Edwardsville spectator. [volume] (Edwardsville, Ill.) 1819-1826, 1821-03-13

MED by measures to increase the means
Of producing a currency, sufficient to dis
charge the great debts under which they
labored. In the adoption ofmeasures oil
relief, regard should be had to the state
of the country, and comparison drawn
between its present situation, and Pc
riod, when it might nationally be suppos-
ed, that its wealth, power, and general
resources, will have been improved
Measures which might be useful in one
part of the union, and productive of the
most essential benefit, might in another,
from the difference in its general relative
situation, produce contrary effect. And
in the adoption Of all measures, the re-
lation of things cannot, and will not, with
discerning minds, be dispensed with. 1t
is from the want of this comparison, that
great mistakes, in measures of policy,
most frequently occur. To an unpre-
JUDGED eye, that will examine the state
of Illinois, its great fertility of soil, SO
susceptible of cultivation, its extent of
territory, its geographical situation and
rapid growth, with the great accumula-
ton of inhabitants and wealth, which it
is destined at no distant period TO realize.
it will be perceived that the adoption Of
a measure calculated to relieve its inha-
bitants from the present pressure of the
times, with their concomitant evils, and
by which they will gradually be enabled
to discharge their debts, by instalments,
out of their present means, and with their
future acquired resources, would be a
measure not only durable in its nature,
but fraught with wisdom. Fit be asked
whether the establishment of the Bank
be a measure of this description, we an
swer boldly in the affirmative. Ii is no.
| iHOl liis.Il Ill tiiC lCJaticlI
of debtor and creditor. The state be-
comes the creditor, to the amount loaned,
under the most durable and ample Sc
curity, instead of the various individuals
who before were creditors, finding the
medium and the means of liquidating
| 81, Il 81 L. Il y
receiving the repayment in sums of ten
per centum per annum, until the loan is
extinguished. Here then, is seen in a
plain and simple form, its capacity to
ensure the relief sought. Will not the
humblest individual in the community
participate in this act, if we may use the
expression, of amnesty between debtor
and creditor, through the benevolent in
tervention of the state? Will not its re-
animating influence restore confidence
between individuals, in all their transac-
tons, and bring into active operation a
dormant capital of three hundred thou
sand dollars, which in its torpid state ex-
listed heretofore only to Cypress and ruin
the community--aff'ording the liberal and
proper opportunity of discharging, with
in the period contemplated, the engage
ments of individuals, which an entire sa-
crifce of the possessions of the whole
community could not at this time accom-
plish, because there is not the human
possibility Of obtaining of the present cur
rency in circu lation, sum sufficient for
such purpose? He who can doubt the
practicabilitv of the plan, is asked, how
can he hope to escape from present pc
cuniary difficulty, but by the acquisition
of future means, convertible into an
available fund? And it would be curious
indeed, if the practical and universal
experience of man on this point, could
for moment be doubtful.
| CURTIUS.
| FOR THE SPECTATOR.
Mn. WARREN,
Perhaps the following thoughts may not
be wholly useless to some ofyour readers,
who may be about to have their pockets
replenished with money from our new
State Bank. Yours, A,