, 1869-01-06

oitt0ty and paradolfcal, ts Tint while our re-
III impaired; while We con time to possess and |
enjoy the greatest atea Of fertile territory, the
q and NE % leest ana popn
gate annual products of the sai have continually
anvil, TIC fersc. the loom. aad the spindle have
snF: 81 as Il e. o s 5s s,
within The List two years t6.t the asme could DC
thsn ,be uns5
protection even beng ccmsnno od Tor oil palntlnra
B5es ,ee,nc fatsl to The or IS
'cert,R ,Rold .ano thus claim the Eomm'seioocf -
Obliged 70 admit II 40 ve1 great extent, In eI-
The United statca anda itself, therefore, In the
Anomalous position Of great nation, favored In
Terms Of equality wttn the products or nnJ other
counuT; The marked exception being always It's
qutry IL Eow 10 be mhde into the causes TO which
these results must be atirtbnted, and az 70 tho
avoiding in go doing, 10 the gscase+, extent pos
Eible. aIy repetition Of the facts md a.gunen:s
s1e essn By the
ths results Of confirmed inTc.uga.ion and oi
AaIEc1Es ADVERSE TO RATIONAL pKvELorxEEr.-
The Immediate cause OF the anomalous coadt
uon Of affairs ln question. must unquestlocaoly
be referred to The greatly Increased OF nearly
all forms Of labor and commodities as compared
with the price for the same that prevail d in the
decade Immediately ptsesainS the Nv hwas; ThiLt
mainly of three agencies growing ont Of II war.
viz: t11tde emoble paper currency; unequal and
ase e. 1s q H. q pssseat
lime in spectaitics rather than in general.
INFLUENCE OF An IRHEpEEAAHLE PAPER cCH.
L nEsCY.
AZ the epectac influence Of the nret agency has
tern Of late go often and 60 ,holo1ghly discussed.
tniz head, 10 a lev points of presumed noyetvo
interest; and, fret, TO specific s,atemeIt Of &C
! tuaf ex pertcnce, Illustrative Of the manner IN
which Al 1rtedeeMahle paper currency, OF what Is
| the came thing, national nbncgatlon Of specle
payments, nnavoitahly tends to destroy all pto0t-
IN which t!adc ard industry 4 conaucteo on a
specie basis. The statement is futnieheo tu rhh
cenTlssionsr M By M nanutaes11es Of 1u.nituse IT. IN
var. had tullt up an extensive export business
TO the West Inotes, Central and south Amcnca:
fp1n,ture suited a.ia to warm ia1t,uats. I
Thus, on thu 1st Of March, 1861. gold and cur
rency heir z at par, Il .Cp0 In gold possessed 3
south ArncT1ean tmpb1ter III 1-9 dozen: et what
art termed n ths ttede. ordinary sq aat .p9st;
eol: began % command premium, aud ad.
Rapidly. Al hie movement, howe er, waa not par
l. by either labor os eoumodlties. and In eonsc-
I qucnct the purchasing power Of gold greatly IN
s. Ssa eud q whseh ID IN ,s ' boarSt e III
, Gozcu chsl1s, then bought 1$3 doz-n. Under
these eirsunstances. Us waB 10 be expected. trade
Am. riean market by fs1 The hest Tor his interest
bu, FROM July. 1sA, mcsemoai commeneed ,in
: labor and Commodities advancing II vers M
equa!1atios: Thus. IN Janaary, fss5, the Il, ,oot
power iii 10 dozen ens.rs, auo o On i tie lsi
@ July. 1864. OF la dozen, then couanaaded'nu
J., NJ nber, VIZ, 9lH dozen. and ultimately attain
{ Cd Its nlIlmum lG January. tSo7, when the nur
= chaslng powes oil the sum named aLs only s9t;
5s.Is e' sna tas = pssa
II 1883 Ias reained At th. rate " Ahoul 10. dozen
!. or nuc dczen iess ttan could bc ho1sht With In
. The result has been that the foreirn parsh.s },
j non goes TO France or Germ my. while the pro
ture. beng no lntErr avstl1ble to cxchanse 10
i. sugars, spices or a,ewoots, gold ha, Le ;cs. .arE
vii x .as
Will he a,iendec Win oleat dld1cult.; ana WIS
,r has thus been tha~n to he thh case in respe.t
The c1pot. t5.de u INC United rates in fusnlt ~
i. manufactured proadct, which. az nation. "
s were accustomed. before the war. to e1casus
70 ooxFAE1soN Or Fa1cEs or .LApa1 AN0 coxxen
~ 1IkH, 1SG0-,6t AND 1S67-C3
"a | 4Qe pIc6tQI AuuSfmN GOn1lLlGU aEQ Lut rEEel
" nuctusttors In the prices Of labor aud commDI
O. ties also properly cofnca up for consideration
=, connection With the subject OF an l1redeem4h
a paper cutretcy-the chief agency TO which Il
h. d,sturbunc.e n question mnst ns ret trcd.
OF The 1nvesdgstiots previously instituted by II
Of Comm, s,onct hays cs,ablished the fact that,
IN. tothe comm. ncemcut OF the wear l967, the &c
e1al effect o, the arcn lies rro Wing out Of the
st, y hAn been to occasion an arerage adraace IN
'P- pllcc OF comutd 10 TIE e1,eut Of nnou,
al per CENT, while the cor,eApono tng age I'D fan
~. N nMates Has aot III excess " 70 7 .c-nt.
NOVA T n u}NN 1ttSt, g.,
x Whtch another yras experience and Invests
~ !lon hayc bscugh ht TO Us In relation to this 81
~. tect. Thu 1esult OF long ana catefol inse.tls
lions In respect to the 1etall p.lces Ut The Lead
,se articles Of doucetic consampItur by op.tasiy
~ n the manufacturing to~La Of New England. 4
81 iordtd dats Tor aceu.stcly esumsins Inc ,urrea
In tho prices Of such arucea IN 1867 a. compar
Ieh with 1861 lhey establish tho following &
~ clnsionk:
ot That the average increase In the price OF r
IL eesles and Iro,sstors II 1867, a. compared ri
IL basis OF shc quantities eonsuneu on an avtra
nv ~. bT numoe1 u workmsn, a little N excess Of
-: clothing, S6tt per ccnt; oi fuel, ST per cent
-: hou-o-rsnt. Is per cent Thts htler average
~ howcTeE. tsrgely affected BY the cifcunstar
anrs ~ ne" os wytg seaa4.9 oge
~ ttIcmcnts oceupt' bg their operatives, rcI
the have not heca advanced TO any cunslas rshc
,n IN; ton the avsrs5s edvanec in renu Tor 1867,
~. compared With 1856 t'al, mast be estimated a
mum ElEeEf HEul1. 1bQ4 III l0E SE1slire Ill Il
be- f.eturin1 towns Of Pennsylvania tue average
- cIeaEe IN the rens 81 houses occupied pT ops
eh ~ fv,- b ecleEcu to hare been aooa: ii PER &C
shr and y New Jctsey III per cent l. tue cities
"a "a Ncw York. rLlatelpnla, Newark aud P,ttshur
z ,hs lccseafc has been fro 20 10 100 per eeLt.
rso ,so Ths aversTe OF shess rctun., ptopo,ttoned
III" M thr nsrerta1nco varyiCG raI,u OF expenditure
n ~. der the Eevez.l hexts, shows thst ior TIA )
ns5 ,s! 1867. and ,or lhv ~, nsn i the iss
'.tf average iut reasc all the cemcrts sh,ch con
10 tu'e the tocd. clothing aha shelter OF family
''s' hech nbont Is per cent, as compared with
-. etAndard prices Of 1S6r-'Gl.
2in The resnn; In general. Of this latsc increase
~ ~ thr pr. Of commodities OF domestic consul
a.. ~. ton TO the laotrtrg man be ones evident,
Vac Vac comp1r1pg euch laereasc Witt the iucrea>c In
tnn ecn-wh1ch stcs, for The scar 1857 a. comps
i,se ehsnlen .anor, 70 pr cent Tor sSilica meel
!a ,1!a In the cass Of unmarried men, the eompar1
g tEucore favornhie ,han reeptc1s MET with II
= i,ea lies; the average increase In the prices Of
t'r ar;icsts colsrMet bJ thrn havstc n.en
- ~, ahonl u Hct cent ee. for examplc. board In u
dn ufaa unnr io1na. Il Vcr eenr; clotntrg. ltrtsp
uder I've OF domestic dr5soods, .o per cent; ordil
fs1s boots and RI oes. Gu per crut.
art Skilled EoiEmrG, WHO arc At the sane time
d. married, ana Who arc In receipt Of wages trol
rect Per cent in advance ol The rses paid In
hsTe dud theit eonulttnn. AZ regards net income
lron lEos'mately tic zane us before the wa1.
Thu returns to numerous and careful inqut
In 1ntttnteo at ne request Of the C.mu!sstone:
~ establishments tu the New Enetsud. Middle,
e IN tomc Of the Western States. Also afford muci
e in veefb earnings and expenditures OF Amer
optrshves. grouped as families. IN ii" yeao
% opportunities enjoyed hy sacn fana'lles !; The
,e In PERIODS referred to-, for the rea4lzaton q
Elas ovs. and ano.e The s7peEdtsutss sosols
or 10 The following table, bsted OF tnaitputahlt
kably actual data, Slows the arerasc sg. reys.c ~
&: e. s'ssssi 'set,es: q q ihs seanssy sns :
+ the members ol cath Of which were employed In
u Of branch Of manufacturing inaussts; thes az,