Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1828-01-15

u &
ga., habits. among cur people; and con'riout-
Cd fvrh the ar.s Ct ieter5sted and unPrinol-
MED specuss,oTsJ 20 produce 4 nsminsi rse IN
Inc al.e or property, Il SorresDondins e1iEaF-
agance.
The evil was not confsed to the commercial
cities. bat extended Itself over The whole con-
,inen,. Thus arose and was fostered aspir'; oil
wild and reckless speculation, originating with
the merchants, bu, extending ITSELF through all
the rsmiaca,ions VI society. j.
The Americans are emphaiica!ly a nation OF
BUYERS and sellers for prof.. The Farmer, the
Mechanic, the Physician and toe Lawyer, are
all specSlsiors and traders to a limited ex'eh';
all willing TO add the profits OF successful spe>
c~ulation, TO the income arising from their Sc
verai vocstians; and willing to embark their
capitals and their credit upon The rcsul. OF theif
edys INJURIES.
Such was the undated tide Of pos.eriif'
which luTed upon the neutral States, ana UP
on ours in particular. Hrhoe II resuited ,he'
all those persons purchased, 20 sell again from
The com mencement Of The French Revolution,
10 the dale cf Napoieons expedition TO Mos
COW, necessarily Increased their capitals, De-
cause they traded UPON a rising marsri,-and
on the other hand, tho, e who purchased 10 sti'
sgsin Immediately az eT that date and i' s"me
wears more tas necessarily Diminished her
capitals, because they traded upon a faiing
marker. What they purchased IN the spring
cou do had for less in the fall and 70, less
still liz the spring ensuing.
Let US now contemulate the reverse " in=
picture; he ebb- tide OF commercial pfosnsri-
ty. Which commenced sf;er the general Fac T.
Cation Of Eorore.
The resumption Of their own carving rad
after the peace BY he continental nstlons Of
Europe, he restrictions Of our fshcrirs, the
riyalship Of Egyp; and South America, IN
lie production OF our staple exports; the large
impor atoms Of Europesn merchand ze and tbs
scarcIrv e specie ,hrnoe ensuing. Ine uh>
wise ,xpedi nj Of multiplying banks 20 supply
ihr want of it, and its total f%aiivr~; at the same
time that thew disabled the debtor IRON
literally FL filing his contracts. depressed
the price OF his real properly fr be-
los, no, onl, Us former Inflated appre'ia-
lion, but It's real Iu:-insic ,.iUe. The same
causes operated 10 render he creditor anxious
10 touch his money. Perhaps he had debts OF
his own 10 So ,isfy; bat whether he had or not,
property was nos a mere drug: ne could pur-
chase for oBc dollar, VIA sold d lew years ago
for 'wcniy The apprehension, toe, that his
De b,or would 'ail before satisfying his claim.
stimulated him TO lose 10 tive Suits there
j = if~h'ttNIf, CIV INAEi"' - ''oAN
All the property tia, could b. found WAS for
ced into the make, AID sold fer what il would
bring enough, perhaps, 20 pay he lawyers,
cl rks and msrshals. The debtor must now
go 10 i.ii. and. o release himself. mus. swsa
either agains, :lis in erss, or against MS COW
science; and The jsilor's bill mus b. Paid. II
the i~nso',ent has given up no mo!r prnpertN.
the cred tor must pay il himself; and bus, from
causes which no human prudence coV.d Iorcsfe.
which 10 wisdom on h,s part could have aver
ed, the poor insoivrnl is iurnei ns.ej and drs-
Iilu,e upon The world-his ~scli-love wounded
his seif-resp-ct impaired his credit arrih!lat-
ed-his iebis uudimini>hed, and his l.eart over
h0wlng with E Ri, KS towards his prosecutor
witch thr laws of no chrisIi-n community
ought 10 cherish Such has, in general, been
tue result nf tn fierce and cruel contests be
tween creditor, and debtors, in this District
snd elsew ere The evil has not been Conhn-
I'd to professed traders, as it has slrfddy been
observed. The farmers and mechanics, all
cl4s>e, Of society have dabbtsd in speculation
The evil. which i; IS proposed TO redress, ex
tends ih~ough al the rami6, atoms Of society,
and is co-exjrnsIvt with the limits OF the
Union. The practice Of constraining a man 10
swear. where his own interest is concerned, IS
unknown 10 The common law, end was always
deprecated by Dur Sa1on ancestors. The Eo-
clesia>ucal courts Owning a foreign allegiance
introduced i, from the PanGeots of Jns!inian;
and it was uniformly resisted from :se brein-
ming a. odir rus and unjnst, by thu people OF
Engia,d.
In" fuc'ua'iors of ,he sea Of are
now 81 ing into q calm, and many thousands L
our most useful and rnterprisIng ~ciiizens are
fonnd to have bern wrecked and stranded.
In" male population from &c TO 90 years of
age, comprising perhaps one-siXth part at the
Whole Constitute he efficient portion of every
community. In his Class are found the iegis-
la'nrs and judges, the physicians and lawyers,
ile professors and parsons, the naval and milI'
tl,y Offices, the scnonlmaslers, he farmers and
labOre,s, the carpenters and masons, the edit
ors nd PRIMERS, he iai!ors AID shoemakers,
The hutc he's; and bakers, and bsr5ers, the >ol-
diers an" sailor, i'm short, al the labor which
is TO maintain, all tie wisdom and learning
which is TO govern, and al The courage which
is 20 defend, the other classes.
This is he class whose Cause is now pleading
before the Nations legislature As the rela-
. + i H. - r..., d, 600 rh.su