Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-03-05

dra Wn $500. is the inference ldiI, that tuc
poor are now living on their former earnings,
and that the laborer wants employment!
know, sir, that any appeal in behalf or these
people, would be unavailing if it were address
sed only to Office holders. They do not suffer-
The reduction of the price OF grain, or the price
of labor of any description, works out clear
profit to the salaried officer, who receives his
instalments regularly from the public treasury,
and who can now get bushel of corn, or hire
a laborer, for half the price he formerly paid
He views the removal of the deposites as
great good, because while it depresses other
men, it increases the value of his salary. Inc
immense band of mercenaries who may stand
ready whether contractors for public jobs, or
public ofices) to sing re Deum, IN honor OF
the occasion which has brought suffering ana
distress on the country, are but paying part OF
the price for which they have been hired, when
they either deny the existence OF TINS alstress
or the cause which has produced IT. Inc rlch
capitalist, shaving paper, may 1ouoW tnelI eA-
ample, and justify himself in the belief that ne
is one of the happy few who came into the
world by the grace of God booted and spurTea
TO ride his fellow men," He and the oflcehold-
ers may rejoice while they ride and rule over
the plundered ploughman and the beggafed
yeomanry. The eXpectant OF those CRUMBS OF
comfort which are hereafter to fall from the Elk
ecutive table, whether in or out or these halis,
whether already in the high road to promoton
or hereafter to become so by gaining STATION
where his services may be worth paying loT,
will probably turn deaf ear to all these repre-
sentations All such as crook the hinges OF the
knee where thrift may follow fawning," will
still tell us of the blessings of strong govern
ment, while they poison the public ear with tnelr
hypocritical commentaries on The dangerous
poirer of a national bank. While their voices
are echoing the very Shibboleth Of their party
Bank Aristocracy-Money Power-and Bank
Monopoly" they are the ardent advocates OF
confederation of fifty State Banks under an
Executive master; and whole regiments of OF
fee holders, backed by pensoned press, con-
stituting power far more dangerous to liberty
than an Executive body guard of ten thousand
bayonets instead ofeXciting their slightest APP
prehensions attract their applause, and receive
their most cordial support.
''Write but good angel on the DEVILS horn,
"'Tis not the DEVILS crest"
No, sir, the hope of the petitioners rests not on
such as these, but on Congress, and on Congress
alone. They present themselves here, neither
as stockholders nor as debtors OF the Bank OF
the United States: as men in no manner con-
nected with the institution, or subject to It's con-
troll. They tell you in their memorial, that there
is in their State no branch of the Bank OF the
United States, and that the curtailments which
their own State banks have been compelled to
resort to, were not caused by any pressure OF
the Bank OF the ioldleS upon tilelll, Uut
by the general dstrust which the unexpected re-
mova of the public moneys from an institution
where they were advantageously employed, has
created in all the State banks and among the
whole commercial community. Fully conVinc-
ed that this is the cause of their enlbarrassments,
they earnestly pray that the deposites may be
restored; and, without soliciting recharter OF
the present Bank, or venturing to point out any
other course, they ask from Congress, in gene
raj bOt pYn the adOntlOn
some measure for the permanent establishment Of
O sound currency.
Sir, there is no greater evil in the view of an
intelligent business community, than arises from
frequent changes in the value OF money With
a uniform standard of value, the borrower pays
what he receives, and the lender receives what
he loaned. To preserve uniformity in the stand
ard of value, is the great desideratum in pOliti-
cal economy: and this can only be attained by
a steady adherence to true policy on the part
of the Government Although it may be, and
probably is, absolutely impossible to maintain
perfect uniformity in the currency at all times,
yet the best statesmen whom this country has
produced, have declared that the operations of
the present Bank of the United States had as
nearly arrived at that perfect uniformity as it
was possible for human ability to attain. Watch
ful of the causes, both foreign and domestic,
which were calculated to produce sudden eX
pansion or contraction Of the amount of the Cir
culating medium, the Bank has been generally
prepared to provide for any emergency which
could happen. But from this condition of things
we have fallen by an ill-advised Executive mea-
sure which has deprived the institution of the
power of preserving it; and now the value of the
dollar isso deprecated, that he who four months
ago was able to pay debts to the amount OF ten
thousand dollars, cannot with the same means
pay six thousand. If that Executive rescript
which has denounced the present Bank, should
remain irrevocable, and be faithfully registered
and obeyed by subservent Congress, the evils
of f1uctuating standard of value must CONT
nue., and continuing, it must increase.
The convulsions arisingin the money market,
under such a state of things, musts shake the pre-
sent business and industry OF the whole coun-
try with shock, from which, if it ever recover,
it must arise only after the lapse of many years,
enfeebled, exhausted, and always expecting
another blow from the caprces of the null
titude, or the passions of tyrant. In the
existing state of uncertainty, as to all the future
operations Of the Government on this great sub
ject, no prudent man of business will embark in
new enterprises, or fail to discontinue much of
what he may have already commenced. Would
he borrow for fresh exertions in trade? The
return to a metallic medium, (were such thing
teaSible,) would compel him to pay his present