FARMERS' REGISTER. 



299 



Icirislatures had (hen set themselves to create cor- 

 |)orai ions with power to own ehips and vessels, 

 steamers, waj.';ons and carts, and to use the same, 

 each coiiipaiiy to be under the management ol" a 

 j)resid(Hii and board of direclors, uni;l the num- 

 ber of companies had been muhiplied lo one thou- 

 sand, and if congress would then have perlecled 

 llie system by the eslablishmenl of one great na- 

 tional Ircighiing company, with a capital ol'thiriy- 

 five hundred ships ; if lo ensure the accurate 

 working of the system, each stale had established 

 a board of commissioners of li-eighiing, and care- 

 J'ully Ibrbidden any company Irom sending out 

 more than a fixed number of ships, and hampered 

 and clogged the business by Ibrbidding any com- 

 pany ever to take a higher rate of freight than 

 ten cents a cabit foot, whether the voyage be ha- 

 zardous or sali?, sliips plenty or scarce — if all this, 

 flnd ten thousand oilier provisions, had l)een estab- 

 lished by law, we might have had abundant reason 

 to be satisfied, perhaps, lor we should have been 

 fixed about freights, just as we now are about mo- 

 ney, and any man who had ten bales of cotton to 

 ship would probably be able to <;et an answer to 

 his proposition at the semi-weekly meeting of the 

 board of directors, provided he put it in the day 

 belbrehand. In our judgment the comparison we 

 have here drawn, is perfectly just and appropriate; 

 and a system such as we have drawn, would be 

 just as well suited lo freighting as it is to currency. 

 J3ut who does not turn away from such a system 

 of freighting with contempt? who would not 

 <]uit business, almost, if he must encounter such 

 a system ? Whal revulsions would it not pro- 

 duce in the rales of freights ; and how certain it 

 would be to make the rates on an average twice 

 what they are now. Who would not scorn the lol- 

 ly, idioiic stupidity, of a people who should set 

 about the creation of such a system. What folly 

 above all other lolly would it not be, for a people 

 after setting up such a system, to fail upon the 

 work of their own hands with reproaches, to at- 

 (ack the shipping companies as monopolists, and 

 try lo make political capital by creating odium 

 against them. Nothing can be plainer, than that 

 ihe people should blame themselves and no body 

 else, for the bad working of their own bad sys- 

 tems. If, however, such a system were now in 

 full operation in fieigluing, it might be wise lo 

 sustain it. Certainly it would be unwise to break 

 it down suddenly, for the distress growing out of a 

 sudden revolution would be very great. But if it 

 should become broken down, then we think most 

 ■obviously, the true system should be with all con- 

 venient despatch adopted. 



And now, with all deference to the opinions of 

 the wise and prudent, we, are ready to propose 

 what we have no doubt is a true remedy lor the 

 evils of our currency ; a remedy which will make 

 our system as perfect as any earthly system can be. 

 It is not that the charters of the banks should be 

 taken away, or any damage or odium upon them. 

 Our banks have done their duly to the country as 

 well as they could ; or, at least, as well as was to 

 have been expected. They deserve well of the 

 people. Let them live lor ever and prosper. The 

 evils of the banks belong lo the system which the 

 people have made ; a system which in its nature 

 renders it impossible for the banks to sustain a sta- 

 ple and steady currenc3'. The remedy is the re- 

 peal of all prohibitory laws on the subject of bank- 



ing and the use of money. Instead of the respon- 

 sibility of furnishing a currency remaining on our 

 legislators, let them leave the whole matter to tiie 

 people. If the people cannot contrive ways to keep 

 their accounts, let them guess it out. Let the con- 

 fused notion about the creation ol money being an 

 act of sovereiijnty, be sent back to Europe where 

 it belongs. Congress having established a stand- 

 ard yard, a standard pound, a standard gallon, and 

 a standard dollar, will have accomplished all the 

 ends of <jovernment. In respect to money there ia 

 a peculiarity, however, merely physical. The 

 standard pound may he placed in the hands of a 

 public officer in each city, and all the weights of 

 the city may be broufrht lo him, and he can pre- 

 sently adjust ihem. Not so in money exactly, be- 

 cause it is easier to coin money, than to " seal" it 

 alter it is coined. So the easiest way with regard 

 to it will always be lor every man to take his bul- 

 lion to the mint, and let it there be coined. The 

 only useful end accomplished by government in all 

 these matters, is the same throughout, viz.: the 

 eslablishment and maintenance of uniformity in 

 the standard. There is no more mystery or strange 

 sovereignty in making an eagle, than making the 

 standard gill. It is of the utmost importance that 

 uniformity should reign in respect to both matters. 

 This is all which government is wanted lor in 

 either case. Congress has done its duty in esta- 

 blishitig the value of coin, and in establishing 

 mints where all future bullion may be turned into 

 coin, at the pleasure of the owner. Let them slay 

 their hand where they are, and let the stales 

 repeal all their laws respecting banking, and the 

 use of money, doing noihing more than to enlbrce 

 contracts, when made, and if there docs not in- 

 stantly grow up, as by magic, a system of currency 

 and banking as much belter liian the world ever 

 saw, as liberty is better than bondage, then we 

 have overrated the benefits of liberty, and the 

 powers of man set flee. We should have banks, 

 then, perhaps more than now, at any rate we 

 should have just as many as were wanted, and just 

 in the form and place which were wanted. \Ve 

 should have a paper currency, good, and known 

 lo be so, from Passamaquoddy to the Gulf of 

 Mexico not only, but over iha whole commercial 

 world. Our system would never slop specie pay- 

 inenls, for there would be no system. Every man 

 or company would stand or lidl alone. There 

 would be an end at once to all the feverish excite- 

 ment about the rates of exchanges and the ex- 

 port of specie. Our currency would be as even 

 and equal, and money affairs as steady, as in this 

 world it is possible to make them, incomparably- 

 more steady than at present. The fluctuations 

 would noi probably be greater than they are in the 

 rate of freights, not so great in fact — for one of the 

 principal reasons for the fluctuations of freights 

 would be taken away. The i nrrency would be 

 beyond the reacli of politicians. They could never 

 disturb it, or create any excitement about it. 



From tlie Agriculturist. 

 RYE IN WOODLAKD. 



Mr. F. JMcGavock, five miles from Nashville, 

 has an excellent pasture from sowing rye in the 

 thick woods last autumn before the falling of the 



