Staunton spectator. [volume] (Staunton, Va.) 182?-183?, 1831-10-28

present Administration. Such an event is
now about az probable, as the union of the
friends Of Mr.. Clay with The Administration.
-dZza>-
From Niles Register.
MoHEy.-Thc Secretary of the treas
ury has given pu6!iC notice that, on the
first day ofJanuary next, nearly six mil
lions of the public debt will be paid off.
This will be so much more capital re-
leased, and we suppose lis being set a.
float VIII have the effect still further 10
advance the price Of stocks. Eie5srs.
Cohens and Mir. Pop'ihcH private bank
ers in Baltimore, if they DO not beware
in time, will rue the day that they oiler-
ed to pay fire per cent. interest upon all
deposites Of money for a term not less
than twelve months. 1t is paying too
dear for the whistle.
The preceding paragraph is from the
National Inteligencer. The opinion
Of many persons in Baltimore, who are
thought to be among the best Judges
of money Matters is opposed to that
Of our friend Of the ''Intelligencer. The
fact is, that, because Of heavy exports
ofsPecie, on account of the high price
of exchange on England, money has
already begun to be scarce" and will
soon be III great "demand." There have
heaQ. moEGmWemsn tfag Of specie in Bal
weeks than, PcrhoPe, IN a. or tour
twelve months. The protection f q tn6g-
nestle industry had caused much ease to
the whole solvent trading community
but the vast importations of foreign
goods, and the consequent departure of
specie, shows that the tariff is not vet
sufficiently high or its provisions sufi-
GENTLY enforced, to prerent injurious de-
To"SementS Of business, 6y fluctuations in
me rdtue Of money, as measured by the
price of lands, houses, or any other thing.
Moderation IS always best-and steadi-
ness most profitable. There has been
an apparently regular and safe rise in the
value OF property in nearly all the chief
cities and towns OF the United States
but the abstraction often millions ofdol-
lars from the vaults of our banks would
lessen the CIRCULATION not less than fE-
ty millions, and so increase the value Of
money that many engagements, thought
entirely prudent two months ago, may
not easily be complied with. We re-
gard specie only as a merchantable com
modify, and should it reliux on account
OF the price Of bills of exchange, all per
sons ought to rejoice in its movements,
showing profitable circulation ofraiue;
but when it departs because of the HIGH
price ofcXchange, mot being native
production,) it is the best of all possible
evidence that there is real balance Of
trade against US, however difficult It NAV
be 10 prescribe rules which certainly
shew what are balances ftrade. A few
years ago, as we have often remarked.
IT was the .JcGJW cry, Of the profound
philosophers ofthe south, that the tariff
laws would ruin the revenue, g. compel
resort to direct taxation for the ordiba-
ry support Of the general government:
now the fact is, as we have always said
thatit would be,-the common prosper-
lty OF the people, because Of protected
industry, enabling them 10 purchase more
Freely, will give TO the revenue not less
than five millions of dollars more than
the most sanguine calculation for the cur
80 = '"'t 't'vNilB Gil CLtIb importation
OIL about twenty-five millions, which
must be substantially settled in coin. un-
less increased demands should be made
Tor orr staple p,oductions-and there is
no prospect that Europe is willing to
make a general war for our benefit.
i, 5. Since the preceding was writ.
ten, We have ascerjained that money Is
source, among all that are dependent on
Ire usual ACCOMMODATIONS at bank, and
we learn that the pressure will become
heavy, unless the export Of specie shall
be speedily checked Between six
and seven millions Of dollars have lately
departed for England-last week, balfa
million left New York in one dav.--
| Forced sales Of goods arc making 70 OBJ
! tain funds, and rainous prices only OBJ
tanned for some ofthem. And the New
York Courier says-''IVe understand
from Washington, that The u. States rev
euue for the present year will exceed
The estimates by eight mHlions o6dolIors.
/ II was estimated at So O0O OnG--it will
{ reach nearly $50 600, gU0 Such Is the