Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1843-01-20
From the Hartford COurant.
A WORD TO THOSE WHO ARE IN
DEBT.


DEBT.
That portion of the community who are in
debt, do not, we fear, fully understand the
consequences resulting from the contraction
of the currency, which the hard money no.
tons of Jackson aud Van Buren, have caus-
ed. We ask their serious attention TO the
subject, while we attempt TO show them the
perilous situation in which they are placed.
We are now fast approaching, if we have not
already reached the point of an exclusively
metallic currency. Our bank notes now in
circulation, represent nearly the same amount
OF specie, and we have probably little, if any
more money in circulation, than we should
have without banks This is the opinion of
the best informed financial men Of our CITY.
We cannot better show the effect of this
state Of things upon those who are in debt,
than by practical illustration.
A farmer in one of the neighborine towns.
bought a farm in 1897, for which he agreed
to pay $4,000. This was then considered a
fair and moderate price, aud a good pur-
chase. The buyer paid down in cash $500,
and gave his note for the balance, payable in
five years, and mortgaged the farm as secu-
rity for the note Five years have elapsed,
aud the note has become due. Now mark
the sequel. Since the purchase of the farm
the currency of the country has been redu-
ced in amount one half Real estate has
fallen in consequence. The farm is now
worth only $4,000, and the purchaser being
called upon for payment, is obliged to give
up the farm and lose all he has paid He
may struggle along for awhile, but if the
currency continues thus contracted he will
be obliged, in utter despair, to deliver up the
property into the hands of the MORTGAGE
Thus by the introduction of the new theory
of a metallic currency, the debtor is ruined
and the creditor is enriched.
Such in every case will be the effect Of the
wretched, the insane, the ruinous schemes
of loco focoism. Those in debt will be com
PEELED to pay more than they originally con-
tracted. Their debt is, in effect increased.
Can any one fail to see this We think the
debtors themselves fully understand il BY this
time-if not, the day is fast approaching,
when with sorrow and distress, which we
cannot adequately describe, they will see and
understand il. They will see the fruits of
years of patient industry aud frugality, swept
away by change in the currency which
compels them to pay their debts, with Just
double the property which would have been
required when the debt was contracted
And for what, we ask, is this wide spread
ruin brought upon the land Benton, Van
Buren, and Calhoun, have declared theulsel-
YES recently in favor of currency compos-
ed wholly of gold and silver. Gen Jackson,
too, has lately written letter advocating the
same doctrine. For what, we ask again.
is this change to be madel Who are the
ganers--the rich or the poor? Can il be
possible that the human mind can be so
blinded by prejudice, as not to see the results
of such scheme. Are the debtor class so
utterly lost to all that concerns their own in
terests-and so blind and thoughtless as not
to see the utter ruin that awaits them if this
project is carried out If they lend their
aid to plan so full of certain and immedi.
ate ruin-they will present spectacle, such
as the world has seldom witnessed-of q
class of men intrusted with the noble privi-
ege Of self government, and using their
power, at the instigation of a few intrusted
political partisans TO RUIN THEMSELVES
May their eyes be opened before it is toe
late!
i A SMART GIRL.-One of the Lowell girl:
lately addressed her sister operatives upon
the subject of the reduction of their wages
in spirit worthy of true Yankee. She
said.
at was against the laws of nature aud o
God for them to be confined in the pent-uI
air of factory SO many hours every day
and thus robbed of their constitution, mus
Giles, and sinews, for small pit;ance, tina
an immense profit may be made by being
who fare sumptuously every day, and rol
along in car ofsplepdor through our streets
reyeling in luxury and extravaganza, ant
at the same time protesting the religion 0
that meek and lowly Jesus, who went aboh
; doing good o ye pharises, hypocrites
hn,u an We ana the IL MI, aiior, &C holl y,