Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-06-15
Ruined or HotI

"Gold is 100, and the property of the
country will be destroyed" says Mr.. Faint
heart. .-. ..r ....
"Gold is going to 200, and 1 shall be
broke" says Mr.. Weakness. s-r
81 am ruined! Ny bank balance is
worth only fifty-five cents on the dollar"
says Mr.. Neverthink. m..
Let US stop moment, gentlemen, and
look into this matter Facts are better
than fears, and principle is better than
predjudice. You are suffering-yes suf:
terin9, there is no other word for it
under the delusion that the amount of
gold and silver coin in the country is an
equivalent Of its wealth. Now, do you
know that the highest financial authors
ties have never estimated this amount at
over two hundred and fifty millions, and
it is probably much less, even in time of
peace. But suppose that we admit that
it is three hundred millions; and now do
you know that, according to the United
States Census of 1860, the wealth of the
oountry-its real and personal property
was estimated (rather too low than too
high) at JttSeR. thousand millions9o II
you will just take your pencil aud cSpher
out The PEoPorti0n thas .three hGndfed
millions In specie bears % hfteen thous-
and millions Of property you will disooy-
er that it is-whatf fifty per cent? No!
Twenty-Five per cent? Nol-but exact-
ly tt0o per cent-that is, the whole
amount Of specie in the country never was
two per cent. or aEffftiethE part of the
Fapecta YHauaEue the nropeEtyt and If at
any one tins the whole Propest Of the
country had been forced % sale for the
specie in the country, it would not have
4 So Aka aNI1nv ne r,FsL
tual specie value ~ 7- ". a77E
Specie, or the currency that may stand
for it, is only the convenient and recog-
niZed medium for making an exchange
of products 1t represents property in
the market, property in transit, but new
er the fixed property of nation. Money
is tho lubricator. 1t don't make values;
it simply lubricates the machinery, and
keeps the wheels Of commerce running
smoothly. When too abundant, the
there is too much friction. 3ia@
And now Mr.. .Fnintheart, can you pick
flaw in our statement Is it not abso-
Lutte truth? But what shall we say to
Mr.. Weakness, who is, afraid Of banks
ruptcy, and Mr.. Neverthink, who is only
afraid of his bank-balance If Mr..
Weakness is in debt, it is now easy to
get ont. Pay up while money is plenty,
and be happy. n -.
If a mortgage on your land will be due
next year or any year provide for it now
while you are getting high prices for
everything you sell. But Mr.. Never
think, you have-ssy, bank-balance oi
$4,000. You are afraid, that gold. is go-
ing up or paper going down about out of
sight, and you wish to invest this balance
in some productive property. Will you
buy house worth only $40, 900 in specie,
and pay for it SIS, ,000in currency1 Sup
pose you wish to sell that house after the
resumption of specie payments, it will
bring you only $4,000, and you will
have lost exactly $4,000. Will that be
a shrewd operation? We think we can
put you up" to something better-some
thing by which your bank-balance ol
currency not only worth its face in gold
but a premium besides. Invest in Gov
ernment Bonds Buy the10>40's. Aftel
the war is over, they will be worth pal
in gold and. something overland they pay
a liberal gold interest from the beginning
If they are not safe, then no property il
safe. The same spirit of anarchy tha
would repudiate your property in tn,
national debt would repudiate it in you
house. Ifthe law will not protect yol
in one description of your property, j
will not in another, and your creates
safety as well as profit is in maintaining
and Strengthening the Government tha
maintains and supports the law.-Phild
Daily Telegraph st ... 70 ,.asl !. 81.