The Alleghanian. [volume] (Ebensburg, Pa.) 1859-1865, 1865-02-16
EEign Prices.

so high, and he will generally give
sweeping answer that it is 'Lincoln's war"
Ask loyal man the same question, and
he will tell you it is the gold gamblers
and spectators. Men very often answer
financial questions without going through
the formula OF tracing causes to Effects
In common parlance, they jump at conclu-
sions, which are apt to be erroneous as
frequently as they are correct. 1t is we'll
understood the gold gamblers Of New
York are pack of despicablo traitors,
who since the commencement of the war
have had but two objects in view, namely,
to embarrass the Government in every
possible manner, and 10 fill their own
pockets. But their power for evil is
limited one. Let US inquire what has
enabled Wall Street to run up the rates
of gold, as they have done, aud thus COM
pei twenty millions of people to pay tri5-
ute in the shape of exor5itant prices for
everything they use. The answer is at
hand--the high rates Of exchange. Had
there been no foreign demand for gold,
it would never have reached . figure high
er than twenty five per cent. Of an advance.
What has made exchange with other ma
tons high? Not simply the fact that our
foreign debts have to be paid in gold and
silver. This would not trouble us at all,
if the balance of trade were not against
us;-and here has been the whole trouble,
and the cause of all our financial distress.
We hare imported more than a9e hare er-
ported, and the demand for gold to pay the
balance against us has enabled the New
York gamblers to do what they have done.
Our fathers and mothers in the times of
the Revolution, because the British i'm
posed a tax on tea, t0ent acithom II for
years. The same patriotic sentiments
brought into practical use now, would save
Us hundreds of millions of dollars. With
out practising an iota of self-denial, the
great bulk OF what We pay to other nations
in gold might be kept at home. If our
people had the patriotism to dispense with
luxuries in dress and living during the
war, our expectations in products would
pay our foreign debt, and gold range not
above l25. Instead of this, however,
American men and women have gone and
are going headlong into extravaganza,
without particle Of regard to economy
or prudence. The world never saw such
financial recklessness as is exhibited by
this nation at the present time. Men are
abandoning in disgust their former COM
Portable homes, and are building marble
palaces, costing millions of dollars, upon
which are lavished other millions of dol
lars in the shape of imported furnishings
to correspond. In articles Of dress, every
thing is upon the same scale. American
goods are passed by with contemptuous
sneer, and the most costly foreign fabrics
brought into requisition. Women sweep
the street with dresses costing thousands,
with other thousands added in the way of
adornment.
Since the commencement Of the war,
men have made fortunes at single turn
of the wheel but instead of saving these,
they seem determined to rashly throw them
away. 1t seems TO be the prevailing rule
that where men make money fast, they
spend it faster. There exists widespread
mania for fobbing greenbacks, but this
does not nearly equal the mania for get
ting rid of them when once accumulated.
The result Of this state of things through
out the country has been the consumption
of large amount Of imported goods,
which has drained the country of gold,
made the article scarce and high-prced,
and enabled spectators to carry every
thing before them. In this way, the
many have been virtually robbed of mil
lions, to the enriching of the few
The question is asked, When will goods
fall? We venture the prediction, not so
leng as SPECTATORS, aided and assisted by
foolish and extrayagant public, can pre-.
vent The only remedy is to retrench.-
BE less extravagant-more saving. Live
in your old house until building materials
come down to reasonable prices Do
without luxurics. Wear last years coat