The Goodhue volunteer. [volume] (Red Wing, Goodhue County, Minn.) 1861-1864, 1864-06-29
Ruinedor Not.

+ %2>@s @s1@a Ruined. or Not s;t%sa1taii
H.. - =. 5st4ts:I555 I5 81 -. @gsis1& st$' ys3iszf$
Gold is 100. and the property : Of the
country will be destroyed, says Mr. Faint.
hosrt. 1'2"* 4Ss@1-.>. ~ @<$s1a2- ? sS'h 3$@.#
T Cola is going TO 200, and shall b brske
says Mr.. Weakness. 's <s,z' :>'' @='5.f'''
am ruined Ny bank balance ie worth
only City five cents on the dollar, says Mr..
Nsverthink. 7' SO ~, = -. : >.@- S['
Let US stops moment, gentleman, and
look into this. matter. Facts are better
than fears, and principle better than preju-.
dice: You are suffering yes, sutfitriny );
there is no other word for it-under the de
lusien thatythe amount of gold and silver
|coin in the country is an equivalent 81 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 1850, the wealth
Of the country-its real and personal prop
Ierty-was estimated (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 mil
lions in specie bears to fifteen thousand
millions OF property, you will discover that
it is-what l? fifty per centnm? No.
Twenty five per centum No; but ex
ac'ly two per cent.-that is, the whole
amount Of specie in the country never was
two per cent, or q fifth part of the specie
value Of the property; and at any one
tie the whole property If the country had
been forced to sale for tho specie in the
: country, it would not have brought two
cents on the dollar of its actual specie val
ue. -.'t =. q 49,
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 of a nation. Money is the luhri
Icator. 1t don't make values it simply
'ubricates the machinery, and keeps tht
wheels Of com ruerce run smoo hly: Wher
too abundant, the wheels run too fast anc
when scarce, there is too much friction.
4 And now, Mr.. Faintheart. can you picl
q flaw in our statement :? Is it not absolute
truth !? But what shall we say to Mr.
Weakness, who is afraid Of bankruptcy, ant
Mr. Nevertbink, who is only afraid of hi
bank balance I? II. Mr.. Weakness is j,
Idebt, it is now easy TO get out. Pay. u
while money is plenty and be happy. ,
! ia mortgag, on your land will be .du,
next year, or any year, provide for it nov
while you are g ting high prices for every
thing you sell. But Mr., Never. hink, yo,
have. say, bank balance ofs2OOOO.- 10,
are afraid that gold is going up or paper 60
ing down. about out Of sight, and you wish
to invest this balanc,, in, some productive
Iproperty. Will you buy house worth on
,I'y>S1o,0oo j in specie, and pay for it $18;oOt
currency ? Suppose you wish to sell that
house after the resumption Of specie pay
p'ents, It will bring you only $4,000 Ant
you will have lost exactly $4,000. VIII
shat be shrewd operation. Wa think w
can put you up TO something better
s"me!hing by which you can make your
bank balance Or currency. not only worth
its face in gold, but premium besid IS. In
vest in Government bonds bny the 10 4Os
> After the wsr isoyer, they win be vortl
par in gold and something over, and the
8 lpay = libe,al gold interest from The begin
, ming. 1fthey are not safe, then no proper
~ is safe. The same spirit Of anarchy tha
!, wea'd repudiate i in your house. II th
law will not protect you in one descriptio
jof property, It viii no. in another, and ron
sIgreassst safety as well as profit IS in main
ttaining and strengthening the GoTernner
'|that maintains and supports the law.
81 Desert or Sahara.
Il Perhaps no more horeless enterpris
1 could be undertaken than to, astemp. 70 =
! deem the gr,,at African desert of Saba,
! where no rain ever fills, and there are b
occasional OASIS to give relief 10 ihe wea,
I land faist:ng caravans that traverse i. ]