, 1874-04-02
CURRENCY, FARMERS, AND W0RK1NGhll

CURRENCY, FARMERS, AND W0RK1NGMEN.
1t III worry singular fact TINT tlto people who
will suffer most from tho int1ation aro mainly re-
Hponaiblo for it. CongrcHB iu about to wator tho
currency in doflarco Of MI nlmogt unanimous
opponltion to It by tho Holid men and Hond
newspapers OF tic country. No ,nau WHO Inn
any reputation throughout ths country NJ q
tlnancior has nskcd for moro shnplustors. THO
forco behind CongroBa, In this matter l,as
boon tho forco OF ignorance. Logan, bonat-
ing TINT ho had learned what ho knows
about finance in tho sparo hours Of
two wooks, and Morton, snoring at
schurz because tho lattor llad actunlly studied
tho matter boforo Bpoang about 1t, aro lit loud
ORR for thoHo who cry for "cl,oap monoy." 1t
IL evident that Americana must 1carn by OK
porfonco tho oyn Of q waterod currency us they
hnvo tlloso Of watoroa stoc6s. Roughly ypcak.
ing, the two clasBes Which layo apparently moHt
favored Intuition hnyc boon tho farmers md tho
laborcrH. Tile former havo advocated, In W.
rouH resolutions. rotiring tho National Bank
notos and filling their placos with grcot,-
backs. Tho 1attor hayo indorHod all mnn-
ior Of wildcat schemes, Boston worlsingmon
aro responsible for tho worst. They gravoly
suggested TINT ovory nan ought to have tho
right to mako enough money for lltB own uso
limsolfl On those Two olassos, farmers and
working1nen, tho burdens Of initiation will press
with especial weight.
Tho farmer sells Ills goola on a gold bass.
Tho prico ut Liverpool tixes tho price il Now
York a,ld Chicago. lie gotB tho paper equiv
alont Of tho gold prlco i'll Liverpool loss cost Of
transportation tlloro. Whom lie uscB t1lis money,
llowovor, to buy noceasarieg aud com
forts, ho paya more than tho prico
in gold rochoncl In paper. For tho merchaut
must not only chargo this hut something more.
This something moro il an insurance against
future depreciation. A dollar-noto that 1orma
part Of o iluctuating currency may bo worth to-
morrow conts lesa than it is to-day, Tho ncr-
clhut who takes tho noto must 10 iuBurod
agai.lHt this possible loss. So ho must put u
higher prico on lis goods. ThuH, If go!.l Ia
| ITO, aald coat is worth S10 in gold, It cannot
DO bought for 911 in currency, though tlut IL
perhaps Tomorrow al il1 notcu will only bo
worth $3.50 in gold. The morchant must pro-
tcct himself aSaitlst ts possible oAB by cllnrg-
luz $12 or $l9 III currency. Tho oxtrn - or 20
is his insurance. II specio woro In circulation, Il
farn,or could bring 20 bushels OF corn into nlar-
lot aud soil it (allowing it to 10 wor til lalt-a-
dollar q buBLoD for alo with which l4s could
buy tho coat. but it al.inpasters form tho cir
| cnlatng medium, although corn and coat aro
still really equal iu valuo to oach othor, tl4oy
will not exchange for each othor. lilo corn
| will sell for tho papor equivalent OF
$40 IN gold, but tho coat Ia hold ut u
/ higher prico, al wo have already explained. 10
got it, the farmer must sell moro corn. In otlcr
words, ho must pay, In every bargain, from
fowc contB omany dollars, for tho b!osaod prln-
ciplo of using MI irrodoolnablo currency.
Tho workiugmall il even In Il moro pitiablo
plight. What Ao haB to Holl IL DAYS. uso Ut hin
muscle and skill. When gold r1Ros nnl every
thing olso follows 1t, Ills wages are tho last to
follow suit. When gold falls, Lis wages aro tho
first to do lIkowiuc. Yet hiB pay rarely risos as
much NJ gold docs, md uaually fallH moro than
gold doos. ANY groat luotuation In tho currency
robs him, thon. When he uses Lis haril.oarnod
wagos to buy anything, ho must pay tho 1air
prico Of the artlolo aud tho oxtra amount tlat
seryoH III insurance boslloH. Eyory dealer
churgeB tl,is. Az i,o uaually buys OF the labt OF
novornl toaloru. Ito m1lst puy tho insurance that
tho Importer tho Jobbor, md al! tho rota!lors
throuyl, wloso hands t!lo artluo las pagHad layo
uxactod. Tl'osD Aalf-luzon l,lsllrancoH aro part
1nons tint tr!oa to 'tmaks mouoy" out OF lump.
blAok sud raKa. When fasmag an1 artisan NJ.