Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1864-06-16

"Gold is 100, and the property Of the
country win be destroyed" said Mr.
Faintheart.
"Gold is going to 200, and / shall be
broke" says Mr., Weakness.
81 am ruined! My bank balance is
only worth flfty-five cents on the dol
lar" says Mr.. Neverthink.
Let us stop moment, gentlemen, and
look into this matter. Facts are better
than fears, and principle is better than
prejudice. You are suiiering-yes suffer
ing, there Is no other word for thunder
the delusion that the amount of gold and
silver coin in the country is an equiva-
lent 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 probably much less, even in time
of peace? But suppose we admit 1t 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 and personal property
was estimated too low rather 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 tif-
teen thousand millions of property, you
will discover that it is-what fifty per
cent No. Twenty five per cent? MOI
but exactly two per cent, That is, the
whole amount of specie in the country
never was two per cent or flftieth part
of the specie value of the property; and
if, at any one time, the whole property
of the country had been offered for sale
for the specie in the country, it would
not have brought two cents on the dol
lar of its actual specie value.
Specie, or the currency that may stand
for it, is only the convenient and recog-
nized medium for making an exchange
of products. 1t represents property in
the market, property in transit but new
er the fixed property offs nation. Mon
ey is the lubricator. 1t don't make val
ues; it simply lubricates the machinery
and keeps the wheels of commerce run
ming smoothly. When too abundant
the wheels run too fast; and when scarce
there is too much. friction.
anu now, Mr.. Faintheart, can you
plceg. flaw in our statement? Is it not
absolute truth Bnt what shall we say
to Mr.. Weakness, who is afraid Of bank
ruptcy, and Mr.. Neverthink, who is on
ly afraid of his bank balance? If Mr..
Weakness is in debt it is now easy to
get out. Pay up while money is plenty
and be happy.
If mortgage on your land will be
due next year or any year, provide for 1T
now while you are getting high prices
for everything you sell. But, Mr.. New
erthink, you have-say, a bank balance
of $4,000. You are afraid gold is go
ing up or paper is going down about out
of sight, and you wish to invest this
balance in some productive property
Will you buy house worth only SlO,-
600 in specie and pay $4,000 in curren-
cy? Suppose you wish to sell that
house after the resumption of specie pay
ments, it will bring you only $4,000,
and you will have lost exactly SS,O00.-
Will that be shrewd operation? We
think we can "put you up" to something
better-something by which you can
make your bank balance or currency not
only worth its face in gold, but pre-
MUM besides. Invest in Government
bonds. Buy the 10-40s. After the war
is over, they will be worth par in gold
and something overland they pay lib
eral gold interest from the beginning
If they are not safe then no prop
erty is safe. The same spirit OF
anarchy that would repudiate your
property in the national debt would
repudiate it in your house. If the law
will not protect you in one description
of your property, it will not in another,
and your greatest safety as well as prof
it is in maintaining and strengthening
the Government that maintains and sup
ports the law.-fhila. Daily Telegraph.