The weekly hawk-eye. [volume] (Burlington, Iowa) 1858-1860, 1859-11-12

NNese4 oS0~s ~ - ~ - -
-. ehae. shcc ~ 1SS,n - aonoa oax IN.
60 - r. = S.. vh,ah h.s 4.
.-s.ss.s'.
psvsneAed 80 ceeessy 49, Oeeraeea essssy -
~ disaAsans1oo q AGcnE Wen. has been
eo.,lav af,aesyepe 49, ryo1ceine or agticul
e-..r. a,wua1sr go voev. -, ~ -,
-. a v,...-,. !.
- vM8i1ss = sss aenceisersi az
6soGa
~ 49,. az n oooaNesafaiea ars recal.ted
- >.,.s I. II. -. - $50. - ....
- !. g !. 8 = Inv ss1'snu. ~
- ~ - coe00oa = - eofsency. 0old
end silver ere. ~ orr Osaoaitntion and laws,
- r,eae>s. - 49, h /, - ~. A,.A... ;..
,,....-., -. -. '-......s - 49,. -.
ssss - sssnseses y wuscu voc vaase
ct other conmoditiso y estinatsd. should itself
b seahle enA nnj(oem. Iveey one would IN
1900 = . 49, a.. an. -. -..lA -
-.
saas ag1 neva3 sssnoesu "
weights ard moasuree, and The injusttce OF ale
losing nnrsiea - aoateaae ancorAinw 10 one
s.......s 4. 80, -. $500. =. 1870.
s-.'.'.. -. -
The injustice, ~ sh9 case, seeskes the mind, pc
cause the sfandasds-sh she yard -ssick, the pound
va,.ht a,a - hrahel--and she anh;eota 70
s-.;.a 49,. 1870 =. .....,., - $50.
- st'1's. - s. .''u ss4e'.
bic. But the huctuatioas IN the measure Of
sslss, thepeh lees apparent are not lessl real
NOR le.s ;n;ur;on. than fascination. In .ha ma.
...- :. .-.- =
10y "ese " eOu~sOs
70 deliver y future day, . hundred bushels Of
wheat. which. eccorainR 70 the present stand-
..d ,o,,,A mas, . ,n...;., ..ep.;.n. - ..;.h
"e.
WAsy nuuoFea Pouoos, y woald oe 'niqoMous 70
allow the seller, when the day for the diiiyery
arrived. In discharge mia obli~at;on hv tende,-
.....;.- -. 1870 -.,ss 80 80 -.
70 S-..' '-'' vs'' "s'.u oH'' 'o''y "u1
dree. - 20 compel MN - deliver quantity
thar would weigh eighty hundred In pay mepk
THis would be palpable % the meanest can.eisv.
-. -,..- =. e :. \, .-.-r..'s
Aes eeS Nv lssa'ss We 'sos snas eqaa' a1)ust'ce
u constantly bsang pFaesced In consequences ol
changes IN the M assure Of value. Ia times Of
pro.nn,;tv vhen The balance Of ,r.ae i. =. f.vo,
q -. rY.:..s -,
sss' eS'S sAS a'''es Ase sccu
@u'assd 10 sne country. Lake every other arti-
Gle Of commerce, their value 10 affected. 70 q
great extent, BY this ratio between the supply
| and the demand. When the supply is increased.
the demand remaining the same, the value il
diminished, and, on the other hand. g the suns
| ply 10 diminished the value % increased.
Let us nov look at some Of the practical eff
fects OF these fluctuations In the supply and
value OF the precious metals on the contracts Of
men. II farmer contract debt Of 81 900 to-
day, when wheat is worth 81 per bushel. he can
discharge bis debt BY transferring to his creditor
1000 bushels Of wheat, or the price for which
he can cell Il. But, suppose be contracts debt
OF that amount payable In one or two years,
and in the mean time the balance Of trade he's
turned against the United States, rapid expor-
tation Of specie has taken place, and the quan-
tity in the country u reduced one-halt. It is
plainthat the value Of gold will have appreciated
nearly In an inverse ratio TO the quantity lett
The measures Of value will be changed: one
dollar will nov buy what Il would have required
two dollars - buy the year before and the
farmer viii now have TO give two thousand
bushels Of wheat, or its price, to pay the debt
whichsone thousand bushels would have paid at
the date Of the contract Thus, by change in
the condition Of the currency, his debt is subs
stantially doubled, because Is requires double
the amount OF property to pay it.
We had many striking Illustrations of this
proposition during the commercial revulsion OF
1857. In that year our imports greatly exceed
ed our exports, and it became necessary to send
abroad large portion Of the coin Of our coun>
try to pay our foreign Indebtedness. Heavy
drafts were accordingly made on the specie in
Geuerei ctrcuieuOn ana ON the reserved stocks
in the banks. These drafts we're for . time
promptly met, but at length they became 60
onerous that the banks we're compelled TO sus-
pend specie payments A panic soon followed,
credit vas Frustrated, those who had money
boarded it, and debtors found it almost impossi-
ble to obtain coin to discharge their obligations.
Gold was nearly doubled in value, and those
who were fortunate enough to have it we're en-
abled to buy Virginia State bonds at S54 per
share OF el0o. and all other property At similar
rates OF depreciation. The debtor therefore, who
relied on the sale Of Virginia stocks or other
property to meet his obligations, found himself
under the necessity Of selling twice the quanti-
~ ne had anticipated to pay his debt And the
mischief was aggravated BY the fact that the
loss IN oil such cases fell on those least able to
bear i, and the profit accrued to the capitalist
and the speculator. -
These revusions In our monetary system have
been OF such frequent occurrence, and have
been attended with such wide spread ruin, that
1" time public attention should be directed to
the diecosery OF the appropriate remedy. In
ny Judgment they can only be averted BY ma
king more ~ nome and buying less abroad. We