Spirit of Jefferson. [volume] (Charles Town, Va. [W. Va.]) 1844-1948, 1857-07-21
] Vmgipia wilI not allow him DC Yalne of his

Virginia will allow him The value of his
money"
He was getting rich fast enough-faster than
any body else at per ceut-bpt the Richmond
board OF trade whispers in his ear, that .'moGey
has is markets as we'll as every other com mod iIY
and il arbitrary price is bxed on il in one place
il will seek its current value in another and then
nails this oracle h ihe =betf sYtIo4iSn thai fol.
lows anu forthwith, he fnds out that he is IN in
juTed man-he did not know II before the board of
trade proved it 10 him. aud away he sends his mo-
ney to seek us cuTTSaI value In another place I"
He sends his money 10 seek its .tcnrreut yaues' in
western land sPeculations, or worse than that to
be loaned TO speculators in land, at 20 3d. or 40
per cent? WHAT sort Of . markell he has sent his
Snoney to- this "cther slaee and how be is like
ly TO fare ABOUT he current va "a he may now
learn through the press atathe pIace'' ITSELF re-
quoe from the Spirit ot ffers6n, the remarks of
the esNebraskian. paper Published at Omaha city,
Nebraska Territory /!
"The past few years have been 10 m any specn-
latoFs in Western lands, eSlden age ia, slinnis
g1owa, and Wisconsin, they have bought they hSye
sold, they have counteS tAeif gafns by huhdreds uf
thousands, and Indeed hase saneisd themselves
rich bur, then, one Inafsf 81 pnsh they would
be richer they ma he iha id lheg are f1fses
And So INV uEns out saflsis ssilo al to-
dsg M sing ass .c e spsealafitln.
Affer sumo appTuprfl, as pom past ex-
rerlenes il he sjseai iaiilg maAfk ih ~ istonsitt
Editor conctades With the following good advice
Swqiehs y commend, TO these nigh pressure gentie-
E men who tniLk money below its value in this
State and point TO the gloroIs "markeIs" for it
IN the West 10 hnd its "cuFent value" in the
hands OF land speculators.
rs g eTh, letsus profit by the Rst. 1t is high time
that this reckless sPiri of speculation was check
ed, and The usJal pursuits OF lfe received general
attention. Ii IS undoubtedly right and proper that
men shouldraCe with each ottRr-that they should
buy ana sell and get again" btt when this buying
and selling mania SeiZeS hold d the great mass of
the community. to the almost toal neglect of the
1'rOduet've 2,WTsuSlS of life, IheJesuh cannot be
doubtful The srinsency of the nl1ney market and
the high prices OF provisions ShoIgG convince US
that cannot live hv ri al
every pr ducer 10 the prOfilless consumer, and
gaunt famine will shortly istare u ip the face
The great i0O al labor cannot be vidaled with i'm
punliy. and, II we Will not learn Lessons from The
past, the future may compel US 10 iseu 10 nstruc-
tion that may be m re torcibEe than igreeabe."
make these quotations directly in response to
the theory OF The Richmond board OF Fade. First
to show that the mOney.mongerS havelaken their
pigs |" bag market" and seco0dy Nat SIX per
ceut is the full value of money and as much
as any legitimate business Tay.
In regard 10 the proposition of the Richmond
board of trade to exclude, at least, negotiable pa.
per from the operation OF the usury laws it would
be in effect complete repeal of the laws AID by
chichanery and circumVention. All cop,racts
would, alter such an exception som assume the
shape OF negotiable paper. II you'd be The favor
lite mode OF doing business. There are other OBJ
leCIions 10 il besides but from which | refrain a
this lime, commenting, and shall conclu this ar
iIcle by SIMPLY enumeralmg some of the immedi.
ate cons quences of ine repeal of.he nsusy laws.
The efecroi such repeal would be, Instantly,
10 put into suit every account, bond, or note Of
hand, and to lead to the prompt enforcement; Of
every deed of trust and muTtgage, unless the
debor class. with ruin hanging over them, and the
cord around their necks, would a"ree enter into
new contracts, and 10 pay just what usury fmighi
please taeir creditors 70 demand and extor!!
Six per ceLL is enough and more than enough,
tor the use Of the;crcdH system 10 exchanges; and
before its Rag Barons aud grand. financiers at
tempt TO force more from labor, | would advise
them to Iook TO The strength of their boiler-they
may buts, it. They may compel the people to
iook into The entire credit system with an nspec-
tion far deeper and sharper than they have ever
dreamed of in their philosophy
Summit Point, July 10Th, 1857.
OBSERVER: