New-York daily tribune., 1854-09-14

rich men chose TO pay for it. and thas providing
among the poorer men candidates for the benent oil
the Rarkrupt Law. Some of the largest fortunes
in this City are the results of the great specula-
,iens then made To such 1sthese our free trade
friends-the shsm Democrats, who write always
in the interest Of the money lenders, and whose
chief i. represt nted abroad By the lieutenant OF
the prince of usurers. now busily engaged in con-
yerting an American Mission into shaving shop
cannot and do not object as il tends to enrich
the few and impoveri.h the many in full accord
ance with the patent Democracy Of the day
The only speculation 10 which they do object IS
that which attends a decline in the price OF
money, and a rise in the price of other prop
erty, and which tends to free the money oor'
rover from the grasp of the money lender as
wss done by the tariff of 1872 Up to the date
of the passage of that act, property Of all kinds
was steadily depreciatiog, and rs steadily passing
from the hands of the poor Demo rat who had
borrowed money into the hands of the rich arls
tocrat who had lent il. The BelmOnts then had
it all their own way, and even the strongest
among us engaged in trade or manufactures,
could borrow only at the most eItravasant rates
of interest So lis it now. The strong man may
borrow az double or treble interest, but the
paper OF the small manufacturer can scarcely be
disposed of, as The Ledger itself informs u.s. at
spy rate Of discount. British free trade leads
thus invariably 10 the same results. As yet the
Federal Government has an overhOwing treasury.
but so il had in 1868, when We did precisely
Ii. - fanH ri lnfH Qll
iron. almost without limit, and export all the
gold that could be collected throughout the
country to pay for them, The period OF ISL
followed, and the treasury was then oeggared,
and the same result will probably be reached by
1856. Like causes always produce like effects.
What was required in l5i2 was cJnfden e
in the future and this it was which resulted
from the passage Of the act Of ". Com ience
can never exist under system which teu4s daily
to increase the value of gold and silver, and 20
diminish tie value of everything else. Ii is that
copfd.pce which is now needed and it can never
be obtained under the existing system of trade.
ReTnact the tariff ~ and the whole state of
affairs will be changed within week for conf
dence will then at ence take the place Of the dis
trust which now everywhere exists, aud under
which trade is being so rapidly diminished. 1t
will then at once be felt that gold is to decline
in value. and that lands, mills canal and railroad
stocks are TO Increase in --ue, with daily diminu
tion in the power of the money lender, and in-
crease in that of the nOney-bOrrOwer. That
however, would not suit the money changers,
and it is not to be supposed that any such measure
will find advocates in the journals conducted in
the money lending interest. 1t suits them better
TO assure their readers that "specie, real money
huctua;es little in amount or value and, of
course, that its movements are of small import
snce 10 the community. Knowing as we do
that there is no commodity whatsoever whOse
fluctuations are so sudden or so great, it has ap-
peared to us that in making this assertion The
L,dger must have calculated largely on the exist
ence among its readers of that class of whose
continuance we are daily assured by the adyer
tisements Of the Perhams, the Walkers, and other
schemers.
What are the facts In lSll2 piece of real
money would command more labor than in 1916
could be had for two or three such pieces, for in
the former period,theIe were tens OF thousands
of laborrrs who could not obtain employment on
adv terms whatever aud would gladly have work
ed for their TODD alone; whereas, in the latter pc
riod th re was an universal demand for labor, aud
of course at liberal wages In the first the man
that had real mOrey" to sell made the terms.
In the last il was he who had libor TO sell that
made them. Ia 1912, a bag of real money"
would command more railroad stocks, houses, or
lnBds, thsr in 1916 could be had for three bags
and vet we are tol that "real money hucta-
ates Lut little in value" The increase in its
value that has taken place in the last three
months is great but there is every reason to
beii,<e that By lao it will yet be doubled. Not
content with shipping all the gold that arrives in
our ports, We are now scrapiDg it up in al those
places in the West at which 1t accumulated in the
early days of California and adding it to the
arIount OF our e1pOrts-and if the result OF this
be not an appreciation in the value Of money, the
days Of miracles cannot ye. have passed away.
British free trade has always led to bankruptcy,
snd il always will do so. II is not in the nature
of things that it should be otherwise Whether
or not the appreciation will be SO great as to rem
der necessary new bankrupt law for freeing the
many in debt from the power Of the few that are
now accommodating fortunes at the rate of two per
cent. per month time alone can determine.
Money, however, being a merely human in-
" stitutiOn," can, as We are grsyely assured by
another of the Oraeles Of the city of Brotherly
Love, have no value whatsoever. We beg our
readers, knowing as they DO how hard ii is IN
these days to get il, not 10 laugh at the idea /.
comes from learned philosopher who cautions
his reader. 10 The BuLetin against placing any