Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1878-03-26
For THE OXFORD DEMOCRAT.
The Causes and Effect of lizard
Times"
BY NJ. C.

very much entertained and instructed by
the original ideas he advanced, and pur-
pose to offer some Of them, TO The many
who may have been equally interested,
with myself, on this subject. Man is a
slave TO the wants and needs OF bis body.
Nature supplies him. gratuitously, with
three vital necessities air, waller and
sunlight. There are three other vital
necessities: food, raiment and shelter,
which must be procured by effort OF the
recipient. or of some one on whom he
may be dependent. The quality OF each
OF these must correspond with the means
OF the possessor. from actual need TO SUI
perfuo luxury. Wealth is the key note
of luxury, comfort and happiness. The
science of wealth is accumulated labor
not necessarily OF the brain or hands cf
the individual who at last possesses IT,
but the work and planning and care Tor
years. of some enc. A nations pros
perily is in accordance with the state OF
It's commerce, its manufactures, and the
price of the products of its agriculture.
An individuals prosperity is in accord
ance with the quality OF his brain, and
The state OF the finance OF his country.
The man who lives. must work but this
is irksomo to him, he sbirks it ali be can
and in seeking for some way TO prevent
| it, ne has been led to utilize nature. He
does this in three ways: by transmuta-
ton, transformation and transportation.
By lransmutation, he compols the earth
to rsise cereals, fruits, cotton, &c. IN
short, il is but the definition OF agricul-
ture in its mullilarious forms. BY trans
formation, he manufactures goods from
the natural products oil the earth. He
ulilizes the elements. Air, fire, wind.
water. lie converts water into steam
in the British Isles alone, the steam power
is equivalent TO the muscular power OF
100 600 900 men. The machinery re-
duired to utilize steam has COS. money
and brain, toll and care, and patient wait
ing; but competition and demand have
succeeded in producing perfect workman
ship. increasing in capacity one-third in
the last ten years. OF course increased
rspidity of production must follow.
Having no national means of export our
country il actually suffering from sur
plus production OF manufactured goods.
By lransr ortation, man bss effected an
understanding with other countries tor
mulual exchange OF goods and articles OF
merchandise The intrinsic value OF any
commodity is unchanged IN different
places. but the labor OF transporting costs
money and increases trade.
Commerce, the greatest civilizer and
peacemaker, lhrives in time OF peace.
Though crippled seriously, except locally
in time OF war, England is at present
"aueen Of the sea- Her richness con-
sisls almost entirely in hec extensive
commerce. II il not controlled there by
individuals or firms, rs it is here in the
States, but by the nation herself and the
want OF attention TO the immediate ma
tional commerce. is one OF tho great
causes OF the present hard times.
Owing to the rapid depreciation OF
money. and the immense shrinkage IN
value OF property, capitalists have in
vested their money 10 u. 5. bonds-buy-
ing them below par, and holding them
until they reach gold money value. AT
the time when these bonds were issued
the country WAS in need OF money 10
carry on the war, and. 10 induce loans,
offered the bonds. tree from taxation, and
no act has since repealed this. The men
with cash, invest in bonds and receive
their income without risk or taxation.
while the poor man must pay both. FOR
instance, man invests $1,000 in bonds,
paws no taxes and receives his Interest;
another invests $1,000 in land or in buH-
ness. and forth with he must pay his tax
consequently the cash has been with
drawn from the circulating medium OF
trade and invested in bonds. The few,
compared to the many, who remain IN
business must pay The taxes, pay of the
public debt, and furnish employment 10
the needy. These men constitute the
enterprise OF the country, and so long ~
the money OF the country is wltbhe d
from being invested in reproductive la
Dor, so long tne poor will seek employ
ment and lind none. Ordinarily, one
halt the population is unit for labor: the
children, the aged, the sick. and The
crippled. Now when opportunities are
so limited the workng-clsss is reduced to
about one-fourth. Naturally tue income
! is narrowed TO the laboring-class tirsl, be-
cause they depend on each days labor
for each days susteDance. Their econo.
MIXING from few luxuries to bare necessi-
ties make the greer and merchant feel
the pressure oil dull trade. aud they IN
turn draw heavily upon their bankers for
money TO meet the demands OF creditors,
which heretofore had been taken from
customers. And they must needs hesi-
tate, also, from buying from the manu-
facturer ill he is compelled to put up
his goods en- masse, and breaks the mar