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Depreciated Paper Money-Stagnation in Trade-Produce cheap-Labourers and Mechanics in want of Employment The Poor and Poor's Rates-Appropriations for the Expenses of the State of Indiana, for the year 1820-Objects and Rates of Taxation-County Taxes -A rude style of Improvement-The progress of New Settlements-Lands about to be Forfeited to the Government for non-payment of the price.

Jeffersonville, (Indiana,) May 4, 1820..

THE accounts given in my last letter of the depredations committed by bankers, will make you suppose that affairs are much deranged here. Bankruptcy is now a sin prohibited by law. In the Eastern States, and in Europe, our condition must be viewed as universal insolvency. Who, it may be asked, would give credit to a people whose laws tolerate the violation of contracts? Mutual credit and confidence are almost torn up by the roots. It is said that in China, knaves are openly commended in courts of law for the adroitness of their management. In the interior of the United States, law has removed the necessity of being either acute or honest.

The money in circulation is puzzling to traders, and more particularly to strangers; for besides the multiplicity of banks, and the diversity in supposed value, fluctuations are so frequent, and so great, that no man who holds it in his possession can be safe

for a day. The merchant, when asked the price of an article, instead of making a direct answer, usually puts the question, "What sort of money have you got?" Supposing that a number of bills are shown, and one or more are accepted of, it is not till then, that the price of the goods is declared; and an additional price is uniformly laid on, to compensate for the supposed defect in the quality of the money. Trade is stagnated-produce cheap--and merchants find it difficult to lay in assortments of foreign manufactures. I have lately heard, that if a lady purchases a dress in the city of Cincinnati, she has to call at almost all the shops in town, before she can procure trimmings of the suitable colours. It is only about three years ago, that an English traveller asserted, that in Cincinnati, " English goods abound in as great profusion as in Cheapside *.”— Merchants in Cincinnati, as elsewhere, have got into debt, by buying property, or by building houses, but are now secure in the possession. Such people, notwithstanding, complain of the badness of the times, finding that the trade of buying without paying cannot be continued. Those who have not already secured an independence for life, may soon be willing to have trade and fair dealing as formerly. Property laws deprive creditors of the debts now due to them; but they cannot force them to give credit as they were wont to do.

Agriculture languishes-farmers cannot find profit in hiring labourers. The increase of produce in the United States is greater than any increase of consumpt that may be pointed out elsewhere. To increase the quantity of provisions, then, without enlarging the numbers of those who eat them, will be only diminishing the price far

* Fearon.


Land in these circumstances can be of no value to the capitalist who would employ his funds in farming. The spare capital of farmers is here chiefly laid out in the purchase of lands.

Labourers and mechanics are in want of employment. I think that I have seen upwards of 1500 men in quest of work within eleven months past, and many of these declared, that they had no money. Newspapers and private letters agree in stating, that wages are so low as eighteen and threefourth cents (about ten-pence) per day, with board, at Philadelphia, and some other places. Great numbers of strangers lately camped in the open field near Baltimore, depending on the contributions of the charitable for subsistence. You have no doubt heard of emigrants returning to Europe without finding the prospect of a livelihood in America. Some who have come out to this part of the country do not succeed well. Labourers' wages are at present a dollar and an eighth part per day. Board costs them two three-fourths or three dollars per week, and washing threefourths of a dollar for a dozen of pieces. On these terms, it is plain that they cannot live two days by the labour of one, with the other deductions which are to be taken from their wages. Clothing, for example, will cost about three times its price in Britain and the poor labourer is almost certain of being paid in depreciated money; perhaps from thirty to fifty per cent. under par. I have seen several men turned out of boarding houses, where their money would not be taken. They had no other resource left but to lodge in the woods, without any covering except their clothes. They set fire to a decayed log, spread some boards alongside of it for a bed, laid a block of timber across for a pillow, and pursued their labour by day as

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usual. A still greater misfortune than being paid with bad money is to be guarded against, namely, that of not being paid at all. Public improvements are frequently executed by subscription, and subscribers do not in every case consider themselves dishonoured by non-payment of the sum they engage for. I could point out an interesting work, where a tenth part of the amount on the subscription book cannot now be realized. The treasurer of a company so circumstanced, has only to tell undertakers or labourers, that he cannot pay them. I have heard of a treasurer who applied the funds entrusted to him to his own use, and who refused to give any satisfaction for his conduct. It is understood that persons who are agents for others, frequently exchange the money put into their hands for worse bills, and reserve the premium obtained for themselves. Employers are also in the habit of deceiving their workmen, by telling them that it is not convenient to pay wages in money, and that they run accounts with the storekeeper, the tailor, and the shoemaker, and that from them they may have all the necessaries they want very cheap. The workman who consents to this mode of payment, procures orders from the employer, on one or more of these citizens, and is charged a higher price for the goods than the employer actually pays for them. This is called paying in trade.

You have often heard that extreme poverty does not exist in the United States. For some time after my arrival in the country supposed to be exempt from abject misery; I never heard the term poor, (a word, by the by, not often used,) without imagining that it applied to a class in moderate circumstances, who had it not in their power to live in

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fine houses, indulge in foreign luxuries, and wear expensive clothing; and on seeing a person whose external appearance would have denoted a beggar in Britain, I concluded that the unfortunate must have been improvident or dissipated, or perhaps possessed of both these qualities. My conjectures may have on two or three occasions been just, as people of a depressed appearance are very rarely to be seen, but I now see the propriety of divesting myself of such a hasty and ungenerous opinion. Last winter a Cincinnati newspaper advertised a place where old clothes were received for the poor, and another where cast shoes were collected for children who could not, for want of them, attend Sunday schools. The charitable measure of supplying the poor with public meals, has lately been resorted to at Baltimore; but there is reason to believe, that most of the people who are relieved in this way, are Europeans recently come into America. In the western country, poors' rates are raised in the form of a county tax. They are, however, so moderate as to be scarcely felt. Contracts for boarding the permanently poor are advertised, and let to the lowest bidder, who has a right to employ the pauper in any light work suited to the age or ability of the object of charity. They are said to be well treated. This sort of public exposure must create a repugnance against becoming a pau. per. In the Eastern States, work houses are established. It is to be wished that those who follow this plan will not lose sight of the example of England. The operations of bankers, and the recent decline in trade, have been effective causes of po. verty; and it seems probable that the introduction of manufacturing industry, and a reduction of base paper, would soon give effectual relief.

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