Litchfield enquirer. [volume] (Litchfield, Conn.) 1829-current, 1843-03-30
From the Connecticut COur0nI.
SCENE IN THE OFFICE OF THE COM
MISSIONER OF THE SCHOOL.

SCENE IN THE OFFICE OF THE COM
MISSIONER OF THE SCHOOL
FUND-TIME, l643.
Present, the Commissioner, and a Loco Foco
Farmer aoho had called to pay his interest TO
the State.
Commissioner. Good morning Mr.. A.
arm very glad to see you. You are always
punctual. which is more than can say for
many of the State debtors these hard times.
But such men as you won't allow our schools
to stop for want of money.
Mr.. "A. To tell you the truth Mr.. Com.
missioner, if The schools do not stop, it will
be- no thanks to me another year. have
found it very difficult to raise the interest
on my loan for this payment, md now I've
Il proposition 10 make you. The State you
know has this mortgage on my east lot for
$1,000.
Con. Yes sir - there is such mortgage.
What is your proposition You wish to
pay the amount due, and take quit claim,
suppose
Mr.. A. Oh! No Sir--by no means.
wish to know il the State will lake the lot,
and give me up my bond.
Com. Take the land You surprise me-
The School Fund does not want your land {.
That was only taken as security.
Mr.. A. When borrowed of you $1,000
and mortgaged the land rs security. could
have sold it for $2,O00-but not Wishing to
part with it at that price. concluded to ob.
tain loan. and keep the land tall could sell
II at better advantage. But now find un-
der this specie currency system, for which
we have SO long been fighting. that it will
not bring $1,000. think shall have to
give il up 10 the State.
Com. have no authority to give up your
bond unless obliged to do So But whv are
you so Responding! Perhaps your land will
rise tn its former value. You can then sell
it and pay the debt.
Mr.. A. Why, I suppose our party mean
to 90 for specie currency. and against the
banks. find that doctrine laid down in nv
paper, the Times.
Com. Certanly-that is the doctrine of
many of our party-especiaIly Of the paper
you mention.
Mr.. A. Well sir, is there any probable.
ity of our success.
Com. OF course we shall succecd-the
ma rch Of Democracy is onward.
M. A. Well now Mr.. Commi ssioner you
are good lawyer and understand money
matt ,rs, and wish you 10 tell me one thing.
What will be- the effect of this specie currcn.
cy system on the price Of property Some
of the raE crs say that 1t will reduce the
price of real estate and produce. Is this so
Com. IL the currency il reduced to the
specie standard, the nominal value of
property must of course be also reduced in
the same proportion. but ii property and Wa.
ges are reduced, all other things will be re-.
duccd in like manner, and of course YOU will
not be injured.
Mr.. A. "All other things will be redu.
ced ia like proportion !" Do you mean
that my debt to the State will be reduced
If my land falls one.half will the State re.
duce my bond TO $500.
Com, That OF course would be absurd (!
Contracts cannot be altered by change in
the currency. Your bond will still remain
due.
Mr.. A. How then can it be said that all
other things are reduced in like proportion,
if my debt remains tho same Then as to
contracts no: being altered, shy Sir that
my contract is changed. promised to re.
pay the school fund, the 1000 you lent me.
Well ut that time that amount was one half
the land which murtgaged, as security
Now should be glad to have the State lake
the whole lot, aud release me. But no, the
$1,000 is worth more than the land. Is not
| the contract altered
Com. l, my duty TO see that the State
incurs no loss.
Mr.. A. Well. now, Sir, ! will tell YOU
whut candidly think of this specie curren.
cy. 1t may be very we'll for those who
have lent money. hut It will ruin those who
have borrowed. When borrowed this money
sixty bushels Of grain would pay the interest.
Under this specie sy stem il takes 100. Then
my east lot would have paid the debt md left
me $1,000 besides. Now it will not bring even
$1,000. have studied into this matter a
little, for having the money to pay brought
it home to me and have come 10 this con.
clusion shall pay the interest if possible
as well as the principal il it takes all have,
hut shall oppose this hard money system.
A plan which operates as this does won't DO
tor this country. lisa little too much like
! making 7" the rich richer and the poor poor-
en-" and fear it will ruin me aud all those
who are much 10 debt. Good morning MIR.
Commissioner.
GREAT REFORM IN TUE NATIONAL EXPENDITURES
WINE PROMISES REDEEMED Tho average amount
OF expenses under Mr. Van Bnren's administrator,
Was S36O0O,O00. The appropriations tnF the current
year are less than @i9OO0O0O. Here then is saving
] 10 the nation Of Si7.0000O0. What n comment on
I0c0 loco economy aud wing eTfH1eegdNcs!
RHouE lsEANp-The late DOPrse movement in
that State has cost the state upwards Of Rnety oH.
sand dollars which sum 10 TO he taken from the
hard earnings Of the aFmeEs manufacturers. and 10.
AOVeEe 0 the State By way Of direct taxation. Chann
cay cleveland fhsleVed and encouraged the spirit
Of al thess pFoesc6ines Il such man I'll 70 b On.
trusted with power q Do evil toeanolher year
% We Understand THAI in Ne case Of Asa CAai
ve the Norwich and Worcester Rail Read CnmpNMy
the Auditors have dacdsd that Mr. Child is indebted
10 the company eight fAaaaan9 tpa handgs5 dollars.
L vii = lnrallsclea fhas NJ Grid claimed thu