The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1866-02-06
COLUMBIA.
Tuesday Morning, February 6, 1868.
High Priccs---The Currency.


advertisements OF some of our mer-
chants, that they are determined to
reduce the prices of the staple articles
Of consumption to a living minimum.
The depreciation of the currency
might have been a pretext for in
creased rates of merchandise, but
this depreciation of the currency has
ceased,, Gold has fallen in price, and
the local causes which made heavy
articles of transportation cost heavy
per centage on their original value,
has passed away. The South Caro-
lima Railroad is completed, and there
is no reason why goods should be
kept up at the old prices. The cur
rency is improving, and the rates of
freight are reduced, and nothing but
the Unsuitable greed of gain can keep
up prices.
There is little or no money, and
but little trade. Whatever little
currency is in the market, is held by
the merchants or shop-keepers, and
they take advantage OF this state of
things. True, there are exceptions,
and by and bye, they may have to
succumb, but until that period, we
must starve or pay starving prices.
We will honor the men who, although
their stocks of goods on hand have
cost them much more than they can
lay them in store now for, will reduce
their prices to q fair profit on the
present cost, with the reduced trans
portation.
There are many remedial means
proposed, and as the Richmond Dis
1oatcA observes, if there were any such
thing possible as voluntary and
contemporaneous reduction of rates,
n great deal of trouble and much in
dividual disaster might be avoided,
but it is true that no such thing has
ever happened and it need not be
looked for now.
In fact, as the Dispatch says, in a
large part of the business of supply
ing the wants of mankind, it would
be unreasonable to expect it on any
other ground than that of compulsion.
Men hold their stocks ut existing
rates, and assess upon them their
ordinary profits, which, together,
make up the cost to the consumer.
Yet those not so STATED are as little
disposed to make concessions from
prevailing rates. Nor are they illogi-
cal in their reasoning on the subject.
They ask, what must ne our guide as
to the value of our property, if VIC
discard the standard prices now ruling
in the market ? And each man will
further inquire Of what benefit to
society would be reduction in the
value of my goods or property if no
one else makes that reduction
We all know how easy it is to find
q reason for doing what our interest
or inclination tempts us to do. But
this is good reasoning, irrespective of
that lnfirlnity of our nature which
leads us too often to side with that
policy or argument which best pro-
notes our own temporary good, ire
spective OF other considerations. So
that the observant and experienced
man may predict, without the danger
OF failing in his prophecy, that prices
will not come down until those who
sell and rent are obliged to submit to
q reduction. It is at the same time
very we'll for this class of people to
look the condition Of things fairly in
the face. It may do them some good,
as well as others. If they do, they
must be prepared for pressure and
o crash, more or less severe, which
will bear down everything to rea-
sonable standard-a standard in keep
ing with the means of consumers and
the extent of business of the country.
1t is impossible that this violent
remedy for the anomalous condition
of affairs can be long postponed.
With us in Columbia, the direct COM
munication we have with New York
by steamers from New York to