Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1843-07-17

me farm.
We copy the above long money article from the
New York Herald, Notwithstanding ITS general want
oil interest To many of our readers tor the purpose
OF showing the fsllucy Of It's reasoning We have
always held the PAPER IN contempt, having seen
that II had no trait redeem it from the foul pollu-
lion Of It's editorial columns. we have there lore
ieIi disgust at the commentator of IT'S money urii.
cles thai we have heard from business men and
editors, hoIh east AID west, Tho ought To have e.,
ken a broader view Of business, aud i,s Uses than
that paper has ever furnished.
WHAT are the ahove remarks bat the exploded
"hims and vngarIes Of a shp-shod. our.ar.eIbuws.
cast Cd broken Wall street brukerl Wo have M
objection TO the facts forth relative 10 the Gov
eminent loan' IN the first paragraph. They are The
mere calculations that a school boy could make as
we'll editor, but if tue school boy could not
draw more sound deductions than sumo that are
drawn in the paragra Ihs following them. he would
reflect no great cred II on his IeacLcr
The present condition OF the government stock
may be assumed fixing the real present or snppo
sed value Of money IN Wall street. ct IA London
~
ou this country, II iakea The Herald justly Ip-
poses. with the expectation that 1t viii early fall
InIO foreign hands The rate of interest Tor 10 or 30
years, # es pecIed To- be refined in first hands,
would be Predrcaied upon the presumed average
for the given TINS; II with the strong expectation a.
ca y foreign sales Of it, II was taken with Jew
to realize much possible on the purchaser.-
Although ser 10 tb.t
ney should in the next ten years, fall below 5 per
cent The true fnancier and statesman OF experience
aud expanded views will regret. should the Time
appear IN this country again. when money viii
command six pr Ceut. Past xpericnCe teaches
us that money has not been worth per cent and.
observation, even by the most superficial, will
show them that ia the general reduction of prices.
money should be, as II has been, one of ihe first
things to fall in annual value. It requires no pro.
Phet or much financial acumen 10 see that where the
avlis Of capital are small profits reduced, an con
sumption cuTIaIied, money wul command lover
iales. 1t is not poverty Of means, more Than ex.
truvagunce' That raises The annual price Of IN ney
! ! our mO"ed resources continue the same lh,y are
now aud wesupPOse money 10 continue at 1876 The
prospect is mol gloomy one, but the contrary, for
The country however much New York Spectators
may regret it, The great field Tor acrual and
productive imProvemeni,rnyulyIng inyeslmenr Is in
the west. and the now 50 situated that with
average crops and the ECONOMY that is maniled a.
Rong her people, she will have capital enough with
the unemployed surplus of the east that Ought 70
healthy slate Of Irase 10 he sent begging for sale ia
veslments. Tho whole eye Of the Wall street VII.
ter is turned toward investments in commerce, and
nothing else, rs the narrowesi eyes Of New Workers
may be exported To be. Whereas New York con.
iarns bot 100000 Of the 100000 Of r!,e pea, e
that uhabr Ibis country, and we know Of no pecu.
liar privileges that small 1.-THE have to drain and i'm
P,versh the 1900 900. that they may lord it in
palaces. The reader will have perceived that the
generous nature" Oi the existing Iaiih is set down
as The reason for The low price OF money and the
stognalIon Of trade. On whom is II onerous9 The
handful Of Wall street money sellers who. were it
reduced, would sOon roll in wealth two per cent
a month, from the importers and produce dealers,
while they in turn wO1ld feed fat on the pro- Of
English fabrics, the manuf curers' prices Of which
the western merchant or consumer could not know
ond purchase Of the same time the products OF his
farm az price lh would leave him beggar-
The high price Of money or role Of interest when
used ~ commerce CONES of the producer or con-
sUmer or both. and eats by lsr the deepest mro
lhose 10 the couutry where it Is paid. The reason
ing that the operations Of the tariff have been TO
limit the purchases for cush by the farmers Is equally
faIlacOus with other saws and sayings Of tbs
same wrirer ln 1871 2 The tariff vas at irs mini
mum. or fell fifty per cent, produce fell 50 per cent
woollons did not fsll 10 per cent. In 1928 the
tnuG wOOlleGs was increased so per ceut-ihey
fell so pei cent while the groitsllple in the north.
wheat, under on immense crop. hes risen nearly
100 per cent This is depriying the farmer Of the
means 10 buy with a vengeance
II is true tiat the debt Of Tie west TO The east is
nearly Iiqu.jaicI aud the snrIl remainder is fast
that the means sfgrlufying the wants
81 the people ere increasing by their economy ond
industry; bot 10 is not true that tho lauG checks he
dovelopemsnt Of sound trade. Without %. tho same
Indebtedness 10 ~ York shat made the resort 90 the
Bankrupt law necessary by 500 out Of 2jO6 com
mercial msa 10 Illinois aud proportion somswha
lee In other Smes. would again occur. and the
great West with an increase of population sbd the