The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1864-06-30
NO. ~,
Ruined or Not 2


Ruined or Not7
"Gold is 100, and the property of the
country will be destroyed, says Mr.. Faint
heart.
"Gold is going to 200, and l shall bo
broke" says Mr.. Weakness
| 81 am ruined My bank-balanee is
worth only fifty cents on the dollar"
says Mr.. Neverthink.
Let us stop moment, gentlemen, aud
look into this. matter. Facts are better
than fears, and principle is better than
prejudice. You are sutfcring-yes, suf-
fering, there is no other word for it-un-
der the delusion that the amount of gold
and silver coin in the country is an equiv
alent of its wealth. Now do you know
that the highest financial authorities have
never estimated this amount at over two
hundred and fifty millions, and it is prob.
ably 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 Cen
sus OF 1860, the wealth of the country
Its real and personal property-was esti-
mated (rather too low than too high) at
Fifteen thousand millions !? If you will
just take your pencil and cypher out 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 No but exactly two per cent.
that Is, the whole amount of specie val
ue 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 recog-
nlzed medium for making an exchange of
products. 1t represents property in tho
market, property in transit, but never the
fixed property of nation Money is the
lubricator. 1t don't make values ; it SIM
ply lubricates 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.. 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 bank
ruptcy, and Mr.. Neverthink, who is only
afraid of his bankbalance If Mr.. Weak
knees is in debt, it is now easy to get out.
Pay up while money is plenty, and be
happy.
If a mortgage on your land will be due
next year or any year, provide for it now
while you are getting high prices for ev-
5rything you SELL But, Mr. Neverthink,
you have-say a 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 the balance in some
productive property. Will you buy a
house worth only $4,000 in specie, and
'ay for it $4,000 in currency? Sup
,ose you wish to sell that house after the
assumption of specie payments it will
'ring you only $4,000, and you will have
ost exactly 900. Will that be shrewd
peration? We think we can ''put you
p" to something better-something by
which you can make your bank balance
r currency not only worth its face in gold
'ut premium besides Invest in Gov
rnment Bonds. Buy the 10-40's. Af-.
er the war is over they will be worth par
n gold and something over, and they pay
liberal gold interest from the beginning.
f they are rot safe, then no property is
afe. The same spirit of anarchy that
'ould repudiate your property in the ma
ioual debt would repudiate it in your
ouse. If the law will not protect you il
ne description of your property it will
OF in another, and your greatest safety
S well as profits is in maintaining and
the Government that main
aims and supports the law.