Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1863-10-27
TEcIsLATIyE TINKERING.

larly wise In their own concelt, but IN
the estimation Of nobody else, are tlnk-l
ering with the question OF prices. They
would be better employed in seeking to
regulate by law, the drift of the clouds,
or the flow Of the tides. In the latter
case, they would, at least do no mis-
chief Bnt we fear, that in the former,
they may do great harm.
The idea of regulating prices by act
Of Legislature, is not only absurd, butts
positively nischievous. These quack
Legislators, ignore the teachings OF his-
| tory, as well as the deductions of reason.
This same experiment has been tried,
over and over again, in other countries,
and always failed. Our fathers at
tempted it in the revolutionary struggle!
and Washington admonished them, #.
they did not stop it, they would starve'
the army.
We say that the whole thing is simply
absurd. Prices depend on the condl-
ltion of the currency, and the rates OF
|supply and demand.
What is the price Of anything! 1t
depends on its relation to the currency
flor the time being. When gold and
silver are the circulating medium, it
means the amount of gold and silver for
which the whole can be exchanged. So
when gold and silver are abandoned,
| and paper substituted as a currency, II
means the amount of paper for which it
can be exchanged. If you render mo
| ney plenty, prices will be hight you
render it scarce, they will be low. Here
lis the whole matter in a nutshell. Be
| fore the war, gold was the standard OF
value, and wheat would bring one dol
lar, and corn half dollar per bushel.--
Since the war, we have adopted paper
as the currency, and we have ten times
as much paper as we had gold. As a
Ematter of course, prices have risen to ten
times their old rates, and wheat now
brings near ten dollars and corn five
1.-The only practical way of bringing
ldown prices, is by reducing the amount
ofcurrency. Retire half the currency,
and you will reduce prices one half
double the currency, and you will dou-
Eb.e the prices.
/ But to talk of leaving the currency as
lit IS, and then, arbitrarily requiring GER
ltain classes. of people to sell their com
lmodities for one half the present rates,
lis SC prcposterous, that we wonder how
sane men can entertain the proposition
for al instant.
/ Let rs look at it for a moment. Shoes
lare now worth $35. Suppose Legisla.
Iture provides that no man shall sell
shoes for more than $780, under a
Eheavy penalty; what will be the result2
Will it cheaper shoes? Unquestiona.
| bly, not, for 10 man can afford to make
land sell them for that price He will
therefore not sell alta loss, but close up
| his shop So with the blacksmith, the
tailor. and the weaver. The moment
that they find they are required to syll
lat loss they will stop work Instead
lof high priced goods, we will have none.
+ How will it be with the farmer! 1t
Ifcrmerly cost farmer about $500 to
hire and maintain a hand He could
then afford to sell -four at S.. Now his
|expenses, in the deprecated currency,
are ten times as great, and Of course he
must have ten times as much for his
flour. When you say to him by law
Eyou must not sell your -four for more
than tive dollars, and if you do. you
must go to Jail, he willsay, "very well |!
| shall not violate your law by selling at
more than $5-I will not sell at ALL
will keep what [ have for my own use,
and in future, will raise no more than
is necessary for my family consump-
ton" What will be the effect? Pro.
duction will stop and starvation will fol-
low. Instead of high priced grain, we.
will have none
| These silly Legislators are very inno-.
GENTLY, but very ignorantly, striving to
aggravate the very evil Of which they
Icomplain. They will shut up all the
workshops and stop all production of ag-
1ricIltural productions, and what chen
iScenes Of unparalleled distress will en-
sue, followed by mobs, ana, civ and
bloodshedl People will take by force,
if they cannot buy for mouey. They
will not see their wives and children
starve.
We earnestly hope the legislators will
have common sense enough to reject
these demagogue ideas. Let them strike
at the root of the evil. Reduce the cur
rency. Put that on secure founda-
ZION, and prices will soon adjust them
selves,
But, if in spite of all warnings, they
are determined to plungetle commune
| ty into the vortex of anarchy and suffer
| ing, we beg our readers to remember,
that We entered our earnest protest a.
gainst it; and if violence follows, vel
hope it will be directed against the au-
thors Of the mischief the s-olid legisla-
tors, who from stupidity or selfish de-
sire to gain notoriet., have brought
these calamiiies on the country. Ifany
are to be roughly handled, let it be the
guilty, and not the innocent
2. S.-Since the above was put in
type, we are pleased to see that the Sen
ate, upon the matter being brought to
test vote, has had the good sense to de-
feat the bill by considerable majority.
FROM CHARLESTON.
The situation of affairs at Charleston
appear to be unchanged since our last
Issue. The booming of an occasional /