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Domestic News March 31, 1840

The Caledonian

Saint Johnsbury, Caledonia County, Vermont

What is this article about?

Editorial criticizes U.S. government's hard money policies for preventing the poor from getting rich, contrasting with mixed currency systems. Reports 24 Paterson, NJ, manufacturing establishments suspended, workers idle and reliant on charity; similar distress in other districts, affecting farmers' markets.

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OCR Quality

98% Excellent

Full Text

IF THERE IS ONE THING WHICH SHOULD NOT BE FORGOTTEN IN ESTIMATING THE RESULTS OF THE HARD MONEY SCHEMES OF THIS GOVERNMENT, IT IS THIS, THAT UNDER THIS SYSTEM A POOR MAN HAS NO CHANCE TO GET RICH, A POOR MAN MUST REMAIN POOR. THE GREAT DISTINCTION BETWEEN OUR OWN COUNTRY AND THE COUNTRIES OF EUROPE, THE DIFFERENCE BETWEEN A COUNTRY WHERE THERE IS A MIXED CURRENCY, AND ONE WHERE THE CURRENCY IS EXCLUSIVELY METALLIC, HAS BEEN THAT, IN THE FORMER, THE AVENUES TO WEALTH ARE OPEN TO ALL, WHILE, IN THE HARD MONEY COUNTRIES, THE MAN BORN RICH, REMAINS RICH; THE MAN BORN POOR, REMAINS POOR.

It is stated that twenty-four manufacturing establishments at Paterson have entirely suspended their operations, and that the men, women, and children who were lately employed in them, are entirely idle, and very many of them literally dependent upon charity, for their scanty allowance of daily food: Truly does the New York Times remark that New Jersey is doomed to groan beneath the blasting effect of Federal misrule, without being permitted to have a fair hearing upon the floor of Congress. And what is said of Paterson is also true of most every other manufacturing district in the country. "It is no marvel, therefore, that the farmers do not find a market for their produce."—N. Y. Whig.

What sub-type of article is it?

Economic Politics

What keywords are associated?

Hard Money Schemes Manufacturing Suspension Paterson New Jersey Economic Distress Federal Misrule Workers Charity

Where did it happen?

Paterson, New Jersey

Domestic News Details

Primary Location

Paterson, New Jersey

Outcome

twenty-four manufacturing establishments suspended operations; men, women, and children employed there idle and dependent on charity for food; farmers unable to find market for produce; widespread manufacturing district distress.

Event Details

Hard money schemes of the government prevent poor from getting rich, unlike mixed currency systems open to all; distinction from metallic currency in Europe where rich stay rich and poor stay poor. Paterson establishments suspended, workers idle and reliant on charity; New Jersey suffers Federal misrule without Congressional hearing; similar in other districts.

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