American union. [volume] (Morgantown, Va. [W. Va.]) 1855-1859, 1857-10-30
WHOLE NO l23

nom lake to lake, haviog fishing line
with worm at one end and fool at tho
other. These are the fist families i'm
Some where. Their idleness is counted
pleasure. Sixof these sons will marry.
and i've, perhaps. of Mr.. ManyeirIs
daughters, and what families they will
found, TO live on tho toll oftheir pranj. f
fathers bones, until a commercial c,i-
sis or the wear and tear OF time has dis
sipated their fortune, they are forced.
reluctantly. to toll ..s',.. .. ..... :.
Besides. there is an enormous WASTE
"f food. fuel. clothing, of everything
| We are Tie least econom ical ciriliecL
people on earth. or course. tho poor
are wastoful everywhere. They do not
Know how to economize, and they have
not the means. They must live from
hand to mouth, aud half Of what is out
into the hand perishes before it reaches
the mouth. So likewise are the rich
wasteful who have inherited money
almost never such as have earned il.
lhe great mass of tho people arc not
economical, but was,efuI-it is the hab.
1t OF the whole county.
The next cause is the rashuess Of
experiment. leading men to engage in
enterprises not well planned, and which
turn out i'll cost much and come 20
"''ie. Hence come attempts to devel-
op new forms of Industry, or old forms
in new places; the building OF railroads
IN advance ofpopulaion, or in advance
of business, and the grea, increase Of
shipping. But this is a failing that
cleans to virtues side"
Then the ppirit which prevails in our
trade is not very honest one. IIe
would not say that we we're worse than
other na'ionsj he was sure we wele
better, juster, more honest than our
fathers were 100 years ago" The veal
thIest merchant who did business in
this city so years ego, would not be toll
Grated on Change a single day. But
look at the defalcations Of men intrust.
ed with public funds--look at the great
swindlings by officers of railroads and
banks-remember how lightly all these
thinks ere passed over, aud how very
seldom great thief gets punished at
ali-rememher TINT men fail in trade.
leaving half a million of debt, and one.
tenth OF million to discharge the debt
-remember how the Pacific COMPANY
pot 81 500 900 in guild Of other mems
property; aud 600 of their living bod.
les into ship, with only six boats, and
no pump that could throw wuter-in n
ship that had q reputation so bad that
she could not be kept aHoot without
changing her name, and making the
George Lac the Central Americu- and
then you see what spirit there is III
our uade. .. .'.. .-.... a "
Our systeri Of buying and selling is
vo'y bad thing. 1t encourages o&trov.
a gance by putting of payday it makcs
the transaction Of business more expeu-
siVe, by necessilating great number Of
clerks II gives opportunity to tempta.
ti"u and fraud il produces q general
unsonndness in trade, and so increases
the cost Of every pound Of bread we
eat. evory inch of cloth we wear. every
brick wo pile into our walls, and ovcry
slate which roofs onr bouses. ltseems
TO be cheap it 'uIns out to be dear
Here is another cause.-the erca, and
controlling one. We maize anoaey ogt
I IF 'ohat has no intrinsic ya1uc--0nt Of
paper. All property is the product of
r labor. To distribute from tho prudu-
Ger to the consumer. there must bo trade
For that, there must be money, which
RI is simply thu instrument Of trade--n
'ao0r.saving machine To promote buy
ing and selling. Aner much expert.
mentIng. mankind has taken gold and
silver. and therefore made money. tho
INSTRUMENT Of trade. the medium Of com.
mefce. Gold and silver arc property.
and So represent tho labor reunisite to
acquire them they are Transferable
property, aud, Of course, subject 10 tho
laws Of property, they ,so aud fall in
value, and no legislation can prevent
= that, any more than iron or tin vet.
commonly they nuctuate less than any
other substance that could be chosen.
They are condensed property. And
hot only are they the medium by which
, debts are paid, but they are the srand-
ard measures Of all value. Gold or sill
yer made into coin has no more value
than before. At the mint the Govern
ment puts stamp upon it, which is
simply national certificate that il has
certain purity, or comes up to a ce,-
tain weight. 1t is certificate of value,
not creating of value. -.
Nov, in America. we make fictitious
mouey out Of piece Of paper, which
contains somobod's promise TO pay
dollar, and this becomes an Instrument
OF trade. by which debts arc paid, and
the standard measure Of value. Unlike
the metallic dollar, the paper dollar has
no intrinsic worth--.is not property, Oh.
I y the lawful representative Of property.
We have chartered some twelve or thir-
teen hundred banks il the UnitodSra,es
to manufacture this substitute for metal.
ic money, on condition that when tho
, paper is brought back, they ohall pay
metallic dollar for il. a BILL which is
q pIOmise lN phY. Ia tnknn in t,nurnnu,