Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1878-10-25

naner. it made its current value 30 per cent
more than its face value.-.hat ID, a hundred
plaster note passed current for 100 p. This
was making the money more than 'abso-
lute," and as the government received the
paper in payment Of taxes, etc, at ITS lace
value, and paid it out at its current value. 1t
was quite profitable arrangement, ap-
parently. Paper, when reckoned at its lace
value, is called "sound paper" while at its
current value it is called "rotten paper.
All transactions with foreisn countries arc
necessarily in gold. Rents are sometimes
paid in gold but generally in sound paper.
Shop-kecpers, when dealing with those who
have gold and silver, fix their prices ac-
cordinsly. But when you coma to the COM
mon people, tho 'horny- handed soLs Of toll,
they know no currency but that Of rotten
paper They enjoy their full share OF the
advantage of this "absolute money
A prosperous farmer, who has products
for sale, receives now from two to five times
his former prices, because many articles, like
butter, potatoes, hazel-nu:s, etc, are c1-
ported, and their price is fixed at gold
standard. But when asprice is fixed with
out the least reference to gold standard 1t
falls far short of its original gold value. This
is,the casc.with nearly all forms OF labor
Wages have advanced, nominally, from
% to 100 per cent but as money has dc
preciated 400 per cent they have really fallen
TO less than half their former value. The
advantage here is decidedly on the side OF
the "bloated" capitalist, 80 much so that
one Of this latter class has this year put up
a house, in view of my windows, which has
cost $500, but which in former days
would have cost at least $4,OOO-mon-
ey a. the gold standard, of course.
Here, you see, this " absolute money
has enabled this capitalist to take,i lump,
81 500 out of the hard-earned wages Of the
"horny-handcd sons Of TOLL And when
these common laborcrs spend their money it
is also to their disadvantage. All imported
goods must, of course, follow gold in price.
All exported articles do the same, so their
prices rise in the same ratio. And as few
articles remain that are not thus affected,
i. follows that the poor mans wages
will purchase far less than formerly.
In many ether ways the people suffer
loss,s Indirectly. For their own security
all merchants are obliged to turn the money
received each day into gold Immediately.
This, in the absence Of banks, has started up
a race of small brokers', who, for their own
advantage, are constantly bulling and bear
ing the money market 50 that no one can ever
tell what it will be few hours later.
Hence the merchant must always so gauge
his prices that between taking the paper and
passing it over to the broker violent tilt
in the price of gold does not sweep the pro-
fits out of his hands.
But need not multiply illustrations. a
thousand things on overy hand go to show
that paper money helps no one but the rich
and the money gamblers. The poor masses
are made vastly worse of by it This is the
case here-perhars the Greenbackers can
show that it would be different in the United
States. To my view, irredeemabie paper
can no more stand or be useful than house
utterly without foundation, and it is mys-
terry how any thoughtful man can be misled
by the sophistical arguments of those who
would flood your land with irredeemablc
paper. Yours NJ r. 4.