The Goodhue volunteer. [volume] (Red Wing, Goodhue County, Minn.) 1861-1864, 1864-06-29

Ruined or Not.

Ruined or Not. 7 49,.
Gold is 100. and the property Of the
country will be destroyed, says Mr.. Faint
hesrt.
Gold is going 70 200, and shall be broke
says Mr.. Weakness.
| am ruined Ny bank balance is worth
only fifty five cents on the dollar, says Mr..
Nsverthink.
Let us stopa moment, gentleman, and
look into this matter. Facts are better
than fears, and principle better than preju-
dice. You are suffering suffering );
there is no other word for thunder the de
fusion thatsths amount of gold and silver
coin in the country is an equivalent Of its
wealth. Now, do you know that the high
est financial authorities. have never estimat-
ed 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 country-its real and personal prop
erty-was es mated (rather too low than
to-" hi h) at fifteen thousand millions #
you will just take your pencil and cypher
out the proportion that three hundred mi
lions in specie bears to fifteen thousand
millions 0; property, you will discover mat
it is-what ? fifty per centum? No.
Twenty five per centum No; but ex
,ac ~ two per cent.-that is, the while
amount Of specie in the country never was
two per cent, or a fifth part Of the specie
value Of the property; and if at any one
I'll the whole property o f the country had
been forced to sale for the specie in the
!, country, it would not have brought two
cents on the dollar of it's actual specie val
|ue.
Specie, or the currency that may stand
for it, is only the convenient and recognized
medium for making an exchange Of pro
ducts. 1t represents property in the mar
ket, property in transit, but never the fixed
property ola nation. Money IS the luhri
Gator. 1t don't make values it simply
'ubricateS the machinery, and keep; the
ws.cciS OF commerce run smoo hy. Wher
too abundant, the wheels run too fast and
! -, &C.
And now, Mr.. Faintheart, can you pick
flaw in our stat e,ncnt? Is it not absolute
truth ? But what shall we say to MIR
Weakness, who is afraid Of bankruptcy, anc
Mr.. Neverthink, who is only afraid of his
bank balance If Mr.. Weakness is il
debt, it is now easy to get out. Pay VI
while money is plenty, and be happy.
! ia mortgage on your land will be due
next year, or any year, provide for it now
while you are ting high prices for every
thing you sell But Mr. Never hinls, yor
have. say, bank balance Of S2O,OUO Yo,
arc afraid that gold is soirg up or paper 60
ing down. about out Of sight, and you wish
to invest this ba'anc, in some productive
property. Will you buy house worth on
'y>S 10000 in specie, and pay for it Sl3, oO(
currency? Suppose you wish to sell that
house after the resumption Of specie pay
p,ents, it will bring you only $1,000 ant
you will have lost exactly $4,000. Wi
that be shrewd operation. Wa think We
can 'pnt YOU up to something better
SINE hing by y hich you can make you,
bank balance or currency not only worth
it's face in gold, but premium besid :. In
vest in Government bonds buy the 10 4os
After the war is over, they will BE- worth
par in gold and something over, and the,
pay a liberal gold interest from the begin
ming. II they are not safe, then no proper
~ is sale. The same spirit OF anarchy tina
we1'd rcpudIate it in your house. II ID
law will not protect you in one deseriptio
of property, it will no. in another, and you
greatest safety as well as profit is in main
taining and strengthening the GoEernmer
that maintains and supports the law.
I Desert of Sahara.
Perhaps no more horeless enterpris