The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1865-07-22

0s nation, be STORMY, strongly and adequately puI
nd DO this q course not 70 discosfssS S.
eouraged but To show what We have 70 NEE. an s @
70 avoid The proposed and initiated scheme cans iof
WIN be felt some time after has been brought 70 COM
plstion. Not only will subscribers feel II on account OF
sDSscrhss snS others win feel in its influence upon
business relations 30 far so good Tor IN the proportion
:.s Ss win
Aken from the subscribers
cannot exhibit this better than by proposing simple
between Of your forty thousand dollar subscribers
Suider brickayers and carpenters employed by the
htter The forty thousand dollars Is taken from its
srdIpary work of stimulating labor and made Of 10
Nv the debt The subscriber had he not used in this
Nv His liberal donation to the he not only finds him.
elf short Of forty thousand dollars but the builder loses
accrued Thus all contractors, ito old express
son) middlemen, those who como between capital
and labor will to certain and considerable extent suf.
anothers generosity This will Of course have its effect
upon mechanics and workngmen generally, for the con-
Sewer men, and his profits being smaller he will
every endeayor TO get them at lower rate The SLACK
In this way the bountifui patriotism orech men will
not exclusively tighten their heavy pockets but be ne
n graduation, upon all classes. And notice how
these rich men will be partly compensated. Con
tracts TO keep to the example adduced) will be
fewer and given more reluctantly, labor will be
made cheaper, and thus the capitalist will be
abIe to get more work done lin other words, large
commodity than he could have done II he and bis FELLOW
capitalists had not assisted this patriotic scheme SO
undoubtedly true Is this principle that II all the capltai
q the country above certain amount were taxed twenty
per cent those who paid the tax would IN the enc take
hardly greater share of the burden than the rest
Introduc ny single instance to explain my meaning,
have spoken only Of rich subscribers but the same arg
nent applies to all contributors, Of whatever amount
The contractor who subscribes cannot employ 30 many
the sboTer who mas rs 40
In the cheapening OF the necessares OF LIE
II might seem, indeed, that those who supplied these
accessories would feel the effect Of the gigantic conr
button than Others because what they sell can never
70 out Of fashion or be superfuous In fact however,
economy exercised by the whole people would tell
most sensbly upon them. 1t must be remembered that
manufacturers OF stus and cloths, and still more, grow
ers, depend upon small profits upon large bulks. Any
serious dimnution of that bulk might just kick the
beam" and change the profit into loss
There IL argument partially true that az the bulk
II the debt held In the country the liquidation OF the
debt II it do enrich will not impOverish the country
that II viii be but the changing hands Of good deal Of
bor There il truth In this, but must not be mised
By IT, What has been going for the last four years.
has & What as Ssn
and such like What then has been done with the gold
where has that been sent TOT Sir it has to great
there much private hands II is evident that the
gold is not in the country with which 70 buy up all the
IT be- %
backs or paper Of any Sort II the attempt were made
Ne endeavors realize which would follow would raise
seen during the
Az concluding caution, let me point out faliacy
which underlies statistical statements OF the sub
ct great mistake to suppose that there exists
h the country In currency the actual sum Of what the
Individuals Of the country are said to be worth TO use
familiar illustration suppose that the King Of the Can
nbal Islands possessed the only capital Of that arch
pslago say million dollars He would spend part Of
hat money in paying butchers bakers and cothiers,
part ON fleets armies and SO on great portion per-
kAps nearly ALL would be afoat In the country; some
always going out for and iuxures and some
coming IN the ahaDo OF and fees which would
- the king wages for keeping the in work
In condition. If he traded with other countries he
night increase his capitals but whether he did 30 or not
san the greater part Of his money would be
-: a: no of R%ss IT. Thus 'A 70 Keep to the
tAsa Of one million, the king would say that
b worth million. The butcher might boast Of his
$780, the baker Of his the tailor OF his So
end on and yet the whole amount Of currency IN the
country would not exceed the one million before men
uoned. The fact 10 that wealth does not consist Of
money, but IL only represented by and IN every coun
y the CONS BY turns the wealth e.
principles and certainly not shrked dhcnlties desire
b make few suggestions First. would say that all
hope should wish to do in first great effort
dsbt; say Eve hundred q Paper payment should
oy no means be r." 20 versions should be invited
10 assist In two Vi. rect contributions and
b. undertake. I've gnia 'i 9 paper subscribed
eording to ne rNs car % ths date OF the suoscrp
zion. r. 81 ile depre 'iaton Of the paper
N o. vn .ns ~ . cqgLs,n eXlet assist government
49, s-Nc.ai+ slne syais- 81 organizations
s~rail De 500 g ~ WA'ch he ame should DC
.4csr4t sfdarhlr.u before cVesV - the country.
efsv cue sout ' Cfl geo w csn.g ~ to the very
rr u hf si0ty fgl Ereel Oocssca luires great
To a'r. l1 Vati cfis.l itfhfierh neH should not
= sve' 4- it.1...h about t-air personal &. sunes.
Taa .a e. ne Fftaa ~ Ancelling Bonds.