Lamoille newsdealer. [volume] (Hyde Park, Vt.) 1860-1877, 1862-11-07
THE MONEY MARKET.

dtVIlDuIc VhO piSoOuo abuhuauOS VI iOheJ
which is offered at the low rate of five per
cent year, to the great quantity of pa
per money which has been put in circula-
ton by the Government, but we think,
if the subject is thoroughly investigated,
it will be found that there is no relation
between the two.
Who are the money lenders? And
how did they get their money?
Let us take an individual case. There
is a gentleman well known to the note
brokers of the city, who always has few
thousands to invest in notes that he be-
lievcs will be paid, and the modein which he
obtained these thousands is perfectly plain
to those who have watched his prosperous
career. AS it is fair sample of the pro-
cess by which most money lenders have
obtained their capital, it will serve to H.
lustrate the subject.
This man began life as day laborer,
and worked and saved until he had $l75
in the savings bank. He then invested
this amount in certain styles of dry goods
which he had taken pains to become fa-
miliar with, and opened a small store in
the lower part of the city. The goods
he bought by the piece, and offered
to sell by the yard. This labor of
dividing the goods into quantities which
individuals wanted, of standing always
ready to measure and cut off the desired
number of yards, and of wrapping up the
parcels and sending them home, proved
more valuable to the community than the
labor which the man was performing be-
fore. We mean of more money value,
and this was shown in the fact that the
community were willing to pay and did
pay more for this service than for the
other In other words, the man made
money faster in his little dry goods trade
then he did working at wages; and at
the end of the first year he found himself
worth $3.50.
To understand this matter, let us OBJ
serve the facts. The $3.50 worth of cap
ital is not money, but dry goods. The
fact that these goods are property, is not
owing to the circumstances that they will
sell for money, but results from their pow
er Of satisfying some human want. 1t is
this power which makes them exchanged
bic either for money, or -four, or labor,
or other things which people regard as
desirable.
At the end of the second year, our cap
italist was worth $4,000, and from this
time forward, by shrewdness diligence
and economy, his business increased, and
his wealth accumulated, and just before
the war he retired with little over
100000.
During all of the time, the principal
portion of the property existed in the
form of dry goods. Some of these goods
were in his own store, and some were
scattered through the country in the
hands of those to whom he had sold
them, and whose notes he held. In accu-
mulating this property, the trader had
not got money out of any other person
no man was impoverished by his becom-
ing rich. The wealth that he had accu-
mulated was an addition to the wealth of
the country and the wealth of the world.
All of the wealth in the world has been
accumulated by the savings of individu-
ais. Had there been no savers, there
would never have been any wealth accu-
mulated. Among the natives of Ceylon
and among the digger Indians of Califor.
MIA no wealth accumulated, because none
of the inhabitants have the disposition
and faculty to save it.
When our gentleman retired from trade
he decided to invest his property in notes
in other words to loan it on interest, and
if we look into the matter, we shall fine
that it still exists in the form of dry
goods and other merchandise. 1t is gen
orally hired by business men, either man
ufacturcrs or traders, and they invest i
at once in some form of property othel
than money. A small amount of money
about two per cent of the whole--i
necessary to effect the exchanges but tn