Elizabeth-Town gazette. [volume] (Elizabeth-Town, N.J.) 1818-1821, 1819-07-27

will do very nell. No demand for cotton,
tobacco and bread stuffs abroad, except
al such prices as we cannot afford to raise
them at, in the present manners of the
times. We have full view OF these man.
ners ia the conduct of the bank OF the
United Subsequently, using its vast
tpower, through The government deposits,
on the pretext Of being compelled to pay
about S2,50O,0o0 on the Louisiana loan,
to PROSTATE, not only the whole body of
lspeculators in its own stock, but needlesslg
10 embarrass the good state banks, forbid
lding them to accommodate their old and
Irregular customers. say neea!ess!y,"
because this bank is now i'm the act OF
depending almost as much money in use-
less heaps OF brick and stone, except the
account OF the employment which its dis
Ibursement affords. This is just like a
man who has moi market money enough,
and yet gives dollar to see play. We
have heretofore said that fashion, or pride,
wastes more than convenience wants. We
are now about TO pay for the s. whistle"
A season Of unparalleled distress is ar
irving the horst will soon be upon us,
and then--things will mend. What ought
1.-THE people TO do for future safety?
Spectators have had their day, and the
end is exactly what We long ago predict.
eti--such as every rejecting man saw it
would be. Now is the time that honest
men should combine, to force and sustain
a most wholesome pnrgation. The war
of rags against property has had its turn,
or is now raging, and will yet rage Sc
verely. 1t must have its course--there
is no help for it, and any of its consum-
nation will only increase the difficulties
heaped upon us, through our own foolish
acts or the sufferance Of folly in others.
Any relief afforded by the issue Of a new
kind Of paper money, will only tempt
new speculations, and raise up new race
of gamesters, to inflict new caiamities
and perish like their predecessors. | am
aware that OH account Of this sentiment,
as well as for others which have lately
advanced, there are some who may think
me cold to the miseries OF my fellow citi-
Zens. Heaven knows ] am not-though
many persons have failed aud will become
bankrupts, for whom, as individuals, |
have no sort Of commisseration, because
they would have monopolzed every thing,
and did unjastly prey upon PRODUCTIVE
lINDDsTRY, there are others SO situated
With whom / would freely divide my last
loaf of bread, because they are only un-
fortunate :; and will literally divide that
loaf rather than by any kind of quackery,
levy double tax upon my future subsist.
Ience. What do we think of person who
accidentally or through carelessness, get
ltiDg half-drunk, renders himself wholly
Iso, TO relieve himself of the disgrace and
misery belonging TO haIfdrunken condi-
ton? Yet this is exactly the policy
which many interested persons would
persuade us to, by urging suspension Of
specie payments by the banks, or in is
suing ne,v paper medium. l suffer 10
common with othefs--neariy the most de-
IiightfuI hope that ever entertained, and
which it was fully believed would have
been realized, has been blasted by wind
ing up Of the paper system-but industry
aud perseverance may yet accomplish it,
aud will not grant any thing TO despair.
Let every one hold to such resolutions.
supporting them by economy, and we shall
yet acquire solid, honest independence.
The trial is hard one; but the just must
suffer with the unjust--it is even so that
the tempest descends from above.
i 1t is freely admitted, that the banks,
, en- n,asse, cannot pay their debts; but
there are enough who can pay them, to
afford us a criterion Of value that will not
deceive us. Others, whose discounts
J have been monopolized by their presi-
dents, directors, and cashiers, and hall
; dozens of favorites, will 60 by the board
/ aud they ought to go. The first should
, be protected, and the latter destroyed.
The people can do much in respect to
either; and though the business of banks
lis so much a secret to the public, there are
r certain indications which may lead to
, ItolerabIy correct conclusions. When We
know that bank is accustomed to loan
small sums of money, in preference, to
! productive men--when we see that the
| president, directors aud cashier live
plainly, like common citizens, not binding
; us with the dust of their carriage wheels
nor astounding us with the cost Of theil
houses, furniture and plate, &c. unless
+ they are known to be men Of real wealth
, acquired by known means--we may
, generally conclude that such bank. IL
; times like these, is as public blessing
J and we should rally round it--regardius
it as test whereby the worth Of labo
, and property is TO be ascertained. W.
/ should give its notes all the currency il
, our power, "keep them out" as tn
nhrasa il az LONG as nnssihle. and froWl