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

we writings oil jean bapiiei4 llgs+ VINO We are
leld is writer upon poli,ierl ECONOMY q grea.
Itnthori,y. Hard Times has never before heard
~ this writer upon political economy, Jean
espliste Tay. nor indeed hai be ever read any
l bf them. u he had msde these suihors his
I5tudy, he probably would n6l have understood
hem, they might have turned his head. and IN
dpced him. As they have some olhsrs. 70 become
ne rpn-mad author Of some foolish finance
theory This author. 7ay. i quoted pages 20,
!6i ;sit seems, be says, We must never lose
fight Of the maxim thai products arc ultimately
bought with products, and lie gives M exam
pie. ssIf buys bushel Of wheat. for 4 dol
isr, with that dollar he buys s8von pounds d
kpnee, now the actual exthahEe here is, that d
he wheat for the coaesH rell then. Hard
FINES v ID suppose. thatn lhess seven pounds
pr coffee had afterwards been exchanged for .
goose, il would have been an exchange Of the
original bushel Of wheat for goose, and so on
hd lnhnltuIn. Whenwill learned men talk like
kisn Of common sense; Surely it must have re
quifed an amazing effort Of the imagination to
bafe conceived, this learned absurdity, this Ella
poraie nonsense. This Thing looks more like d
fonundruH, than any thing else-it was intend
bd BY Monsieur Tay as puzzle for children,
Father than any thing else. But no doubt Fair
Play will takesHard Times for goose, for not
feeling more reverence for this high authority
pni not yielding at once 10 The phase Of its ludi-
broHs illustration.
After this, Fair Play compares the currency
70 the public roads, BY which we travel 10 ex-
change our products and gives Us specimen
pf his book learning, by referring lis 10 the Be
/ Yoin Arabs, who levy toll upon all passengers
through their territories. This historical refer
fnce is happily introduced, as il relieves the
iednm Of taking about brokers and shayerss--
He has found better iltu tration than hi.
lsyard-stick, his bushel, or his pound weight =
The analogy however between money and the
public roads is not perceived. II IS probably
Ike The lrishman's wig, either entirely above
or below'the comprehension Of any human be-
ing, II is stated with some appearance Of exul.
tation, that Hard Tines does not deny that mo.
+ pey is Nsed in extortionaie usury vi a, be sta.
I ted was, fhat as the BeFryyille resolution left
/ i 10 be inferred, that so soon as present diff
4 tcnlt times had passed way. money would re.
! turn 10 IFS legitmate channel, il was some con.
/ ISOLATION TO hope, that the evil woud be buttem-
/ pbrary.
\ The 9th resolution Of the Berrysille meet /
/ lng,is defended with grest earnestness This
4 resolution proposes to make alpsrtceps criminis,
/ ! competent witness. The question is NOT as
/ Fair Play would wish Us 10 believe, whether the
\ Witness + TO be a gamer Or lossx By the G
vent Of the prosecution, but whe:hex he him
self was not party and cpnsenting 10 tae> viola
Zion 81 criminal law.
Hard Times makes no .rreiension 10 1aH
earning, but lie may affirm, if no person We Re
found to sell bond or mole at discount, no
person would be found 10 buy oAe therefore
| me seller Is as mueha party to the yos lion Of
he law as the buyer, and upon every principle
Of common sense, ought not 10 be permitted 10
testify TO his own crime, and if he should even
DO so, be ought not 10 bebeIieVed. That Legi.
\ Iative body would be blood thirsty indeed, who
would seek 10 punish crimes BY permitting az
accomphce 10 be witness.
| Ills true that Hard Times is much concerned
for the owners or bank slocks and State stocks,
which are below par, las they all are at this
lime J aud still links il would be hard TO de.
/ Prive them Of tbe powerof selling them in time
4 af need, al the best price could obtain. He il
/ told, be may dismiss bis apprehensions on that
score, that If Fair Play laws should pass, theirs
/ you'd be no necessity for any sacrifice in these
\ stocks. This is really good news, and If Fair
Il Play willgiye good security that this viii be
4 the certain result, will not only preach his
i law 10 every congregation can collect, but l
4 viii give him my bond with good security 10
/ pay him Ef00, Virginia currency, as soon as
/ this desirable advent shall come 10 pas.
4 II is said that, If MOI ey can no longer be
used 10 brokerage and shaving, il will be al loan
4 for per cent, or invested ia other property
and thai The holders Of good stocks {what stock.
are good al this time y will be able either TO sell
Them at par, or il moi they can raise IoaI
\ upon them. Well then, the State Of Pennsy l.
\ fania owes a debI 10 stocks Of aboutlhirty mil.
Hons Of dollars, and the State of Maryland :
/ similar debt of about fifteen millions; this i,
\ BOT oSer-rated; and other States might be men,
Toned, even old Virginia; HE stocks, Of The twS
krst mentioned States sdl al this time for liltls
more ihansfifty cents in The dollar, that is fol
/ pne-half Of the nominal amount. lfFair Play
4 Jaw should pass the Legislature OF Virginia
these stocks are all 10 be lifted up 10 their pal
value al once. Is there one man IN this WorlC
30 stupid as 10 believe this. or all the extra
vaganza Of Fair Play, this il The superIatiye 81
Suppose holder Of these stocks were TO borrow
upon their pledge, the day or payment comes
ii that day viii surely eome-the person whit
leans this money offers tins pledged stock 70
sale, and no body is fool enough 70 bid Sthc pa
value, then no sale could be made. because
sold beiowFpaF, thecurFency would Re clipped
according 10 Pair Plays theory. and the lende
Of the money upon theEsecurity or The stocks
never could collect one cent Of bis debt. Ii
H greater folly than this, has ever been offered 70
public appreciation, Hard Times has never seen
sr indeed heard oft.
But what will Fair Play do with bills or ex
ehanges We know that they, almost at al
Zines, are either above or beiot par. Nha
viii he do with them His theory would sweel
this whole 81 stem, so important 10 all nlercan
hle transactions, from The face Of The earth a
one single blast. The freight and insurance 70
1 the transportation Of specie from New York /,
Liverpool, or London. i ge1tralIy about eish
per cert. When merchant can purchase BIZ
On either OF these places 1t premium .
Il eight per cent he will prefer the doing so, Il
taking HE specie out Of the banks and shipping
4 4sat the cost Andrharges Of eghtPer cent, We
4 Fair Play would STOP this business: because, ae
eofdiag 10 hi4 theory, this would BE- ''clippinI
4 the currencyp
I. To bring The matter nearer home: when III
merchants Of Boston are largely indebted 10 tn
merchants Of Baltimore, lie merchants of iii
latter place win sell bills on Boston much below
II par, thereby saving the trouble and expense D
I travelling 10 Boston 70 make The collection, ami
II converse, ifa may deal ina little Latin, whei
Il he Balance Of trade Is against Baltimore, an,
\ The merchanlsiof that city are indebted 10 ID,
Il 1nerchanis of Boston, bills aPcn The latter plac
i win sell Il considerable premium 10 save iii
i BsitimcTe MERCHANT theDexpense and trouble q
/ travelling 70 Boston 10 pay bis debt. This RAJ
z. cfexchange depends uppn ne balance Of trad
as il may be Al the lime, either in favor, cr !
gainst either place.
4 YET all this scpmmercia. convenience. SO IS
\ sen,ial 10 The success 81 al trade and commerce
4 Far Play S willing and anxious 10 a1nihilaIe a
Z one single blow be really j. The very genius o
4 destruction. But amIeisgusied with the sub