The United States Magazine And Democratic Review Vol 14 PDF Download

Excerpt from The United States Magazine and Democratic Review, Vol. 6: July, 1839 Deeply as the cotton interest has suffered from this artificial policy, the produce and manufacture of wool has been still more frequently and more deeply plunged into distress, by the complicated monopolies which the paper money system has created and sustained. Its situation in this respect has not attracted so much general sympathy throughout the Union, because its extent is greatly inferior to that of our great commercial staple - Cotton. As an article of the highest importance to the health and comfort of our citizens of all classes, Wool deserves to be relieved from the suicidal experiments of protection which have placed both the producers of the raw material, and the manufacturers, wholly within the power of a small number of individuals. By commanding the currency, they are able to excite production to the highest pitch of activity at one moment, and to paralyze it the next, whenever their immediate profits may be enhanced by such sudden u ctuations. Control over currency has, in all ages, given unlimited power over the laboring and producing classes. One of the most striking and instructive illustrations of this fact, which is to be met with in modern history, may be found in the preamble of an English statute, the thirteenth chapter of 25th Henry VIII, entitled concerning the number of sheep one should keep. So clearly is the in uence of a superabundant currency upon the great staple of England shown in this authentic detail of the manifold grievances arising from the power of monopoly which a small number of individuals were able to exercise by their great abundance of moveable substance, which the vast increase of money, within a few previous years from the discovery of America, had brought within their control, that we make no apology for giving it at large. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works."