The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1869-01-28

Democratic talk, but the Times Is we'll.
known as leading Radical journal -
On the subject Of tn, currency, as well
as upon almost every other question,
Democratic doctrines are receiving tho
endorsement Of the more sagacious Re-
publicans;
The great mass Of consunners-and
they, OF course, form the majority Of
this community will perhaps take n
deeper interest in tho discussions on
the currency, and will press their rep.
resentatives more earnestly toward the
right conclusion, If they consider that
this question in political economy touch
cs their everyday bread aud butter
For the worn pieces of paper, which
are promises to pay" Of our Govern.
mcnt that cannot be redeemed, circula.
ting from hand to hand, each one Of
our readers pays in his morning coffee,
his sugar, his tea, his broadcloth, his
furniture, his silks and wines, and the
material Of his buildings and his house
rent. 1t is tax paid almost uuiver-
sally-not only on all foreign article
but on all labor aud all the results Of
labor. Most Of all, it is tax which
benefits no one, except perhaps the for.
eign importer and the home Spectator,
aud often it ruins them. 1t pays no
debt and accumulates no savings for
the future.
We have now no fixed standard oil
value. The Government puts out a
note which it calls "a dollar" 1t is
in reality auctuating value, worth
once forty cents, worth now seventy two
cents, to be worth in year perhaps
eighty or eighty FIVE cents. All the
salaried classes, teachers, aud the like,
who are paid the old rates, do not re.
ccive Thousand dollars or two thou.
sand, as the case may be, bat some con.
siderable fraction less, perhaps not more
than half the old value. Those who
have increased salaries, aud the wage.
class whose wages have risen, really
enjoy most uncertain incomes, aud less
in value probably than their former,
for they must pay not only the regular
profits Of retailer aud importer, but also
the additional profits there demanded
for the risks Of an uncertain standard
Of value. The merchant who buys his
coffee on credit with d dollar at seventy.
two cents, with the chance that when
he pays it may be worth cighty,two
cents, must evidently charge a pcrcen.
tage on the risk, aud each consumer
pays that. No business man knows
exactly what his property will be year
from now, aud therefore he must exact
from customers some equivalent for his
uncertainties. We all pay q tax con.
tinually on this paper dollar, which is
the heaviest aud least remunerative OF
our taxes. All exchange becomes uu.
certain under il, aud business slackens.
The man who would buy, fears that
when he comes to pay he must dis
charge his debt id specie, aud he who
would sell, breads 70 receive what is
only worth fraction of its apparent
value. One great addition to coun
try's capital-building-is everywhere
DISTRACTED by these uncertain values.
The irredeemable paper dollar, toe,
adds to all our other taxes. We are all
paying, in one shape or another, por.
tons Of ole hundred and forty millions
OF interest money annually; the great
bulk Of il being ut the rate Of six per
cent. in gold Were our credit re.es.
tablished, aud the paper equal to the
gold dollar, this annual taxation could
undoubtedly be reduced one.third, or
some forty fve miliors, by funding.
AS illustrating the effect of the IRE.
deemable dollar on foreign commerce,
MIR. Commissioner Wells gives strik.
ing instance, in his report, Of one of
our manufacturers who made cane.bot-
tom chairs adapted for warm ATTITUDES,
and exported them to the West Indies
and South America. When gold aud
currency were at par, in 1861, 81, 900
in gold would obtain Ill 10 dozen Of
chairs. 10 1864, 81 900 could purchase
143 dozen, and trade increased; but, as
labor aud commodities rose in price, the
purchasing power Of gold fell; and 10
January, 1867, 81 900 would only buy
SO 2-3; now, with the paper dollar at
" cents, 81 900 will only purchase lO2
dozen, or nine dozen less than it would
buy in 1861, when paper aud gold we're
equal. The consequence is that the
foreign purchaser goes to another mar
ket, aud trade is Turned away, perhaps
never to resume its old channels. Aud
this country--which must have sugars,
spices, and dyewoods from these tropi-
cal regions--can no longer pay for
these with this manufacture, aud must
send gold in return, this diminishing
still further our basis Of specie for fu,
ture resumption. This particular arti-
Gle of cane bottom chairs is only one
instance Of many manufactures which
are crippled by the irredeemable paper
currency.
The manufacturer in the above in
stance coald only furnish 102 dozen
chairs for 81, 900, (gold, } as against Ill
dozen in 1861, because the changing
standard raised all his expenses, wheth.
or for material, rent or labor, above
even their legitimate rate in gold value,
while he must compete with foreign
manufacturers, who have fixed stan.
dard Of value, aud can cut every ex.
pense down to an exact and low rate.---
II must not be forgotten that every bus
iness man must charge q f,rofit ON an