Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1824-06-22

'a"k system underwent change and all t.esc caus.
y, ~ my view oil the sut CT, concur ed to produce
hc greai shock which ,ook place in our comnerciai |
cities, and through many parts OF the country. The
year 1919 was year Of numerous failures, and very
distress and would have furnished Ear
he"ef grounds than exist ~ present, for that gloomy
representation OF our condition which has been pre-
seated MI Speaker has alluded 20 the strong incli-
na'on winch exists, or has ex,Aed, in various parts
oil the country 10 issue paper money, As proof Of
great exiting difficulties. ! regard IL rather AS n
very productive OF thuse dfe ui,ie. and the
conimee will not Tail 10 observe, thar there is at
this moment, much the loudcst complaint OF distress
pret se'y where there has been the greatest aen,p,
10 relieve il by systems Of paper credit And, on the
osher nand, content, prosperity, mud happiness,
most observable ia hose parts Of the coun,ry where
,h,fe mas been the least endcavor 70 administer re-
i'ef bylaw Ia truth, nothing baneiui, so utter
" 'unons 10 all true indutry, as Interfering with the
legal value Of money, attempting RAISE artificial
standards TO supply its place. Ssch remedies SUI,
well the spirit OF exravant speculation, hut they sap
the very foundation Of all hopsst acquisition. B,
weakening the security Of property they take ava,
all motive Tor exeriion. Their rfsct is to ransic,
property. Whenever debt is allowed 10 he paid
10y any thing less valuable than The legal currency
~ respect To which !. contracted, the difference
between tue value Of the paper givea in payment and
the legal currency, rs precisely SO aiuci property
taken from one and gwen ano,hei by eRisla-
tive enactment When we talk, therefore, of protec,-
ing industry, let us remember that the first measure
,or ina end to secure 1t IN its ear",ngs to assure
u that u shalt receive lis own. Before we invent
new modes oil raising prices, let take care that ex-
,s'ng prices are not rendered wholly unavailable,
ny making ,hem capable of being paid in depIe ,aed
paper regard, Sir, this ssue OF ira enable pa
per as the most proniuent and deplorabe cause OF
whatever pressure still exists in the country IND.
further, would pat The question TO the mrmbers OF
ms committee, whether 10 not from that par, Of
the people who have tried this paper system, aud
tried TO their cost, that thus Bill receives the most
earnest support And cannot foibear TO ask, iu,
Their, whether this SUPPORT does not proceed ra,her
general n M nnfler nj
sent condition. Of things, Than from the clear percep-
ton OF any benefit which the measure itself can con
Ter! 10 MOI al expectation OF advantage conferred
90 sort OF vague hope, that change may produce
reiiet Debt certainly presses hardest, where PR
ces have been Kept up by artificial means They
nnd Tue shock 'ghtest, who take 1t soonest aud /
'"y behave thaf u those parts oil the country which
now suffer most, had not augmented the force of is
dow oy deieir'ng It, they would have now been in a
much better condition than they are. We may as
sure ourselves once for ALL SIR that there can lac no
such thing as payment Of debts by legislation. We
may abolish debs indeed we may transfer properly
ny visionary aud violent laws. But we deceive boib
ourselves a. our constituents, f we tlacr either our
selves or them, with the hope that there is any relief
against whatever pressure exists but in economy aud
industry. The depression OF prices and the stiena-
ton OF business have been in rut the necessary re-.
sui OF circumstances. No government could pre-
Vent them, and no government can aus ether relieve
the people from their eject. We had cuicyed a day
o, f;,hsoruns5y prosperity we had been aeura
while the world was AZ war, aud had found grcu,
a.nand Tor our products, our navigation and our
labor We bad no right expect that that state of
th'ngs would continue always. Wuh the return of
peace, foreign nations would struggle for themselves
and enter into competition with in the great OBJ
jects Of pursuit.
Now, sir, what is the remedy for existing evils
WI lat Is the course OF policy suited 10 our actual con-
d't'on Certainly il is our wisdom to adopt any
system that may be offered to ms without ezau,ina-
ION, aud IN The blind hope that whaicser changes
should
Bear those ills we have,
Ihan ny 10 others that we know Of"
We are bound TO see that there is fitness and an
aptitude III whatever measures may be mmeuded
to- relieve The evils that aflict us and before we
adopt system that Processes make great airera-
lions, Is our duy TO look carefully to each leading
interest , o. The community, aud see how it may prob
any ne ahected by our proposed legislation.
And, in the frs, place, what is the oalition OF our
commerce Here we must clearly perceive, that u
IS not enjoying that rich harvest which fell to its for
June during the continuance OF the European wars
IL has been greatly depressed, and limited TO small
prohis Still, IL is elastic and active, and seems ca |
pabe OF recovering itself in some measure from lis
~, Inc shipping interest, also, has suffer-
ed still moie sererey, probably, than CON-
MERGE u any thing should strike us with astonsh-
tneni, u rs that the navigation OF ihe United States
shou'd he able to sustain itself. W,ihoui any go |
'e'nment protection Whatever, " goes abroad 10 |
challenge competition with The whole world aud i'm |
sphe OF All obstacles, il has yet been able 10 main
tam Sooooo tons in the employment Of foreign trade
row, SIR, do the ship owners and Dayigaors ACCOM-
push ihIs How is that they are able TO meet and
IN some measure overcome, universal competition
Not, SIR, by protection and bounies but by uuwea-
r'ed exertion, by extreme economy, nv unsbake en-
pc rseverance by that manly and residue spirit which
relies on itself 10 protect iise These causes alone
enable American ships still TO keep heir element
and shew the Sag OF their country in distant seas
he rates oil Insurance may teach us how thorough
~ our ships are built, and how skfuly and safely
ihey are naVsgaicd Risks are taken, as learn
IL ON the Unned States TO Liverpool al / per cent
and from the United States to Canton and back a. |
low as per cent But when we look TO the Low
rate OF freight, and when consider ALSO that The
aficies catering into the composition Of Shin with
me exception Of wood, are dearer here than in |
o,ner countries, we cannot bat be utterly
maj ihe shipping interest has been able tn sustain
Wse III all need not say that the alton of the
country Is essential to lis honor, and lis defence
et instead oil proposing benei for il in this hout Of
IFS depression, we propose by this measure 10 Law nm
on pew and heavy bur,hens. In the discussion the
OH day, oi that provision Of The bill which promo
ses 10 lax taiIow for The benefit Of the oil merchants
ana wbaemen, we had The pleasure Of hearing eIo-
quent euogiums upon that portion Of our sh,l,tpy
employed IN the whale fishery, and strong
OF ITS Importance 10 the public interest. But the
same Bill proposes severe tax upon that Interest
Tor the benefit Of the iron manufacturer and The
hemp grower. So that the tailow chambers and
soap boilers sacrificed TO the oil meschan,s in
order that hese again may contribute 20 the manu-
'ac'siers oil iron and the growers of hemp
Qo be continually
from tse National Gn,ette1 /
ubSEHAL JACkSON-rhe interest which po,y .,
acnes 10 e political opinions Of General Induces
;G publish recent letter of his concerning The Ia