The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1864-06-03
Brain Work..

Under Legal. Tender Law some things
rise faster in price than Others. Gold and
silver are always ahead, while labor inva.
riably lags behind. The others follow in
the order denoted above. The second row
of figures beaded by X y shows the rate at
which they, would have progressed until
now, if left undsturbed BY any other in
fluence than a Legal-Tender Law. The
third row, headed by y X, exhibits the
advance to which they have now actually
attained. For instance, stocks are over
five times their prices in 1860, and the re.
wards of unsklled labor over twice while
articles of food and wear have nearly trip
led themselves in paper money. Add up
the second row and it will be found to
amount to 2,l25. Add up the third row
and the result is the same showing that,
though the individual mutations have been
variously affected by war and legislation
the whole imitation is still the same--be.
ing as 2,l25 is to 900, or as 236 is to
100, or as 2a is to l. La other words, all
those things which contribute to the econ-
omy of civilization and life are 25 times
as dear to-day as they were in 1860 AS
a nation we have to give either now, or
now and hereafter, two and third times
as much labor and effort as we did before
to possess the same recompeuse, provided
we retain the present system.
There is no Sinking it T! 1t may be
put off till tomorrow, it may be hidden
from the people by forcing down gold aud
offering large bounties to troops, but as
sure as one end of steelyard goes down
to permit the other to rise, 50 sure will
the great law of financial compensation
knock at our doors add demand satisfac-
ton for diverting it from its proper course.
Then shall we find those destitute who
are now but pinched, aud those pinched
who are now enjoying fortune. Then
shall we see thousand speculative bubbles
burst into air, and tens Of thousands of leg-
innate enterprises fail fur want Of capital
Then shall We find labor in excessive sup.
ply and no demand, when both the thrifty
mechanic and the peusionless veteran will
together seek in vain for work. Then
will the merchant gaze modify upon his
patronless store, and the manufacturer
upon HE idle machinery. . And then will
thousand of acres lie fallow until tue ma
ton slowly RECEIVERS from the shock it has
received, and rouses itself to renewed Gu.
ergy and new triumphs in the arts of prog
ress and civilization.
All this might have been spared US all
the impoverishment of the poor and en-
ricbmeBt of the rich, which it will infalli-
bly, bring about, might have been avoided
had the Government trusted to the patri-
otto impulses of the nation, and while it
borrowed, forbore to plumber. May the
effects produced be no worse than the in
evitable ones we have pointed out! May
they cease with poverty and temporary
suffering! But there never was time
IN history when the possession of wealth
by class did not elevate that class above
their fellow'countrymen, and when that
elevation did not produce change in the
form OF their Government favorable to the
class SO elevated. But we forbear. Lib
erty is so precious possession that W atev-
er threatens to jeopardize its continuance,
be it ever so slight cause, we look upon
with apprehension and alarm. Here, in
this question of Legal Tender Money, We
perceive not little danger, but great
one. Not one that may be prevented by
written constitutions and honest public Of
6cers, but one that can override all forms
of government and control any statesman,
even against his most strenuous will. Kis
po'oer aohich society possesses against it.
set, and ,ohtch 1t should never delegate.-
A power which, like a note sigued in
blank, may be filled in at pleasure, and
used to the writer's own destruction.
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