Charles City intelligencer. [volume] (Charles City, Floyd County, Iowa) 1864-1866, 1864-08-18
Ruinod, or Not I

"Gold is $50, and the property Of
the country will be destroyed" says
Mr.. Fsintheart.
Gold is going up. and I shall be
broke" says Mr.. Weakness. .r
II am ruined My bank bslance
is not worth fifty cents on the dollar"
says Mr.. Never,hink. ""
Let Us stop q moment, gentlemen,
and look into this matter. You are
suffering under a delusion that the
amount Of gold and silver coin in the
country is an equivalent of its wealth.
Now, do you know that the highest
financial authorities have never esti.
mated this amount at over two hun
dred and Fifty millions, and it is prob.
ably much less even 10 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 aud personal
property-was estimated (rather too
low than too high) at fifteen thousand
millions. If you will just take yosr
pencil and cipher ont the proportion
that three hundred millions in specie
bears to fifteen thousand millions OF
property, you will discover that it is
what? fifty per cent? No! Twenty.
FIVE per cent? Not but exactly two
per cent-that is. the whole amount
Of specie in the country never was two
per cent. or a fiftieth part Of the spe-
Gle value of the property and il, 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 it's actual specie value.
Specie, or the currency that may
stand for it. is only the convenient
and recognized medium for making an
exchange of products. 1t represents
in the market, property in
transit, but never the fixed property
Of the nation. Money is the lubrica-
tor. 1t don't make values it simply
the machinery, and keeps
the wheels of commerce running
smoothly. When too abundant. the
wheels run too fast and when scarce
there is too much friction.
And now, Mr.. Fainthcart. can you
pick flaw in our statement Is it
not absolute truth! But what shall
we say to Mr.. Weakness. who is
afraid Of bankruptcy, and Mr.. Never
think, who is only afraid of his bank
balance. If Mr.. Weakness is in
debt. it is now easy to get out. Pay
mp while money is plenty and be
happy. .@ |
If 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. For
example, il your mortgage is due three
years from date, and you have the
and your creditor won't take
il, you have only to invest the amount
in United States notes bearing seven
and thrce-tenths interest per annum,
and it is certain to be ready for him.
But, Mr.. Neverthink, you have
say. a bank balance of $4,000 You
are afraid that gold is going mp or
paper going down about out of sight,
and you wish to invest this balance in
some productive property. VIII you
buy . house worth only $4,000 in
specie. and pay for it $4,000 in cur
rsncy? Suppose you wish to sell that
house after the resumption Of specie
it will bring you only
81 900, and you will have lost exact
" $4,000. Will that be a shrewd
operation We think we can put
you mp to something better some
thing 10y which you can make your
bank balance or currency not only
worth its face in gold but premium
besides. Invest in Government secu-.
rites. After the war is over, they |
viii he worth par in gold and some.
thing Overland they pay q liberal
interest from the beginning. II they
are not safe then no property is safe.
The same spirit of anarchy that would
rcpudiate your property in the nation
al debt would repudate it in your
house. IL the law will not protect
you in one description of your proper
ty it will not in another, and your
greatest safety as we'll as profit is in
maintaining and strengthening the
that maintains and sup
ports the law.-Phiiadaphia Telegraph.