The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-10-26

The difference became a margin OF
profit secured by the lew at the cost oil
the great mass OF the people.
1t may not DO possible TO give the
oxacs measure Of the amour: oil the in'
direct tax which was Imposed upon tho
great mas OF tho people by this undue
rise in prices as comDscGd to wages
during thu whole period which elapsed
from tho date OF tbs frs: issue Of the
legal tender notes up TO tue year 1879,
when specie payment wal Tu'umed
We can como 10 an approximate usli-
mate lOr seven years OF war aad recon-
siruc.ion, from 1867 to 1865 inclusive.
Frat NO will deal with actual J0Nc'
During that period the loyal irtabt'
,aut5 Of the UniOE, averaging 2j,UlOOJO,
weru positively taxed $40 u hcah per
year ia order TO yield revenue TO the
government. In 1860 their taxes caine
10 more than SO a head. The taxed
arc now s. head. But the heaviOat
tax was the indirect tax, due to the eX'
cess Of prices above tho advance III
wugos. Nine.icnths oil tho people OF
this country derive their income from
wages, small earnings or salaries, de-
pending upon each days work Tor their
daily brcal AMI inaklug but relatively
snail SAVINGS. About lOpJT cent derive
their in,omo from profits ol ono KIND
or another. When pficcs advance aud
wages do not advance equally the dillef'
oncu goes into the proau.
Tho combined lulluunre OF tho war
demand for goods, Of tho increase ot
taxation and OF tho depreciation OF tiio
currency reduced thn nutcnSsInc power
of AN average DAYS labor Ny mare than
ono.third during the period which
eiapsui between tho year 1860 Nud tGb
year 1865. The riso IN prices was very
rapid, tho rise in wages was worry slow.
such are always tho conditions when
ever there IL any monetary legislation
by which prices are effected.
L: has sometimes been held that tie
rise in prices ia this porlOi was wholly
duo 10 tho increased cousump'ion Of
tho war. This is not consistent WIKI
tho facts. The produc. OF 'bc northern
aud western aiaiss increased In quan.
tity evon during tho worst periods VI
OF tho war, aud wSuId hayO July
suniced 10 meet all war demands upon
IL together with tho customary demand.
OF peace that IL to say, tho increase IN
tao quantity 0i product OF the IUYnl
state, waa greater than tho increase In
population. while tho extension oil tho
railway service cIcaponed distribution.
llnnce 1t followed that those members
oil tho community, both Of tho north
aud wrs;, wnu derived thor incomes
mainly from proiit', tocurol through
iiaoin pficOs a constantly increasing
proportion OF M incrcallng quantity VI
pfodurB. whlO that much greater
number u PERSONS VINO derived their
incgmu from wages, Carning' or small
snlarlo, aucurGd year Nv ycut q lnson'
tur share, even W. compared to mo
lessor product Of ptoyIjui ynath II was
under these conditions that mo ron IN
fact prrw richer mud tho moor In fact
grow relatively poorer under tho ,nilu'
rnco Of bad finance Anl bad MONEY,
such being thO necessary results OF
lampcrin, in any mannof Hitll mo unit
or standard 0i ylIuc BY ncrcning lho
uunnuy u lawful money whlln dubti'
luz iN quality That IL What tbs nivo'
rnlotol tho REQ CUiuOgO Of silver arc nI'
tomplIus nj tho ufo5unt Time. SILVER
coin, which hammered smooth i1 worth
hut ~ pcf cent ui ita nominal Vhuo, u
bad money