Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1861-12-10
on ereates. Oangor. No !.

now facing each other from Washington, along our
whole border 70 the Eastern slope of the Rocky.
Mountains, and along our whole seabord, that 1t is
much to be feared, lest we overlook danger
greater to than all the armed forces of the Fed
eral Government. The intelligent re ader will at
once understand, that aude to the subject Of our
{ ado and currency.
This danger is enhanced from the fact that the
popular mind is bat poorly enlightened upon the
subject, and am not sure but might say utterly
benighted, and misguided and in the next place,
that the almost universal disposition of mankind
to postpone difficulties, even though they be there
by indefinitely augmented inelinss as toe much, to
adopt that policy which brings with ii the small
est amount Of present inconvsne nee upon the prin
ciple hat sufficient for the day is the evil thereof
If there are those who expect the country to pass
through the present conflict without sacrifice, they
would do well to review the whole subject. One
man, one section of country may suffer less than
another. Some, indeed, may even profit by it. But
war is always more or lees disastrous to the trade
commerce and finances of country, regarded as
whole. We shall be more likely to overcome
these CANCERS, with least permanent sacrifice, by
looking them full in the face. 1t is q waste OF
breath and temper to quarrel with spectators and
brokers, and it is fatal delusion to content cur
selves in the belief that war even of extermins-
ton upon these, would restore trade and currency
to their natural channel They are but incidents
and by no means the primary or priHcipdl cause OF
the evils of which We hear such loud and numer~
Gus complaints.
Where then lies the cause, and what il the rem
edy: 1t is law Of trade usually recognized, as
well by the common sense of mankind as by politi-
cal economists that the relative e1changesble value
If articles of merchandise ia determined by the
relative supply and demand Of each.
At the risk of being little tedious, let Us sup
pose ordinarily, bushel of corn is exchanged for
an hundred weight of hay, or, what is the same
thing that both are sold in the market for the
price, money being mere medium of exchange
Now, if from any cause there be but half the usual
crop Of hay and an abundant crop Of corn, it needs
no labored argument to prove that bushel Of corn
can no longer be exchanged for an hundred weight
| OF hay.
The principle is the same when applied to mer-
cha Idise and money, SO called, whether it be gold,
silver and copper coin, or mere paper meney. The
/ exchsngeable value of these is determined by the
same general laws OF trade which regulate the
value of other articles of merchandise. True, we
adopt, for the sake of convenience, some form Of
currency as a medium of exchange, and the rels
tive value of the different coins or what ever else
may be adopted is expressed upon their face.
! Upon one piece is stamped or written-One Dol
! Lar, upon another, Five Dollars But this is evi
dsnce of the fact only, that worth five times
a. much as the other. But the new denomination
of coin, or paper, does not express their value in
reference to any other thing. A piece of gold Of
certain weight has the same denomination now that
it had before the discovery of the mines Of Austria
LA and California, although its exehsngable value
owing to the great additional supply Is far less than
it was previous to that time. True, we generally
say that corn, wheat, &c haverisen in value which
ID only partially But it would better express
the idea 10 say that gold has fallen in value that is
cannot be exchanged for SO much corn, wheat or
labor as formerly.
Disregarding mere forms of expression. we should
accustom ourselves to consider money merely as ar
article of merchandise, in such universal de-
mand, however, that it will always be accepted
at some rste in exchange for whatever we may
wish Is possess. Here is piece Of golC
which weighs so many ounces, peanyweishts and
grains. 1t has been ssssyed weighed and coined in
to certain shape BY the Government, which Ger
titles to the fact of its weight Rot lis udlae, which
weight is expressed by the denomination of fifty
dollars. And it would have been all the ssme, ex
cept in point of convenience IL the weight had bser
expressed by different denomination, a. so msny
ounces, grains, &c. Keeping these indisputAbl'
fscts alw avs in view, we shall more easily com
kprehend the nature Of our present difficulties snC
} the only avoidabIs remedy. TIA: speculation hal
tended 70 increase prices to certain extent is no
denied But have said that it is not the primary
nor principal cause, being necessary incident
merely Of an unavoidable state OF things aud o.
qrarated by imp'udsnt legislation, The primary anC
principal cause ia in the increased demand ant
diminished supply of the articles which have rissI
so enormously in price, and the enlarged supply O
the thing which We offer in Cxchspge-papel
promises.
am unable to stste in figures the amount Of pro
visions heretofore imported into the Southern
States from those of the North, but il is estimated
we sll know, by millions. All this is cut Ctf-tha
is the general supply is diminished to that extent
Our crop of the present year it Is true, is per
hsps greater than ever before; bat the crop of tn
previous year was deficient. and the extraordinar
the time our present crop had matured so that moi
withstandlng large crop, the first month Of wiz
ter finds US with an amount on hand but little
excess, in proportion TO population, Of the sam
month of any previous year.
We are deficient in supply then to just the exter
of what we formerly received from the NorthGr
States On the other hand the demand il far create
b than heretofore. l think it would not be e1travl
CANT to assume thst our present army will consum
Of meat and -four as much IS the entire popula.io
Of Tennessee now at home.
g This calculation may at first seem little e1
{ travagqnt bu. moments reflection will show tina
it falls under rather than over the amount. Til
. army may be set down in round numbers as beinj
r equal to one third our whole population, aud tn
= number drawn from the State Of Tennessee as equs
to one third eur adult male population. Now whe
Il it IL remembered that according to all past expe
r rience an army consumes double the amount requiI
ed for the same men az homs, and that Of the hom