Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1874-02-18
4Ualohman s. journal.
mrnNrsnAY. rrnnrAnY IS. sd
TrnHs-fl11 per year stuctly il advance or $3.50
% net paid within three months,



1t is not little singular bow the fuan'
cial policy Of the government is obliged to
resort to deception 10 order to uphold itself.
Instead Of quoting greenbicks as varying
ia price from the standard Of value the
legal tender apparently remains the unit Of
value, while the gold dollar rises aud sinks
in price. But if the market reports should
quite commercial transactions aud give
list Of prices according to an actual gold
standard we should read the sales Of the
Stock Exchange as follows New York
Central and Hudson River railroad would
be IS, instead Of l.04 Lake Shore, ~,
instend Of So; United States 5-20's, l03,
instead Of LII, and legal tenders, Sc, in
stead Of gold at l l3 Thus when a farmer
sells barrel Of pork, instead Of getting
Sl450 for it, as he imaguos, he only gets
s1275. When he sells bushel Of corn,
instead Of getting dollar for it he only
gets eiehty.six cents If be soils his farm
produce for $1,000, be actually carries
home with him only $500. lie sells all
his produce at legal tender prices and buys
all his coffee, tea, sugar, etc, at gold prices
II he wishes to invest IN New York Central
securities the savings Of his years work, he
will be obliged to pay sl04 for what is
only worth lightweight cents, and he will
live in constant fear lest his investments
will prove to be Of fictitious value.
This is the great evil of the two kinds
Of currency we now have gold for Gus.
toms, and greenbacks for debts and con.
tracts There is nothing Fixed or reliable.
1t is impossible to tell what a day will
bring forth. The man who is rich to-day
may be poor tomorrow, by the fluctuations
Of the legal currency, by being compelled
to take ia payment Of bis dues, that which
has no more positive aud definite value
than load Of chips or a bundle Of rags.
Nothing can be safely reckouod on in the
future, and so all buying and selling comes
to be eyersh speculation. The trade Of
the country is no better than gambling.
The depreciation Of grcepbacks one quarter
of one per cent. may involve III ruin a
score Of operators. 1t may PROSTATE the
trade Of the country and bring on dnan
oial panic and universal distress.
The Indifference of Congress to the grea
wants Of the country, to the absolute ne
cessi,y Of currency Of fixed and invari
able value, is inexcusable and criminal
No evils can possibly follow the resumption
Of specie payment like those which attonC
the every days experience Of our presen
doublo.hced, iniquitous and gambling sys
tom. Gold does not change in value. |
varies iuprice, not because it varies in value
but because the currency which is used t.
purchase it varies in value. Now give t
legal tenders a gold, Fixed value aud tn
evils which trouble our trade, and tn
greater evils which threaten il, will cease t
exert their baleful power. The bushes
Of the country will develop on a health
basis. Men will know what they are dc
ing when they buy and sell, when they il
vest their money or part with their seeur
tics. The fluctuations, which put the bus
ness Of the country on a stormy sea, wit
its perpetual ups and downs, and terribl
sickness Of meus hearts would be endo'
and its trade would sail on quiet aud pro
porous sea.