The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-10-27
sorID1rY AND CERTAINTY.

4 L. ANO Sb0 $500 =
The currency of Canada is chiefly paper
but il is redeemable in gold on demand
When traveller from this side OF the st. Law
renee lands in the Dominion, he finds it neces
sary to sell his greenbacks and national
bank money, receiving in exchange Canadian
bank notes, and paying for them premium
little more than that for gold in New York
But he soon finds that he has no occasion te
orumble for after he has sold 500 in home
paper for $50 in Canada paper, he discovers
that it will buy about twice as much clothing
or nav for twice az much hotel entertainm emf
as his original 500 would have paid for a
home.
The difference is made up in part by the
tariff of twenty-five or forty per cent which
attaches to everything imported, and in effect
to everything manufa ,tured in the United
States which resembles or in any way com
petes with imported duty-paying wares. Il
he buys suit Of clothes in Canada for $50 in
gold or it's equivalent, Canada paper, it is
about the same as if he had paid $40 in
United States currency. The same clothes
would cost $40, about $40 more in duties,
and the extra profits which dealers are obliged
to assess in order to cover the losses from
huctuating irredeemable paper. When goods
pass through many hands all charge this
extra profit for like reason. While
the clothier in Montreal and the merchants
from whom he buys his goods are content,
each and all, with q certain profit in gold,
though small, the clothier in New York evades
the risk of loss from fuctuation and throws il
upon his customer. 1t is this uncertainty
which makes achangeable currency so costly
to all concerned, and especially to the con-
sumer and the laborer. The Canadians have
none of it, and they are consequently able to
Farmers are content to sell their products at
fair rates, because certain that the money
which they get will be cas- good
as the wheat" at any future day. There are
no extravagant charges, and the low wages
equal to gold will at all times command good
service from satisfied laborers. A character
of soIidity and certainty pervades all branches
of business All experience the satisfaction
of having their wages. property, merchandise
and securities measured and rated by stand
ard which does not vary, and which is the
same in all countries. The Canadian mill
owner has no misgivings about the value of
his products, nor does he. hesitate to de-
eide what wages he can afford to pay.
He deals in fixed facts. The banker
Of Toronto is content with low rate of inter-
est, because it will be paid in gold, and where
property has always been rated at gold prices
he is easily satisfied with mortgage securities.
The farmer does not hesitate to buy more
land on credit, if he needsit, since whatever he
promises to pay will be ofthe same value three
or five years hence as now. Confidence in q
solid and stable currency leads to confidence
in all the transactions of business. Specu-
lators are few, and their operations have no
disturbing influence The dealings of brok-
ers are mostly confined to actual purchase and
sale.
Taking together all the manufacturing,
agricultural mercantile, m ,hanical and other
industrial pursuits in Cam. ia, it is safe to esti
mate that the people derive benefit from
hard and convertible money, every year equiv
alent to at least five per cent of all their
earnings.