The Daily state journal. [volume] (Alexandria, Va.) 1868-1874, 1872-06-24
swHy SO IIIGug


rents in this country are SO much higher
than in England? We think the inquiry
is easily and satisfactorily answered. The
people in this country have run ,ineonti-
nently mad on certainpolitico.financialt heo-'
rics, which have been put forthgbya class
of free-trade writers and thinkers, who
imagine that they have only to breach
one of their infallible dogmas to have the
hinges Of the financial and commercial
world turn upon it at once. Prominent
among these is the dogma that the value
of money must be regulated by the law Of |
demand and supply, the same as all other
| commodities. But money to be of any
| value as q standard Of measure, must have
| a fixed and determinate value of its own,
or it is worse than worthless as measure
of other values, fla yard-stick can be
cut short or long at the pleasure of the.
seller or buyer, it,would be entirely worth
less as a measure. Of length, and nobody
would think of asking for a yard of goods,
forit might mean much or little, according
as the caprice or within of those regulating
the length of yardsticks might determine.
And the same is true as to money; or as to
q currency that passes as money
! The high rates which money now COM
mands in this country, owing to the adop-
ton of this absurd and pernicious theory as
to its use, is the sole reason why the rental
of houses and lands are more than double
what they are if England. Change the rate
of money from six to twelve per cent, and
YOU send the rents of real estate kiting up
in the same ratio of advance otherwise,
, the value of real estate will be depressed
one half as compared with the new money
@ value; and, this cannot, be done without
"a shaking the entire fabric OF commercial
values, since everything elsosdepends upon
the value of real estate as a fixed basis o
4 other values, all of which is measured b
:. this artificial and purely conventional stand
: ard called money! sait sd Il aadsal
u In the London Times and Telegraph Their
: are columns of advertisements of first clas
I houses and property at less than half th
prices which would be demanded in th
:, country. For instance, the Telegraph @
:, the 9th instant, contains the notice of a
ne eight-roomed villa TO let with. an acre, 9
= land, lawn, flower. and vegetable garden
n. large variety Of fruit, green-house,Efowl
lTg house, shade trees, gas and water, in a
o oe excellent locality and all for f2s d year
Mt or less than S145. a, furnished, house
he nearly new, bay windows, ten rooms, gay
er dens, greenhouse and stable, is advertise
at 400 per annum. Another described Z
, @r a 20 ,"' charming, detached double-lronte
x. residence, just put, into complete. d r
t. pair, containing drawing anddining-room
"o library, three bed rooms, and dressir
.rll room, good breakfast room, kitchen, scq
~ lery, wine cellar and large coal vault, ," !,
"a offered at EGO pei annum, OF less than $50
I, Such property in-the vicinity of Bostt
%, or New York would readily command
llo,' thousand a year. THERE'S no good and d, 81
y, ficiert reason for such. difference in rent
III Tn England capitalists. and householders a
re- satisfied with return of three or four P
ne nc cent, while in America the landlord thin
'ns himself ill-used if he does not realize +
as or fifteen per cent. on his property IN
nj, whole American rent system is radical
TO wrong, and can only be renedied by leg
'ut latiye enactment, fixing the rate Of inter-
q at what it. should be, and not allow I
oc- bankers and other nonicd men of t
ll', country the exorbitant rates they are nc
' = u constantly receiving, This, excessive II
"a necessitates excessive rents, and The "a
~ remedy lies in reducing their prolitsto su
proportions that all other values, can COZ
-, - down to the true standard of a fix
~ w. money value. Ia aslaEg ai.ossieG aaa1
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