The Sumter banner. [volume] (Sumterville, S.C.) 1846-1855, 1852-08-03
Gou-aapu nt1r a2atlpe As,ru.''

seem to be indicated, and if the sup.
ply of silver should simultaneously in.
crease to the extent that some per.
sons anticipate. is problem upon
which each inquirer will form his
own. opinion.
It will remain to point out that
simultaneously with these changes
the increase Of production in articles
of food, clothing, aud luxury, which
has been strikinsly manifested as a
consequence of flee trade, will steadi.
l.y continue, and will thus most prcba.
bly, prevent most of those articles
from rising in price that is to say
although a man ten years hence
might have to ray two sovereiyns for
some few articles, the production of
which had remained stationary,
where he would now paw only one,
he might possibly be able to yet as
much flour, or coffee, or calico, for
his one sovereign as he gets at this
moment. If this be the case, it will
be said the position of the annuitant
will be unchanged. But there is
something else to be aided. Al.
though the income Of the annuitant
might obtain for him all that he now
gets, and his position vii! be actually
as good as ever. it will no.. be so by
comparison. His income will have
stood still while all others Lave been
increasing, and, although the greater
supply of articles of ycneraiconsump.
ton will enable him to livc1as he for.
merly did, society at large will have
advanced to much more textens.v
expenditure a cottager's ,wife of
the present day, for instance, in con.
sequence OF the improvements iii man
u!actures, wears clothing, which a
hundred years back could mot have
been obtained by persons If wealth,
but her relative position m|,he social
scale is precisely the sameias former
ly. If the wealthy laly,oFt that time
we're now living, and cpaldsenlYSget
-ferhe money What Sue got .stiSn, She.
would be III comparative poverty, AMI
1t viii be seen, therefore, therefore c
that does not tollow from the fact of
an individual being able TO enjoy for
the future all that lie has hitherto Oh.
tanned that he may not practically
fall from good income to narrow
one.
With regard to minor points, little
requires to be said. Some people are
still found to ask whether the Bank is
to 20 on giving the price of E3 It's.
"a. per ounce for gold; whereas, all
that the Bank gives when it issues
note Is an acknowledgment that a
certain amount OF gold has been dc.
posted with it, which the bearer may
have back whenever he likes to apply
tor It. Cold constitutes the general
measure ofprice, and therefore is the
only thing that has not a price Of its
o"n. 1t Is simply receivable at the
rate mentioned; that is to say, when
one man talks Of owing another IS
It's. 3d., he means that he owes him
an ounce Of gold. TO Speak literally
of money iricc Of gold is just as if
Il person we're to ask how much tea
he must give for pound Of .ea.-
Others, again, inquire il. the increase
of supply Will not affect the rate Of
interest Tor money, which is plainly
an ilnpossiblity, since the 10 that
may be paid Ion interest is just affect.
cd TO the 81 .,c proportIu!.ate extent
as the G1OO Which is lent. If a
man borrowed one hundred loavcs ut.
bread on condition OF returning one
hundred and five luavcs at the end Of
the year, lie would not expect the
rate Of interest Of five louvcs to be
affected i'll amy degree By an incrcas.
cd production Of bread. The same
illustration, il it be applied to the
question whether the Price OF the
funds can be affected, viii slow that
i'll that case also the gold discoveries
can have no direct action. The re.
cent rise iii Consuls is merely C, nsc.
qncnt upon a Continuance OF that alb
sencc OF healthy enterprise which has
been observable ever since the mad.
ness of 1917. Concurrcnt!y with
the Increase ,I coliI:l cuuSrI hv th,