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

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sired be should do So d many or Us are anxisif, ID
examine the enaetmenas Of this energetic ebdekE
And does Fair Play reals suppose o. hope hex III
be ever able 70 fnd - tie Virginia LegislAEste
sgeien number Of fools 70 pass similar enaetmtsts
II be does be will certainly be disappointed Iish
certainly Faif Play % evil, hat sincerely hop Sc
mas never live TO soc that day however long bid life
may be protraeled.
And slser III. what good has this mosi exeeileut
law done for The State Of Maryland Fair Play
ought 10 have been armed With his nroof II he t.l
e Us % be guided By this example. He ouge, 10
have satisfied rs sll there was Al lhis time az The
State OF Maryland plenty Of money for the .lekti-
mate purposes Of isp people, seeing that the ususer
oeksjobbtrs. swiGdlefh brokers' and savers, have
al q one sweep been bsnsled from lhe boUndkfies
ofthst State. But Fair Play, il il sol Are thee6,
pie OF Maryland At this moment more prosperous
than lhe peDpleof your own county Clarke
The Metropolis Of That Staie.ahe city OF baltmare,
has Tor years been ne principal market place re-
a. Ss,z5 ef barrett we are told tIst since III En-
aetmsnt Of this Law, (which we suppose is skont
one year old, thousands nay millions IL dollars,
are now to be had 10 Baltimore At legal interest y
/ ell them engaged il business, whether erea{ 81
small, 10 enable them 10 compete IN he markel.for
the purchases Of our produce. III plenty Of mohey
and comprttion has had the effect OF affortIine 9s
but three dollars and sesenty-hse oents for our tr,
may heaven defend Us against such blessings. q
Dut NC are lOlu ~ AR flar that before TINS law,
bsnishing the shavers from Maryland the merchsnts
Of baltimore were n The habit Of giving ~ per cnt
j per month, Or la per cent per annum Tor pooey
70 keep up their Bank credit. This iaformatoe il
seems was obtained from the newspapers, and Iby
eonyersing with gentlemen on that subject Il IS be-
lieved thl he gentlemen who gave this information
iutended Il Is mere quiz. The informatons Vas
certainly incorrect, for IN Fair Play enuefa-
tou Of penalties be hiss not stated any additional Pe
naly upon usurers;-they then can loan money 81 ~
f.tre ~.
months ago-and whyIis il now done ! But since
the brokers and shaSers have been banished & ON
Mary land, they must have fne times IN Batimort;
surely ell bank notes Sre at parsn that city BIT,
Far Play, Is this the caael Do you not know, tho
you may conceal the Iatt, that there is 1t this very
time as great discount upon foreign paper, SIS has
been at almost any time heretofore, except during
that time when the Banks Of Mary land paid speeie
and The Bsaksot Virginia were in state Of suspsn
Sionl - Es
i Yes, The merchants Of Baltimore are now le-
celving from The merchants Of Virginia, pay
mems 10 Virginia paper al discount Of from
one 10 TWO per cent. except indeed from such as
sue, In doubtful circumstances. Of whom they
are glad 70 receive sny thing. Thus every meT.3
! chant'is Obliged TO torn broker. and instead Of
lsssening the nhmberof this ocious class, i. has
: been increased an hundred fold and il is be-
lieyed TO- be susceptible of satisfactory dempn-
sirauion that if this business entirely leftto
l1he management oil huSe who made il their sole
= occupation, discounts upon foreign paper woald
be az lower rate han they are at this moment
10 Baltimore Fair Play exnlts almost indc cent.
y al the admission of Hard Times Thai money
+ is the STANDARD Of value, and 10 exchange FRO.
perty' And now, indnlgens reader. Of what
use has this admission been 10 Fair Playa He
himself has surrendered has given up his ,rhole
iAsory, whieKadmils that lie shsvers do pse mo-
ney as The measure lwhy did be not say he yard
stick) to ascertain the value Of a bond oil bank
note which :hey wish 10 purchsse' His only
complaint is that they use this measure Fith a
vengeance. | suppose their yard STICK is 100
long And pray now, Fair Play, when you
make the purchase Of any property whatever,
no matter what, do yen not purchase as cheap
as YOU can, and use The very longest yard
stick You can lay your hands on and Wheh
4 you SELL don't you get the best price you can -
IL you do not do this all that can be said is, thai
you are one of i thousand. The truth is Fair
Play might almost as well attempt to alter the
laws Iof nature, as the laws oftrade. He is Ger
iainly engaged in Almost forlom and hopeless
task and he had better give i over at once IS g
bad job.
After passing through pretty long rigmatole
he comes to the allegation that Fair Play had
heretofore stated and be now repeats without
the fear Of contradiction that the effect of shay
ing upon paper currency, (and he says bonds
and no.es are currency,) is precisely similar -
the clipping metallic currency In illustrator
Of this bright idea, be states in reference 70
brokerage, that bank note goes abroad as so
much cash. and unless II is malnt aimed stit val
ne, these who have notes in the Bank must kuf-
fer The loss, for their paper must be redeemed ~
the same bank paper, or By cash and their bre-
perry is bound for ii, If il be possible, lgt d
Try to analyze hhis theory which is asserted Wih
so much dogmatism. Fair Play says Tho shay
ing Of bonds and notes is precisely similar 70 the
clipping Of dollars II is not So because dol
lars are all Of The same and uniform value, aud
Of necessity must be re ceived in that way, hui
E all bonds and notes for siInilar amounts are not
Of the same value Ought the mole Of Hard
Times for $1,000, which is about twice as much
as he is worth, sell for as much in the market as
The note Of one Of Fair Plays rich neghbors,
who il is known is able 10 pay, and will pay the
whole amount on the very day upon which il Is
due ! Is here not an intrinsic difference in he
/ Evalue Of the Two holes Hard Times maY never
be able 70 pay more than one-half Of his debt,
aud the person assigning his note may himself be
in doubtful circumstances Is il 10 be SexpecieG
that any man in hissenses will pay as much for
/, the note Of Hard Times and run an these risks,
! as he will .oflhe note Of one OF undoubted credit
: and punctuality And IS il not perfectly fair
and consistent lhevery rule Of justice, that be
VINO tuus All tneAe liSha, enouiQ pFoflQe3 TOT a
: pretty good profit, and in the first instance make
: pretty deep cut ppen this doubtful de5ts-
He who clips dollar Tpay lessen lis valde %
the haRds Of all who may hereafter receive it,
perhaps acknowledgements. He who buys a
debt may give as much for il as il is worth Il
the Tine and there is an end to the transaction.
Can Fair Play deny This position I
Now, let Us Try The depreciation Of Bank paper
according 10 this writer's notions of IL "A b6nk
mole il seems goes on Of Bank IS so much cash
and unless il is maintained al its par value those
who have notes in Bank must suffer The Loss, for
heir paper must beredeemed BY The same banl.
paper OF By cash, and their properly is bound for
III The yery reverse OF this Is the fact The
I more bank paper issdepFecialed and soil under
I par. the easier for him who is indebted 10 the
Bank 10 procure il 10 pay his dehtto the Bank
2 ~ give an example LET Fair Play borrow
from the Valley Bank al Winchester Il, coo And
s suppose The paper of that Bank, before hss note
! becomes due, TO be depreciased say so per cent.
\ Is i not evident thai Pair Play could purchase
I D, 0001ofihal paper, Cor $500 w4R which 10 pa :
his note al maturity. Its believed thai he an
nals Of modern inanciery Furnishes no parallel
% iais transcerdanG nonsense Of Fair Plays the
I ofy It's moi worth while to follow this Finsn.
I leier anyfarther through IEis paragraph.
; Hard Times, in Bis FIRST essay, 10 use 1 fern
( Of some dgnlty,) 10 reference 10 The shaving 81
: paper, says that perhaps il were As we'll 10 81
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