Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1864-11-02

snecnlators, and these who purchase for re-
snle and not for consumption, are removed
| from the markets at one hlow, by that pro-
vision of the bill which authorizes and in:
structs the Government agents 10 impress at
| the cold value all produce found in second
hands aid held for resale. This would at
| once, and completely, cut the sinewsof spec
ulatiop; there would be no further purchases
| for resale, and those men who are now en-
gaged accumulating the largest tortunes Tor
| themselves, and who have contributed more
than:any others perhapsSto the constantly
increasing prices, would lind their oecupallon
gone. This seems,hard; but everything con,
nected with this war is hard. 1t is hard
that a large portion of our population should
be required to give up their private business
entirely, forsake and abandon their nome
/ and;its comforts, and stand for ~eeks, Tor
1 months and for yeais on the outer wall, as
sentinels for the good of the whole. Yet
they see tle necessity of this, and conform to
| t.nncompiainipgly. If it is necessary, then
that another portion should make greater
| sacrifices than they have, yet made; in fact,
begin to make some sacrifices-for they have
made none IS yet-will they not initiate the
noble example set them, and, to some extent
! forgetting self, devote their great energies
| to the common good. To this end there rs
room enough for the labors of all. There
should be .buttwo classes'inthea community
producers and those who are engaged Ell
ther as Government employees and officers,
or in, some other way in. assisting TO roll on
the revolution to a speedy:and glorious ter
-mination, accomplishing our. eternal sepaIa-
tion from that taccursed people With whom
we ara contending. -.
In the next place, those who purchase for
consumption consuming public-would
be removed from the market, oG il leftin the
market. would not offer higher prices than
those of 1860, for the. reason that they will
know that, tue Government is purchasing at.
those prices, as well for them as fr ITSELF.
the Government being authorized and re-
auired, you remember, to resell to consumers
at about cost In this way all competition
will be removed, and the Government left
almost the only purchasers-no to get the,
producer in its power; and then to cheaper.
commodities below the cost of production.
but to buy everything q. prices which the
laws of trade, when .undisturbed,. had fixed
as fair and compensating.- Thus stimulating
production to its utmost capacity, by bring
ing market to each mans door. at remuneri
ating prices.
Certainly no one would object to this ar
rangement, of selling his produce at the gold
value, little Government would ray for its
purchases in gold. This brings me to the
remaining leading featureof thebill, to wit:
the kind of currency which it is proposed the
Government shall use in this operation. Wei.
- . 81 e 81 40 thnf rOlH
itself shall be nsed. The gold is not in the
country; or. if so. it is beyond the control of
the Government. The currency .proposedto
be used, however. think would be equal to
gold, at least for the end in view. What is
it: II is.a new issue-do not start at that
to he caiied gold certificates, which is TO
be redeemed in gold, Elk months after peace:
and which the G Government, in the meantime,
shall receive back from the people in pay
ment nf all taxes and public dues, and in pay
ment OF such surplus as it may resell to con
sumcrs. VIII not these surroundings give
TO these certificates currency equal 10 gold?
Let Ls SEE. Money is nothing but medium
of making exchanges, by which the cumbrous
system OF bartering is dispensed with. The
people, who make these exchanges, will re-
ceive as money anything which they Can
again use as money--and they will receive
it at that value at which they can afterwards
pass tin other words, they will consent to
part with their produce for any convenient
money with which they can again purchase
from others what they may want. Now sup
pose farmer has hundred bushels Of wheat
for sale, and be desires with the proceeds to
purchase hundred bushels of corn-sup
posing that. these twD articles were at the
same gold price in the market, to 1'it 81
per bushel-he would very willingly take
SlO0 in gold for his wheat, because with
that hecould purcha. the corn. II now be
could, with hundred dollar gold certificate.
purchase the same quantity of Corn: would
he not just as readily take that as the coin
itself2 Certainly. Well this is precisely what
is proposed in Ibi.. schene, 10 wit that the
Government shall bury his wheat, giving in
payment the certificate, and sell to him the
corn. receiving in payment the certificate
which it had just put into circulation. This
would'give the certificate currency as gold in
that transaction, and so it would be in every
the citizen. Take another illustration. Yeu
wish to purchase your neighbor's horse. His:
value is $500 in gold, according tospIices
of 1850, and he is willing to take that sum,
as he needs money to pay taxes and purchase
supplies: IT you,were to offer him gold Ger.
tificate, with which he. could pay as much
taxes and purchase the same amount of sup,
plies as he could with $500 in coin, would
be not even prefer the certificate, being less
cumbersome than the gold ? This, then,
uId give the certificate currency as gold,
not onlv between the citizen and the Govern
ment, but between: citizen and citizen again.
There, could be,no doubt that if the:Goyern-
ment was prepared to redeem these certia.
Gates with gold at the Treasury, they would
pass just as currentas the gold: Now, al
though they could not be redeemed ineold,
yet they might be redeemed in what in these
times is better than gold, to wit: in produce,
in corn, wheat, bacon, and all the supplies
necessary tor subsistence, andin the payment
of taxes, which we are bound to furnish to
carry on The government. Thus these GER
t,ti6cates will constitute currency equal to
gold, at least to the extent Of being used. in