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The spirit of the age. (Woodstock, Vt.) 1840-1844, May 29, 1840, Image 1

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BY C. G. EASTMAN.
Frecdom of Inquiry , and thc Powcr-of the Pcople,
$2,00 PER ANNUM.
VOLUME I.
WOODSTOCK, VERMONT, FRIDAY MORNING, MAY 29, 1840..
NUMBER 4.
SALUTATOIIY.
nK-PUBMSHED nv HEQUCST.
In conip'.i.mco willi tha usual ciistom tho under
led.iu this, tliu lirst nuiiibcr oftho Si'iitiT ok
Ix Aar., pt-ocuoiU togive, ns liriolly us possiule,
lexposiliou oi tno coursu 110 inicnus io pursuu 111
lcoiuluct uf his piiper.
Vt tliu outset, thu prtnciplcs wliich tho Agk will
,-ociitc shall bodelincil boltlly iuul distinctly.
coiuluctor, ltilievinr that polilical acience con
s of soinetliing inoro tlian a incro systom of art
juggling and dexterous slight o'iiaiul will nevcr
fouml uinong thoso who conceal their principlcs,
uil tlicir meaning and niystify llieir nctions to
t the tcachings of I'olicy. Toworship at tho
mblo shrineof tuuth, to gazo'in lier fuco ns a
r. nnd to speak lier toaciuii"s learlessly, uut cun-
Ily, will 1)B lii-t only aitn.
ii conforinitv'to tlusprinciplo, itinnyho distincl
imder.stood that tliu Age, will sustuiu tliu pres-
Adiiiiniitrnlion, and at tlio prescnt, moro es
ially, tho grcat reform lueasiiro of tho liiues, tho
icpendent Treasury fiill. This phm of kecping
i nublio nionovs, as tho nocessnry antagomst ol
k'utional llank, so littlo iinilerstood, so niucli n-
Ecd, will receivo parttcular nltention. In lact
ro nover has been but onesido to the grcat qiies
i ; aiul it'is rcmarkablc, tliat tho oppo.-iition havo
n ablo to inakc a monsti'r so ti'rnlilo aml ol n
mositinnso siuililo nnd oasilv to bo iinilerstood,
ll whoso utility, wheiistriiipcd of the inisrcprc-
itatiou and f.ilshood whicli liavo lieen tltrowii u-
unil it. is ns clcar as tho sun 111 heaven.
l'ho chango iiitho policy of tho conntry is not
tho collecting oftho inoncy s ; for tho Indepen
at Treasury Ilill proposes to colloct tho inonoy
tlia UOVCrillllCIH lll uiu saiuu iii.iiuiir uiiii ii iu-
ii . i . .i... .i: i t r
iys liaslieen coiiccicu. im m uiu iiiniiusiug 'ii
! publia moncys : for tho Indcpcndent Treasury
11 proposes to ilisburso tho inoncy of tha Govcrn
nt in tho sauiu iiiaiincr tltat it nlvvnys haa bcon
.hur.sod. Tho onlv chaii!.'o in tho I'uiancial de-
Irtnieut oftho (loveriimeut whicli tho Iiidcpen
t Treasury llill propoes is, a chango in tho innn
r of kecping tho puhlis nionev. Iho principlc
k'olved in thu chanso, cau bo placed beloro tho
b'.ia intlio siiiip!o(iu'.limi, shall tho finvcniuiciit
nlrol its inonov .' Shall tliu inonoy vvjiich tho
oplo leud tho (I'uverniiiciit tn carry on its busi
ss, bo placcil in tho Treasury of ihii t'nitcd Statcs
bioct to tho cuutrol of (.'ongress, bniind by tlio
Institution nnd restrainoil by tho puwcr of
Ivv ; or t-liull it lio placed in thu himls of an insji-
Ition, to lio inoil lor speoiiiaiuig pnrpinos ny ns
mngoM ; whicli inMitution is iunU-r tho control
tno pnwer, H ontiroly inilcpi.'mli'm 01 iovi.'rninunt,
lll. tn lll tlio S1I3 ISIISI0I1 01 locio nayiiit'llM, hbi
Io govornnient at dolianco, rrfmo to rcfund the
onuv. inako it n bankrunt nnd un the moneij of
Ir iie'uple lu opprm thc .cn'f. ThN U n plain nnd
nplo stateinciu oi 1110 principio invnivou 111 uiu
di'pendi'iit Troinnry Hifl. '1 h'nplnn for tlio safe
I'pingof tlio publio inoncys wnslirt prnpocd by
Ir Jullunon. ftinco nn nay, inoiiuiiioi-rauu pariy
ivo bci'iisitoaililv strivnm loriu cttahli-hul, whilo
(o U'llcral nartv, tiavo tnvon m mcaiiuy 10 csian
I. . . .'....I .l...ll ..! t V..i! i
l li'i gruai uuu iiuimn uui.iiiuiii-iii u ivuiuiini
l.mk.
m'Iik niiK'ii'init m a.iiun.o.l. tlmt iho lliio ol iioiimrk-
liiui butwei'ii tho two great iioliliral putic.s wlni'li
I ! ....! .,1imn ilm r.ipiiiiittnii nrnnr imifrimu'lit.
,i Ii.mmi tho ln-it iiiaimcr of liocpiiii' tlio publio
lm.fv-i:..tlnt tlio IVdi'r.il nartv h no nhvnys ln'cn
If.ivor nf, aiul tliat tho ilcinocr.itic party opposi'd
, a N'ational l!.m!, at iliu l'n?ul iigont of lltuOov
iiin.Mit. 'lo sustain th'n tioition it will ho ncco.i-
Irv to rofor to iho carlior p irt ol tlia lintory ol
lir conreder.icy.
Tlu tliilereitfo nf oiiinioii, whii'h citcd bctwncn
Ir jo orson aiui uoi. iiaiiiiiinn in uiu iuiduimiuii
Ihi-li udoptcd our conititntion U wcll liiiown. It
ili not, at th'n lalo ilay bo ili'nK'il tbat tho l.ittcr
iiludto glvo.wlut ho'callod n "inoro perinanont
nractor to tlio (invi'rnnii'iit'Mlian wa accopiaino
i Mr JiHlorton. Mr .Madison nnd tlicir friomls.
lu s-iid "nothini!but ti iierm'inent hody.cnii chcck
io iiupruilfiicoof deniocrncy." Ilolheri'foro ad
ooated u fsenato fnr litV. TI' pcoplo" naid ho,
arn lnrbulciit, and olungnig ; thoy soldoni judge
r dotermino riglit." I lu wm thertforo for nialiing
io Oovcrnineiit Mron iiinl.lha pcop'o wcak, no
ht tlu foriiiBmh.inld eniilrol tliu lattor. "fcuu '
fiid (.'ol. II. "the esci'lli-iicy of tho llriluh
tceiillvc. Ho U nbovo toinptatioii. .Nolhing
linrt of surli snch an csecutivo (a Uing) c.m lio
micisnt." Ho tlicrcforo odonili'il a l'rci-
lcnt for lif. Thn-io high innnarchical pnnciplci,
'ol llanilltnn ondcavorcd touigraft into tho consti-
ution jbut fiiling in tliN, ho procccdi'il iiiimi'di
tcly upnu lipingiippjintrd Horretary of thoTri'as
ry, to furtify, aflor tlia l.ngli(i inanuer, by co.n
tiiuctio.v, wlut Iho iiicinbcr-i oftho convcntinn
nl rcfmed to do by law, thosc, asln- (nllcd lhcm
'wcak nnd uiiunrded pointj in Iho eoiiMitntion."
f.irk llm nrincinlo iiiion whicli ho actrd.
".ilcn ' tant lio, "cnn no govcrncn ny ono oi
.
Iivo iiioiivci ninno, kohci; or ixtkiikht.--
'I'uTcn," it:iitt hc, "in this rounlrv isout oftho
lucslioii.nnd tlio inlcrf.it tlicrcforo nfllio incnibcr-i
nust liu hiid linld ol to kccp tliu lcgnlaturo in uni-
Ion wltli Iho cxccut'nc." Actingiipon tln-i pnnci
lo, h'n lirt objcct was to nujuro to liiiii-clfn par
v inl.'dn-rMHwliou-ould roiiccdo to lii vicwn nnd
Farrv out hi principlcj. In ordcr to "lay hold of
It... !..in.njuf fiPlliii tifimiln. Im nrnrlirpil. illirillir
lin iwo firit acsjioni ofconsrcHtnotiannsoof nct
fundini' nt par, tho ccrtilicatcH usucd by tlio ronti.
tcntal tiovcrnincni, nnii winciiiiaiiucuii imuaiii ui
i Iim ihan ono tcnth tlicir valuc. So coinplctcly
9id lio miccced in "laying linlil ol tlio intcrc-il ol
ho nicmlicM" ot congrcn, tliat Mr jciioroon rc
narkcd nt the tiino,"lbat tho wliolo nction oftho
cg'ulaturo wai uiulor tho dircction oftho Sccrtta
y oftho Treaiury I " So f.ir ho had nuccccdcd
idinirablv. 'Ktill naid Mr Jcircrran, "tho inachino
va not coinplctc. Tho clFcct of tlio fuiidiiig y
niii tvntild bo tcnitmrnrv it would bo loit willi lliu
iih of theinilitiilu.il iiiciiiIich whoin ho h id cnricli-
l'd. nnd fome cniiine of iiiiliicncc iiioro pcrinancnt
mustbo contrivcd wlnlo tho niyrinailoin vcro'yct
tn liiacu io carry u jis;iin'i uu uiijiisiii"ii. t m;
nn thu iiaxk or tiii: umti:d sTATia.
Ilc nrocurcd tho paai.iR oftho bill clurtcrmg thc
1tnn1 n 1701 whicli. m lu rciwrl.tlio naino icar
hiodcclarcd wasnota incre ni.ittcr nfprivato prop
crtv.but a vast polilical machlnt ortlic lnglict uu-
nnrLinco lo llioStatc." Ho farnll wtm wi ll forb'n
drbr.md. Ilc had ussumcd tlio atato dcbU luiidcil tlie
inoncy oftho revolution, & crcatcdnnatinnaldclit,
lactiu" on the Kiis'kIi inaxim tliat a Anlioiial llcbt
li i. N'ntmn-il l,lciii?. Ilo Ind lastlv oUablnbcd a
Idalionil bank,whi':h likc tho llank of Ijiglaiiduoiild
bind cvnry inan by h'u intcrcM.who hcld n nlnro m
the Uanlt of the riovcrnnicnt to support the (lovcrn-m-jnt.
Thu vas mndcliiigthe fiovcrnincnt prccncly
Iupon tho r.nrwh'Vlan, wlnch ho lud prc musly ilo
clared"wamhe bc.t modcl the vorld cvcrnaw."
TliU wato kccii the laborin2clain dcbt forcvcr,
rrh'u waJto creatn nn ari-ilocracy of wcalth, confcr
nll tliolionon ol lliogovcrniiicnt.ns the clderrtoami
3id ihey bould bo rmifercd.upon 'lie KIC'II. Tliii
waitolividc the polilical inmiiiunily,a ho wid all
po'iticat comiimniliej "ought to be dnidcd-into the
Irr.vr and the MAX the lirst tlie Hlull nnd tli
WF.I.I-HORN.theotlicrthoMABaOFTHEl'EO.
PI.r.' Th'u wai to chcck tlio "tuibulcncy ofthe
Ipeoplc" and eiro to tho Onvcrnmcnt that ptrman
r aad cnniolidation which ho so niucli dcslrcd.
I It only now rcmaincd tocfiect n roniptrte union of
Itlieintercitj lietwccu tue Uovciisjiet nim uu
"poi.rric.vi. maciune.-" To ilo th'u it wns ne
ccssary that tho bills oftho Dinik thoiihl bo rccci
vcd in tho ducs oftho fioycrnmciit. llut, hcre n
slight slight to hiin dillicully urosf. Thc fra
mers ofllio constitution, no ilonbt having in tlicir
ininds tho dcpreciatcd papcrof thoKcMilution.and
wUliing to aoid tho po.vsiliility of n like occnr
rcncc b.id wisoly dcclarcd in tho constitution that
tho "ducs oftho (I'overiiinent sheuld bo rcccivablo
only in gold und sihcr." Whi.e ho was paiiifully
pondcriii!; upou tlio bcat inanncr to niinul tbis pro
vision of thecon.slitution, In ! tho most bcautiful nnd
thoinost fnvoiirito daughtcr of liisown idolizcd 'bcst
lliOllcl" tllO (iKNIUS OF CONSTHUCTll)N,aid
lier dclicate hand upon liis shouldcr, lookcd into"
liis eyc.s, siniled hcr swcctcst sniile nnd thu cnl
leclor ofllio pnrt of llaltinioro waa notilicd that tho
Sccrctary of tho Treasury had so coiistrueit the
constitutinn, "s to inako it lcgal for hini ta receivo
paper in tho duca ofllio (iovcniiiient ofllio Uiiitvd
Statcs! '1 bo dccd was donc. Thc bold nnd inas
tcrly gcuiiis of tho Sccrctary of Trca sury, willi ono
stroku ol'liis Napolcon-like' pen, had overthrown
the grcat barncr wliirli lliolraiucrs ol uiu constitu
tion, willi lliolaborof iiionlhs hadcaifullynndciiii
tiously llirown nround it to protect it from tho evils
of a dcpri'ciatcd currcncy and the dangcrs of a u
nion oftho l'nrso and Sword, nnd opi'ned tho dnor
to all thoso vnst und ovcrwhclining cils wliichhavo
since fallvn iipon tho couutrV.
1 i I .1.... ..1.1
l.notigll uas now oecu sani in miow , ui.u uiu "i
I'cdi'ral ii.irlv va.s tho f.ithcr oftho National llank.
honlv now rcn.nin.s tolioinwn. tb.it Jclicon
and liis IVicnds wcro opposcd to a National llank
and wcro iu lavor ol a plnn sinular to iuai oi tno
Indcpcndcut Treasury loi collecting, Kccping, aml
di-biirsinj' thc public moiiey, to cstablisli tlie po-
silion assniucd, that tho line of doinarknlion bc
tween tho two grcat partics oftho day lias been a
'National llank or nn Indcpcndent Treasury.
lu I7U2, Mr. Jcllcison.ina lctter to Wilmington
spcaking ofllio plnn ol'cstablbhingn National llank
says.
The 10 or 12 er ccnt, nnnnal )iroir.t pnlil to tlie lf ndtrs
of llil.s i!ipi-r nu'iliuin tirc tnloii ntit ofllio inclvl uf tlie
Mdi-ilr, who wimiM havi- hnd, wilhnut lnlcrt-m the culn ll
iiilmnihlns, llml iill Ihi: capllal implojid iu pnptr nptc.
iiliillna Is Imrnn kiiiI u-iIim, piniluriiij; liko Ihnt n Ihe
isamliis tul.Ii', nn mcei-sinus lu llirlfnml lllhilnin from
ciniiiiii ri'f iuul nsriculluro whrrull would huve prniliiml
iulilllliiii lu thc iunns, llnit It iinurMii'il lu our citlcns linti
ll uf U' nnil hlhr.n.s, liiklral of iiulutry iuul iiinridily,
tlnt It lini ruriilnliril illlrliial lui inis nf iurriiplliis mcli n
j urtioii nf Iho l.i'RNIattirt! 111 tuiilslhohrilhiiiceht lwi'rii thc
liunil nler whli'hever wu) It lailiieiinl ) llml thls hiii.kI
rini, iN'clilh'8 Uiu nlt-o nl'ihc li'sifl.iti'.re, ne liiniilli'-liil
llulr ili 'i''ltii'ii l Ri-t r!il oflhi' linilliilliiiis iinpiMil !)
Iho cniHtltiitliin on tlio Criirr.d l.ini-hilnre lliiillullons ou
Iho IHilli nl'whli'li Iho xliitri nrailnl III llml liiitruii'.i'lil,
tliat Iho nllliniilo ol jirt of idl lhl Ihii propiiro tho wuj lor
n I'haiii'o fioui Iho pnsint furiii of tioviTiiiiiciit tn that ofn
Moimrihy, of whicli thc !'ngllli cuiolllntloii ia lo lio Iho
inudil."
Tlm contents of this lcltcr werc coiimiimicald to
Col. Iliiinilton, by (!cn Wn.-hiiigton, rfiiiii'sling a
r.sply, nnd n statcincut ol'liis iews on thu stihjoct.
Ciol'll. replicd, but his rcply vaKSiiriiro.-.scd byhis
fricnds. It is nid to have cndiodieil liis iiioiiiirchi
cal yicws in full. It was u diH'ori'iico of opiiiion
on this iiic.itloii that caued thescporation ol thcse
two grcat iiicn from the cabiuct of Wasliingtnn,
nnd it was thu sanio ipicstion, ou w hicli .Mr Jell'cr-
son iipiii'iiled to tho inrplo at iho tinio ho was so
triiiMipiiniiilyelcctcilto llio I'rcsiilency. ,
Again, .Mr .lcll'crron, in a lctter tn Albert (inllalm
iu ISOa spcaking of Col. llainiltoiis ".mauiiim:,"
siiys.
u iVi.i.1 n iiiiuiinp lii thc. ltilor of iho I'ri'nlilcnl Inf thc
lliinki 1 nWni' im Idca ol e.tublMilng u tirnticli hauk of
Iho tuillul Sfilcs In .Ni'W.Oiltais. '11111 liinllliillon none
of Iho iiioit liciolly hotllUy rlllni; ni!uliil tho priiulpln
nnd loriu ol our cimllliiuoii. inr imiioii oi, iu uu uiur,
nniii.il In Ii. ni'ntlintnls. ttiaC II cuiiiiot lie
nh.iU'ii nt lhi uionii l. llut nipposo n ncriin f untow urd
o i nts (.houhl oonir, fctiilli-U'iit lo hrlns Into ilouhl Iho i oiii.
in ti-ncv (.l u rcpiililieu co ininii'iit lo iiiecl u crUls of srrnl
ilai Kor, or to iuihlusc Iho roiiliiliiice ol Iho pi-uple lu the
puhlii: fiiiirllinirli's nn liniiliifion likfc llrl., it tiftrntln
liy lnlirnmlin ifcry pnrt oftho union, iicIIiik Ii) coiiiniai'.d
nml pli.ilaiK, iiuiy in iTiunii iiiiiiik iii, upi i uu- tuinii'
monl. l iltTin i.o (.'otitiiiih iiI mifi' whlch lu iniilcr the vas.
. .i,..r,..ii'iiiiv rir I'oMsiliuinl niitlioriili's. orniit oihi riiu
lliorit) tlmii that of Iho n.illou, or lt ri sular fiiiiclloiiiirle.
Wll.lt llll Olllirill'llOII COIIUI UOl 11101 II.UIN IU lin? iiimrii
Siiid-K. ulth ull Its hranili hnliki, be lll llme of wnrf ll
niluhl dlclnlotnm Ihppiiicowe nliould nrcrpt,(tultlulruK
n.nlili. ( in !it w o thi'ii loclo furllier crowlli lu nn In.
Kllliitlon no ponirful, mi hostilf f Thitl It l o hotlle, c
Liwii.'.l. Iriinl 11 kinmli'iliipof Ihciu'lliclnlcsof the in r-
ou i'oiupA.ii' iho liody of ilirecloM In nery lninV, prln
tlpal ii." brniKli, iirul (lioni of movt of Iho nloiikliohlerm
iv.. .ii ii.. ir i.iiiiii.liliiii in Ihp iiii'iiiirc uii't iirlii('lldi of
the siiM rimuiit, aiui to llie lcrliuii of lhop. frlciullv lo
Iiiciiu niiiia. i riiiiiiiiP'eiiiioieiii'oi iio-iirii"ini .-
.nnniiii. Vv. uhltp wp are nlroi.i!. II h lliu crciilct chil
wc nMP lo I'lC K-ili-ty of our nni.iltmloii, io brlint lhl
pnwcrfjl cncaiy lo n pcrlVil n'lbunlliialloii umlt'rlts uiiinor.
Iltn.'
So inuch for .Mr J'nopinlon ofn Nntionnl llank"
That ho was tho fathcr oftho liidcpciident Treas
ury plnn thu fnllow ing oMrnct Irnui liis lctter to .Mr.
(Jallatin, in lSHII, will provc. lio says:
llut In nroVr to Iip ablo to mcel n Rc nrral romblnntlon
of Ihc liniiks njaliiHt im, lu ii crlllcal eini'rirenry, rouhl wc
...,i I....L.. l,...ili.iiliof lnHlir.N N IM1CIT.M1KXT VsK Ot'
ot ll nw viiM'.v,liolilliur niiroiMi bank lu nll tlie ilrlimllw
whrre It l( riei linl, mul lultliis thoTrrnsureri'heliWilriilt
or iiolo for p.ijineiil iit n") parllrular plarp, wliirli, n will
roiiiliicti ilRiiteriiinriit, ooshllo liavo ns hrreilil mnii)
prlvnlPilriiH.nr Imnk nole, or lilll, rtiul woubt glve "s the
saiue i.iciiiiicii wnuii ivc ni-uio hmh i.mm .
Ii u n wcll known. f.u t that Col. I l.nniltun nev-
or rnnpeded liis views on tho nucstioli. On thu
conlr.iry ho strovcto idcntify his rnirty willi u Na
tional llank.
The National Hauk party, in tho ilays nf .Mr.
fcrton nssuiiicd tliu iiamu rcderalist. The op-
Jefi
iiiwitlmi nartv. iniilcr .Mr J.. lliu namu llcniocrat
TIipii. tn liavo Iipcii n Fcderalist was undcrktood
distinctlv, to bo m r.norol u iMttional iianit. j iicn
to liavo liccn a Dcmocrat was to bo oppoicdto n
N'ntinnal llank. All ihc I'coplu so Iinilerstood it,
no ono can denv it. Tho rcderalists i;!oricd in tlicir
natiio idcntilicd tlicir llank pnnciplcs uitli it, nnil
wcnt out to battlo with the ncoiilc. I.ikc thu host
nf ibn Assvrian lltcv wcre ovcrtlirownii pro.stralci
disnorseil. This samo lino wns drawn iu tlio
ilaya of Mr .Madiion, wheii (3co. Clinton, tlien thu
dciiincratit: Vico I'rcsidcntnf tho l.'nitcd Statcs, in
his placo a I'rcsulcnt ofthoScnato, gavp lns east
iii vnin ni'alnst thu ru-ih.irtcr ofllio Nntmnal Iianl
Thu re-chartcr oftli.it llank, nt that tiine, was thu
i4iin betwi'cn tho two irreat partics. Tho I'cdcr-
nlists wcro for n re-chartcr and tho Uciiiocrats
opp-xcil lo it. Mr (,'linlon wns siitaincd in his
vntu bvnll tholcadiiigdpinocr.its,l)iiiiiel II.Tomp
kins, Mr Vnn lliiren, nnd othcrs, und villilicd, nnd
grosslvnbuscilbythufcdcrnlKirty. Thc (jnestioti
was, iig.iin, iho issue bclwceit tho two partics dtir
iii'' thu prtidpncy of (Icn. Jacksnii. Wlui docs
not know that nflcr Ccn. Jnckoii vcloed the I'nt
tcd Statcs llank, nml was followcd by tha nnathc
mas ofllio fi'dcral tiarty and tho distrust nnil ilcs
crtion nf his fri'-nds, ho appcalid to lliu pcoplc
iiikI nl.iceil liis rc.clcction ou lliu iiwtness iuul con
atiliii'mn itilt- nflloil veln ! and'wbo docs not kliow
tbat thu pcop'.u sustaincd hini Ly n re-clcclion, by
iicuiaiiiaiiuii;
ThisMinc isuc was mado up whcn Mr Van lln
rrn wns clectpil, It m thu nsuo now. I ho pnrty
in fivnr nf Mr. Vnn lliiren nro npiKicd to a Nn
tionnl Il.ink, nnd in fivorof.Mr. Ji'di'rsnn's pl.in
an "nn iiidpti.'iident ihp of our own nionev."
Onr opponcnts will not doubt tho corrcctncsof
IIIIS pornoil, "Biiei.ii iiiiiik no prooi io susinin ll.
Thu pirty who suppnrt (icn. Ilurrisoiiare infavor
ora National uanK oiu icnerainin.
As proof ofthis, vve nccd only romind our rcatl
crs,
hsh
of tliu propusitinn inadc by Mr Clay, In ctib
n Natioml llank with a caiiit.il nf lifty million'
rf ih nrnnniitioii niadc in Cofcrps liv cx-novcni'
or I'nim nf Kenturkv. lo ch.irtcr a Nnlional llank
with a capital of scvcnty inillions tho asscitiuii of
e.v-fiou'riior Cniion of Teninvseo that " ivii imist
Ii vo a Naticual llank," und iiuiueious n.isertious
of a s.in,ilar lu aring, mado in tho ti. . ctar and
other fcderal i.upers.
l)iKiiiso it ns they'inny, tho Fcderal party, tho
Federal llppiiblican party, thu Nnlional Hcpublicaii
party,. tho Whigpartv, tliu Ueinoeratic AVhig party
uroall tho same. 'll'io bloodof old federaliMii ruus
in Iho vcins ofthe prescnt fcderal party, as wariuly
and ns freelv ns it ilid in iho das of tol I liiliiilton.
And though'it niay changu itsuaino nsolUii as Iho
....i.. .i. i i. ..... :. . :..:....i.. ..ri. llm tfiiiiiu
iiiiihu iuie. liis siviu, yei us ji uiu jn-i i.i . -
'J'he stain of llaiiiillonian.alieii and sedilion law
rcdciali.iin is on its brow, nnd, nor 'blood ofbull
nor livssop branch c.m wasb tlio stain uwuy. 1 herc
it is-l"dcoply darkly beautifully ii.'f," aJ thero
it will bo forover. . .
llavina said thus niucli iu ro!ation to tho origu
nnd dcstructivo priiipiplcs of lliu two proii.n.Piit
purlips of llio duy. AVo procedo to exainino liir II
lnw niniiicnt.s soiiio ot lliu oiijections raiseu iignuiM
tho Inilcpciidant Treasury llill.
Jhu onposilion, tiaving oMianstcii uTcryargu-
nicnt ngainst thu Indcpeiidaiit '1 reasiirj , wliul.
duspernlion and sophistry could iiivent nnd nhn
inoro inan two iiiiros oi uiu ni.ues iu um mui.
have, by dcclarciiig for that plnii.bluwii llioso argi.
incnts to tlio winds, in their de. peinlo nccd lu.u
finmd iinother. in their ntiiiiion. most liiriblc dcci.
sive and coinparcd wth wbieh, ull tlio rcst are hy-
pcrion to a saiu. i ius inst iuosi appaiuig nigu
ineiit, in their npiiiiou will ileeido tho contcst ngainst
this ','ruinous iiicnsiiro." Aiul what is this new cat
npiilla that thu federal nriny has brougl to beur
upon tlm walls ol tliu ilcvotcil city .' v ny, tlie pas
siil'o of tho liideiicndciit Trensury llill wii.i. kk-
iiuce tiik wagks of lalinr to tho standard of
tho hard inoncy conntries of l'urope.
Tuko up nn oppoition papcr nnd you will sec
a long nrray of ligurcs shnw ing lliu pricu nf labor
in Spain nnd llimgary. hard coiinlrics. Appcnded
vou wi II lind thu iserlion tliat lliu nction oi uto
suli 'i rcii'iirv wi liu o iirui!! uown ino prieo ui
labor in this conntry to tho fanm low standard.
In tho I'rovidce of l'criunrd.l'icardv, I.iiiianiii,
Crissc and other l'rovhiccs in I'rnnco, the peasrint
ny aro rednced to uu iiln.ost tiiritge sUite. I.rancc
is n hard inoncy ciiuntry, und of coiirsi', say ihc
oppoition, ifll'io Indep'ciiilcnt Treasury llill pass,
tlio ltirincrsol this conntry will liu ronucul lo lliu
samo ('ondilion ul wrctcheilucss nuiUlcgrcilalioii :
Then, hcre, ns thprerlliii woiiian will bo littlo bet-
lcr than hea!.ts nf biirden Ihc door.s uf our cottn
ifcs will bo opcn upon u iliinghill, iuul wu shall ent
iiur fnad from thu inaners of our cnttlu iuul tho
troughs uf our swiuc. Spain is iiIjo n hard inniioy
conntry, ai.il if Iho liiilcpeiidenl Trensury lliil
liall lietoiiio a law, Iho samo iiii'cry nnil squalKl-
ncss, lliu uliject ilispusitiiiii iuul uiiauiiouiuciii iu
oci.il ordcr, whp'li rriariicrcu'.os'tsu luwer el.tss in
lliat conntry, will fnllow upou us, iiisltuittr 1 l.roin
thc ino-it fri'o aiul powcrf'iil pvniilo on tho gtnbc
willi iiiillious of nercs nf uuscttlpd laiidt, with a
iiinst prndiiclive soil, wu shall bccnino thu uio.-t ig-
iinrant, liiirhai'nus nnd ilcgrmlcil peop:u lliu sun
shiucs upon ; iiiiiI lh.it tno, froin Ino pnssago of u
lull, vvliicli siinply propiKi.'s that thu iiioncys nt tlio
l.'nitoil Statcs shall liu collccleil Uept, aiul iiMiursc u
nroriilc t" "-(" "' r" .'" "
nro ! VVIiv ! "ii" would 4111100.10 lliat nt tlio pnss.iuo
of tho liidcpcnd.iiit Treasury llill, tho sun would
ccnse to shino, thu iimoii bu siak, und tliu slnrcs bu
bloltcd out lorcvcr !
Tuko up uniither opimsiliou p:ip"r, iuul you wi'l
lind n harrowiug ilcscriilion nf tlm coiiilition ol
tho laboring classcs in I'nglniid : npppnded tn llii'in
vou shall lind thu saiuo usscrtiou tiliuut Iho rcduc-
tinn of thu vvngcs of labor.
llut I'u'l.'inil, iinfortiiu.'itcly, for this urL'Uinent,
is tho laud ofthis "grcatcst and bcst" nfull llauks,
iho llank of Dugland. Ilow ducs it h.ippcn then,
tliat thu liiboriug class nru so ilcprcsscd iu llngliind,
tho foiinlain Iieml, tho itlmu mnlcr ul thu papcr
currcncy, if tho iipprcsioii ofthe poorcr classcs, is
owing to n inctnlii: currcncv ?
II v llicir uwii shnwiii'', lliu cnndition of Iho Ia-
bnriiig classcs in a papcr innney conntry is no lirt
ter then 11 is inn n.ini inoiiuy cuuiiirv. u inu iu
deii'iident Treasury is thu innnstpr llut js to train-
pio upon inu pimr inuii uuii reiinco nn n.iges ki
incrcly nolhiii'.', aii'l iftliu rcloriilioii of Na
tioual' llank is tlu-ri'jlit nriii whicli is tu raiso h'u
wagcs nnd protect his libcrlics ; hnw doe.s it hap
pcii that, mnlcr tho very uyo oftho llnnk of Kn
gland, iironnd whosu bruw thu npposition have
east sucli n halo nl glury, Iho lolioring mnii reccivcs
ii pittancufor lliu sivont of liis brow, which, when
cuinparcd with what ho reccivcs iu ihis ciiunlry is
f.iniiuc itsulf.' And bnw docs it hippcn, tlut tho
cliariot oflhu licli b.inkcr, with splciiilidlv cnpris
oned stccds, dashes down into ihoilust tliu linscr
nlilc bc'"arwho crawls nlnng lliu strccls, sccking
hcru n little nnd iheru n litllu, to nppi'iie thu gua w
ings of f.niiiuo und wuiit? Ilow docs it hapiicn th.it
nt tho vcrv fect of (Jainalicl ull is splclulor, ull is
ilcalh? Ilow docs it baiipi'ii, lf thu defcat of thc
liiilcpeiidenl Treasury nnd the rc'Cslahlishiiiciit of
a ivutiiiliul llaulv will lieal ull our cvus aiul liu uiu
laburing classes iuto npulciire nml wcallh, that
in l'nglaiul thu very lieail ipialcrs nf llie tiaper
credit syslcni, tho po'or inanis n little bettcr lluii u
doi', n poor, ilcgrmlcil pack-horsc, thu vilu "carricr
oftho vilcst btirdcn that tho i!cst niastcrs can lav
upon hini." Ilow' docs it happcn, that llio sons of
the poor innn, begir.ii lile in u dilch, licgs, starvcs,
skulks from deii to dcn, stcals tho lircad that bo
ninst have or dic, nnd cnds it nn llie gallnws .'
Ilow happcns itth.it' the daiightcrs oftho poor
inan bcgiiis lier life in n luncl, nnd, Kheltcrics,
withont tiriitection. half fniiiishcil. h.ilf nakcd, Iicl's
nraysin vuinfor bread, untill nt lasl hopelcss, a
ii.iu'doncd. sbu obtaius lliu liv pmstitutioii llrj iucans
of siistciunci' aiul cuds it ou tho inarbSu sleps of
soino l'npcr rrincc, ulieru shc lias soui'lit lii.'ltc
from the pittilcss stnrin, nnd froui vhoodoor in
thc day s of hcr inuoecni'cuiid bc:iuly,sliu lud bccn
spiirned with dcriiiou and rontciiiHt ? Alas! trrat
pcnplc shniild bo so ilcludeil, so liliitdcdso iiisaiiu!
Thc truth is, tho ciiiniiion or thu laboring class
cs iu l.iirupo nowiiig to their Jufinwif guvernment,
o their iiiMitiitinns, nnd not tlicir currcncy. A
hereditnrv and insn ent nriitocrncv. n corrutit aml
grusping pricslliood the union ofciiiirclinnd state,
grnuud llio lowcr classcs to the vcry dut. Jlirlh,
uut uorth, ns in tbis country, istlicitniiilard ofe
cellence iu Ilurope ; and vct the fcderalUls, dc
clare uinat siileninly, that tlie pas'.ige of tlie llulc
pcmlcut I rcnsiiry llill , w lll do lor tlio laboring clas
cs of this country, in a day, what ycars iifiippruss
ion, and tuisrulc, nml scns of blood have donc for
tlie laboring classcs iu tho old vvorld.
llut this cry oftho npposilion nbnut the rcditc
timi nf tlm wngcs uf labor wns got up by ngrce
incnt, for polilical clfcct. It wnsa part ol llie fcd
eral plau of opcrations. This is show roncliisivc
ly by .Mr Davis' tperrli. Th.it specch wns no
uiorn n rcply to Mr lliiclmi.iu's tli.ui it was a rcply
to C.'c.Mr's to his soldicrs bcforc hu p.isscd thc Itu
biron. It was a spccrli p.-cpircd acrnrding to thc
fedcnil pl.iu ; n specrh that was todeclaro that thu
Adiiiinistration wcre for rcducing thc vvnses of la
bor. It was ag.-ced upon by tho federnF lcadcrs
that, lli.it dcclaratiod sliould be iii.ide, aml that nll
thc ncwspapcrs in the uation nltachcd to thc Mrtv,
rhmild piiblish it, by tcns of llinusnnds, nnd ccfio
nnd ra-echo thc cry. Mr Davis Ind his spcccfi
prcparcd and delivcrcd, whcn the most favorable
npportcnily occurrcd. It was no niattcr wboni hc
fnllonid.or to whoni he prelcndcd lo rcply. Aml
iu pronfof Ihis, rcad .Mr Ilucluiiiiau's spccch and
tlut ofJlr Uavis, nml auv innn In his icihcs will
sco that Mr Havis has rcplied to what, it was njjreed
slionld bo put iuto thu iiioutb of some Adiniuistru
tion incudicr. Siiuiiltaiucoiisly willi llie delicry
of .Mr lhW spccch, as by ngrecnient, nnd nnt
willislaiiding, cvery federalist in llio niiioii, vvhoj
coiitrollcd 11 lalinringiiiun, cithcr tnrncd biui out of
cinployiniiit, or cut cowii his wages ; harping iu
his carall llio tiiuo what Mr Davis had put iuto .Mr
Llliicliiinan's inuuth, and artfnlly piirsuading tho poor
inuii, tliat tlio rciluction ol lns wngcs was cntiiiga
blo upon thu Adiiiinislralion und not upou his most
benoviilciit and pious cuiploycr, who was huMing
his white liamllicrcliief to 'liis ejes aiul sbiddiiig
"copious giishing lcnrs" for liis iiihuiiiaiio c.xprcss
ion. Delieale, white-fiiigured, f olngnc-seentcd,
Boap-locl.cd fops, who for tho salvation of tlicir
miuIs wouUI not bo caiight with uu itiiplcincnt of
niaiiiial lalioriu their haiuls, wcresccu ull ncr thu
niiioii, lip-tocing ubout tho work shops ofllio 1110
cbanic nnl tho lields oftho farincr, tappinglhu toes
tiftbeir ioo,t cAipiiitidy polUliril boots VMlh their
rnttans, sMi.palbisiug with him in his distrcss, nn
chargiug t upou tho "ruinous incasurcs oftho Add
iuiiiitratiou," o,)irt ronsciencc! Iland-bax gcn
try, who if llicir iivcs dcpendcd nn it could not tcll
n cidcMnill fuini n log ciibiiiu, bcgan ull ofn sud
dcn, lnlii mot delicato aml splcndid nonsenso n
biiut tho rplendor of .Mr Van lluren's bluu broad
clolh clnak, his gold spnons nnd his coarh aud I'n
glisb bloods, nnd tho old frock nnd i-lieep's grcys
iif thu poo; mnn's ciiiididato ; who if clected would
Iill their puckcts willi innnoy to thu hiini. All thc-u
tliings have bccn done liy'iigrecincnt liavo becn
donii to carry out tho fcderal plnn of opcrutions
to nbiise, insidt nnd dcccivu llie laboring clacs
into tho suppnrt of Gcn. llnrrison. It reiiinius to
bo shown, 11s it was moit triiiiuphantly, that thu
giiiiil scuc of tho laboring iiicu in thu L'nilcd
Statcs is proof agaiii'.t ull lliis shiro iioiisense.
llut, ngiiin say Iho pppn-ilion, tho prescnt linan
cial ciiiliarrii.-mcnls nro solcly iitlributu lo thu dc
struction nf llio Natinual Ilauk nnd tho uttciiipt of
llio ilciiiocratic party to cstahlUh an liidcpeudcnt
TreitMirv.
Iu IHI I, 1818-1!), 182-t IS:1.-!) pecuiiiary ctn-barriw-uieiils
wcro ns grcat nnd cven grcatcr Ihan
tbi'V nro now. And iu soino of tboso ycars tho
I'lilted Slates Ilniik was iu its ineriilian splcndor,
giviug us, ns tho nppnsiiinii sny, "thu bcst currcn
cy llio vvorld ovcr savv" Surthj, lliu cnibarrass
ii'ioiiIs uf llioso ycnrs cnnnot be atliibiitcd In Iho
"oilious awful mul riiinous Snb Treasury." To
what wcrelhey altiiliiitablc. llcar.Mr Clay 111 1821.
"In rnilinii (iiir c)cs nroiiiid us, tho iiioit prnmliinit ir
(iiiiii.Iiiik'1' wliich lhe our iitlciiliont iuul clcdlcni.'i'S our
ili epei.1 irv'ii'l, U llm eiiitrnl itinlrmi wliUli pnviuUs llie
nAoc riwntry. II U fnreitl upnu ux, b) niiiiiiriiiiH lai t
nl llio 111(111 liiriiiilciti'hloiliarncUT. II is hulli-iiliil by Ihc
ilinilnlnlinl ixforlf J uuthc uuiuri-1 ti-pn-i-cd und ro
iliircil ol'oiir'lini'i!ii im'rli?il( by our itimiulihul rom.
mrri-r) br miccwlM' iiiillirrdiul eiopi of ernlii, ftrhhve
In our Ji-in lind barn ards lor tho vvnnt of u iiuirlnt by
tho iihriil!i',(Wmm'iiii ofttie cirrnlrillnr iiifiliunn h)
lu. i.nniiniM hnulrinilrlit. lilil lllllllcil lll Iho Iriulllll!
frl.itsestliul PMi Killna lu nll rAi r o'no-i ly h nn hiii'i-
nml i otiipliilnt ol llio imiirp ri'ivo.vi.Miu, iion n rnn.r.
1'irnt rriluclinn uf ifiirm Mnri by rnui.oin piirmill
iilter ltuatloi s, n?t (it llio Miku of thi lr liouors, timl Ihc
pcrforiiinirc of their public ilutlcs,- Imt ns n iiicntis ol" jiri
vntr Hl,thltiu r the n liutaiil rworl to tlm kmom
. ..rPM'l'.lt MON'KV. hv If.V intrrvt nliiiii nfi ? "siinn
in Ihoildidite ril.iliou utiUblnrauAtrtilllitr amldtoii' ull,
ili'iiLri 'Iion oi riu l"rtii(rii'l" iif tlir
lll llm lull nii.l 1miii-...( "l.iiln fillltn mii
riplioii ol l'i
!.. m..l .
r liropt 110 tlir Itfltlrilt
wblcii lo(ii ou nn ni-r.itp, niiiik jtul (' tlniu lUioiil o ptr
cciil., wlllils n leiv rr.
' t t
"'I'lip trulli ls lh.it no i'lasi iifsocliH siiHi'Miunrr, in liu
nrcsrnt rtiupiiu'nn oflinliie lliuii IHt Ifbnrlne pdr,
Tlmt Is R' iiciTi.sary i Hicl oflhu ileprrisloii nf nsrli iilliup,
llie prliidiiie tiiiikiies oi iii.i I'oiiiiiiiiiiny. ino wim noi
nblp binlii'd mrii vnrv from 8.1 lo" mr moiilli. ninlnii'li Im.
Iifi'il Iho irnnt nf tMiihiimtnt, In nmie pnrls nfllic Union,
that Irsl.inoiM Iuim not lniii 1 1 ii f.-cj n -ii I , of inrn wnrklinr
niprcly for tl.c uiriins orpri'M in iiiiiiiiicc. u thp vrni!cs
nfl'ilior licrn nnd lu r.ncliiiiil wcre coiiipiiiiil, i;u) will hc
fo.liid uut Ki ho ('( ullnlly illllirciit."
Aiiulii lu'.ir mr Wclntcr lu llie naiiie vcarea tlivsainr
silbjett.
Tlie riPKn iVstkm r.f nn" .nn Iuul rrrtiilnlv cniuniii
nlcnted im ariliciul v&tiiclo pioperl). ll Iuul inoiiraiil
Aiitniliiiiiiii, mul evniPii oerrir'niiii.'. ih ii uo' murk
iliin torc. t unp. un i Ihis Uol( nt urtnurt for iimney nclu
ul t uni' inn.nilit on llio roiilliiiut uilil lu i.iiijiaiiil.
Inllati'il nnd iiiiiinluriil prlces rnulil l u kepl up no loiutr
A reiloilioii tonk pl.irc, wliuli lins Iiciii utiiiiniui lo iiiivc
hoi'n ui Iuul iiiiiiil lou f.ill ol'llilii', ll'noi t'orty prr nii!,
ThoiKpiis.ioii wiis uniiimrtll nml llie clini""- wss Iill In
Ihc VnilrJ llatct CMiily, lhoai;i nol eipiiill) nn lll cvirj
uart i.l'ri-in. Tlii re nru lliu-o. I inn nwnrc, v.ho iiialiilalii
.... ti .i. i i .. . ll. ..r. .1 .l..i ..... ii...
Iitai uu' eii'iuii iu wiiu ii i ioiii iiioiiiiii oiu uiii-iiiii.r nn
".nn l'..ll c.l' nrk-f. t bul lli'iti:illuiiliiraliiiidhellible, from
Ihc lirrvluii.lv clllii nlnle nf lliln, Ihc iil.-iiu-lalu. u nf
ciiiinedillcj, nml thc wmit "f ilcninnib Uut tlmt woul.l
niilr iirnve llinl Iho ell'i'CI wns iiroihirrd lll nnolhrr win
rnllicr innn oy iii.ouiir i.ui"v. n iiiou (jri.u iinu nn.aicii
rulls lfir iuonrt dldnoi reiiiii'e pricr", bul .ri(.ei MI, n ul'
tlu'iiiM ln s to tbrlr uiifiiriilhiiitr, nill llioii aiilt Ii llu'naiiie
forwe nrici r tliat nltcr llie" new rn Is lor iiiuuvy
iirirri tauU iwl br kivt hnstr ul tiHimtiirutli(ieltt.
Auolll lllt 111110 oi IIII'ko pireiKii i-ii'imk. nur oofl p.'fiMiu
7(fi,i tiiultriteiit n tkinvt t nml u'l thcrr nrinn, In mi
1 1' IP nf nC SHr'j'ri roncilflTil loi'nxivsi l.ir znai iiuca
ivhleh Itn'k ctact h mirinmmirenil eltiti.nwl uhmh iwla
nf llir cnuiitru, Tlir viur 1"19wui n uur of niuiiriiiu
.i'.. . . . i i i . . .ii . . i ii
lnlliin s, nml .very roiiMin nioic niui".a, uim ittnu nnir
rornl.liiil fir bi'iit r uroiiinU lliiiuevlsK ul irei'iil for Ihnt
UliHiniy rt'prisi ntiilion of nur i iu.ililii'ii whicli Iiim been
prrM'iitol. ,ir .peitiier uas iiiiuocii io inr irooK 1111.11011.
lioiiMhlih nMhiir lns cvUlcil. In vnrloiu rH of Uu1
rinuilry, to "'" I'Upir M'ihhj, im 11 prool nfirrcnt rxfatliis
illiliriilili'. I ri'iuiril It ruthrr as u icrt nrmliicliie innn
nflltte dlffiriillirs nml thc coiiiinillie will nol fdl lo
i'iIkitm' tll.it U ul lliU iiioaielit,iniii'lilhi' liiiiilmti'oiiipliiliil
ofill..niiprirl''ilj ttlicru lliorc lias birii tlio grinliil nl
leinpt lorolicie ll b tyiltun of 1'AITU rrnlil. And 011
lliu otlu r lutiiil. coi.liiit, I roipcrlly iind lmpplin srcmmt
nb.irtutilc In thime pnrti ol' tlir (0111.tr), wliue thcrr liu
Iiii iI Ihc leait iui!piiMr tu ndiuliilntir rrlli l'b l.ur. In
truth, iiothina Is nibunif'il, mi nlli rly riilnoiM loidl Iruc
liiilii.lr),iiiliilirli'rcliii!Wllli lcsal viiioooi inoncy, or nt
I11111 lliu. lu rnlM' nrlllb'lnl stuiularili lo mipplv lln plui r.-
Huili ri'ini'ilUs iill wi ll llie splrlt cf i-xtrnvacaiit spriula.
Iion, Imt Ihey ap llie trry foiiiiilnlloi. of nll hoiuil nciid
klii.m"
llerc wo liavo tho tntitcil opinion of two nf thc
'retitcsi nieii nf llie ngi'. Ilow iiiliiiirnlilr llicy n-
grcolAndhow Irnly thcy h.ive giicu llio ju.it
I'iinso of nur cnibarra'Hiiicnls. I.ct the fiiriucrs
piindcr tlicir rcinarks aud hu wisc. Tlmy will scc
lb.it ncillipr .MrClnv nor Mr Wcbstcr ntlrihiilcd
nur fnrnicr nccuiiiarv Irnnblcs lo lliu ttiinl of
Niitinnal llank, to tho nction oflhu Snh Treasry,
nor tn llie Adininistratuiii, but to llicir truo caiiac.
The re-aitioii npon our systeui of p.ipcr credit,
by lliu papcr syslcin of laiuland ; lniislinci.il priccs
niid 'cvlr.ivuga'nl spcculntioiis'
Iu f.ict nur tircsent pccimiary cinbnrrnoicnts,
nru lirniialit nbout bv raii-M ns cnniplcluly bcyoiul
iho roulrt.l uf tbu Ailiniuistrotioti ns nro Ihc clc-
nicnts. i:crv inan knows this, nnd still have thu
nppinitinn ihi''i.irililiood 10 cndcavor to cajolo llio
f.irmcrs into tbu belicf that llie clcclion of (icn.
Ilatiisoii to thu preiilciicy will nb'olve hrokcn
icrulatnrs from dcbt, rc-lill thu pockcls of idlu
fjan.lilcrs in bankstock with innney nnd thc wlmlc
world with suiishinc. Do Ihev cxpcct that fi'cn.
I larti'on's clcclion will make llie brcczcs of hca v cn
snfter. thc rav.s nf tho sun brislitcr and wariner
nml llio siiii.iii. nf birds swcctcr ? Time. not ihis,
or nnv othcr Adniinislral'mn, ninst bcal llio scri-
iius circct cvccslve iiiipiirtuluin, rni-o llie brokcn
sncridalor from thu ronsomicnec cf his cnslcrn
l.indiiiid nlhcr South Sca Uulddo speciil.itions.'
Time. niidiint Mr Vmi Itnrcn, not cvcn (!cn. Ilnr-
rion aluioit nuiniiintcnt to rcitnre us some pretcnd
to thiiukhiiii, inust bring nbout a bcalthy slate of
public cpniKin upon the cvidcnt causcs ul ull our
diatcrs. Time will do it.
Thc pntiosition s.iv wc mut havn a National
llank In icgnlnto llie statP banks. It is nilliricnt lo
F.iy nn Ihis point tliat during the p.ihuicst day of
ihc frc.it rculntor onf. itu.inntcD ajid sixty
r.tail I' ftale banks wcnt to utter ruin I A singn
lar rcgulator ofslalc benks.
Inrcgard to thenrecnt bankinj syMrm, Ihp iin
ilcriiird ln ho fi'llowship with it. Ilc bcli.ivcs
tha ban'i.s cflhe statou livinz cur-c to llio f.irincrs,
n cnukcr npnn thc body poli'.K Cf whst bcnclit
nro tho banks to tho public ? Cnn Ihey get u dnl
lar out of thein ,' No, Whyilot' Aro thoy not
in uu uupruccdciitcd conditioii for discouutiug ?
Vcs, 110 0110 will dcny that. What is tho troublc
tlieil? TIIK BANKS HAVE TAKEN TIIK I'O-
i.iticai. t'lKi.D tliat is tlio troublc. Tho bauks
iu this stuto, control tho currcncy of tho state.
i hoy nru tlie cneiuics ol tliu laboring u.an iney
sw iudln hini out of his honest ducs. Thuy control
thu pricu of thu poor inan's labor. 'Ihey rcduco
his wngcs. Thcy rouipcl hini to go tn thu bullott
bo aud voto ns thcy tcll Iiim. Tllis is what thcy
havu donc, uro doiug this iiiomciit this vcry ino-
nicnl, their caslucrs, uud dircctors, nr.d tcll-
crs, aud feu'd lawjcrs aml bribcd cdilnrs, nnd uiis
eralile dcpcnilciits nro klniiding in thu ptililic hous
cs, in tlio strccts, intlio l,nicsundtho by-wnys, nnd'
by tlio liciles, vilhlMUi: nml alni-ui" llio Aduiinis.
trution; calling iipmi lliu poor uiau to voto it down,
conjuriug hini by tho wnnt of thut vcry umploy-
inent, ol which (icihno deprivcil him, to utmii -
doii his principlcs, aud support llicni. Two or
tlirco ycars sincu wlicn thu tcrrililo Ailiiiinistiation
was warring iipnn tho liniiks, nnd thcy daro not
(INcntint n ilollar, whcn llio sull'criiig farniers who
had brealhcil lliein iuto exUtcnco could not cnni
maiid, willi thc bcst naiiics in thc.stntc, u singlu
cent, ccrlaiii speculatnrs took tlioiis.inds uud thuu
sandsof dollars out of ihu Vermont banks aud cn
gagcd iu tho llour spcciilation. AVIuit was llio con
scipienco .' It was mn up tn twclvo dollars 11 bar
icl iu lliirlington, nnd thu poorlaborer, who licforn
lioiiglit it lor six nml sevcn, wns ohliglicil to pay a
pricc iloiiblcd .' Who mul what causcd this in-
crcaso in tho nrico of llour nnd thu coincipicnt suf-
fcring nf tho lubnriii!' uiau ? O, the Ailiiiinislralion
and ihc nwfiil Suli-7'rcnsury, of courso I Uut, as
.. . 1 1.1 111 . . f
tho liaiiKs iiinuu tno pour 1111111 pay iinuiuu prico lor
his llour, of courso, hcing vcry hiiiunno bcings,
ind ''rcallv ilisturhcd, nlwuys, tor tho cnusu 01 1110
poor nian of courso lliov rnUcd thu price of his
labor! Did thcy not? 'llid thuy .' NO 1 thcy
inadc thciusclM's rich and let hini slarvc. Thcy
lir.d thu currcncy of thu Stnlo iu tlicir ha'mls, thcy
mado Am navthein nhatfieu nlcascd for his bread
nnd thcy paid liiiii what thcy plcascd for his labor.
rtllllinpasi winicr, wneii 1110 iiuiiiugioii, 11.11ms
111I1I not iliscoiint lo tlie pcnplc, n ccrtain lcw liavo
had Iho control nf ull lliu inoncy thcy wished !
7 ho banks 111 tho htato-ns thoy nru iiuitiagcit aru
nn bcnclit tn tho pconle llicv only beiiclit 11 fow.
It wns jut said tbat llie banks have llio control of
t iu ciirrcnev 0 tho stute. iViioui ono suori ycar
sinec thu banks in th stuto had iu circuhitinii not
lar I'roin two iiiillinns nf do lars now thuy iirob-
nldv Imvo not ono ! 7'hc whhdrnwini! from nctivc
irenlalion 111 ono sliort ycar ol nliout n iinllion ol
dollars 111 tho little state or crninnt, cau navc no
had cll'ect upoii tho biisiness inen docs not hclp
inako inonuy " igif.'" (Ih'no 1 It is thu Admiii
sitration tbat docs all tho niisehicf oh, ycs !
Tlm bauks aro Iho 1: ui.o of Iheru ht'ln! o little speclc In
llieiiiiiiitry. Iliiirinr wdi.tir in IcICi
"Wln Ime weso miinll uinoiiiil ofsppclcln rlreulntlon
Ci rliilnlv tlio nnl rcnioii h bipiiiiMj woiln not rc'inire
niore. Wc liiirc but tu nnk III piofncc, nml it will ro-
turni luil wc volinitnrll) binMillbv llie lirim noioiint m
H.nall Imnk liolpn. Ia moit of Iho rilntcs, thc banks Isiiic
liolis of low ilriinniliinlloiH, iioimi evni 10 n twius oooar,
1. 11 1111..11.I1'. uiulcr surli ('lii'iii)islniir(ii, lu rctnhi
bpeno 111 elri'uhilloii I All eiinlt'iii eh(mii ll to bo lni (1-
.lili. Tlu. i.iiin.r it-lll IiiLm Uii i.Iiii i ul i.r.l.l 11111I nlhri1.
The rt II. lln 11 Is tlie ii.iiuiii nf imall i nu s b t'tutc bauks.
(If Ihoe nnlcs, llml Is to a, of liolcs unili'r IU dollars,
Ihc iiiiiount now ln clrciiliilioii U iloubllris clulit nr ten
iiiillious nf ilnllnrs." I.'nu lluse notcs bc wltlulrnwn t If
Ihc' eiin, llieir phii'o will be liiiiiiediiilel) mipiilicil by ipe-
eip I'lri'iiliitloli of i ipinl uiuoiuit. Tho snbjivl U 11 Krent
one. n ll Is rnniirrlril with llie miu iv nml ilalilllt) nf Ihc
i'iiiiiii('), nml wllljn.liry 11 serloiisri'llictlou 011 tho iiipiiiih
ol iii'roinplisliliii! 11," liis inn ioroiin'ri!tii"i(i nii-
ow 1 ip l'I'uii cxnin 1 o 0 noio w 11 11 11 nare nro 0 oiieu 1111:11
'iiul llie work Isdonp. We iuiihI liopo llml nll notes uiulcr
lliuiloiinrs uni) hc iiillrrl) wuiiiiriiwu Irniu clrruinilon
Is uot this coneliHwc .' Thu tn'oplo of Vcrinotit
sliould iimlrstaiid this niattcr. I heir forcf.ithers,
hnnpst nnd wise, rejiudiatcd n pipcr currcncy ns
bi'ing riiinous to iheir hesi Intcrcst. Thcy vvcrc foi
gold 11 111 1 jilvcr.
Tho ircnlC'.t einharrnssineiit cited in this Ptat
nfler tho cloo nf llio Iti'wilutionnry Wnr. The
pi'i'tiufciry cnndition nf lliu pcople wns ten.fold
wur.si'thaii it is now. roverty nml xinurupicv pei
Mided uvcrv portion of tlm Stnlc. Tliere werc
.r r .1 . ...1.. . i...- . 1 ...
gailicrillgs 111 uiu peopie, rcswuiuons p.s?eu r.
prcsin nf llio sensc of the comniiinitv, und u
tirwiHprcferrcd to tlio lcgislalurc, prayiug that bn
dv tn ndopt sonic iiica.surcs of rclit f, In 178(1 thc
(icncral Asicmblv took into connlerntiiin the sub
jecl of 11 relrcu of griicaneea, nsct forlli iu lliu
vanoiis pctilinus ul tho pcnplc, nml nilnplcil suvcn
ili.tiiict iiroiioiitions, mul rcnivcil that 1110 saiuc
slioiihl bu rcferrcd to tbu fri'i'iuen of thc State.
A1U0112 thesc diH'crcnl iirnpo-ilious was ilmfollnw.
iug, dci'iueil the nust iiiiportaut mul which clicitcd
Iho gtcutost vntu : " iVniif Ihc h'guliilurcaullior
i:e Ihc emiwon of a llank vnitcr Currtncu V
This iiicslioii wn jiut to thu pcoplu nml tho fol-
uiw ingis UIU XIIUJ lll UIU SOLTill IUIVI1S US rL'CUC
ded in thu Jounals of 1787.
t'roin llie IIihip Jnnrimls. naic 11.
riunvv. KkbihhiiY S.1, IJdT. Vijrieuhlp to ordcr thc
Clcrk iniiilc thc liilluulus rrpiirt nr ilaliii; of Ihc )iii nnd
1:11s nf tho friciocii. 011 I lir iricral qnrstiunt rdalitc to
piulcr inoney, Iniilcr nrl, Ac. vvhlrli was rend I11 Its nr.
01 r. MZ!
7'airui Faptr Mavrg.Tount. I
Vc.11.
Ilrnnlntton 0 Ius Wli.ilmr
Miiiicliislrr 11 8S rSprinsfclil
I'owiml -W 21 Voo.liioi'k
Sliallnbury 0 llll llnrtlai.il
Arlington 3S 1.1 Krmtlnff
Siiiiilitlnnd 2'J ' Cnvrnillih
H.imlsatp 13 ! Xorwlch
Slnnil'ord 11 12 Wrnirnrsllfld
lliirK-t U Sli l'oiiifrrl
Itupirt 1 S-l Itojnllon
Hhnron
156 -lll Ilnrtrord
P.l.tlniul 13 41 llarnnrd
llnnby C'hinUr
Clirriulnn 0 91
Tiiiiiiotilh 0 4.1
I'.mkl 1 (9
Poultney 2 60 Ffnrhntn
llr.miloii 12 21 flrnironl
Will, 5 29 riiiiMhall
(,'n.llrlnn 0 .10 rtuiulolpti
.Mhlilleton 0 6 llrookllcld
Ira 0 U Vrrthlre
Wnllinsford 5 M Moretown
Orwell 1 '11
I'llliford 25 13
Wirtburjr II
Jcrlrn
Vcm. ,h.
s lir.
4 2.1
0 4fi
0 51
0 45
0 20
1 Sli
0 37
0 .11
3 .10
0 21
5 30
2 1
5 3-'
20 5t6
12 1
0 2f,
0 7
20 0
4 ie
2 23
31 1
69 76
9 IG
0 11
0 II
a 0
0 19
17
5'il I'anlnn
41 FirrUhiirj
11 llurliiif lon
1C Cornwall
U'e.lmlnlilir
.Nrwrine
Allirns
llipiinle
llnKfnv
Whlllinhnm
Dumiiicritofl
(uilford
Wilmlnclon
Tonillnson
Itocldiicliniii
Marlboro'
I'lllllPT
llnttlrbnro'
Townshend
Jnmalrn
Wnrdilioro'
i
0
19
0
0
0
1
0
2fi
C
26
IS
0
0
0
21
3
0
2,
21
36
20
31.
RCCll'ITl'I.ATIll.X.
3 nrnnlntton Co.
4 Itullsii'M.'n.
29 Windham l?o.
61 WlnJ.ur Co.
79 OranspCn.
ISAihli'on Co.
II
32 Total
isn
75
119
20
69
I
416
521
49?
5")
7f
6.1
4-.G
3197
119
493
Hcre it is. Onr fithcrs, tliough borne down with
ditrcss nnd hankruptcy, had "yct nioral couracc
cnnugVi not to rcsort to "a tcnipornry rclicf, whhh
woiild cnd in distrcss still tuorn oppalling.
Onp thlng ! ecrtidn the pcople i!o not w sni. itich binU
as we hsre row lliry will not hr the m long. Tlie
.;rfsrconlhepicfln the lut Ihmul. Thcy hr
I'liptnUiitty atlrmntfd lo rrfnrm thc bnnki, anil IhP hsnk
hne delcrmlned that they wilt not b reformwj. Mln.l,
liowthclfndrriinfthewhlc party ineer jt the nank lle.
f.irm Ihe pcople enilcntprfd lo cjirry out last yrsr. Mlril
'.J.L..V-... r.11 In ihr lcri.lliire. bv llicir inmt
",.,'.'. "'' . i'"j.. .. . .n.t,..nrl l.ilnm rrfornl Intu
I nniruiou inniun.. ..,... . - - , .
! rhlli'lllr. Milul tlirai ntnlit uioonanu ouivr iuni. .
ptole can ec wuai 111c uu i.
'JI10 Yuu.vo jif.s, inu-t tnke this ii.atler inr
liand. nnd carry out tho rcforin thoy coiiimeuecd
last ycar. It isliiuc, tbat Vermont wa rcdeeiiKil
from the lr.inils of lier prcsent rnlcrs. Sonm half iv
dozeii nicn liavo mado tho .Moiiiituin State a pack-
hoiso long ciinugh. I.ong cnou'ili liavo thoy uscd
hcr for their iiggrandiseiiicut. I.uug cn.iugii havo'
they paralizcd ihocncrgies of Iho state, by luading
tliein down with irrcsponsiblo corporutions nnoV
privilegcd n.onopolics. 'Iho llank Ari-lncrnls nf
this stuto liavo fiittcncd for jcars upon hcr very life
blood. 'llicy liavo cnlailed upou hcr u systeui o
i.irtial legi.slatiou that Uas suiiK lier liun un 11111 111
lopelcss I ankriiploy. 'Ihey have crealed 11 sti to-
dcbt of n.oro tliau one iiUMiiir.i) tiiousam-
nui.Aiis lliov have. iiidircct viokilmii of tbu
cnnslitnlinii, npplicd tho public uioncy to privulo
L'harilics to llie iiiiiount Iiioro tlian 20,111111, unuars.
I licy havu lost to tlio statu, in tho sliort space of
siv ytiars neiirly fouii mii.i.ions of boli.ai:
111 cnttlu nml horcs uvpmtut. I hey nave creatcun.
SchnolTuiul dcbt of 711,(1(1(1, do'.lurs. 'I hey havu
in u litllu ii.oro ihan Iivo vcars crc.ited 110 lcss thnnr
ose iiu.vniiKii anii ioiiTV'iircpoiiiblc.corpo-
rations. '1 huy havu incrcascd thu indebtcdncss of
tho pcoplu tn tbu banks ovcr tkn MiLi.to.vs of
ilollars. Thcy havu tiiadu legislntinn n suioiiv 111
for svvindling ; thuy liavo tnld thu pcop'o while
they wcre ciinniugly iiiaiia'iiveiing Ihtni iuto dibV
In ench othcr, lliat they wcre bccuii.ins richcr us.
II, wuciioiiu 111a 11 givci 111s iiaiii 111 ius iii iauiiiii
for ten dollnrs und takes his ncighhor's for llie-
samo siiiii, they nre cithcr of llicni worth more fnr
tho cvuliaiigi! ! 'Ihey have tolil lliu pcop u lliat
tliu vvay to bccoiiio'rich is to inlrudueo forcigu
capital ns if, scnding uur ii.oncy out of thc slutu
fnr forcign grnin, wns bettcr ihiin'to raic our nwit
gruin mul kecp our own inonoy ! 'Ihey havu tolil
Ihe pcoplu tli it tho moru papcr inonuy, thu 11, nro
wcallh, ns if, cvcrv dnllnr issued bv tho banks is
. . . 1 1 it ' 1 tr. 1 .
not lcnt to tho peopie wno nru niiiigcii 11 uiey 110.
nnt liwu it bv n fuilure of thu bank tn rcturn il
siiiiietiniu, wlili un cnoriiiniis iuteret, whi'o nt tlm
sauin liinc, tlm 7irfttow dnllnr, 011 which Um pco
ple aro coii.pelliil to pay intcrcst, has drivcn tho
rcnl dollar out oftho couiilry, 011 which thcy would
have hup 110 intcrcst tn pay. '1 hey have made pa
pcr tho sul.stitule for, not' tho ienieiitntiie of
snerip. 'I'bov have liuilt no nn inllucuce of vvcallli
ns h'mh ns " Imgo Olyn.pus," ovcr wliich n joungr
inan can iiRvcr cliii.b. 'Ihey liavo rhartcrcd cor
porutions for tho pullic poo.l, but have rcfused lo
nltcr, aincnil or rcpcai incsu cnariers wuun uiu
public gnod rcfuircil ihcicby creuting u innnopo'y
111 violation of the iiialienablu rigbts of ihe pcop'c.
'I hey havo hold llie priccs oftho iiieehanics' labor,
the priccs of llie f.irincrs' shccp, his calllu, his.
wool, Ius liuttcr, lns clicesc tu ineir uanus, miu
havu coiiipellcd him to scll nt their priccs or starve.
'Ihey havu donc iivery thing tbat nicn, iiaturnlly
hniiiihty nnd iiinnarcliical in tlicir principlcs, cnuM
du, backcil by a tiii.e-.-crving lcgiiliiturc, to lii.i!(l
iipnn Aiiistochacy ot Vi:ai.th, 10 uepresH
tho Ukmociiacv of LAiion. lf thisAristocrucy
cnnnot bo ovcrllirnwi: if ihe pcople cnnnot frco
lliciniolvcs frmii n tyruuuy sa ueuilly, froui silfh a
dcspolic oligarchy,
"CoinodcspotofUussia.lliy fect let inektss."
But lliov will frco tlu'insclvcs. In all parts of
tho stutu they nro :iroucil- llio Voc.va .1Ii:n
uro coiiiiii!j lo tho rcscuo of sho MountiiinStntes
they will rcdecni hcr. STATi: UKI OII.M. is their
inutlo, vi;lory niust bo tlicir revvnrd. The dcino
eracj' ofVcriiiont havucvcry ibiiiglo hopc. .'c
tiun, untiriug und ccaslcs.s nction Ls ull that is neces
saryuntlicirp.iil to cnsiire a glorious triiiinph.
Thuy havu never put forlh the half of their strei.gth.
They do not know tlicir strcnglh. .'1 hoy wcre ns
liinished that thuy could do so luueh us thuy diil
last yoiir. Thuy can dn moro this. I.ct lliein
rally 011c mul ull uncc, nnd 1 lio Stutu is thciis.
Vish tliccpilhels "n. zrmtmf nnd thu "pet
ti.'nat caudi(l,".tc," us upp'icd lu (u;n. llnrri-on tho
uudcrigiieil wi'l havu uolhing to do. Willi tho man
fi'eii. llnrrison Im has iiothing ln do. It Ls thc priu
ciplcsof tlio 111:111 willi nlii-h hu dcnls. (!cn. llur-
rison's fricuds claiiujiir Lin iisiiuiuiate military
skill ( vcry wcll, let lliein dn so. Honiiparto pos
sc'std tho samu ipialilv, but tlnl would not liavo
filled him to bo tno fatlicr ofn grcat peopie. His
principlcs werc defective. Sl.illfuliicss, gcncrnl
ship, br.ivcry, are nll iualitks which ciiiiiiiiundt:d
ii.iraliun nnif rcspect ; but mcn urenotliing prin
ciple cvcrv lliiug. Tlio history ofthe vvorld sliould
vvaiu us ofllio ilangcr of forgclling principlc in our
lovuof iiicu. Cn.'iar, Sylla, lo tlicso mcn tho l!m
press ofthe vvorld bowed hcr head, in vvild idola
try, whilolhc principlcs they wcre ilisM'iiiinnting
wcre iiuderiiiiiiing hcr iiiililulioiis, nml hastcniiig
hcr ctcrnal ruin. O! 110, mcn nru nutbiug. 'iho
sp'enilid genciulhi)of (i'cii. Ilarri-on, thu coli-uiii-tiiatu
jiiati'siuniisliip of .Mr Van llurcii aru nolh
ing, pf no nccotiiit. It is tho principlcs of llu-so
iiicu for whicli vve nrc to Inok iuul which slumlil
gnvcrn our suppnrt ofcither (ifthcui. Il is hopcd,
then, that evcrv freeinan will vvcish tho inrtt'cr cnn
didly. If lio Im fnr lliu re-e..tal)li-limcnt ofa .Nn
lional llank for llie iissuiiiption of the stnto dcbt9
for iiitcrnal iinpriiveiiicnt miioug llie statcs by tho
gcneral giivcrnuieiit, llicii let him vnte foi (icn.
llnrrison ; but ifhcbo opposcd to nll llicse, then
Iit him suppnrt .Mr Vnn llurcii. It will bu thc cn
ilcavor of Ihc iindcsigiicd to kccp principlcs, uot
iiicu in vicw, nml ho ho'ics that iu the cxcitciucnt
turiuoil of polilical vvarl.uc to be nblcto kecp tho
coluins oftho A01: cntircly frce from pcrsonal a
busc, nnd p.irlv uinlignity,iind to prcscrvcthat self
rcspect whii'h is nlvvnys necessary to thu iimiiagc
tiicut ofn public joiirnal.
One word to the deniocrncy ofthe state. They
will scc that tho prnini"o iiiailo in thu prospcctnso'f
tho A01: hasbceii kcpt,uud that llicy will luvc a
papcr contiiiiiing doublc thc reading tunttcrof 11 ny
polilical papcr iu tho state, a p.ipcr tliat in 11, e
chanicnl nptiearanco, is nnt uiivvnrlliy the dcu.o
cracy of tho .Mouulnin Stntc. J'hev can liavo
such'n p.ipcr jnt o long ns they wfsh and nn,
Inngcr. 7'huAni: cannnl beupu)rtcdbvn coin
111011 patronuge. It inust have inorc. It lns bccn
coiiiiiienceil iu thc vcry hcnrt nf the cuetny in tho
tuiiUt of their caiupnnd the opposition to it lia
bccti, aml will be, such 111 nn papcr lias evcr cu
coiintcrcd in llie state. That is iiothiug,howcver,
if thu democrntic pnrtygive it their unatiiinoua
support 7'he fcderal party circulatu in thc ttato
ten papcrs vvhcrc thu ilemocralic party circulata
ono. 7110 ilemocralic p-pcrs have no support
thcy starve This must not bc, it inust uot bc
Tho ilemocralic party must not c.vpcct that
yoiing nicn nro going into tho newspaper busincss,
ppnd thp lipst of llicir Iivcs iu hard labor, mako
slavcs, aml in ihcciid'bankriipts, of thcnnolves for
thc bciicfit of the piny. It is utter nonscnie to
think of it. A fevv of thc party support their paperi
but the grcat body of thc party are culpably
ncglcctful 011 this subject.
Tlir. SrmiT or the Aotis now iutho band
of the pcople. It mtut have their approbation
and tupport. If the tndersigned ihill be to for
tunate as to gain the ono and command tho other,
be pledges h'unself that no labor or eipcnie shall
be wnnting on hli part, tu carry ont what b env
plntbally tha spirit oftho ngo ritEEnoM or
Irsiiuinv, anij the Powku .or Titn 1'nopLr.

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