Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1843-02-10
From tie Hartford COurGnt.
A WORD TO THOSE WHO ARE
I'm ,DRBT.

| lin ,DEDIs
That portion Of the community who
are in debt, do not, fear, fully un.
derstand The consequences resulting from
The contraction Of the currency, which
the hard money notions Of Jackson and
Van Buren, have caused. We ask their
serious attention to;the subject, while
we attempt 10 show them the periIous
situation in which they are placed. We
are now fast approaching, if we have
not already reached the point Of an ex
elusive metallic currency. Our bank
notes now in circulation, represent near.
y the Same amounted specie, and we
have probably little, iCany more money
in circulation ,thHn,w should have with.
out banka, This 10 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 pracIicahiIlustration.
A farmer in one of courneIghboriug
towns bought farm in 1887. for which
he agreed to pAy $4,000. This was then
considered a fair and moderate price,
and good purchase The buyer paid
down 10 cash S2500, and gave bis note
for the balance, payable in five years,
and mortgaged the farm as security Tor
the note Five years have eIapsedsand
The note has become due. Now matk
the sequel. Since the purchase Of the
farm the currency Of the country has
been reduced 10 amount one half. Real
estate has fallen in consequence. The
farm is now worth only $2500, and the
purchase being called upon for payment
he is obliged to give up the farm g. lose
all he has paid. Hemay struggle along
for a while, but if the currency contin.
ues thus contracted, he will be Obliged
in utter despair, to deliver up the prop
erly into the hands Of the mortgsgee.-
Thus by the introduction ol The new the
ory o( metallic currency, the debtor is
ruined aud The creditor is enriched.
Such IN every case viii be the effect
Of The wretched, the insane, the ruinous
schemes oI LocoIocOism. Those in debt
will be compelled 10 pay more than they
original " contracted. Their debts 10
effect increased, Can any one fail 10
see this. We think the debtors fully
understand it themselves by this Time
il not lhs day is fast approaching, when
with sorrow and distress, which we can
not adequately describe, they will see
the fruits Of years Of patient industry g.
frugaIity, swept away by change in the
currency which compes them to pay
their debts, with just double the proper.
" which would have been required when
the debt was contracted.
And for what, we ask, is this wide
spread run brought upon the londf-
Benton, Van Buren, and Calhoun, have
declared themselves recently in favor OF
a currency composed wholly of gold and
silver Gen, Jackson, too, has lately
written a letter advocating The came
doctrine. For what. we ask again, is
this change to bs madef Who are the
gainers--lhO rich or the poor? Can il
be possible that the human mind can he
so blinded BY prejudice as not to see The
results ofsuch a scheme, Are the debt,
or class 20 utterly lost TO all that coA-
Germs their own interests-snd 90 blind
and lhough,Iess as not 10 see the utter
ruiA thst swaits them il this project is
carried OUT II they lend their aid 10
q PLAZA 60 GuiI Of certain and immediate