The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1857-09-23
EE BLooMsBURG CoLUMBIA CoUNTYFPA~ WEDNESDAY Sc

a. IRON, coal, copper, lead, ivory, fnrniture OF
land. The price of oil these things lie deter.
mined by their utility in the first instance,
and in the second, by the quantity in which
they exist or, ia few words, by demand
and supply. The uses 10 which iron can be
put are, mnltfarious. They determine lie
absolute value, which is equally great. here,
in England and Russia; but iron.ors being
more scarce ia Russia, the relative value Of
iron ore is higher there than in England or
America; that is to say, the same weight of
iron will fetch the greatest weight of silver
or gold or other marketable goods. in Russia.
Now, gold and silver, like other metals, are
of the greatest importance in the arts. They
are on account Of certain properties, such as
inconosiveness, great maleabfiily and divisi-
billy, etc., indispensable, and no 4subs'itutc
has yet been found for them. Without them
chemistry would probably up 10 this day
have remained mere speculative science;
aud the practical arts could not have advance
ed 10 their present eminence of utility. Were
gold more abundanlly found IN The creyioes
Of the rocks and The sands of the rivers, it's
utility would remain the same only iis rela-
live price would diminish, and such has been
10 certain, but uncomfortable extent, the
consequences Of the supplies from Australia
and California. Silver has risen as gold went
down; wsich effect, partly owing 10 The
cause just assigned, was increased by the
large shpmens 10 China. The same excel.
lent properties, on account of which gold and
silver are so useful in The arts, pre-. .eminen,ly
fit them 10 serve as circulating medium
Capable of infinite subdivision, incorosye
and easily lransporlable, ttey are, besides
pla,ina, the only metals fully answering the
purpose of money. Their particular adapt
edness for specie, however, only enhances
their intrinsic value, as the price of iron
would be enhanced should new extensive
use for it be discovered. The stamp on gold
aud silver coin is but convenience in ex-
change, indicating It's weight or value. The
stamp wholly obllefaled, the coin would re-
tain the same value, only less the iriAing ex-
pense of coinage, provided the weight has
not been diminished. Gold and silver there
fore nave an intrinsic, universally recognized
worth. In all paris of the world they are
readily and at the shortest notice convertible
into every description Of services or property,
simply because they are themselves the most
useful, the most desirable kind of property,
of all things least subjec! to depreciation and
fiucuatiou. They do not represent, but are
actually property; whereas bank notes hav-
ing no inlr nsic value, are in fact, nothing
more than It's representatives. The credit Of
the parties who issue them not being univer-
sally known, they cannot have but limited
scope of circulation. Every nole must be
backed by security, or else il is worthless,
hence the amount of security offered by a
company determines it's credit, or capacity
for issuing notes. Gold and silver coin is Sc.
curly in itself aud as il forms the basis OF all
banking operations. expanding or contracting
them, according az II is plentiful or scarce,
thus re.ac,ing either bene6cially or ipiuri-
ously upon every department of business, il
is of the utmos! importance, that we should
always be adequately supplied with it. In
the United States the necessity for national
activity is infinitely greater than in the coun-
tries Of the Old World, where past ages have
10 great extent anticipated the wants of the
living generation. For every addition 10 the
population, we have to make new provisions
which requires money, and money being
therefore Of much higher value here thar
elsewhere, we should adopt such measures
as will prevent effecluslly the excessive ex
portation Of the precious metals--which alone
are money. 4..