The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1857-04-04
EV Ms v IL L &:
~A gray-haired fogy gentleman, in the

ENQUIRER whose ideas Of finance have been
gathered in country store retailing tape, land
selling molasses and whisky by the quart, and
who has naturally mistaken his own narrow /
conceits for common sense, thinks the Journal
is moonstruck, in its advocacy Of general
sy stem of railroads, and with wiseacre wisdom.
asks where the money is to come from? The
interrogatory shows his capacity and limit OF
the questioner's views. What does he mean |
by money, and what is the agency of money |
in supporting labor? We suppose the old
gentleman would regard the notes OF the
Bank Of England as money, and he would
take the Free Bank notes at his shop for
money. And what are they? The Bank Of
England, which sustains large share of the
trade and labor of the world, and settles the
final balances of nearly all the commerce of
the globe, does it all on faith or credit. Her
whole capital consists of the irredeemable
debt of Great Britain, which no man ex-
poets to be ever paid, and which according to
Common Sense must be moonshine. And the
free Bank notes of our State, are based on
State stock, and are debt predicated upon a
debt-upon moral Obligation thing with
out substance, and more inappreciable to the
senses Of some men, than moonshine. How
is such money coined but out Of the perfec-
ton Of credit; and the basis Of credit is integ-
rity, industry and capacity; it is in the virtues.
al ouI II
people; their observance Of the moral law,
and their ability to use the gifts of Provi-
dence. Evansville we have supposed had a
good deal of the substance for this kind of
tofore. Every honest community can turn
their products into exchangeable values or
currency as fast as they create them. Mon
ey is only the representative of the substan-
tial products Of labor; as soon as labor creates
q real value, it can be turned into currency,
or currency can be predcated upon it, and
labor will pay itself out Of its own creations.
All exchanges OF values are but an exchange
of labor, and currency-or money--serves but
to keep the accounts between the trafIickers
A home illustration will perhaps, best ex.
plain the agency Of money in maintaining la
Dor. We saw by statement the other day
that about 500 persons, male and female, who
are workingin the factory and coal mines in
Cannelton had been paid nearly $4,000 fol
one months work. There are in that village
as many more persons, employed in OF her pur-
suits, who earn, by labor, an equal sum Of
money, which would make the aggregate
monthly earnings of the laborers Of that vii
lage, about $4,000 or 100000 per annum
This labor is manual labor and averages only
about 81 per day. In Evansville, we do q
least five. times as much labor, and including
merchants professional men, citizens, &C.. tn,
average pay must be higher; it would no
therefore be extravagant to put the wages o
our labor-if the Cannelton labor be $6OO,OO(
at $4,OOO,OOO, all of which is to be paid il
money. We may search all our bank vaults
iron safss. till drawers, and pockets in town
and there will not be found $50 900 in mon
ey in the whole of them; and now we ask
$4,o0O,O0O worth Of labor that is to be don
in this city next year? awe pause for re
ply" Is it not the palest sort Of moonshin
to attempt to do 100000 worth of work, il
one year, with $4,000 perhaps in money t
pay for it. Are not the whole communit
moonstruck who undertake it? Had we no
all better stop work, with such poor chanc
for pay? And rs we can't live without pa
and must die of starvation, the whole of u
had better commit general felo de Sc, in a
of dispair, at the awful prospect before us.
But let as take courage; last year We di
about the same amount of labor, with no NOR
money to begin with, and yet we all got on
pay, and in money, too, though the deuce
nor Commol Sense can tell where it cam
from, or how it was done. 1t was the sam
the year previous; and we think we can rel
upon the same thing being accomplished tn
present year. And as We were not very BAG
ly overworked last year, and as there were
great many idle men, always about the stree
who eat as much, and were clothed as we'll
if they had been earning something for then
selves, instead of living on those who were
work, suppose we give these idlers emplo
ment, and labor little more ourselves, con
we not easily raise our work to "a, 10000
and appropriate the extra 100000 Of lab
as an investment in railroad. The businc
OF every community is but an exchange Of !
Dor among its individual members, and Gu
rency or money is only used to settle Il
accounts between them. A Bank note
$1,000 will sometimes pay $4,000 of debts
aday. and come back in the way Of busine
to him who first issued it in the morning.
we have got the labor, we can build railroad
and II the roads are built where they a
paada1 fbev III pro~ ida thu 4