Mineral Point weekly tribune. (Mineral Point, Wis.) 1859-1868, 1864-08-24

1t is quite the custom just now to attri-
butte the present high prices to an expan-
ded currency. We are fippantly told
this is the one great cause of commercial
arrangement, and that if the cure cy
were only reduced to the standard of three
years ago, prices would come down in the
same proportion. Let US think moment.
and we shall see the utter ahsurdity of
such conclusion. No matter what is
the medium for making exchange, or what
is currency, or what Is lawful money
whether it be gold or bank-notcs, or treas
ury notes-ear prices always were, and
always must be nigh prices. Europe
learned it during her Napoleonic wars /;
we learned it in the war Of 1912, and the
same stern teacher compels US to supmit
to it now The reason is clear and simple
Production is diminished, and, by the
,cGSte Of war, consumption is increased.
The war draws the farmers sons from
the plow, and fewer acres are sOwn and
smaller haryests are reaped. The me
chanic arts suffer in the same proportion.
Scarcely less than twO-tifths of our adult
male population are now devoting all their
time and energy to putting down the re-
belliOn. tf these. vast number are in
the field W tn our brave generals. a large
part man our ships Of war, now counted
by hundreds, and many are in hospitals;
Hhile those nmployed in the navy yards,
iron works, machinc-shops, and IN the
manufacture of military clothing and
equipments, anI in producing munitions
and supplies, swell the aggregate to the
limit we have named This great class Of
producers cannot be withdrawn from their
ordinary pursuits without a great diminu-
ton in the products ofthe country When
the supply IS greatly diminished, and the
demand not only continued but increased,
prices must advance There is no possible
help for it. IF we could return to 4 specie
basis tomorrow, it would still be n war
basis, at war prices
There is but one exception to this adj
vance in prices, and that is the Govern
ment bonds, and they are no exception to
the rule, and OILY follow the general law
of supply and demand The necessities
Of war have made them abundant. and
therefore they are cheap but when the
war ends the supply will cease and they
will be dear-and the man who invests in
them now is sure of liberal profit.
\ reduction of the currency will Je
well, and we have the official assurance
of the Secretary Of the Treasury that it is
now taking place, but it is not the infalliblc
panacea for financial disorder that many
suppose Mr. Cisco, the Assistant Treas
urer Of the United States at New York.
states that he has cancelled fortv one mil
lions Of interest bearing legal tenders
within two weeks, and that he now holds
thirty millions of ereenbacks-and vet
bread and butter, wheat and corn and cloth
are no cheaper.
The first cause of the increased cost Of
all commodities gold Included. is aItogeth-
er outside of the currency \ redundant
currency increases the misfortune. but
does not create it. But suppose the Gov
ernment does contract the currency:
what's 70 prevent the State banks. that
give no security circulation from quad
rupling thea papeI"TssueS, as they have
already done in many parts Of the country?
What. then. can be more absurd than to
make the Government or Treasury De
partment the scapegoat for evils that are
simple consequent upon the most gigantic
war the world ever knew If the body
has fever Is it just to make tire hand
that eupplies It's wants responsible for its
unnatural condition. -Boston TrGUeUer,
Tune 23d