The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1867-01-31
TrHE FINANCIAL. QUESTION.

We have not heretofore meddled with
the question of finance, for the reason
that we did not know anything about it
ftisa question not easily understood,
Some two or three years ago, Congress
undertook to lower the premium on gold,
by legislation. As soon as the law was
passed, gold commenced going up in
stead of dora, and Congress made haste
torepeal thelaw. The New York Tr,bune
is we'll satisfied that a return to specie
payments would be the best thing for
this country. The Cincinnati Gasete is
just as fully convinced that it would be
the worst thing that could take place.
When Congress, and the. .ablest editors
in the country cannot agree, what are
those to think who-hsve not made the
subject q studyi One thing we have
noticed; when money is plenty, and
business prosperous, all classes Of people
get along better than when we have
''hard times" aycg9 sR
| Last week we published Mr.. BuNbY's
speech upon this subject, and SO far as
we understand the matter, we think he
is correct. The Columbus Journal re-
viows this isspeech, and sets out by sayings
| Mr.. BUNDY ON HIGH fRicEs. t.
Mr.. Bundy's speech Is q powerful and for the
most part sound argument upon the financial
condition of the country, and against the toe
rapid contraction Of the currency. With great
m0desty, and with apparently almost unconscious
force, he reviews the financial policy OF Secretary
McCuloeh. and attacks bis position. 9 blf.
We would gladly make room for his speech
pOssible-but the pressure OF the regular Con
gressioual and Legislative repoFls upon our col
umns Is 90 great we cannot venture, cam T38
The Journal then fills out the balanc'
Of a column, attacking Mr.. BuNpY'
theory Of the regulation Of prices, anC
among other things says: m als8 d
Now, It seems to us, Mr.. Bundy only half state
hia propositions, It is demopstrable ln many way
that the price OF an article does not depend solel
upon the demand aud the amount Of supply.
it did. then when there ls no demand for o.
article 1t would have no price, and would conse
quently be worthless. But no one Will contend
that because the market is oveFstocked with GouI
for instance, and there lsno demand for It, tha
-four Is therefore worthless article. II has q
II Inherent value which cannot be reached by th
- anHf foe nd ffa nffaQ In tha
representative Of its value. Consequently It ma
be Of value, and have price, with absolutely n
commercial demand whatever for IL. .d ElE,
We suppose there never was time
and never will be, when therelis no de
mand for -four But suppose diseas
should attack the wheat in this country
and every person who ate wheat brea,
should die, and this fact should be uni
versally known. With all our money
what would be the price of fouFf !
might cost just as much to raise wheat
and manufacture -four as it does now
Again. Suppose that every horse inth
United States should die, and it wa
settled and well known that no hors
( could ever again live in this country
We suppose according to the theory 3
the Journal, that If currency rename
abundant, that spring carriages woul
: be just as high as they are nows ]
. would cost just IS much to nanufactur
them as 1t does now. " W'' w '
3 These illustrations may not be TO tn
point, az we have already said that
appears to be dark subject to athOs
who ought to know something about i
! We think that Mr.. BUNDY has made Ii
matter pretty clear, and we only wis
tbs Journal bad bad room to quote
!, few lines of what be did say, befor
! attacking his theories. i9ge Y
| 40 Et .Itrffy IN