The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1854-08-15

the Government being administered entirely
| i'm tho interest of the money lending classes
and adversely to those of the poor Democrats
that need to borrow.
We need a policy that shall enable somo of
the gold TO remain at home. Tho more of ii
that stays the more readily will be tho rate of
interest What that policy is will be the rate
of interest. What that policy is will readily
be seen by those who study the legislation of
the past thirty years of our history. Under
the tariff of 1928 we made iron and imported
more gold than we exported-prces rose inter.
est foil, and wo paid off the balance of our
foreign debt Under tho Compromise tariff
we exported gold as long as we had it to givo,
and then the country became bankrupt in for
| tune and in character, add the working people
| were ruined, but the money lender became
rich as his commodity became more valuable
Under the tariff of 1912 we again made iron
and cloth, and thcn we imported gold and
kept it, and the money was cheap; but under
under that of l846 we exported so rapidly that
il does little more than Il uch our wharves in
its passage from the Panama steamer to tho
British one. The consequence is, that it is
now so dear that it command double or treble
interest, and mortgagages can no longer be
sold except at ruinous discount. Under the
tuTills Vi 1910 We hcpL tuo BOiu ucCdusc VIC
made the iron, and we became from day to
day more prosperous; but under that of the
Compromise we ceased to make the iron or
the cloth, and then we parted with the gold,
| as We are now doing undor tho tariff of lS46,
with prospect of the samo result that we
thcn realized.
Such being the case, it might bo supposed
that tho men who fill our Legislative halls
could by this time have arrived at the conclu-
sion that system tending to enrich the mon
ey lending class at the expense Of all others,
could not be beneficial to the farmers and plan
ters and that it might be we'll 10 retrace our
steps, and adopt policy that would keep the
gold and reduce the rate of interest ms it is
now being reduced in France and other pro-
tected countries of continental Europe Far
otherwise, however is the tendency of things.
To enable the gold to go out even moro rapid
ly than it now does, to render money more
scarce, to raise still higher the rate of interest,
TO increase the difficulty of making roads, and
TO reduce as far as possible the price of land,
it is proposed to reduce the duties on cloth
and iron generally, to abolish all duties on rail-
road ir, n, bnd to offer the people of Canada
bounties OF the settlement of their lands in or
der that they may obtain more gold from us, to
be used for purchase of British cloth and Brit
ish iron. Already we have granted to that
country advantages that have enabled il 10 in
creaco rapidly in population and wealth, and
that should have purchased the freedom of the
fisheries and of the st. Lawrence, but it is
now proposed 10 give to it all the advantages
of being in the Union while remaining out of
it find euery step in that direction opens a
ne,o outlet for gold. tending to produce decline
Of prices, and ddUdnce in the rate IF interest.
Tho Government is, we have said, admin ister-
ed in the interest of the money lending class
and all its measures tend TO the building up
OF that class at tho expense of all others-and
this is the Sham Democracy of our day.
We are told that the so-called reciprocity
treaty is now IT, be confirmed. Should il be
os. we certainly shall not be at all surprised
nor. perhaps. shall we be greatly grieved. II
will 20 be sure. somewhat hasten the crisis
that il approaching. bot its effects will, we
think be salutary. for it cannot but produce a
differentiation on the part of the mort ern
States that If the provinces are to enjoy all
the advantages of being in the Union. they
shall participate in the performance of duties
imposed upon its States-and that they shall
either relinquish the one assume the other.
If the treaty become tho law of the land il
must apparently be by help of southern votes.
but what advantage southern men can see as
likely TO result from the adoption OF measures
tending to render money scarcer and to ip-
crease It's prlcc-tO increase the ulIlculty Oh
making roads-and to hasten the day of an
nexalion, we are quite at loss to conceive.
The people they represent are generally in
debt, and il should be desirable to reduce the
rate of interest to have roads--they have cot
ton to sell and the more roads are made, the
moro cloth must be required-thcy have wheat
and GOAL to sell, and the more readily capital
can bo obtained for the making of roads, the
higher will be their prices, and yet all their
movements tends towards an increased expul- |
siou of gold-an increased rate of interesest,
and diminished value of lands! So, too, |
with the Western men. They need roads,
and yet al! ideas look towards approaching
to the highest possible degree the value oft
commodity, they require to borrow for the
making of roadsl They are dependent on the
money lender, and they seek to increase his
power by supporting measures advocating by
journals that are sold body and soul, to tho
money lending interest. So long as they look
in that direction for advice th ey will find con-
stantly increasing difficulty, but whenever
they shall support measures leading to the
retention of gold and the diminuiion of the
price of money, roads will be cheaply made,
and every part of the country will be enabled
to participate in the advantages resulting
from their construct ion.