The North-Carolina standard., 1843-10-11


of living He buys fine carriage and horses,
and a piano-he carries to the garret the old wal
nut furniture, and marble and mahogany fill its
place. When l go to see him, instead of the old
Bald-face or AppleJack, drink wine Now, if
this does not stimulate me to expend more money
than can afford or used to spend, my wife and
grown sons and daughters will With less pru-
dence than l have, and more sensitive feelings,
they will not rest until they have stimulated me to
improve my style of living. In this manner it
often happens that one extravagant man in neigh
borhood ruins half dozen families They stm-
ulate spirit of discomfort This is sufficiently
illustrated by what have just said. They stimu-
late disposition to speculate-to gamble in every
way and to render men dissatisfied with moderate
gains This alone is an evil sufficient to outweigh
all the advantages Of paper money, werethey a
thousand fold greater than they really are The
Banks have stimulated labor in England until
they have probably the most hard-workng popu-
lation on the globe. But who reaps the advan-
tage of this2 Ninety-nine toll severely and live
wretchedy, and the hundreth man receives nearly
all of the fruits, and fares sumptuously. And the
same state of things is fast approaching in this
country, and will be fully realized, as surely as
we continue our present banking system.
The raising of the price of labor and property,
produced bya large issue fpaper money, has al
ready been touched on; but as this consideration
has perhaps had more weight than any other a
mongst honest, we'll meaning people in making
friends to banking, think it will be we'll to add
a little more on this head. Suppose England
were to add to her already excessive paper cur
rency enough to raise the price of her manufac
tured goods to double the present rates The ig-
norant British manufacturer would no doubt be
delighted "Ahr' says he shall now get
along swimmingly. My broadcloth, which
have heretofore been selling at three dollars a
yard, will now bring me SIX and at that rate shall
soon get rich" But what will the one who is in
the habit of buying this broadcloath do in this E.
vent? What will we of this country do, who have
bought most of this broad cloth? The American
merchant carries to England cargo of tobacco
and wishes 10 invest the proceeds in broadcloths
to sell in this country. When he arrives in In
don or Liverpool, he finds that the same cloths
which he bought last year at three dollars a yard
are now worth six. AS he knows that, as in
France, Holland, Germany, &c. who have not
added to their circulation, he still buy cloths
as good as the English at three dollars yard,
he will sell his tobacco in England for their pa
per money, and with it he will draw specie from
their banks, and with the specie he will go to
France, &c. and there buy double the quantity Of
cloth which he can buy with it in Engl land. Is
not this plain common sense2 And in this state
of things how are the English people to sell their
goods, or to keep their country from being drain
ed of their gold and silver2 And if we make pa
per money enough to raise the value of our cot
ton tobacco, flour &c, double their present prl
ces will not the Englishman play the same game
with us2 Will he give US for any of these arti-
cles double the price at which he can buy them
elsewhere? We are not the only people who
raise these things. The Englishman is not oblig-
ed to buy here Admitting, for arguments sake,
that we should be benefited for a short time by
this rise of price, we should be ultimately greatly
losers by it. Look at home. Whenever from
short crops, or any other temporary cause, the
price of Carolina and Virginia tobacco has been
considerably raised have we not seen that the
Western people have gone to making tobacco?-
And have we not seen tnaL whenever LnlS HdS
been done the price is Immediately brought down
and continues very low for several years? live
can be made rich by manufacturing old rags into
paper money, in the name of common sense let us
not go to work in piddling way about it. We
have the rags in abundance, and machinery ready
sufficient to make in one weeks time, every man
woman and child in the United States worth a
million of dollars piece. Mississippi tried the
experiment Go and learn how it resulted there
Ask her citizens where the Banks which made so
much paper money for them now are, and how
much richer they have been made in consequence
of it. If you will consult the experience of Spain
on this subject, she will tell you that nation cam
not be made rich even by gold and silver money.
Spain was once the richest and most powerful ma
ton in Europe. The King of France was her
prisoner-she could throw the whole of the Brit
ish kingdom into an ague fit at the thought of a
Spanish invasion. Columbus gave her the gold
and silver mines of Peru and Mexico She had
to send whole fleets of ships every year to carry
the treasures home which she derived from these.
And see the result HER PEOPLE CEASED TO