Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1860-08-08
Effect Of the Depreciation Of Gala

uPon ole'alef . pook va Tie probable Fan
in the Value of Cold" with the folIow;,
striking conclusions:
1t seems to us that the instincts &C -.
mercial enterprise are already suficisna'
strong in the Anglo-Saxon race, and ths,s
is not so much more wealth which we w.,s
as higher sense Of the responsibilities =
wealth, and that more .judicious expendi,u.1
of it which would accompany more lust -.
ceptions. If this be SO. We may we'll dau,.
if the pecuniary disturbances with wh;ot
we are threatened, are likely to prove -
purely beneficial as those whose faith :
progress is more implicit than our own a..
accustomed to describe them. The mod
which wealth is distributed, is alwsvs ~
more importance than its aggregate amou,,
and process which increases the asgreo,,,
amount Of wealth only by operating on i.
distribution, is, therefore, ut least, ouss
tionable specific. We have seen wbat Il.
nature of the impending changes is. Ibsv
will, in many instances, increase, instead 4
mitigating, existing inequalities of condi,ion
They will enrich the cosmopolitan merchsn,
at the expense of the petty trader. The,
will enrich the commercial classes, a,
whole, ut the expense Of possessors Of fss
incomes, of the professional classes and al
salaried employees. Landlords will probably
on the whole, be gamers; they will lcss
temporarily where the outstanding lease.
are long. but they will gain permanently
through the tightening of their fixed encun.
brances; the balance of gain being obtaine}
by encroaching on the incomes of thei,
mortgages. The tendency of the move.
ment, as amongst the middle and hghe,
portions Of society, will thus be to agerau.
die the wealthy at the expense of the ind
gent; to tax the more liberal and en!igh,
ened for the benefit of the more narrow.
minded and selfish: to enrich those who's.
command of wealth is, perhaps, ALREADY
somewhat in advance Of their sense c(
it's responsibilities, from the means of elias:
ses at once more necessitous and more
cultivated. These are the evils of the
change, and against these We have to Sc,
the benefit to the working classes and the
ultimate gain to the world from the open,
ing OF new and fertile regions to mans in
dustry, and the extension of his dominion
over the earth.
1t is impossible to assign any limits to the
effects which must gradually ensue from.
progressive change in the value of the CON.
modify that has become by usage and BY
law the fixed basis of all contracts
change, We venture to say, scarcely less mo-
mentous to the condition Of our social ecOuo,
my, than an alteration IN the material con.
ditions Of this planet would be to the physi.
cal existence of man. But there is one con.
sideration, of i political nature, which
strikes US as SO curious and important, that
we must devote Il few lines to it before We
conclude. The political franchise of the
electors of the United Kingdom, is mainly
based upon the payment OF rent. Be it
more, or be it less, the occupation of dwell.
ling of certain value determined by tho
law, is the common test Of electoral ca.
pacity We will assume, for the sake Of
argument, that the ten.pound householder
is still the main ingredient in the electoral
body; but if the steady influx of gold pro
duces the consequences anticipated by NJ
Chevalier and Mr. Golden, one of the first
results will be an increase in the nominal
value Of houses, and, everything rising in
similar proportions, the present five pound
householder will be gradually brought with.
in the ten-pound franchise, though the rise
of wages and prices moving oari passu may
in other respects have left his condition w.
altered. Hence the effect of the gold dis.
coveries and of the fall in the value of gold,
will be greatly to extend the political fran.
chise, though it should remain nominally at
the same figure; and if the extraordinary
supplies of the precious metals which have
poured into Europe in the last nine or ten
years should continue, they will, by the
operation of natural causes, gradually but
irresistibly extend the basis of popular
power.
That good will on the whole predominant.
we believe but let lis not, on this account,
close our eyes To the serious cost at which
this preponderance of good will be obtained.
As regards this country, it appears to US
that the best means Of essening the evils OF
the crisis, is by giving timely warning fis
approach. Much may be done in the fra.
ming OF settlements, in the granting 81 lea
SEES, and in the selection of investments 10
mitigate its severity the grand rule being,
to avoid as much as possible purely monetary
securities. The foresight of Lord BuEleigh,
warned by the changes which he saw around
him, effected in the sixteenth century the
partial substitution Of corn for money rents
and in this way the incomes of colleges and
other institutions have been preserved, which
but for this precaution would have long
since dwindled into Insigpliicance. Inc
plan adopted under the 1.-THE Commutatoh
act, for regulating rent charge by the price
Of agricultural produce, suggests another
means by which the crisis may be moders'
ted. \ permiSsSe law, facilitating ARRANGE.
ments Of this kind. would be free from 81!
objection on the score of Justice, and might
be attended with much public advantage
But what is of far more importance than
any specific plan, is that the public should
be made aware of the principles which are
in operation, and of their inevitable tenden'
cy. When the tendency of the gold move
ment is fully recognized, means will not be
wanting for anticipating, and as the phrase
is, "discounting" its effects: and, in pro-
portion as this is done--in prop triton as ITS
influence is distributed over Il wider area OIL
interests and over longer period OF time
will the inequalities with which it is fraughs
be corrected, and its inevitable hardshp'
allevated.
A Practical SUGGEsrIoN.--The Baltimore
American" makes the following practical
suggestion to the New York Post:
us suggest to the Post, and through It I,
Lord Brougham, that if they desire soclal
determination with the negro there is nuch