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AND SCTNKL.
A 1J GI'ST A .
J ~
FOR PRESIDENT,
WILLIAM HENRY HARRISON,
Os Ohio ;
The invincible Hero of Tippecanoe—the incor
ruptible statesman—the inflexible Republican—
the patriotic Fanner of Ohio. ,
for vice-president,
JOHN T V L ER ,
Os Virginia;
A State Rights Republican of the school of >9B—
—of Virginia’s noblest sons, and emphatically
one of America’s most sagacious, virtuous and
patriot statesmen.
for erectors of president and vice-president,
GEORGE R. GILMER, of Oglethorpe.
DUNCAN L. CLINCH, of Camden.
JOHN W. CAMPBELL, of Muscogee.]
JOEL CRAWFORD, of Hancock.
CHARLES DOUGHERTY, of Clark.
SE ATON GRANT LAND, of Baldwin.
ANDREW MILLER, of Cass.
WILLIAM EZZARD, of DeKifb.
C. B. STRONG, of Bibb.
JOHN WHITEHEAD, of Burke.
E. WIMBERLY, of Twiggs.
FOR CONGRESS,
WILLIAM C. DAWSON, of Greene.
R. W. HABERSHAM, of Habersham.
JULIUS C. ALFORD, of Troup.
EUGENICS A. NISBET, of Bibb.
LOTT WARREN, of Sumter.
THOMAS BUTLER KING, of Glynn.
ROGER L. GAMBLE, of Jefferson.
JAMES A. MERIWETHER, of Putnam.
THOMAS F. FOSTER, of Muscogee.
The Crisis of the Country.
In this day’s paper we complete the publication
of this valuable article, which wt commend to the
careful attention of every man of whatever class
in the country. Its length should not deter any
from a close and scrupulous investigation of its
wholesome truths, it addresses itself to all classes
of society, and presents in a brief and comprehen
sive manner, the effects of maladministration upon
the interests of the country, in such a style as to
render its maxims intelligible to the humblest com
prehension.
Mr. Forsyth in Georgia.
We are warranted in stating, on respectable au
thority, for it comes fiom a good, or seemingly good
Administration man, and one who, from his posi
tion, knows, that the leading Vanites in Georgia
have recently sent for and pressed Mr. Forsyth,
since the news of the great attempt of the people
at Macon, to come immediately toGeorgia, and use
all his political and personal influence to bolster up
the sinking prospects of ‘‘the destructives;” and
that Mr. Forsyth has consented to be used, and
will soon be among us for the puipcse. Let him
ucrae. The work is done —the Magician’s wand is
broken. It never has waved in triumph over
Georgia. Such a political move will only serve to
betray still further Van Buren’s weakness in Geor
gia. We had hoped, we had almost said we still
hope better things of Mr. Forsyth ; but if he will
remain “ joined to his idols,” the people of Georgia
will just as surely “ let him alone. ’ A little time
will show whether Mr. Forsyth has been persuad
ed on to lend himself to the importunities of the
Georgia destructives.
From the United States Gazette.
Definition and Illustration ofFederalism.
The Loco-foco papers think that the great mass
of the people are so ignorant that they can play
upon their prejudices hy calling the members of
the Whig pany “Federalists;” and after creating
a belief that the party of which Washington was
the head was made up of lories, monarchists, etc.,
they proceed to class all the opponents of Mr. Van
Buren with such politicians.
A Whig paper at the South enquires what is
the meaning of the word “Federalist.” as thus
applied ; whereupon the Savannah Georgian, a
Loco-foco paper, says:
•* We will answer the question, put as our cap
tion.
A Federali-t, now, is one who advocates any
measure tending to concentrate and consolidate
power in the General Government. He therefore
is a Federalist who advocates a National Bank,
a High Protective Tariff, creating a surplus in
the Treasury to be loaned to the favorites of the
Bank— Assumption of State Debts — lnfernal
Improvements by the General Government, and
all such measures savoring of a “strong concen
tration ol power” in the General Government, at
the expense of the Stales.”
We take the definition as it is given by one
who is violently active for Mr. Van Buren, and
is anxious to free his ow n party from the imputa
tion of Federalism.
The advocacy of consolidated power, we sup
pose, is not quite so bad as its exercise. Gener
al Jackson removed the deposites from the Uni
ted Slates Bank without a single particle of law
to sustain him ; nay, in order to arrive at such an
act of consolidated power, he was compelled to
remove an able secretary of the Treasury, and to
place in his stead a gentlemen who, whatever
may have been his attainments, never male | re
tensions to. nor was credited for, the kind of tal
ents and attainments suited to such a piece. He
took the office, removed the deposites, ar.d was
appointed Chief Justice ; and this, too, shorty
after the House of Representatives ot Congress
had, by a vote of mure than three to one, passed
a resolution against the act by declaring that the
deposites were safe in the United Elates Bank.
It that is not tne exercise of consolidated power,
w e do not know w hat may be thus denominated.
W e might instance, also the appointment to office
of men after confirmation had been refused by
the Senate.
A National Bank Bill was signed bv Wash
ington and Madison, and advocated by Dallas,
Rush, and a host of Democrats.
But a Fedeialist, says the Georgian, is one who
advocates a high protective tariff.
We copy from the proceedings of the Senate
of the United States, Tuesday, May 1?, 1828,
the following record of proceedings;
The Tariff Bill was read the third time, w hen
Mr. Hayne made a long and argumentative speech
in opposition to the bill, and concluded by moving
US indefinite postponement. Motion
20, navs 27. Mr. Webster replied to Mr. Hayne
and after so re remarks from Mr. Benton, the bill,
as amended, was passed by the following vote :
y EAS . Messrs. Barnard, Barton, Batemen,
BENTON, Bouligny, (’base, DICKERSON,
Eaton, Foote, Harrison, Hendricks, JOHNSON
of Kv., Kane, Knight, McLane. Marks, Noble,
Ridgely, Rouen. Ruggles, Sanford. Seymore,
Thomas, (r>VAN BUREN,ZT) Webster, and
Willy—2s.
Nats. —Berrien, Branch, Chambers, Chandler
Cobb, Ellis, Havne Johnston, ofLou.. King, Me-
Kimlv, Macon, Parris, Robbins, Sijsbee. Smith.
of Md„ Smith, ofS C. Tazewell,TY LER, M hue
Williams, Woodbury—2l.
So then, according to the definition of a highly
respectablc Van Buren paper, the Savannah
Georgian, Messrs. Van Burf.n and Johnson, the
Locofoco President and Vice President, and the
candidates of that party for re-election to the same
offices, are Federalists, and so also are Messrs.
Dickerson, Eaton, and Kane.
While on the contrary, by the same unexcep
tionable rule, the Hon. John Tyler, of I irginia,
the Whig candidate for the Vice Presidency, is a
Dkmocaiit.
Will our brother of the Georgian, whose
definition of Federalist we have copied, he kind
enough to give to his readers the benefit of our
illustration 1 It will go far to enforce his views
of the subject. But if the Georgian declines, and
the Savannah Republican has not had lime to
prepare something belter, perhaps its editor would
favor the people there with the “illustration.
Crisis ol the Country—Cont/nried.
How the credit system affected the attainment of our
independence.
The quarrel of the Revolution was in effect, and
in substance a quarrel about credit, commercial
credit, and the claims of royal prerogative. The
right of absolute sovereignty was asserted as a
credit account. This right, as to the manner in
which it operated, was denied and resisted. Hence
the war, and hence the result. The latter we re
gard as a blessing, and owe it to this quarrel about
credit.
But how could we have maintained that struggle,
or gone a single step in it, without a national cred
it ? A few feeble settlements, having always been
in a state of dependence, without money and great
ly in debt, without arms, and without troops, with
out ships of war, with no government even,except
a hasty provisional one set up for the exigency;
such a people pitted in conflict of arms against one
of the oldest, best provided, and most powerful
empires in the world ! But credit, that spring of
enterprise in peace, that soul and sinew ot war,
came to our aid. Funds, ships, armies, flew to our
relief. We issued bills of credit of our own ; and
a baseless paper currency for our domestic uses,
which answered all the purpose at the time, though
it proved to be good nothing afterwards. Per
haps it would be true to say, that we owe our In
dependence to the credit of that baseless Continen
tal paper. What could we have done witnout it
at such an hour ? It is true, it was never redeem
ed, but the people were redeemed, and bore with
patience this tax to their country’s deliverance.
They who paid a hundred dollars for a breakfast,
poor as they were, could point to a nation’s inde
pendence purchased by the sacrifice. In the en
joyment of the blessings of freedom, they soon for
got their losses. Credit was the charm, the potent
agency that carried them through. What could
have been done without it ? Dismay would have
covered every countenance in the outset, and the
world would have pronounced our fathers mad men.
But it was the generous faith of mankind, credit,
that saved us.
How the credit system enabled us to carry on the
last war with Great Britain.
We may, perhaps, say in gross, that that war
cost the nation $2U0,00U,000, if we include all sac
rifices, public and private, and left us i volved to
the amount of some $ 120,0 0,000, rnoi eor less. We
had nothing but debt to begin with; we sustained
the burden ; acquitted ourselves with honor ; and
in about twenty years after the peace, cancelled
the debt; all on the basis of credit. Without this
we could have done nothing; without this, a na
tion might now insult us with impunity.
How the credit system still affects the Government
of the United States,
It can obtain money whenever it wants, and to
any ameunt.
How the no credit system would affect the Govern
ment of the Untied Slates.
Itcoula not have issued its $5,000,000 of Treas
ury Notes, in the spring of this year, (IS-10) nor its
$10,000,000 of 1839. The wheels of government
would have been slopped. There would have been
a revolution succeeded by anarchy or seme new
state of things we know not what. A Govern
ment without credit, is no Government at all. It
is dissolved in the event. The event itself is the
instrument of i*s dissolution, and no other could be
formed, ex ept on the basis cf credit.
Can it indeed, be true, that a government seek
ing to abolish the credit system, is itself at the same
time asking and realizing all its advantages,by the
issue of its own paper, without a dollar of specie
to base it upon ? That it is issuing this piper by
millions, one year after another ? We know it is
good, but we ask for consistency, for the proofs of
sincerity. Or is this Government prepared to say
to the pe< pie, “ You shall not have credit, but we
will 5 ” Will they say it is good for public , na
tional purposes, but bad for private use ? But the
Government is compelled to use credit —bey ?
And may it not also be convenient to us, the peo
ple ?
How the credit system affects the British Empire.
For a quarter of a century, that Government
was able, by the mere force of her credit, to stand
against the most powerful combination for the de
struction of her manufactures, her trade, and the
throne it-elf, which was ever formed against any
nation, and was victor in the end. Still she holds
on her way,dotlin£ the face of the globe with her
colonies, absorbing old empires, and erecting new
ones, covering all seas with her navy and her
commerce, creating new worlds in this little world
of ours ; all on the basis of her credit. The sun
never sets upon her dominions, and her morning
drum keeps pace with each of the twenty-four hour-.
How the no credit system would affect the British
Empire.
It could not exist a day, but would fall to disso
lution in ten thousand fragments, presenting a
scone of social devastation, such as the world nev
er saw.
How the attempt to introduce the new credit sys
tem has forced the Government to resort to
credit.
Nothing but kad government can keep the Amer
ican people down. If they are not up soon after
the revulsion ol over-action, ii is only because the
government will not let them get up ; if they are
not going ahead, it is only because the government
has knocked them on the head. Tne no credit
system will not only destroy a government, but it
will destroy a people. Carried out, it is the’ disso
lution of society. This is its true definition, as
well as its effect. An attempt to introduce’ it
therefore, irotn the highest department of society’
from the government, is just knocking the people
on the head. They can’t stand it. It is govern
ing t o much. It is destroying faith, moralitv, the
bond of the social stale.
Just let the people know that this is what the
government are about, and that is enough. Thev
feel the blow, and reel under it. The body politic
shakes, trembles, and quivers through all its parts
to its extremities. Men are frightened; confi
dence takes flight; rumor with her thousand
tongues stalks abroad; and society presents a
scene of confusion, with disaster following quick
upon the heel of disaster.
When a government, instead of endeavoring to
repair and reinvigoratc a shaken credit, strikes an
other and more tremendous blow, by telling the
people,Since you will abuse credit, you shan’t
have it,” it is like a bolt from Heaven that shivers
the oak. It is punishing the whole nation for the
sins of a few. It is like the quack, who, lighting
upon a community visited by an epidemic disease,
not only kills the sick by his want of skill, but
forc es down the throat of every well man, woman
and child, a drug which kills them all, under pre
tence that it is to save themfiom the contagion.
No wondei such a inode of treatment reacts up
on the government, and they find themselves in a
lew short months, fallen liom a surplus to a defi
c iont and rapidly tailing revenue. No wonderthey
are compelled to resort to credit to save themselves,
I as they have destroyed credit in the ranks of the
people by tbc threat of doing it. A country thus
injured, is so far impoverished.
H< tr the State debts are affected bp this alarm occa
sioned by the action of the government.
Take for example the debt of the State of Penn
sylvania, which is $36,000,000. Before the shock
occasioned by the government attempt to abolish
credit was felt, the bonds of the Commonwealth of
Pennsylvania were worth in the market ol the
world* $ 113 on every SIOO. The last sales were
c jlb on the par value of SIOO, since which there
has been no demand. Suppose, however, that the
bonds of Pennsylvania are now [June 1, 1540,J
worth $75 on SIOO. They cannoi<be,iVvoifUM noie
than this. It wM f Alow, that the entire depreca
tion from 113 per cent to 7-3 per cent, oq a debt of
$36,000,000, is $13,680,000! Is not this a truly
amazing effect! 5 Is it not a mortifying position to
a sovereign Commonwealth, to be obliged to ob
serve such a falling off in her own f air fame?
Mow the Independent Treasury is a Government
Bank, atid how a Government Bank differs from
a National Bank.
The Independent Treasury is a bank of deposite
for the revenue of the country —that is certain. —
No one will deny this. If i be called a place of
deposit, the change of name does not alter the
thing. The only question is. whether it is a bank
in the proper sense of the term. \\ hat, then, is a
bank? Is the privilege and office of discount es
sential to a bank? No one will pretend it is.
What, then, remains as essential to the proper char
acter of such an institution? Simply and manifest
ly, the two faculties of deposite and issue, both of
which belong to the Independent Treasury, and are
essential elements of the bill ot organization.
The Treasurer of the United States is empowered
by this bill to issue drafts on the several branches
or places of deposite, at his discretion, without any
restriction as to amount or form. Here, then, is a
bank —a bank of deposite, and a bank of issue—
all that is essential to a bank. Moreover, these
drafts will be an actual currency, so long as they
are out; a currency that will be preferred to all
others, and pass at a premium.
It remains to observe how this Independent
Treasury is aGovernment Bank in distinction from
a National Bank. It is under the control of a di
rectorship responsible to the legislative branch of
the Government; whereas, in the case of the In
dependent Treasuiy, it is to be under the sovereign
control and directorship of the President of the U.
States, in which capacity he is virtually invested,
by the bill of organization, with the three several
powers of President, sole Director and Cashier of
the institution, all which he can use at pleasure by
proxy, or otherwise! Is not this a Government
Bank with a witness?
Mow the Constitutional prerogative of the respec
tive States to control their own monetary capital
may be, and is likely to be, usurped by this Go
vernment Ban!:.
It is true, that the right of the States to chartci
barks, if they choose so to do, will remain. But
of what use is the right, so long as this govern
ment Bank has control over the specie of the coun
try, and is able to draw all great monetary transac
tions within the circle of its influence? Whenever
this institution shall choose to exert its powers, in
these particulars, to the full extent of its possible
sway, the constitutional control of the States over
their own monetary capital will exist only in
name. All that power will he wrested from their
hands. We need not say that the sovreignty of a
State will not be worth a penny, when ihis vital
clement of her political existence is taken away.
What is a political body without the control of a
monetary capita 1 ? A mere cypher.
How the operation of this Government Bank wil
work a revolution in a ruinous depreciation of
the prices of property and labor.
It is an uncontroverted maxim, that the prices
of property and labor are graduated by the amount
of the circulating medium. It is also obvious that
the scheme of the Independent Treasury is to re
duce and confine the currency of the country to
hard money; and this is likely to be the effect of
its full operation. “Study,” says Mr. Benton, of
the United States Senate, “the financial history of
Holland, Prance, Cuba. Follow their example.—
Imitate them,” This is known to be the doelri e
of our National Administration.
The average prices of labor in some few hard
money countries arc as follows:^In France, 5
shillings and S pence sterling per week. Hours of
labor 12 in the day, or 72 for the week. In Switz
erland, 4 shillings and 5 pence per week. Time of
work 82 hours. In Austria, 4 shillings per week.
Hours 76. In Tyrol, 3 shillings and 9 pence per
week. Hours 88. In Saxony, 3 shillings and 6
pence per week. Hours 72. In Boon, on the
Rhine, 2 shillings and 6 pence per week. Hours
84. In Egypt, 3to 34 pence per day. The ave
rage price for the above named European coun
tries is 3 shillings and 11 pence and 3 farthings per
week; ami the average number of hours 79. This
average price of labor per week, amounts tt about
97 cen'sof our currency.
In England the prices of labor per week, range
from 15 shillings sterling, (or $3 63,) to 30 shil
lings, (or $7 26 cents.) Average, $5 43 cents. In
the United States the juices of labor have here
tofore ranged from $3 to $6 jx>r week. Aveiage,
$4 50 cents.
This comparison will show the difference be
tween the prices of labor in hard money countries
and mixed currency countries. Great Britain and
the United States arc known to have been the
most prosperous countries in the world. Tue cause
is to be found in the high prices of property and la
bor. It may be laid down as a maxim of universal
truth, that the highest state of prosperity in any
country, is that condition of things which main
tains as a pe> inanency the highest prices of proper
ty and labor; more especially of labor; and that
the stale most remote from prosperity, is that
which reduces the prices of propertv and labor to
the lowest point. In all the world and in all ages
this will be found true, other things being equal.
The lowest prices of property and labor "will be
found under absolute and dcpotic governments.and
in a slate of barbarism, where also will be found
the greatest poverty, and most miserv.
It is not sufficient to say, that the depression of
these nominal prices does not depress prospciitv,
when other things are equal, because other things
are never equal, as we shall see in what follow’s’!’
Let u-i, then, proceed to consider how the opera
tion of this Government Bank scheme will affect
the property and labor of the country. The amount
of n sound mixed currency of a country is at least
three dohais to one ol a hard money currency.
This is the smallest difference, w’hich wc are en
titled to assume as giving the greatest advantage
to our opponents. By this rule the following cal
culali ns aie made for the purposes of illustration
the print iple of which be accommodated to
?ny supposable or actual state of things. It will
be seen that the standard we assume is perfectly
immaterial to the argument. In the a-sumption
of any other, to suit parties-or persons, thegrand
result would be the same for all our jiurposes.
Consequently, by the principle laid down which
will not be controverted, viz; that the amount of
currency graduates the prices of property and la
bor, it will follow, that the introduction and full
operation of the governmenment bank system will
reduce the prices of property and tabbr at least
two-thirds. How much the reduction will exceed
this fraction may be guessed at by a review of the
compaiative prices of labor in different countries
given above. 5
Let us, then, estimate the amazingchano-e. The
working man who, under the od system, received
his dollar a day for wages, would find them redu
ced to 33 cents under the new. The dollar and a
hall per day of the journeyman carpenter, mason
tailor jew’eller, cabinetmaker, printer, bookbinder.’
and of numerous other irades which it would fill
a page to mention, would be reduced to fifty cents.
10 lx P ence °f the milkman who makes his daily
round through the streets of our cities, would be
irn U m d M to lWo ‘P cnce - In the same proportion
would the market people suffer who supply the
i^countrv Ul ‘ bT dticS from lh « su“cfund
won! n tx Kee ’ instea( l of nine cents a pound
would be three; potatoes would fall from thirty
twentV five a b i :,Si * eii COin from to
tion ‘n i ’ w i an< l dour in the same j*ropor
bread s mrf °d “!, kinds of ">••!«. kind* of
dcC s?f' a i al k,Dd a S ,° f v n*UW«. The sad
r"c6 "dr°TL d r" - $6, and the
old system couli lat up Ism" " h ° t !‘ e
new could lay up onl, If™ under .he
or $25
*ISOO under ,he o]d. wou’S, rwrthll 'sMU
under the new. In the simp 011,1 on v
same proportion will every F T l !* e
indeed, except the salary of the President of the
United States,pnd those of the officers and agents j
of Government, amounting perhaps to fifteen thou- 1
sand ; all of which would be raised in value In
proportion to the increased value of money, be it t
more or less. They say two-thirds. Gs course, «
the President’s salary would be worth $75,000, and 1
those of othci officers and agents of the govern- 1
ment iu proportion to their nominal amount. |
But debtors, who probably constituted nine- i
tenths of the population, would be the greatest
sufferers of a!i, inasmuch as they would not only
equally suffer is the depression of their property,
.if they have any, but in the same proportion for
•all that they owe. In many cases a debtor who
was actually rich under the old system, may be
reduced to nothing by the substitution of the new. 1
Nay, lie w.'ll be as much, worse than nothing, as
his debts exceed one-third of his property. For 1
example: —if a man's property was worth $60,( 00 1
and his debts were $30,000, he will be SIO,OOO 1
worse than nothing by the change. A farmer pos
sessed of an estate worth $',500, and being in
debt $750, would find himself $250 worse than
nothing ly the change. A farmer who could pay
a debt of S3OO with three hundred bushels of wheat
under the old system, must part with 900 bushels
to pay it under the new, besides sacrificing two-
Ihirds of the former value of his farm, if he is ob
liged or wishes to sell it. In the same two-fold
proportion would all debtors, having property, suf
fer by the change.
It has been said bj’ high authority—with how
much truth we know not —that the aggregate of
private debts in every commercial country like
ours, is ordinalily equal to all the property of that
country ; in which case as will be seen, such a re
volution as will necessary be brought about by
reducing the circulating medium of this country to
a hard money level, would increase this indebted
ness of individuals to three times the value of all
the property to be found in the whole country !
Taking the assessment list of the state of New-
York as a standard of the valuation of its property
—which, as is well known in all such cases, is
much below the true value—and adding to that her
public works and other species of projierty not tax
ed, all of which must suffer alike in the general
wreck of this revolution—and it would probably be
a moderate estimate to rate her losses in passing
from the old to the hard money system, on the
principle established, at $500,000,000. For our
present purpose it may be sufficiently accurate to
assume that all our States and Territories would
suff-r in the same proportion to New York, as is
the proportion of their respective representations in
the House of Representatives in Congress —which
would sho w an aggregate loss to the whole United
States of $i ; 500,000,000!
Besides all this, by withdrawing the circulating
medium, we withdraw two thirds of the active cap
ital of thecountiy, or which is the same thing,
two-thirds of the means of public prosperity. The
productiveness of this capital by the application
of skill and labor would be twice as much to the
nation as the prosperity based up m the one-third
retained. Yes, much more than that, on the prin
ciple, that every increase of capital augments the
powerol acquiiing wealth in a manifold propor
tion. We might probably say with truth, that the
failure of fifty banks a year in the United States,
of a half million of capital each, all falling on the
jicople, would not be so great a loss to the nation.
It is to be observed, that a dollar under a sound
mixed currency, is as good as a dollar under an ex
clusive metallic currency, so far as it respects pub
lic faith, because it will always procure hard mo
ney. A dollar is a dollar in America, in Europe,
in Africa, in Asia, every where, at all limes. Tho’
it may not procure as much of the necessaries of
ife under a mixed as under a hard money curren
cy, it counts as much as an acquisition or invest
ment; and a dollar under the former system is
worth just as much in our relations to all the world
as a dollar under the laitcr. Consequently, in our
social, commercial, and political standing with ail
the world, we should be worth three times, as
much, ahd have three times the strength under the
former system, which we should have under the
latter. Besides wc should be able, and on that
system, alone able, to maintain our rivalship with
Great Britain, and ourrclative standing with other
nations.
There, too. is our foreign debt of some $200,-
000,000,standing against some of our States and
against individuals, and in that way against the
country, which by the principle already recogni
zed, would rise to $500,000,000, under the new
system, not nominally, indeed, but really, without
a fraction of that abatement which is ascribed to
( our domestic condition under such a change. The
| true reckoning would be on the other side. For it
must all be paid in specie. It would even be more
i difficult to pay $200,000,000 after this change,
than $600,000,000 before it had begun.
All the gain ofsuch a new state of things would
be to the rich, and all the loss to poor. The latter
; would still have to pay the same for their tea, cof
fee, sugar, clothes, and all foreign productions,//"
they could ever get money enough to have either.
But this if makes a very doubtful case. It is
the doom of the poor in all hard money couutiies
to remain forever poor, with scarcely the means
of subsisti nee. So would it be with us. They
would be ground to the dust.
“ America,” said a distinguished foreign states
man, “ is {was, we must say now,) the heavenof
the poor man.” An 1 why ? Because,first, of the
exceeding facility of getting enough to live on ;
next, because of the numerous and great facilities
I for getting rich. But introduce this new state of
( things, and it will be comparatively a hell to him.
We are not aware, that there is any ground for
the charge of fallacy, or of error, in the calcula
tions we have made, or in the results to which they
have conducted us. Is it not, then high time for
tae people of this country to look this tremendous
reckoning in the lace ?
How this experiment will affect our relations to
Great Britain and other nations.
First, our political power will be diminished in
the same proportion with our wealth and prosperi
ty. Either one of these is ordinarily a fair meas
ure for the other. Great Britain would go on with
her giant strides on the credit system, augmenting
her relative power and ascendency over us, just
as the man of great capital can outstip in business
and overshadow in greatness his poorer neighbour
just as Stephen Girard, of Philadelphia, was more
poweiful as a merchant and banker, than anv other
single man of the same city. Cn the credit sys
tem, we have proved a match for Great Britain ;
without it, all our competition in commerce and
political importance, hitherto so well sustained,
would dwindle into insignificance. We should first
bo despised for our folly, and next, peradventure
insulted, with all the disadvantage of such a con
dition to cope with. The great bulk of the com
merce of the world would fall at once into the arms
and its profits into the lap, of our great rival. i)nr
political and commercial relations with all other
nations, would suffer in the same propoition. All
this would fall back upon our domestic condition
with a tremendously paralysing and blasting influ
ence.
How the new theories and new experiments of Gov
ernment are dangerous to our institutions.
If they enter into the vitals of society, affecting
its who’e body from the heait to the extremities,
forcing the intire machinery to act on a new prin
ciple, like the scheme of the Government Bank and
its comprehensive policy, it is a revolution. It was
the intention of the framers of our Government, it
is the intention of the democracy of Hits country
that this government and these institutions should
he, maintained not overthrown.— No more theories
No more experiments. No moie deviations from
the advice of experience. We know what is good
Wedon t want that which is uncertain. In our
present state and prospects, the probable result of
this rashness arc fearful to contemplate.
How to know the true democracy
Fortunately the true doctrine of American de
mocracy has obtained such a place in the public
mind that it cannot be easily dislodged, or cheated
out ot its claims. Every freeman has it stereo
typed in his brain. It is this: Don't govern us too
mwi Another version qf the same sentiment is
Let the people alone. They may make mistake*
nuckF rT Ui the Cnd C ° mc right of th emselves’
qmckm than any government can set them right!
ndeed, anv attempts of government to rectify the
transient evils, which re ,S lt from , h
7" on,J -*** fre ” d " m
SSSssr^ai-ara'is
ties H Very des t™ctio n of our liber
der t conlide^ai C inn’’ fc^ the thin S s w « have had un
fundamental principle of*fife *’ that . this g reat an d
been and is bv rk? 0 ? emOC ? Cy
utes of our ”T
turning to that princinle The IS n rc ”
of this land should be heard, Scotwto
Texas, in one loud long [note of determined pur
pose : Don’t govern 100 much. Let the people a
lone. Ifwe get into difficulty, we’ll get out again.
It is the violation of this vital principle of de
mocracy, it is this concentration of influence in the
national Executive, this g. a iual encroachmcn o
the principle of consolidation, this federal giasp
that clutches all flings itcanlay its hands upon, to
perpetuate powtiLn the same set of men yes, it
is this that has leltto all our difficulties.
How the abolition qf credit is the abolition of mor
ality.
Define credit as wc will, wc cannot disjoin it
from public morality. It is always the exact meas
ure of he soundness of the social state. W hat
could be more preposterous then, what more shock
ing, than for a Christian Governmental- any Gov
ernment whatever to undertake the abo'ition of
credit? Is it possible that there should be too
much, a “ redundancy,” of public morality ? It
has certainly received a shock in the recent disas
ters of th° country, and urgently demands the heal
ing, restoring agency of a parental Government.
Yet they seem to have set themselves to eject it
from the body politic, as if it were a foul demon.
How the Government governs too much.
They govern too much, in presuming that, if the
people think they can better their condition or pro
mote their happiness by planting mulberry trees,or
trading in city Jots, or projecting a new town in
in the woods, or shipping wanning pans to the
West Indies, or ice to Calcutta or New South
Wales, or sailing in a balloon, they will not claim
leave to try; and if they fail, that they will not
assert the right of trying something else according
to their best discretion. They govern too mu- hin
presuming that the people will allow their private
enterprises to be interfered with, or their private
affairs to be superintended by Government regula
tions and policy. They govert too much, in pre
suming that the evils of indiscretion in the man
agement of private affairs can be better remedied
by the action of Government, than by the experi
ence of the parties concerned. They govern too
much, in presuming to call the private enterprises
of our citizens “wild speculation,” “fraudulent
credit,” “gambling,” “swindling,” &c. &tc., and
then proceed to punish these arts as vices and
crimes, without trial, themselves being the accu
sers, judges and executioners. They govern too
much, in punishing the innocent wiMi the guilty —
a nation of innocents for a few offenders—and in
doing the whole by an ex post facto law of their
own devising.
It may be, that many of our citizens have made
too free witn their freedom. This is the natural
operation of our free institutions. Hut they were
for the most part honest; they make haste to get
rich; they have suffered for it; and now what do
they get from the Government of their country?—
Sympathy, kindness, help, protection? No such
thing. But they are visited in vengeance, arraign
ed as criminals, sentenced without trial, put to the
torture without mercy; and here we are, all in the
same mass; all dragged to the same doom, whipped
and scourged as if wc were a nation of malefac
tors!
What right have our Government, either local’
the private enterprises of our citizens vices am
crimes, or to punish them as such by ex poM fact
enactments? If a Russian or Turkish despot ha
committed an equal outrage on his abject slaves,!
would rouse the sympathy and indignation of th
world. ‘Speculation,’ ‘fraud,’ ‘gambling,’‘swin
dling.’ These arc the charges —charges brought by
the Government against a free people! And the
the people are punished—all, the innocent with th
guilty, without opportunity of defence, and by a
arbitary law which had no existence before! Ob
viously’, we are governed to much. The best g<
vernment is that whi> h is neither seer, or felt b
the good citizen. That is true American demo
ciacy.
A hari case.
There are the State debts, incurred from the no
blest motives, by the most unquestionable aims *
patriotism and state pride, under prospects not onl
justifiable in the light of all the prudence and saga
city of the wisest men of the time, but high!
praiseworthy in the circumstances of Hie seven
cases. But the infatuated policy, usurped power
and tyrannical measures of our national admini
tration have brought about domestic troubles of
most disastrous and ruinous character, and so a!
fected our credit abroad, as to place all the Stat
thus involved in a most uncomfortable, anxiou
and truly calamitous condition. And how doi
our national government treat these States as
compensation for the responsibility of measure
that have led to such consequences? Do they sa
to the creditors abroad and elsewhere, that thej
debts are good and safe? Do they volunteer ai
sort of ficility to aid these suffer ng membeis (
the Union in their embarrassed circumstacces?-
Do they even let them alone, and permit them t
do the best they can on the basis of their own cr< •
dit? Alas to say, they have not solar resptctc |
the dignity of their high estate, but have descends I
uncalled, unprovoked to the level of thernalicioi *
slanderer of his neighbor’s reputation, and whi- >
pered a-ide in the ears of the creditors of tlies
States —“Gentlemen, wc advise you to have
care, and look your own interests. Were w
solicited, we should not deem it prudent to unde
write for these parties indebted to you.” Nay
not exactly this: 'tis something worse. Or it
not this alone, ’fis something in addition, and •
graver moment. They have appeared before tl
world; they have volunteered their evidence i
open court; they have gone upon the floor of tl
American Senate; they have indirectly, at no hi.
ding but their own will, announced and proclaim*
from that high place, the fact of insolvency in tl.
condition of these States, or what might well be s
accepted as such by the parlies most interested 1
know! Instead of the sympathy of fraternal si
licitude, and an office of kindness in the hour mo
needed, ihere were the whisperings, and there we,
the public acts of an enemy! Was ever infidelity
treachery, like this, from a party thus rclated?-
Does history record such an example of basenes
first to entrap, then to smite? In the vulgar waff
of vulgar men, such things have been know n; hi
they are always stamped with the infamy the
deserve, where the parties are of sufficient cons*
quence to be made infamous.
No matter whence these calamities come; r j
matter if the administration of our common <oui '
try could acquit themselves of this responsibility ;
and charge the fault at others’ doors ; no matter , r
these suffering States had themselves 1 cen tempt*
into indiscretions ; yet. there is a fraternal charm
ter, a sacredness in the’bond of our Federal Unio:
there is a patriotism implied in the compact, ai
natural to the case and its relations ; there is a n
spect which the States owe to each other, and tl,
notion to the States, before the world; there is
tie that binds us to fight and die for our commo
honour, even though we quarrel among ourselve* j
and above all is there a parental character looke I
for in the supreme authoiities of this KcpubJi
whenever the interests of any of the great famil
of federated States arc in jeopardy, or their so i
standing is drawn in question. To be w ounded b
a brother’s hand, is cruel; to be assaulted by'
parent’s is lohave lived 100 long!
Cut enough— too much of this. We mean, th
fact is. too much. If we had nM a worthy, patriot!
aim in view’, demanding, at least, making som«
justification of this notice, the blushjof shame whie!
suffuses our check in the execution of this task
should die away unseen, and the blood which boi
in our viens at these recollections, should fall bad
to its wonted coolness, and leave these bunun
thoughts unrecorded. But these unnatural wrongs
done to such parties from such a quarter, and the
sufferings of our common country, so vas’t and un
deniable, and inflicted by the same hands, call for
redress. Thank Heaven that redress, at least re
lief, is yet in the power of the Amur can pcop’e
They have suffered much, long, patiently nobly*
because they respect themselves, and know their
strength and their remedy’.
How wc have fallen.
In a time of profound peace—a little Indian wa.
excepted—when the nation was in a career of un
paralleled prosperity ; when the public treasury
was overflowing, and the Government embarrassed
or.ly to find ways to dispose of this surplus rove
nue ; when property and labor commanded the
highest prices, and no one wanted employment®
when internal improvements cn the grandest" ra e
were advancing with unheard of rapidity ; when
agriculture, manufactures, commerce, and the va
rious trades yielded their gicatest n of.t ,11
branches of business flourfshed ; whef the ieJ
“At: '' w""l” f °“ nd a r - a( U' market*when
cities it K VaS Pcop'einjr, ami .owns and
cities rising on its bosom, as if bv enchantment •
was un shaken, and afforded the nced
lu faculties to trade; when the currency of the
fhi . answcred Tl,e most desirable o. !
his vita l agent of civilization; and when all na
ture conspired to sustain and augment our pros
perity ;—at such a time, and in suchcrrcutn t T ,
of national pride and expectation, by sundry 1 !* 5
palions of Government, and governing ton
credit was suddenly and Ur | 1 >
business of all kinds, except that of attorned'
sheriffs, was brought to a dead stand - iff* and
went begging for bread, or starved f or the w
it; a great portion of the community was
to a state of bankruptcy, and all to non-pa vm
no man could tell what he was worth- 'a h
Government itself was compelled to issue ! " t,IC
Notes —a paper based solely on credit— to r ' (
current expense* ! ! Millions of the public
were lost, and lost forever, by this
the fiscal transactions of the nation. ° n ln
How the grievances we now suffer compare
those complained of in the Declaration of S h
pendence. ln^e '
Let the freemen of these United States tal*
Declaration of Independence in hand, and read lu**
specification of grievances recorded there • let th
weigh well the oppressions and cruel dearth 11
which bowed down the spirits of our father m
they could bear it no longer: and then let th* 111
decide and pronounce, on their own convictio ' em
view of that record and of the grievances wh’*?
are now ciushing the spirits of this great natio n
(hanging excepted, for modern tyranny is mnr»
direct and refined,) let them decide, we S;iv y* M
this exception, if they can find half ttaffiw f
grievances, half the instances of despotic and °[
sway, half the wan: of sympathy with the mi-.-
of a suffering people, half the pressure of corner 8
caied and overwnelmiug calamity, or half the
Rated rum, which are to be found in the histoi f
the last few years of this country, in out\ )y J ° f
condition, in our presei t prospect*., unde. r.,, * ent
Government ! Our father., vragk u. e «,?! '
fought the battles of the Revolution fui princid,
because the crown claimed to tax tea & c \
we have not only principles to contend against w
their fatal, tremendous results / Then our Gth
strove to prevent what might come. y ow T
task imposed uoon us, is to rid ourselves of tl
evils that have already fallen on our heads
It can’t be worse.
Manifestly the country cannot be worse b *
change of Administration. But a
It must be better.
First, because there is no getting away from
fact, that our Government have brought lln
most of the evils we feel. A change of policy and
measures is indispensable to our delivcianr.
Next, because a new administration will fed fi
necessity of granting relief. Those now in now.
cannot and will not doit, because they will n I
change. Thirdly, because the new administration
as we have ground to expect, will be a very aS
one. h ourtnly, because they well know their fat.
uefore the nation, will depend on the good thev
shall do in meeting the great exigencies o th.
times. They must relieve the nation, or forfeit if,
favor. There is no other alternative. They have i
maintained that the cause of om distress is bad I
government. I hey must, therefore, prove it hi ft
removing the distress. Fifthly, there i*rottenness I
in Denmark, and it is necessary to get it out V ft
long lea*c of power to one class of men tempts to
j corruption, and they must be more than human no’
to yield to it. A change is necessary to expose
these corruplions, and bring the causes of our trou
bles to light. Sixthly, a change is necessary to
maintain our happy form of Government audits
free institution*. The two great paities of.this
country will always remain nearly equal, to watch
each other, and every few years there must be a
change. This is essential to the-'preservation of
our liberties. If power stays always in the hands
of one parly, the leaders would ruin us. This ac
counts for the fad, that wc are nearly ruined now.
It is because the leaders have been cneroarhin- r on
the liberties of the people, to perpetuate their now
er. As a nation, we arc now on the brink of a
precipice. One step farther in the same direction
may plunge us from a giddy height, into an abyss
where we may wail our fall without the hope of
relief. 1
ONE PRESIDENTIAL TERM, NOW A y D FOREVER.
Astatesman of the profoundest political sagaci
ty , uncommitted to any’ party’ in our country, whose
authority is therefore entitled to the greater weight
has said ; “ When the head of the state can bere
elerted, the evils rise to a great height, and com
promise the existence of the country. Places be
come the reward of service rendeieJ, not to the
nation but to the chief. A State may survive a *
host of bad laws. But the law which nurtures the
giowtn of the canker within, must prove fxtu 4
IN THE END.”
i he present Chief .Magistrate of this country,as
one of a committee of the Senate of the United
States, in ifi -fi, said ; “ Ti e President of the Uni
ted States makes and unmakes tiiosc woo adminis
ter the system [of lus government ] . . . Ilis
spirit will animate their actions in all the elections
to Stale and federal offices. Wc mu*t, then.look
forward when the public revenue will be doubled.
[Or when we shall have a Government flank—a
thing never dreamt of so long ago.l . . . The
President wants my vote, and I want his patron
age. Iwi'l vote as he wishes, and he will give
me the office 1 wish for. \\ hat is this but thegov
crnmeqt oi one man ? And what is the oyvem- j
ment of one man but a monarchy ? INames are
notning; but the nature of a thing is in its sub
staine. Low prophetic of the very position in
which we now are—in which that very man is!
“ ls , th - v servant a dog, that lie >hould do this ?”
Gibbon says : “In whatever state an individu
al unites in lus person the execution of the laws,
the command o t the army, and the management
of th►, revenue, that stule may be termeda mos- j
ARCHV.”
But we have before us the proposal of one pres
idential term, to res* uc us from these imminent
perils. God speed the issue, and the Republic
will be saved. We .-hall have no more spending
the whole oi the first Presidcntia 1 term to stcuic a
succession to the second.
AWAY WITH PARTY.
es, in such a time, away ’.vith party, and go ju
for the country, for freedom, tor the constitution, |
lor the laws, for deliverance, for prosperity. He
who talks ol party now, who can bo biibea by its
promises, or intimidated by its thieats, who can bt
swayed by any less holy sentiments than patriotism
and sympathy with the distressed, is a traitorlo
his country, and lecreant to the love of his spe
cies.
THE MAN OF THE PEOPLE.
We have before us a man whom the spiiit of
party has never tainted: a man worthy of our
confidence in this great endeavor to redeem the na
tion ; a man who has fought the b titles, and culti
vated the soil of his country; who has assisted in
making her laws, and presided over their execution;
a man who has dignified station, and honored the
walks of private Jiie; who has shown himself the ft
worthy companion of the great, and the poorman’s
Iriend; who has never fla tered the pretensions of
tiie lofty’, nor frowned on the timidity of ibe hum
ble ; a man whose virtues have ever secured him
the approbation of the good, and exposed him to
the maledictions of the vile ; who is too modest to
proclaim his meiits, and too geneious to avcnz e
las wrongs; who relinquished ilic sword for the
plough, and the pomp and parade of office for h |C
occupations of the citizen ; a man whose symp**
thy has ever been with the people, whose a-pir a '
lions have ever been for their welfare, and who
has enthroned their happiness and prosperity,
household gods at his hearth. This man is B in
iam Henry Harrison, the Cincinnati's of |b e
West, now called by the voice of liis fellow-c. ti
zens, to preside over the destinies of this Repub
lic.
Movement of Troops.
The St. Louis Republican of the ISth say ß
that the Sth Regiment, Col. North, now station
ed at Jefferson Barracks, below that city, have
received orders to repair immediately to Prariedfl
Chien. The cause of tais sudden movement, it is
said, grows out of the conductof the Wmnebag o i
Indians. A short time ago they were removed
by Gen. Atkinson, to the west side of the MW B ***
sippi. Since the troops left they have all return
ed to their former lands, and refuse to return
hack to the lands assigned them. It is quite p r0 ‘
bable that some difficulty may yet grow out of
the unwillingness of some ol the Chiels to mi
grate.
The Republican adds:—The Sth was ordetri
to Jefferson Barracks to recruit before going h’
Florida. We understand that a large nutter
ol them are on 'the sick list. They have had
but little time lex recover from the fatigues they
have lately undergone in the. icuioving
these Baser* Indians.