The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1865-12-06
What . Hard Currency EalId %.

There is a general complaint in every
section of this State and olbers Of the scare.
Iiy Of houses. Although renls are ev.
erSwhere enormous, capital seeks every
other ayenue for Investment raibes sflan il
the erection Of dwellings, The reason tor
this is succinctly given in the following
paragraph from the New York Tribune !:
!" Brick, stone, lumber, glass, labor
everything, in short--is so high priced III al
a house which will cost SI2 ,oeO 10 build
cannol probably be sold for over $4,000
when our currency shall have hardened
again 10 par with coin. So the capitalist
declines 10 build, lending his money or
buying stock instead Contract The cur
Feucy Tomorrow 10 par, and labor maGeri-
ais, &c, must fall ia currency price. when
such house as would now cost Sl2 600
can be boil, for Ss 900 Then house build
log. &c , can and will be resumed on the
largest scale. giving employment TO thou
sands OF mechanics and laboreIs."
ltis thus 'abundanhy apparent that while
the present inflated currency Of paper ex-
lists, .he erection of buildings and tenant
hoases will not keep pace with the de-
nard, but il is equally apparent that re
turn 10 specie payments will involve a cor
responding loss,to capitalists, no matter
whether their investments have been made
in houses, merchandise, lands, or other
properly, except stocks and government
bonds. AS the government cannot depre-
ciate It's own currency, and will always be
obliged to consider a paper dollar equiva
lentr 10 one OF gold-even after a return 10
specie, sbovd that lime ever come-about
the cnly species of property tha, cannot
suffer corrsspondiDgly by a return to gold
and silver, is government stocks These
SOCKS, therefore, have been preferred By
capitalists, and capital that might have
been invested in manufactures and real es-
tate goes into the government Golfers Thus
The government, while providing itself with
the wherewiih to Gil the immense gaps
created by reckless officials, stands as an
immense obstacle to The growth of the
country and The development OF its re-
sources.
Ii is true. government bondholdsrs, whose
interest is not stipulated TO be paid in coin,
may lose portion of their interest, bat
they will not suffer 10 principal equal 10
him who invests ir houses, &c. With the
exception to government creditors all other
capitalists seem adverse 10 a return Of spe-
Gle payments, asserting as a reason that
their losses will be immense. This, how
ever is rot true, in fact A man who own.
ed property 10 the amount of $4,000 pre-
vious TO the Initiation Of the currency, has
had that properly enhanced TO tie present
value Of SI2,OOo. A return to specie pay
menfs would onty bring his properly back
20 lis original value which is its cal VAL
ne in gold Besides this, many persons,
now wealthy, were not so before the cur,
rercy became inflated. They have gone
up with The initiation and caa afford to
-hare their gains with those from whom
they have acquired their wealth in so short
a time. / is certainly true that there
would be some "tumblesp in a sudden re-
turn 10 specie payments, but every day ia
more fully demonstrating tue fact that ii is
necessary for he good OF the whole coun-
try. The advantage of the few, should,
therefore, be made secondary to the great
good Of the maur.-Pairiot & Uaion.