Cooper's Clarksburg register. [volume] (Clarksburg, Va. [W. Va.]) 1851-1861, 1857-12-18
EpIToRs 8 a1PRoPRIEroRs.
,sWMoLE 4 NO. HaIe.

3TfsSxF 1Anat Alfe soolSSs " . :, W
creating money, was as 2 currency Tor
the tconyenienee Of ala whereas the OBJ.
jsct Of the product, of individual lndnssry
is the advantage Of the Individual alone
3 Sd. That the tile of an indisldnai| 20
merohapdise Is absolute; but that his titis
70 q portion OF the currency is qualified.
he having no legal, at least no morat
right to prevent the object of its creation.
~ 4lh, That money differs from all
in The power which Is insep-
arabic fremitn That this pewer was con-
ferred upon IL by geyernment. !. and that NJ
is the right and duty of the government
to, see that a power impaired for the gem
erel good shall not be prevented % the
injury Of the public. II g.au,ss dgss "a
.lsfs5th. That this power is the pecessa-
ry consequences Of the character limposed
upon itsbY government, money being the
only INSTRUMENT of exchange; and theree
foreiindispensable TO the business ofall.
/" 9Th. That money being generally ia
the hands Of the fews the, facilities Tor
creating an artificial scarcity are omueh
greater than fo1 ereRting 40 artificial SCAR
city. of merohandiseS|H s <, vi! I;i3s
That the rate Of interest Is raised BY
treating money as merchandise. is proved
not only by. oil experience fairly, stated,
but especially by the fact thst,usnry, laws
do not now prohibit usurers from taking
less than legal rates. 90 the !eppHarya
the argument Of the usuFeTs Is. that they
are constantly trying to raise aboss-thsms
because they must be paid for the rick:
II with the risk they now risea aboge
them. 10 what height would they not rise
II there was, no risk. and nothing tosrs,
press them !? 1t is notorious, that. the
note shavers now combine TO monopolize
ell the money TO be loaned by large bold
ders, who will not themselves violate ahe
law. in order thatthe may FIX usprys at
the highest rate 10 the neeessilous, plo
are not so punclual as themselves in pay,
ing debts. If such men were restrained
by NO laws, TO back the morel ilstinetsrof
humanity and brotherhood among men,
what would they not. demands ofithe .nec-
essities Of the bound and burdeped debtor
classes in hard times2 Its utterly iaila.
cious that free trade in money lowers rho
rate Of interest. Free trade In money
will utterly destroy free trade in amsrr
chandise. By lowering and restraipg tho
rate Of interest on money alone, can'regs
ulsr trade and business be proteetedsS4r
The desperate speonlator or Rpendthtilt
will pay rate which the honest fair. reg,
ular dealer cannot afford. otlFhe preamble
to the statute Of Anne, passed moro thar
100 years ago. attest the truth ofslhisee
perience in England. When the usurer
says, $50 to-day IL worth what. 500
was worth yestetdays"t tbe replyiis.iYthe
So. the interest on $50 10 day. 10 worth
what SO, the interest on $780, was worth
yesterdays" When the usufer demands
then that his interest shall be double, boz
cause the value Of his principal isldon.
bIed. il is plain that bis demand is that
his interest shall be quadrupled, whilst
the worth Of his principal Is only idouE
bled. Ifyou say that because shei ralue
Of the principal is doubled, the rate ofinr
terest shall be doubled, and then You
would multiply bis intrrcst fonr.fold.-S
For il So to-day is worth only SO yester,
day, and you allow him to take So. tho
double of So, ON $50 today then you.
allow him the worth Of Si2 yesterdayaor
four times $3l And this proses the nek
cessity for some relative OBSERVATION-DISCLOSURES
measure Of moneys worth, to- which
prices must relate. The standards.
whether ii be yard stick. buslel. for, fsto
Of interest--1emains frm and oa6xed.
whist the price Of merchandise pAuetue
ates, as il will aud must il trade remains
free. Andtthus, and thus yonly.scan sreE
alive worthsbe ascertained.afIhss scale or
standard is firm. and prices slide ons and
are graduated bysits Bui!if the price Of
merchandise and the price Of money, care
RlEa
caprice Of bargAinerss then there will be
no standard, prices will fbereonfustdy and
relative worth cannot cbG asoeriaineas-7
You might as well permilu tbelcnowd,sof
the market house ItoialIeT the weights or
change the BEAM Of the balance every
hour, or atIthe whim Of, every bargaineek
as to abloish the usury laws. And l6sssy
that because merchandise 10, knoWuStd
rise above the level OF, value Hhensdes
mand is great and ipticesarG high saHd 90
fall below when ceases and prices
fall,n and therefore the price .ofsmousS
will be in like manner leqnaiizsd. is inter,
ly fallaeious. Because fbe demnndaf
money is always, continuously. dispro-
portionetely gfeater than the demand8or
anything else. When expansion initiates
and infinitely 'muItipIies dealers this IN
turns makes . greater demsud, for none
ey. And sgain-- when The bubble Of in
aation burst, every thing falls downato
hard dollars, and they are exceedingly
scarce and IN great demand thoussndb Of
sufferers are grosping under pressure.
debts are large aud numerous. heavy and
bearing hard down on then; and in their
agony they will pay any price for money.
Thus, whether times be high or ilpss. tfep
demand for money Is oni 6fAn proportion
10 the demand for every thing else, and,