New-York daily tribune., 1843-08-24
.1I.urv. The Evil and the Remedy

! OF I0Ucn pFdCLiCdl I'Ao>
more refer to its positions.
We do not quite agree with its fundamental
proposition that Money is measure OF value
and that only. Unquestionabiy the most ire
onent use of money is to measure value. But
when a man borrows $4,000, does he merely
borrow something to measure with Does nc
not rather in effect borrow real value though Of
what precise kind depends upon his own choice.
/ If he wants to buy d farm with 1t, then he IN
substance borrows the farmland so if his need
be buildings, provisions, whatever. He does
not borrow something wherewith to measure the
sums due his labo.ers, &c, but the actual means
Of paying them, exactly as though he borrowed
ten thousand bushels of Wheat, and agreed to
pay seven hundred bushels year for use until he
could return the grain.
Yet one practical deduction of cur author from
his premise is sound and Imperative mean,
his sweeping condemnation of Foreign Loans
An individual borrows money-and why Be-
cause he wants more Labor, or the fruits OF more
Labor, this year, than he will be able to supply
himself; so he borrow of him who possesses the
fruits of past Labor, and agrees to repay with m
terest at future time. But Nation should
never borrow, should never run IN debt to other
nations, since every nation has always an lIn-
mense amount of Labor unemployed or mlsdl-
fected, and it has only TO better organize and d.
rect its Industry to produce that which II needs,
or something which will procure it, without run
ming in debt for it to other nations For instance,
! cI,o
year in Canals and Railroads for twenty years to
come, and the common recourse is TO run oil to
Europe and borrow good part of the sum-
This is BETTER If the works are greatly needed,
than to leave them unconstructcd; but 1t would
oe far better than either TO make our loans al
nome, set our own idle people at work in raising
the provisions, making the iron, manufacturing
the clothes, &c. which will be required by the
laborers on the public works. and thus render
those works a source of increased activity and
prosperity in every department of useful indus
try. There is no more need Of going to Eu.
rope to borrow the money than OF going there
to hire the laborers while thousands are famishing
among us for want of employment. But how
can we prevent our Stocks going to Europe, even
If originally negotiated in this Country? Our
author justly answers, By establishing and main
tanning low rate of interest, and eradicating
Usury, not by afixing penalties, but by so ad-
lusting our Monetary System that man who
has real value to give or pledge as security Can
always obtain money for or upon it at the low
and uniform rate of interest. We accept all
this, and add to it, BY so adjusting our CONNER
cial intercourse with Foreign Nations, By care
fully discriminating Tariff, that we shall preserve
nearly even Balance Of Trade, neither buying
considerably more than we sell nor selling more
than we buy, and thus preventing those great
periodical vibrations of Specie, the common basis
Of all the Currencies of the world, which do In
finite mischief to the nations which part with
their bullion, and no real, lasting good to those
which receive it.
We shall recur to this essay on Usury ;
again meantime we commend it to the thought
full and discerning.
Escape of Mr.. Bourbon from New South
Wales.
Some months since we published the fact Of
the escape of this gentleman from Van Dleman's
Land, but were unable ut the time to state the
manner of his delivery, as his family were in
Canada, and the publication of the facts then
might have led to serious cmbarrassments. Mr..
Bourbon is now in this City with his family, on
his way to France, and gives the following ac-
count of his escape from bondage:
1t will be rccolected that he was Clerk to the
Governor, and on or about the 23d of October,
when he had been about four years prisoner on
the Island, he was ordered TO transcribea a number
of letters and papers to be despatched to Eng
land. Among them he came across one written
by Gov. Hughes and directed to a person in Bris-
tol, stating the manner of the escape of convict
who had left the colony very mysteriously. 1t
appeared from this letter that the Governor had
been bribed; and that The convict sailed TO Eng
land in British ship in the employ of the Gov
eminent He had no sooner read the letter than
it was called for, having been handed to him by
mistake. He returned it, remarking that he had
not read it, as he had not come to it yet The
success of this prisoner determined him to make
an attempt to escape, which he did as follows:
| About two weeks after this occurrence, Mr..
Bourbon and a companion, who was assistant
clerk, started early in the morning from the Col
ony, and the first day walked nearly 20 miles,
secretng themselves among the rocks along the
shore at night The next day they procured a
boat, which they hid, and for week watched for
vessel, trusting to chance that it might not be
British. AT last, with the aid of their boat thew
made out to get on board an American brig, by
which they were taken to Coqumbo, from thence
to Valparaiso, and then to Rio Janeiro, where his
companion stopped, and from there in the brig
| Russia to New-Yorh.