Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1864-06-25
Ruined, or NOtg

"Gold is 100, and the property of the
country will be destroyed" SAYS Mr..
Foiniheart.
Gold is going to 200. and shall be
broke" says Mr.. Weakness.
al am ruined Nv bank balance is
worth only fifty cents on the dollar" says
Mr.. Neverlhiuk.
Let us stop n moment, gentlemen. and
look into this matter. Facts are better
than fears, aud principle is better than
prejudice. You are suftring-ves, suf
ierlrg there is no other word for it--un-
der the delGsion that the amount Of gold
aud silver coin in the country is an
equivalent Of ils wealth Now. do YOU
knov that the highest financial autlsOrities
have never estimated this amount ri over
two hundred aud fifty millions. and il is
probably much less, even in time OF
peace.
But suppose VIC admit that it is three
hundred millions: and now do Won know
That accordi q Ia the United Sta ties GEN.
sus of 1860. the wealth of the country,
its real aud personal property. was esti
mated (rather too low tian tos' hIgh)
at fifteen thousand millions If YOU
viii just take your pencil and cypher out
the proportion tina: three bundled mil
lions in specie bears to fifteen Thousand
millions of property, you will din cover
that it is-what Fifty per cent No.
but exactly two per cent.-tbat is, tho
whole amount Of specie in the country
never was two per cent, or tiftoth
part of the specie value of the property;
aud if at any one time. the whole pro
pcrty of the country hal been forced TO
sale for the specie in the country, it wo'd
not have brought two cents on tho dollar
Of its actual specie value.
Specie, or the currency that may stand
FOR il, is only the convenient aud recog
nized medium for making an exchange
of products. 1t represents property 10
the market, property in transit, but new
CT the fixed prnperty Of nation. Mon
CT is the labrica;or. 1t don't make val
ues; il simply Iub'icates the machinery.
ank keeps the wheels of comnercs run
ming smoothly. When too abundant, the 1
wheels run too fast; and when scarce,
there is too much friction.
And now. Nj. Fanthcart, can you
pick flaw in our statement Is it not
absolute truth But what shall we say
10 Mr.. Weakness. who is afraid OF bank
ruptev. and Nc. Neverthink. who is only
afraid Of his bank balance Ii NJ.
Weakness is in debt, it is now easy t. get
ont. Pay up while money is plenty and
be happy.
II mortgage on your land will be
due next year, ar any year, provide for it
now, while you are getting high prices
for everything you sell. But, Mr.. New
erthink, you have-say bank balance
of $4,000. You are afraid that gold Is
going up or paper going down about out
of sight. and you wish TO invest this bal
ance in some productive property. Will
YOU buy house worth only $1,000 in
specie, and pay for it SIS 900 in curren-
cy Supp sc You wisi. 10 soil that house
after the assumption Of specie payments,
it will bring you only $40 600, and YOU
will have lost exactly $4,000. Will that
be a shrewd operation (! We think we
can put YOU up 10 something better
something by which you can make your
bank balance or currency not only worth
its face in gold, but premium besides.
Invest in Government Bonds. Buy
the l0.40's. After the war is over, they
will be worth par in gold and something
overland they pay liberal gold inter
est from the beginning. If they are no
safe. then no property is safe. The same
spirit of araIchy that would repudinte
Your property in the National debt wo'd
repuliate i, in your house. If the law
will hot protect you in one description OF
your property, it will not in another, and
vonr greatest safety rs well rs profit is in
maintaining and strengthening the Gov
ernment that maintains and supports tue
law hila. Bulletin.