Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1846-09-11

OlNE Us DANkS AND YOU SHALL HAVE HIGH
PRICes-was the clamored doctrine of Whigge-
ry, while the paper machines of the old regimen
were wasting their last sands in Al and '42.
They kept up the cry, and finally gained in their
stead the present batch.-Cia. Adu.
This declaration goes the rounds Of the Loco
foco presses about four times year. ltis time
to check itup. We edeny that any such assump-
ton was ever put forth as a Wing doctrine. 1t
is the coinage of a Locoloco brain. What the
Wings have always said and what they still say,
is that, if you strike down the paper currency
and conine us to an exclusive metallic currency,
as is proposed by Tod, Tappan 81 Co., you will
inevitably bring down the price of labor as well
as the price of produce, although not always in
the same ratio. Those know who have exam
ined the matter that it is impossible to provide
for this country a metallic currency equal TO its
wants, the present demands Of business, or the
present circulation of paper and the metals.
Gross as are the absurdiues they occasionally
advocate, Tappan & Co. never pretended that
the precious metals could be secured to the coun-
try equal to its present mixed circulation. On
the contrary, Tappan, Buchanan, Walker, Ben
ton, and all the champions of metallic curren-
cy admitted that the destruction of Banks and
Bank paper would bring doloa prices and the ral-
ue of labor! They contended that prices
would come down and therefore a reduction of
wages would not be felt. Tappan and others
contended that the only way in which we could
compete with foreign manufacturers and produ-
GERS would be to bring down prices and labor!
Is the first fact not established before us at this
time. Flour, superfine, is worth but four dol
lars per barrel in New York, under the present
Locofoco dynasty, Oower than ever before
knOwn,) yet it cannot be exported and sold for
cash without u rery heary loss! Now, how are
we to sell our surplus grain in Europel The on
ly way, evidently, is TO cut down the price of
wheat and flour still lower! And, under Locofo-
co free trade, the wages of mechanics and labor
crs arc going down in order to allow our manu-
iacturcrs chance to compete with the poorly
paid labor of Europe! These are facts the Ad-
yertiser cannot gainsay, and it will not make the
attempts nor will its co-workers in behalf of low
wages and low priccs-Mr. Buchanan's "Euro-
pean standard"
That an abundant circulating medium will aid
in keeping up prices we have always contended
and will still contend, and that contracted cur
rency will contract prices is equally true, and
will hold good save when the demand very great
ly exceeds the supply. But the Wings never
said that the mere establishment of banks could
give high prices Of itself, when the whole policy
of the government is calculated to cripple those
banks, inure their credit and destroy their circu-
lation. We have now before us the Baltimore
Sun-a proiessedly neutal paper, but one that
does not condemn the Sub Treasury and that
takes every convenient occasion to defend the
measures of the administration,-in which the
admission is distinctly made that our domestic
productions" have been "enhanced" in price by
the "cheapened currency" The Advertiser
quoted apProvingly few days since from the
Sun, suppose itmakes room for this admission
of that paper:
"The Independent Treasury, so far as it tends
to narrow Bank issues, is specially to be desired
by manufacturers" "The cost of Domestic
productions is so enhanced by the cheapened
currency, that foreign manufactures come in in
spite of the protection afforded by the Tariff de-
signed to shut them out'-"it disables us from
competing with those who produce under dear
er currency"