Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1863-09-19
TaE BASIS OF VALUES.
Erom tLe 7tras Tsl,araph.

From the 7sras Telegraph
We lad something to say, some weeks since az 10
what may Justly be considered the basis standard Of
values. We endeAvored TO show that value depends
ultimately necessity or use, or want aud If there is
ANYTHING that can be used standard Of recessty or
use or want that is for that andard Of vauis
Ordinarily gold is U.S., Tor the standard because as
compared with other values its fluctuations less and
il is also convenient for the purpose Bat is tiff.
cia standard because in daily life, men dispense
with it altogether without serious Inconvenience and
hence while one condition Of things may make il a ne
cess ty another equally makes il altogether unused not
to say eless. goo.
Observe, for moment the condition of thu gs We
are now ia Out OF every hundred persons you meet
we venture nothing in saying that ninety ve and be-
lieve ninety nine have had occasion to use a dollar
of gold for tie last year. To say that article that
nobody has that nobody uses that nobody needa ard
th, It almost lbody wants Is article Of necessity
measure of values Of articles Of necessity is simply
absurd.
In ordinary tires cotton is a measure of values of
negroes, much more so than geld Twenty bales Of
cotton more or e s. is worth negro If that cotton
brings 600 tie average value Of negroes 81 OOO
but When brings 81 2OO the average value of negroes
IL 81 200. TIE vaue OF cotton end Of negroes DO
dctuate az to gold but bob remain fixed as 10 each
ether. Even now, with cotton scarce and Oh, The
negroes pentv and cheap when the relation OF values
between the two is disturbed than ever, twenty
bales Of cotton far to the vslue Of ne
gro than il does to 81 900 in gHl. Indeed doubt
il twenty bales OF cotton would bring over 800 in
gold in market to 6as, while negro wouli not com
maud over $500, if he would 50 much
Tho average o. the necessities Of life is the oaly
standard Of vsues aud the impossibiy of f1ir this
by any medium Of exchange in general use constitutes
our present difficulty. II couli be entirely cut Off
from foreign intercourse aud foreign trade-if there
was no such deI among the people that oh.
liged TO have clothing, &C., from abroad-if we're
all agreed to live entirely home produce, aud to
exclusively domestic manufactures, should never be
troubled bT gold be rg brought up at any time as
turb the relation Of values
The farmer has few bushels Of corn 70 SELL and be
c aims a bushel because his wife has to pay 50
yard for calico But ii his wife had no need OF the
calico the reason foe the high price Of corn would fall
and the high price fall with 1t But the farmer says his
wife is as good anybody and shall dress as well as
the merchants wife, He iorgets that If his wife we're
70 Dire in homespun tie merchants wife would soon
be obliged 20 do the thog, and that the merchant
dcesses his wife with the money the farmer fur
nshes him.
But we have some foreign intercourse, and specie
viii disturb the rela ion Of values while il con,iuue-
We can then have standard but in the interchange
of articles which is the law Of supply aud demand and
tbi, after all is the Standard when specie is nom
nally So What, theny Let there be abundance, and
there will be cheApness. If the demand is fully sup
pied there is nothing out OF the way and feels
any pressure.
What piece Of property, let US ask, all other things
being equal will TO day bring in specie what it oud
before the wary Suppose any of property were
thrown the market in quest Of specie how long
would il require TO reduce all values TO twenty-five per
cent of the standard before the war; IT. them specie
has changed in Vslle so much more than any other
commodity, il commodity it may be called, how idle ia
it TO declare that 10 be q standard Of value How
idle talk Of Tpecie It's equiyalentin transactions
Of life
We are unfortunate in having no fixed and regular
standard. Our community ia too small comparatively
for the opera ions OF those computations that in the
world at large regulate the value Of specie Our cur
renoy must Aucuaie. Il is abundant but vera It fixed
at 4 small amount that abundance would cause evil
result lfcorn is 81 bushel and stays at that year
la and year out, there is ALTERING bee nse every
thing else will command propOrtionate price, IL we
agree 70 call bits dollar for convenience, and
Keep it up win have trouble so long We have
no dealing with those who call eight bits dollar until
we change and undertake TO cali bit dollar.
There Is remedy for present coalition but in
keeping down the circulation There is no remedy for
with all use OF t. and this viii when rid Of
all the surplus Gotten have. herWse must raise
an abundance Of cotton and give sp Gle the control Of
value. Are We prepared 70 do tnisl
INCONSISTENCY A gentleman cam, into our Office
and complained that 81 was too high a. price for a
years subscription TO newspaper Before going out
be tT.red 20 sell rs some gold coin for Confederate
money. We toid hnn tnabf VIC neftr mAue euon e1-
changes We asked. him, however, how much be had
70 sell and what be asked for its He said he had $2O
and required $500 in Confederate money It. 1t will
be observed that upon bis estimate of the value
OF the currency We receive in exchange for subscrp
tor the price Of the paper is basis OF gold only
twenty six and two Third cen's-seV and onc-half
times less than was before the war when the price
the same basis was s. By his own estimate, the pres
ant prce Is ny twenysx and two third cents instead
of g. as before the Yet before the war the price
was cheap at 81 but is now dear at twenty six and
third cents By his estimate Of the value Of
reucy the present price should be $780, instead Of 81
40 eonstaney what Jewel thou arti'
This gentleman is not alone in his inconsistency-al
those who are asking Eve and prices for wood and
AGRICULTURAL prOduoIs, and complain at the Price of
newspapers, are In the same cregory. They seem to
act upon the principe that Confederate money is Of
very little value when they are to receive it. but Of pre-
cio1s value when they to pay 1t out lof so little
vsue why so anxious to get IT. and why reluctant TO
part With itH Is IL worth more Ia passing into the
hands of an editor than into those Of farmer mer
chant? II they think so, We win agree take cre of
their money at very low per administration Spec
tatOf.