American union. [volume] (Morgantown, Va. [W. Va.]) 1855-1859, 1857-10-30

- carried "N t,Se Nil other rnorchaD.
"ize, it brings the highest p.ics where |
it is needed aud used Tho nros,. Iris |
nnt to bs denied tina, there ~ a certain !
convenience in this. especially attend. |
lng large trRnsactiuns; but in using il in
small sums. there is this great incnnve.
rie"ce. AS paper costs lt'le labor.
andris yet taken ior-the representative
of value, and al a certificate for labor
done, it Is multiplied To great extent.
Then moneyis cheap and prices 80 up.
The farmer gets two dollars for his
bushel of corn-that is, he gets the
promise to pay two metallic do!lars.-
Wages rise; the laborer gets more pa.
per money for his work. but his e. ain,
cloth and coal also rise, and no gets no
moro value than before. Accordingly,
rs prices rise. it costs more To menufac
tnre than before, and so we import the
products Of labor from abroad, where
here is little paper money and prices
a'e low.
AS we feel rich, because money is
plenty. and oil mon say it is as good as
gold. we import largely articles of'com.
fort and luxury, and send abroad our
'aw materials in payment. 10 be brough,
hack manufactured goods. But by aud
Wy the raw material is not quite aGe-
qnate to pay our foreign debts--ior oar
paper money is good for nothing abroad;
eur foreighn goods. sold at paper 2ri-
rns. must be paid for in tho metallic
'nnney-and specie runs out the coun-
~. Then the banks, not having the
actual metallic money TO pay, refuse to
circulate their bills money becomes
"short." "tigh,"--thete is pressure in
the market Money is worth more than
before. goods are worthless. Merchants
"ho have bought goods on credit, and
sold them on credit. cannot meet their
payments, aud, accordingly, must soil
rh~ir permanent property TO meet their
payments, or else pay enormous rates
of ln'erest-t"r money Is merchandise.
aud when sca,ce. like bread in bes, g.
ed city. ii gees up To famine prices. -
iNrncks fall in value ten, twenty, thirty,
f'rty, even fifty per cent. Capitalsls
t'rc"ne distrnslful. and refuse TO loan
~ all. Traders fail, aud give up their
permanent property t. their creditors :
1t is sold at a reduced value. 2tIe ira
der loses half, but the creditor is only
half paid.
The inheritance cfbirth, the earnings
IF q long life are at once SWEPT. In his
hlA age, the thrifty merchant is loft with
nothing. TimiJ men withdraw their
money from circulation--it lies still and
49, Idle dollar is just as useless as an
!le spindle or an idle axe. Great en-
'oTprisrs stop. Men are thrown out Of
employment. Hunger looks through
We windows VI thousand homes, m a Z.
hing ugly mouths a, wives and babes.
We take great pains u proven, this
evil, We Try legally to fix the value Of
fhis paper moUey we have created, and
threaten to punish every man who loans
!, at more than six per cent. We might
~ well say that water should not run
d"wn hill. We have tried to make
that money which is not money, which
represents no labor done, and we can.
uut escape from the Consequences Of
oar FIRST false principle. We wonder
'Eat Sp"cie does Iot stay in the Iand.-
u ia because We think paper money is
! :st as good, and France and ENGLAND
q not. 1t rains gold. end we hold out
or dish bottom Dpwar ds-of course it
* empty. We complain tina, there is
lack OF specin in our county. In the
last twelve months We have exported
'n"re than sixIy-Uine millions of gold
from This very laui.
Osher causes bad their Influences, but
the main trouble Mr.. Pal krr said. 40 il
seemed TO him. came from ihiS-Mat IRE
trusted ~ 3o0per money. The immedi-
RIO consequence of this state of things
80 worry painful. Some men lose their
'rtaies; lew great properties are scat.
'"red a! once; many li,,ie compeien-
'Ps come 10 nothing. Sometimes this
happens tn the best men in the coun-
'ry-meD with liberal ideas, with hab
is Of generosity. You all know what
has recently befallen one Of The most
honorable, generous. and Christian men
IN this town, who as a thriving mer.
chan! said has done more for the ris-
Jag generation Of Boston than any ten
churches that could be named. You
oil depIOre the misfortune Of this noble
lniIanthroyi>t. Now and then chance
hot strikes n coward in his tent, bu,
'rn1monly il is the bravo soldiers who
get shot IN battle. There is a "forlorn
hope" in the battle Of productive indus.
tfy not less than the battle Of war, and
he CMr. P.) looked on the honest mer.
chant who turned out bankrupt, as he
looked on the wounded soldier, cover.
cred with honorable seats, got in front
nanfuIly confronting the foe. He has
suffered but it was in the cause Of God
and his country. Just now, we are in
Ba laklava battle and somebody has
hlundered. let Us do honor to the "six
hundred" remembering how they rode
onward" meaning right.
In conclusion, Mr.. Parker, set forth
the dufips Invnl .inn upn., hnnnraIl