The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1864-06-23


across. This simple illustration answered
the complaints of half an hour. and not on
| " silenced but charmed the audience.
Ruined or Note
"Gold is 100, and the property of the
country vii be destroyed" says Mr.. Faint.
heart.
"Gold is going to 200, and I shal! be bro
ken," says Mr.. Weakness.
81 am ruined My bank balance is worth
only fifty-Gve cents on the dollar" says Mr.
Neverthink.
Let US stop moment, gentlemen, says
the Philadelphia Esenimg Telegraph, and
look into this matter. Facts are better
than fears, and principle is better than
prejudice. You are suffering. yes, suffer
ing, there Is no other word for it-under
the delusion that the amount Of gold and
silver coin in the country is equivalent to
its wealth. Now do you know that the
highest financial authorities have never es.
timated this amount at two hundred and
fifty millions, and it is probably much les 8
even in times of peace. But suppose that
we admit that 1t is three hundred millions.
and now do you know that according to the
United States census IF 1860, the wealth
of the country-its real aud personal prop
erty-was estimated (rather too low than
too high, at fifteen thousand millonsi If
you will just take your pencil and cypher
out the proportion that three hundred mil
loins in specie bears to fifteen thousand
millions Of property, you will discover that
it was-what fifty per cent? No! Twen-
ty-five per cent? No! But exactly too per
cent.-that is the whole amount of specie
in the country never was two per cent, or
a fiftieth part of the specie value Of the
property; and if at any one time the whole
property Of the country had been forced to
sale for the specie in the country, it 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 and recognized
medium far making an exchange of pro-
ducts. 1t represents property in the mar
ket, property in transit, but never the fixed
property of nation. Money is the luhri-
ator. 1t don't make values; it simply lu-
bricates the machinery, and keeps the
wheels Of commerce running smoothly
When too abundant, the wheels run too
East; and when scarce, there is too much
friction.
And now, Mr.. Faintheart, can you pick
a flaw in our statement Is it not abso.
lutte truth But what shall we say to Mr.
Weakness. who is afraid of bankruptcy
and Mr.. Neverthink, who is only afraid o
his bank. balance. If Mr.. Weakness is II
debt, it is now easy to get out. Pay W
while money is plenty, and be happy.
Ifa mortgage on your land will be due
next year or any year, provide for it now,
while you are getting high prices for every
thing you sell. But>Mr. Neverthink, you
have-say, Q note balance of $4,000
You are afraid the gold is going up or pa
per going down about out of sight, anl
you wish to invest this balance in some
productive property. Will.you buy house
worth only SIC, 900 in specie, and pay for il
SIS, 900 in currency? Suppose you wish
to sell that house after the resumption Of
specie payments, it will bring only SO, 200
and you will have lost exactly 5000
Will that be a shrewd operations We think
we can "put you up" to something better
something by which you can make you,
bank balance or currency not only worth
its face in gold, hpt premium besides :
Invest in Government bonds. Buy the
10-40's. After the war is over, they viii
be worth par in gold and something over
and they pay liberal gold interest from the
beginning. II they are not safe, then nc
poperty is safe. The same spirit Of auar.
chy that would repudiate your property in
the national debt would repudiate it in your
house. Ifthe law will not protect you in
one description of your property, it will not
in another, and your greatest safety: as vel
as profit, is in maintaining and strength.
ening the Government that maintains and
supports the Law.