Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1834-03-11

it ia to be apprehended that still severer lie IN
advance before us. If they had been Provlden-
tial inflcton, they would have been borne with
manly resignation and Chrlstan iofutuoe' out
they are aggravated oy the cohViu.io tlia. 'liey
are the work of one mortal man, the produce OF
one individual will, prompted by vlndlctve pas
sion. or guided by erroneous views OF the pupnc
interest.
The exneriment, besides its influence on the
general business of the country, the dlsmlsslon
of thousands of the laboring classes from en-
nlovment and the check on commercial opera
tons and other enterprises, has occasloned We
nv great depreciation in the value OF most de-
scriptions Of property, and especially OF STOCKS;
| should be glad to see an estimate (and IL Woula
be most interesting and not lmpractlcaDle esti-
mate) Of the aggregate amount OF hatlohdl
and individual loss produced by this most I'M
provident measure, in the property, business,
and capital of the country. l have some
where seen statement that the total value
of all the property, real and personal, IN the
single State of New York, is estimated at
eight hundred millions of dollars 1t will not be
deemed eXtravagant to suppose that this pro-
perty by the operation Of the recent measure OF
the Executive has been subjected to an average
depreciation of ten per cent. Assuming the COR
reCtness of this calculation, the loss IN that State
would be eighty millions. The State of New
York contains about one-slXtb OF the WhOle po-
puation Of the United States, and probably
about onefi fifth Of the property. If property IN
other parts Of the Union has deprecated IN the
same proportion as in New DIRK (and 1t has not
been less,) the reduction in value throughout
the Union would be equal to the enormous sum
of four hundred millions OF dollars! More than
double the sum which the last war with Great
Britain cost the United States!
But the depreciation in the value OF capital
and property is only one, although not an unim-
portant item in the account of losses which have
from, t,ar oc, n IL
tive. It's effect on agricultural products, and
other products Of industry on the labor OF the
country, on commerce, on public funds, and In
the stagnation of the general business OF the
People, has occasioned loss scarcely inferior
to that to which the capital and property OF the
country has been most unWisely subjected.
And what is the remedy to be provided Tor
this most unhappy state of the country? have
conversed freely with the members OF the Phlla-
delphia Committee. They are real, practical,
working men; intelligent well acquainted with
the general condition, and with the SuiterlngS OF
their particular community. NO one, who mas
not heart of steel can listen to them, without
feeling the deepest sympathy for the prlvat!ons
and sufferings unnecessarily brought upon the
laboring classes. Both the Committee and the
memorial declare that their reliance is, exclu-
cusively, on the Legislative branch OF the Co
vernment. Mr.. President, it is with subdued
feelings of the prOfoundest humility and moru-
ficatiOn, that am compelled to say that, constr
tuted as Congress wis, no relief Will be AFFORD
ed by it, unless its members shall be enNghten-
ed and instructed by the People themselves.
large portion Of the body, whatever may be
their private judgment upon the course OF the
President believe it to be their duty, at all events
safest for themselves to sustain him without re-
gard to the consequences of his measures upon
the public interests. And nothing but clear, de-
cided, and unequivocal demonstrations OF the
popular disapprobation of what has been done
will divert them from their present purpose.
But there is another quarter which possesses
sufficient power and influence to relieve the pub
lie distresses. In twenty-four hours, the EXecu-
tive branch could adopt measure which would
afford an efficaciouS and substantial remedy, and
re establish confidence. And those who, III this
Chamber, support the Administration, could not
render a better service than to repair to the EX-
ecutive Mansion. and, placing before their Chief
Magistrate the naked and unoisguised truth, pre-
vail upon him to retrace his steps and abandon
his fatal experiment. No one, sir, can perform
that duty with more proprety than yoursef~--
You can, if you will induce him to change his
course. ToyOu, then, sir, in no untriendly spirit
but with feelings softened and subdued by the
deed distress which pervades every class OF our
countrymen, make the appeal. BY your Off
ciaI and personal relations with the President,
YOU maintain with him an intercourse which
neither enjov nor conVet Go to him and tell
him, without exaggeration, but in the language
of truth and sincerity, the actual condition of his
bleeding country. Tell him it is nearly ruined
and undone by the measures which he has been
induced to put in operation. Tell him that has
experiment is operating on the nation like the
philosophers experiment upon convused ami
NAL. in an exhausted receiver, and that it
must expire, in agony, if he does not pause,
give it free and sound circulation, and suffer the
energies Of the people to be revived and restor
ed Tell him that, in single city, more than
sixty bankruptcies, involving loss of upwards
offfteen millions Of dollars have occurred. Tell
him of the alarming decline in the value of all
property of the depreciation of all the products
of industry, of the stagnation in every branch
ofbusiness, and of the close of numerous manu-
featuring establishments, which, few short
months ago, were in active and 1ourishing oper
alton Depict to him, if you can find language
to portray, the heart rending wretchedness of
thousands ofthe working classes cast out ofem-
poyment Tell him ofthe tears ofthe helpless wi |
dows, no longer able to earn their bread, and
of unclad and unfed orphans who have been
driven, by his policy, out of the busy pursuits in
which but yesterday they were gaining an ho-
nest livelihood. Say to him that if firmness be