Civilian & telegraph. [volume] (Cumberland, Md.) 1859-1875, 1864-07-07
Ruined, or Not!

r7..-. CO. uz--
Ruined, or Not!
Gold is 100. and the property Of the
country will be destroyed" says Mr..
Faintheart.
Gold is going to 200. and I shall be
broke" says Mr.. Weakness.
II am ruined! My bank balance is
worth only fifty cents on the dollar" says
Mr.. Neverthink.
Let us stop moment, gentlemen. and
look into this matter. Facts are better
than fears. and principle is better than
prejudices. You are suffering-yes suf.
frtng, there is no other word for it--un-
der the delusion that the amount Of gold
and silver coin in the country is an
equivalent of it's wealth. Now. do you
know that the highest financial authori.
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 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 coun.
try-its real and personal property-was
estimated (rathcr too low than too high
at fifteen thousand millions? If you will
just take your pencil aud CIPHER out the
proportion that three hundred millions in
specie bears to fifteen thousand millions
property. you will discover that it is
what? fifty per ccntumf No. Twenty
FIVE per centum? No; but exactly two
per cent-that is, the whole amount Of
specie in the country never two per cent.
or fiftieth part Of the specie value of the
property; and fiat any one time the whole
property of the country had been forced
to sale for the specie in the country, il
would not have brought two cents on the
dollar of its actual specie value.
Specie, or the currency that may stand
for it. is only the convenient recognized
medium FIR making an * change Of pro-
ducts. 1t represents property in the
market, property in transit, but never
the fixed property of Il natcn. Money is
the lubricator 1t don't make values; ii
simply lubricates the machinery. and
keeps the wheels Of commerce, running
smoothly. When too abundant. the
wheels run too fast; and when scarce,
there is too much friction.
And now Mr.. Faintheart, can Jon pici
flaw in our statement Is it not abso-
lutte truth? But what shall We say tc
Mr.. Weakness. who is afraid Of bank.
ruptcy. and Mr.. Nevcrthink. who is only
afraid of bis hank balance? II Mr..
Weakness is in debt, it is now easy to
get out. Pay up while moncy is plenty,
and be happy.
If 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. BIT Mr.. Never
think, yoa have. ssy. bank balance
of $50, 900. You are afraid THAT gold is
going up or paper going down, about out
of sight; apd you wish to invest this
balance in some productive property.
viii You bay house worth only $40.
900 in specie. and pay for it $4,000 in
currency? Suppose you wish to sell tina,
house after the rcsurSp,ioo Of specie pay
mcnts. it will bring yoa only $40. 900,
aud You wiz have lost exactly $4,000.
viii chat be shrcwed operation ? We
think VIC can put you up" to something
be,tcr-somettips by which you can
make your bank batance Or currency not
only worth its face in gold, but pre-
MUM besides. Invest in Government
bonds; buy the 10 4O's. After the wal
is over, they will be worth par in gold
and something over, and they pay libe-
raj gold interest from the beginning. Il
they are not safe, then no property is
safe. The same spirit of anarchy that
would rcpudiate your property in the
national debt. would repudiate it in your
house. If the law will not protect you
in one description Of property. it will not
in another, and your greatest safety is in
maintaining and strengthening the Gov.
eminent that maintains and supports the
law-Erchange.