the price5of ny
rtqrefiFvlll be sustained. and If il is diminish,
ed. ID that s1ient NH he price of my property
fail II this $1,000 should DC bought up BY the
bank for $500, or fy brolser loI $500, then, I'M
stead Of ihe yl000inl circulation 10 kespua the
price o. my pfepeE9y there would only remain
$500 and The CONSEQUENCE would be decline in
the price of MY rfapflfy ed in plain words losa
Eefpydp.,y, dig clearly resnltinb from this shaving
Of bank pgper as Tie loss 81 properly thsr re-
suited from rltpphg and cpuateTfditia9- and I 4
/ will add that, in .any lldRment,5so these very
causes producing IAN Immense contrbciion cf +
lihe currency ata -the present climbing sacrifices
and losses If propsEiy lo be ascr5ed snd that the
causes that psssFrse them ara as iniqiitops and
| fraudulent, as clipping and coGnterleiling. 1
I hope il is nGw, understood, in what sense,
rink the effects az brokerage, and sha Wing, and
/ clipping notwithstanding are snilsr HaFd
Times, by literal contrast Of he actsi has en-
dsayoIea. 10 obscure The theory, and 10 keep lcN.
out OF view the eGeeis Of these Geis, WHICH
say equally tell upoh the properly and the pres
perry cf The rsopie4 He says.for examples, ne
Who clips dollar may lessen lis value ln the
hands Of all Who may hereafter receiFe y, per q
4 hans tbousaTd persons.' And play, dpes NOT
he who should NIKE from the mrs b. tirctssion
IsI00o with $500, lessen The yaue' OF property
ii a thousand hands likawse? Unless Hard
Times can shew that the half is equal a. the
KWhoie, and Tina it matters not 70 the ptlce olpfo-
lperiy. whether $1,000 Or $500 be ii cirruaaiions
loss viii csriairly fellow that act Ihen;exlel
Lac principle (which | exhibit il the single.
araace of $1,000 putfiEto circulation ,io Tie
circulation OF the county, (aad if lhS n
BE RICH in fegafd 10 The $1,000, il isTigh
gara ioihc whole circulation Jill 'sill
ihat lis Effects wiil'reaeh ali tie Txrsse1
the property in the faud But again,
that the more 5ankpapef IS depreeia5
sold undft par, the easier fQf him wha'iss
ed 10 the bank to purchaser t0.pay 4ls DEN
The hank and be gives the instance Of him
has borrowed 1890, ard VINO, ifthe bank fspEE
:, is deprecated SO per cent. may get $1,000 of ts
lraper Tor $500 and paw bis debt. Nov 4h{s
looks 70 me good deal Ike Iauntana mockffy
TO The poor debtors of tie bank. and q spRiisfs
with them in double sense, and keeps 9he Iwnrd
Of promise 10 the ear bat BREAKS i to the hoRe
: You cut their sinews, or bind ther1 naDq dnd
font. ana then bid them run, Tun and get Sl0g0.
: for $500 and pay your debt IN bank \ Anq Rew
pay is the debtor 70 get this $500 ~ i nos py
Tie sale of his products crgprope:ly and these
have already fallen, BY this veEy dePIqflP'isgni
: until double ihe quantity Of produeisoF pFepes-
" is required t5 get the $500 par money Or spe1
Gle, 10 make this speculation, soihateFen sis
& eeis ii. al that rate. he has ganed nolhiag 4ne
: debtor Of The bank then cant get tAls spgp sPe-
> cis. or il Be does be gives for 81 double the Fl
mount If property that be ought, andthai IN % ~
!, seem tome cne Of Hard Tines own gnod osr
rnns., Ii Is all folly 70 talk then, aboni naA &
4, debtors getting hold Of deprecated a nls
Il HI, true neiher ID theory d fact WILL leh
4 Hard Times though, Who mey gel los
le III paper and wh1usnally do get i, the Afdgsng
St hankswh iheiF vaults Of specie, o. Ehe bFekers
q who have accumulated specie % boy dePfetta-
tea paper, and who often fTauaulently deHFeclal8
5 Sd ID order 10 buy il. These gtnnemsa know
q very well-shey are knowing settling bank
u paper may be much deprecated andtu1der ,pFr,
he Ia and efoueffyS nf3 fhe