New-York daily tribune., 1858-02-05
TO TIE PRESIDENT OF TIE UNITED
STATES.
LETTER XN.

rnceang .aort to secure 10 tse the control OF thdt
.,,e,. n.,,rnen. Of .ssociation known mooey-the
,rcfssea object Of all s labor. in that direction haV
ing been the establishment OF what has been 'er'r7
" q hard money currency" 70 the entire exeu''V' VI
the paper circulation. The more Il ha- iaooTed, 10"
ever he less hs. been the statihyo. The currency
:he perods distinguished by IT. most earnest ehorS
having been those IN which We have BEEN mot cot-
peled 10 dispense with the Of the prec'ons met7'
But recently money AZ we are toll, aeoundcd-'he
channels OF circulation having been everywhere nh-d
with gold Now, money OF every k-nd has almost d.
together dsappeared There l. scarcely, 'ey7
recent traveller "sn Eastern bank note to DC iouno
west os Cleveland, and any few dollars that may
straege thi- way are eagerly snapped up and 'ent
Eat a. remittance. Gold is hidden, where II sun
npers but very much, not only OF tins but OF sHei
" change has been gethered up and sent Ea't' "
" braskn bank notes generally of dubious so.vency'
I" and uniformly convertible INTO specie or rasisIh
"psper only at runous discount, corporation nm
pls.ters, and even individual shnplaster.-oone OF
" Them regarded az Of anv value far Outsde oi tne
shadow OF the tall Banks whence they are issueu
are the accepted substitutes Tor money IN most
loaljties upon and west OF the Nj 'sisspp. One OF
the Hutchinson brothers-who are now here, singing
their way eastward from their new home 10 hlnne-
" sota-informes me that he has been singing along
Z" four hundred miles, through Minneso;a ana io~a-
taking grain for music, wherever cash was unat-
ssrce farmer drove up with eight bushels oi corn
" in hs sleigh, and hs wife and SIX children seated
" thereon, saying, We have no money, but We want
10 hear YOU and j. the best we can give yo1'
" He nccepted the corn very gladly, gave eight
twenty y-hye cent tickets in exchange Tor H. anu sung
" il out. 80.
Similar to this, Mr. President, was he state OF things
at the close Of the first trial OF ree-trade 'yste
which. as YOU have 20 clearly seen, we do MT AT
present require. So was II, too, IN loiO-il ~ tue
close of the second experimenting only difference
between II and s predecessor having been tnht tue
second crs- was far more fearful than the first - -
il now when we fast approaching the close oi the
third experimeut-each and every rla OF the tvorte
policy Of the central Government thus ending 10 the
total disappearance Of that metallic basis NhcA i
has 80 much desired TO increase
WHY is this 20 Because, Mr. President, your pre-
decessors ever TO have reflected to BE cnaOieu
TO use any commodity or thing, We must first enable
ourselves to cct H. and that regular influx OF the
precious metals is quite "A necessary 70 the mamie"
nance of the hard money circulation, "a an innA Oi
hides and cotton TO enable Us TO wear shoes and shirts
While asserting that money Is mere com'nodty,
they 90 not admit that II Is subject to tue 'dme laws
which govern other commodities. Had our policy
tended 10 produce great an export OF cotton AS 10
compel our people TO go III rags, no one Wonm nave
thought Of charging the dealers IN cotton With cie;
and yet while pursuing policy that has whenever
tried resulted IN the disappearance OF the precious
metals the fact of inability to produce them when de
manded has always been regarded as evidence OF GRIM
inalty in the banks warrdntng new additions 10 the
pains and penalties provided by existing laws Year
aferyear since the central Government undertook the
regulation of the currency, have they been ncreased
and vet despite the penalties, suspensions have oc
CURED. They must continue to occur, until the cen
ral Government shall come TO appreciate the value OF
that very lonely proverb which teaches that a ooy
cannot eat a cake and yet have lt-thence learning
that community cannot, more than an Individual
pursue tending TO promote the expulsion OF
The precious metals and yet ENJOY all the advantages
attendant upon the maintenance OF specie eifcula-
ton.
All eoumod ties Mr. President, 20 from those places
at which their utility is small, 10 those at which it is
great Therefore it il that cotton, wool, and other
raw materials tend toward those places a, wlach em
poyncIts are most diyersifedt being there that the
products of the farm command the largest quantity OF
money Gold and silver follow in the train OF raw mate
ras and for the that where the farmer and the
artisan are most enabled to cOmbue flushed commod:
i.ios always cheapest. When Germany exported
corn and wool they We're crcar and she was required
to export gold to aid III paying for the cloth and paper
she iInpored-the latte being very dear. Now she
imports both wool and rage; her farmers obtain high
prices for their products, and are enriched; and the
gold comes to her because cloth and paper are go
c cap thet she sends them the most distant quarters
of the world. so is il with France Belgium, Sweden
and Denmark all Of which are large Importers OF raw
materials and of gold In all these countries raw ma
lerias rise in price; and h6 greater Hc tcHdeHcP 10
rise, the moTt roptdiy nap| ne cure" Of ne precop
metals set IN that direction. The country that desires
to increase its supplies of gold and thus lower the
price of money, i therefore, required TO pursue the
course of policy tending most TO raise the prices OF
however is directly the opposite of the policy aiyo
Gated by the British school, which seeks in the cheap
ening of all the law material OF manufactures, the
means of advancing civilization.
The proposition, Mr.. President above submitted
for voui consideration very simple one, and yet ii
is by i,s aid if at all, that shall arrive at cor
rect unders anding of the cause OF the difficulties
under which we labor. The precious metals 30 JTom
those countries IN which employ NmeLts are least d.
yersifed-fr0m those in which agriculture Is least
sciencc-jrom those in which the yield Of the
land is leaet-tfOm those IN which the and
ia becoming more aud more eXhaus,ed-tro8s
those in which the prices of the rude products
of the earth the owest-trODi those that are be-
coming more and more dependent upon trGde-troS
those in which domestic commerce decAnes-trom
those in which men are becoming less !rce-JTom all
those therefore, which decline in utilization. They
20 10 those countries in which cmplOyments are bccom
ing more dveI-iedtO those in which agriculture Is
bec( ming and more a scence-tO those IN which
the Weld OF the land is larg.sttO those in which the
powers of the and increa-e--'0 those in which the
farmers products command the hisest pTices--'O
those which becoming less dependent upon foreign
trad,-t1 those in which there is steady growth OF
domestic commerce. those ~ which men are bCcDm
ing less and less cn~aycd,o all those therefore, in
which with zach successive year, are more aud
more presented with those phenomena which Indicate
advance in civilization.
OF the machinery in u.e by man. it j. the most ser-
,icsable that is last Obained-the cart following the
camel and the mue-the wagon following the cart
and the railroad car with It's locomotive, following the
wagon OF all the instruments given by the Creator
for mans use, money il tire which performs the
LARGEST amount of service in proportion to it. cost:
snd therefore il j. that il il always tue last to he OBJ
tanned. Countries whose people are limited TO the
single pur.ut scratching the earth neither afford
10 buy nor keep it, Therefore il Is that tn precious
metals 90 ii, Postn:a snd Turkey, Brazil and Chill
California and Australia in both OF which latter the
prcc of mcney indicated by the rate of interest is
higher than in almost any other portion OF the world
CGuntr.s in which ae pursuits Of diversified
-thtsc. therefore, in which the prices OF agricultural
products tend 20 rse-cdH afford tO buy and keep