New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1845-12-31
Labor md Currency.

The dibany argus has leader OF column, pur-
porting to show that Labor is the Last Thing to
Rise and the First all lin any uctuation OF Pri-
ces Necessity Of a Stable Currency.'-The fol-
lowing is its most significant paragraph:
under the strong protective features of the Tariff of
of A. the profits Of the manufacturers at once advan
ced and richly remunerative. Yet labor DID
feel the full swell Of that tide until nearly two years
after It's passage Their wages have been nomnay ad-
vanced but it is more than neu,razcd by the higher
prices they have had pay for other necessares Thus
though the aborcr may receive 81 where he before
ccived 90 cents yet in truth he has gained nothing as
the additional pcc of other articles which he uses III
his family, eats the apparent gain Yet should there
be revulsion in manufacturing tomorrow, Is II not
clear that The shock would first fall The idbor1' His
wages would either be cut down. or he would be dis-
charged once These citations show that from the
very nature of things Capital Is well protected by It's
own inherent power-whiie Labor is almost completely
at the mercy Of the capitalist The aborer must have
stability in the currency the vital element OF his pros
perty Without this may live but he cannot thrive
The effects of revulson of the currency in throw
ng him out of employ for few months, may Keep
him behind for years He wants to work not 100 days
of the year. but possible 800 days This steady cm'
ployment, under just government where the taxation
is light il is in our Republic, may be expected wherc
there the currency is sound and stable The changes
caused by the law of demand and supply will st'i affect
his condition. but he will be fortunately, as he should
be, independent OF those caprcious changes caused
solely by expansions OF the currency, and which de-
range prices as our history has shown far more than
the actual wants of demand and supply.
Having thus set before readers the gist of the
Arguss article, we respectfully solicit of it answers
TO the following questions:
l. We understand the Argus 10 maintain with
Messrs Polk and Walker. that the true means OF
rendering the Currency stable and benefiting the
Laborer is By aJolishinS all the ProtecttUc features
of our Tariff and dirorciag the Government from
Banks-do we understand Alright!
g If the divorce is to take place at all, must il
not to be of any practical value, require the exac
ton of Specie infexibly nj every Custom House and
Post Office throughout. the land Does not Mr..
Walker truly maintain that the Independent Trea-
sury without this Specie Exaction would be pal
pable farce-an empty mockery and delusion
3. If the collection and keeping Of the Federal
Revenue in coin by means OF IN Independent Trea-
sury be essential to stable Currency and steady
employment for Labor, is it not obvious that the
policy ought TO be pursued by the State also
And if not, tchy notl
4. The Argus says that Wages hare "nominally
advanced" and intimates that Labor has felt the
full swell of the tide for some time past but com
plains that it did for while after the Tariff pass.
ed. But Secretary Walker asserts that the Tariff
has not al all raised Wages, but only the prices OF
manufactured articles. Which are we TO believe 2
And will the Argus ascertain and state whether the
prices of articles now mainly made here, which be-
fore 1912 were in good part imported are in truth
higher in the average now than when imported
;. Does not the Arsus's own statement show
clearly that Labor is doing fairly and that the
changes ii advocates will bring CONFUSION, derange-
men, and loss of employment, in their train And
would it not be better TO let the Tariff and Sub.
Treasury alone until one Of these "capricious
changes shall otherwise occur. so that Labor may
not fairly charge on these measures the loss of EN-,
ployment and bread
6, Does the Argus mean to intimate that the late
rise OF Grain and other articles OF Food was caused
by our Protective Duties either directly or indirect.
ly7
We hope the Argus will answer us frankly
Let US understand this subject