The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-11-20

High Prices IN new nOrk-Ene ExpenSAOm
ard Con traction OF the Paper Currency.
We had occasion tho other day to refer to the in
Auerce Of the expansion of the paper currency Of
the c9uotry upon real estate, and on the cost Of
living in the city Of New York We selected three
periods. in illustration Of our statement, viz
1856, year Of great imitation; lS43 year of
extreme depression, and 1852, the present year, as
an example of another period Of expansion and in
Aation Of prices.
We showed that real estate, in its rise and fall,
bad Tailed with these three periods. This is fur
Their shown by the tables We have given Of the real
estate for each Of those years in the city
Of New York
The expar sion Of the paper currency we find car
iies up every thing with it. 1t increases our i'm
portatiops, advances real estate, augments the
penses Of living giving an artificial value to nearly
all kinds of property The contraction of the same
currency, which sooner later is to folio Y,
never fails to exercise an opposite tendency.
The increased cost Of farm produce to the PEG Die
of New York, is not owing so much to any increase
OF middlemens profits rs it is to the advance in all
other species of property, caused by the extension
Of banks and popcr money. In 1886, all articles
of food, whether of-meats or vegetables were as
high as they are now, while in 1913 they were much
lower, The system Of middlemen (cisy market
hucksters) was com mon in 1886 and IL % as now
and their profits Cess expenses) have not probably,
materially varied at either period The fact u.s.
city consumers can never expect to obtain their
meats ard vegetables directly from the pro-
ducers while the present state of things lasts
How can man pay an annual rent of from $50
to $500 for small stall in one Of our public mar
l. l..,n lu.nx xs3l
sn oil fruit stall in Washington market told us that
he paid at the rate of 800 per annum during sum
mer but that in winter when he sold poultry, they
raised the rent to the rate 0. $50 per annum Who
pays his rent? Why, the consumer Where does
the money 60? Into no city treasury, that it is
the consumer who is thus virtually taxed for city
purposes.
The corner store grocers, when they sell to con-
SINNERS, must also make large profit, or they can
not live. Their store rent varies from $780, 800,
and $500 10 $1,000 or $1,000 per annum They
also require clerk, must keep horse, and pay
insurance, Sc The came applies to the keepers of
local markets in the different wards. High rents
not only add TO the expense of procuring shelter,
but to the cost Of eatab es consumed AL 20 to-
gether and the increase Of paper money is the fuel
that feeds the flame.
Some say the present iolation is caused by the
receipt of gold from California While this may
have produced some effect, yet from the large re-
shipments of it made to Europe, which amounted in
1851 to about forsy-three millions, and in nine
months Of 1852 to about thirty.two millions and
the inequality in the distribution of the remainder,
we believe that its agency has been over estimated.
No believe that had the circulation of paper
been rigidly confined to q specie basis-in other
words, that had the gold been relied ths prin
cipal circulating medium, to the exclusion Of paper
money founded State debts or bonds, that things
would have SO suddenly attained the present state
Of limitation
To prove how regularly the prices of articles of
living, the amount Of foreign importations the va
ue Of real estate with which the cost of rents cor
responds) all, more or less based upon the ex-
pansion and contraction of paper money, we have
only to submit the following tables
TABLE SHOWING Cosr ARTICLES OF Foop IN THE
Cry OF NEW YckK l YEARS.