The Lansing state Republican. [volume] (Lansing, Mich.) 1855-1874, 1864-03-02
aqrltulturul anu Dumsstlt.
PROPERTY or FARMERs-FALL IN
PRICES.

We have on several occasions advised our
rsaders TO avoid debt as much as possible, and
TO pay up mortgages and other debts as fast
they can. in view Of times that are coming, when
money will be less plenty than il is COW.
We have not needed the admonitions OF otn-
ers TO satisfy US, that present high prices, and
prosperous times caunot continue, without a re
vulson sooner or later, az such result Is one Oh
the laws Of finance, from which there IS 10 es
cape when it becomes necessary TO bring an IN
fated currency 10 a specie standard.
W. notice that it appears 20 be the ann OF
portion Of the press To make the people oeheVe
that il l. not advisable 10 curtail expenses, nor
10 diminish indebtedness at all and We sure
OF being highly prosperous people for many
wears 10 come. II our readers are disposed to
believe such statements, We hsae no objections ;
but we warn them TO be aware, least they be de.
ceiged Secretary Chase, probably understands
this matter as well a. editors Of partzan papers,
and he has recently had issued. By his advice
and conse. c rcalar 20 all new National banks
through Mr. McCuHoch, the Comptroller OF the
Currency, ofthe following report:
"a Bear constantly ia mind although the loyal
States app,ar superfeiaiIy TO be t'a a prosper
ons condition, that such IS not the fGct. That
while the government is engaged m the sup
presaOn of a rebellion Of unex4mpled herceness
and magnitude, and is constantly draining the
country Of its IaOoring and producing popula-
ton. and diverting its mechanical industry from
works Of permanent value to the construction OF
implements Of warfare, while cities are cr0Eded
and the cOuGtry is 10 the saUe extent depleted,
and waste and extrsvagance prevail as they new
err before prevailed in the United States, the ma
ton, wha.sver may be the external ind'ea'ions,
Is not pfosperIng.
IN IN "A
necessity, and must be prosecuted for the pres
eryation Of the government, no matter what NAV
be it, cost; but the country will unquestlOnably
be The poorer every day it is continued The
seeming prosperity Of the loyal States Is owing
mainly 10 the large expenditures OF the govern
ment. and the redundant currency which these
expenditures seem to render necessary
Keep these facts constantly in mind, and
manage the affairs OF your respective banks with
a perfect consciousness that the apparent pros
peritv Of the couutry Gill be proved to be unreal
when the war is closed, if not before; and be
prepared. by careful management Of the trust
committed to you, to help to save the nation
from fiuAncizl collapse, instead OF lending your
influence 10 make il more certain and more Sc
we're"
This, you will please note, is Government
document, issued by authority at Washington. 1t
will not OF course, be published IN papers that
have denounced any probable reaction in our
monetary affairs
Again Mr. GreeIey sage in ths TrithIne Of
Dec 18th:
"Were the war ended to-day, We should in-
mediatey begin to contract our CURRENCY by
funding our floating greenoack debt. This
would inevitably produce decline in current
values, which cOnd not be arrested until our
paper currency had nearly or quite attained the
par of specie. Then the house or farm now
selling for 500 would be worth but $lO.-
600 or thereabout, and stocks. produce, goods.
aud nearly everything else, would experience
corresponding reduction in prices. This need
not be disastrous, provided people will get out
and keep out OF debt. Whoever has property
aud owes debts. ought to sell aud pay as fast as
possible. even though considerably below cur>
rent rates"
Here are our views, "a previously published,
corroborated in full. only that We think that
farm worth SIS 900 now, will not be worth SlO,-
600 when the financial collapse comes upon us.
If, however, every man should be prepared for
such ali emergency. It's effects will not be disas
trous-RuraL American.