Fayetteville observer. [volume] (Fayetteville, Tenn.) 1850-1966, 1856-07-17

| stable fcnrrency.
! All other circumstances being
Eequal, / agree with the Senator from
Kentucky that the country is most
prosperous where labor commands
4 the highest wages. | do not, how
ever, mean by the terms "highest
wages" the greatest nominal amount.
During the Revolutionary War, one
days work commanded a hundred
dollars of continental paper; but this
would scarcely have purchased q
breakfast The more proper expires
sion would be, to say that the coun-
try is most prosperous where labor
commands the greatest reward; where
one days labor will procure not the
greatest nominal amount of depreci-
ated currency, but most Of the nec-
essaries and comforts of life. If,
therefore, you should, 10 some de-
gree, reduce the nominal price paid
for labor, by reducing the amount of
your bank issues within reasonable
and safe limits, and establishing a
metallic basis for your paper cireula-
tion, would this injure the laborer?
Certainly not; because the price Of
all the .necessaries and comforts Of
life are reduced in the same proper
ton, and be will be able to purchase
more of them for one dollar in a sound
state Of the currency, than he could
have done in the days Of extrava-
CANT expansion, for dollar and a
quarter. So far from injuring, it
will greatly benefit the laboring man.
It will insure to him constant en-
lpIoyment and regular prices, paid in
a sound currency, which, of all things,
be ought most to desire; and it will
save him from being involved in
ruin by recurrence of those period
ical expansions and contractions Of
the currency, which have hitherto
convulsed the country.
/ This sound state Of the ourren-
cy will have another most happy ef-
feet upon the labor;ng man. He will
receive his wages in gold and silver;
and this will induce him to lay up,
for future use, such a portion Of them
as be can spare, after satisfying his
immediate wants. This he will not
DO at present, because he knows not
whether the trash which he is now
compelled to receive as money, will
continue to be of any value q week
or a month hereafter. A knowl-
edge of this fact tends to Danish
economy from his dwelling, and in
duces him to expend all his wages as
rapid as possible, lest they may be-
come worthless on his hands.
Sir, the laboring classes under
stand this subject perfectly. 1t is
the hard. handed and firm.fisted men
Of the country on whom we must re-
ly in the day Of danger, who are the
most friendly to the passage Of this
bill? 1t is they who are the most
ardently in favor Of infusing into the
currency Of the country very large
amount Of the precious metals.
Terrific Combat Between Horses.
Late English papers give an ac-
count OF most singular but terrible
combat between two horses in the
streets of Portsmouth. Immediately
opposite the George Hotel. Itseems
that as the dragons stationed there
were walking their horses to the DIFF
ferent billeting-honses, black STALL
ion attacked a bay next to him with
the most savage ferocity. The drag
goon was speedily thrown, and the
bay, nothing 10th, returned the at
tack with equal determination. The
scene was without parallel: the an
imals fought like bulldogs, struck out
their fore-legs, seized each other by
the chest and neck, rolled over and
over again, groaned, snorted, and
Isayagely continued the extraordinary
encounter for upwards of seven min
utes. The hadesmen shut up their
shops, for the infuriated animals
seemed bent on mutual destruction.
Eight or ten dragons could do moth
ling With them until their strength was
|spent and their fury exhausted, when
one powerful young man watched bis
opportunity, and rushing at the pros
ltrated black stallion, seized him reso
/ ]lutely by both ears, and, with an iror
grasp, made the animal groan viii
|rage and,pain. The bay was with diff
Guilty forced away, and tried to kicl
land bite every one near him.