Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1834-07-10


ed with great success. They have over
thirty different manufacturing establish
menis within their narrow limits, and a.
bout two millions Of fixed capital invest
ed in them; they were moving about
eighty thousand cotton spindles, and wefo
expending IN the wages Of manual labor
about four hundred thousand dollars an
nually. But now, more than one-third
OF these works are suspended, and that
proportion Of laborers dismissed from
employment; the residue, though contis
nued, aTe continued at loss, and their
progress is from bad 10 worse. This is
their condition, their present condition,
as they tell us themselves. Put the ho-
norable gentlemen from Missouri, who,
it seems, knows their situation better
than they do themselves, tells them in
his place here, that they are under q
great mistake in this matter; that, COM
pared with the average Of late years,
they never were IN more active and
prosperous condition than they now are.
Indeed! Then it must be that these Gu
pitalists, who really believed that they
had suspended their operations, and had
dismissed their laborers, were IN a state
Of hallucination; no such thing had ta-
ken place; every spindle was in notion
as before. And these poor laborers who
really believed that they were out Of
employ, and that in consequence there
of, their families were suffering the pri-
walton of the necessaries of life, were in
no such condition; they were stlll in full
employ, at full wages; and their families
were still well fed, well clothed, and en-
/ joying all the comforts Of life they had
ever known. They saw, as they befiev-
ed, their water-wheels at the falls, or
y their water courses, stopping here, and
there, and every where; and their esta-
! blishments silent and deserted; but IL
was oil an optical illusion. But this ma
MIA, this astonishing mania, that has pro-
duced these dclusive phantoms, these
optical illusions, how Is that to be ac-
counted for! Why the same Hon. Sc.
3 nator tells us, it is to be accounted for
by panic speech, made here upon tho
floor Of this Senate. Then no conjurer,
no sorcerer, no magician, that ever was,
can compete with your panic speech.
The enchanter's rod operates only by
the exhibition Of the specious miracle TO
be wrought upon him; but the potent
spell Of the panic speech, though pro-
nounced here in this Capitol, is felt to
the extremities Of this Union; at the
sound thereof, every where the whole
country is struck aghast with imaginary
distresses And the magical effect is no
Tess astonishing, by the length Of lis du-
: ration, than by the extent Of its opera
tion. 1t is now six months since this
country has been spell-bound by it, and
= kept under this strange and miserable
: delusion.
I But irony apart; that honorable gem
, tleman teNs this country, and with a noto
beme, that it is not lightly said-bM upon
his dignity as Senator, and his honor
). as a private gentleman-that their dis
e hesses, whether real or imaginary, or
v partly ono and partly the other, have all
|. passed away; and that the prosperity Of
: the country compared with the average
d OF late years, was never greater than is
!. now is. The country, no doubt, has
|, great respect for that gentleman; but i
!. doubt whether they will give him entire
A credit for the correctness Of this state.
a rneht, eontradictsd as il 10 by the evi-
: dence Of their own senses; and by tho
n still better evidence Of their own bitter
a experience.
. They will tell him that they have seen
v with their own eyes, and felt by their
. . own experience, the currency Of tho
country to be deranged, totally derang-
I ed by the arbitrary act Of the Executive
h thereon; and all its attendant evils-the
h confidence Of the capital Of the country
f to be thereby destroyed; and with tho
Il confidence, the credit, and with the cre-
: dit, the business, and with the business,
the prosperity of the country, to be de-
stroy ed. And chat these DISASTROUS con-
y sequences Of that arbitrary act Of power
10 still remain upon the country; and must
:. remain, undated and unmtig whiFc
:, the cause remains as il does, unremove d
A. and unremedied.
70 II seems now to be finally settled, that
J. the cause is not to be removed; and fhai
IS the country is not to be relieved, either
q by the action Of the Executive, or OF
: Congress. The country must now bo
,fi aware Of this fact; and they will now no
,t longer feed themselves with deluslvo
hopes from that quarter. They must
, now see that the only remedy for their
grievances is to be found in themselves;
4, and to DO applied by themselves.
:, "To your Tents, then, o Israeli -
~