Vandalia Whig and Illinois intelligencer. [volume] (Vandalia, Ill.) 1832-183?, 1834-04-10

:, y worthy Of respectful consideration
,, The experiment which the President
OF the United States has thoaght PROPER
; to institute on the currency of the conn.
6 try, has now been in operation five
, MONTHS: and never in SO shot time.
mas great People been precipitated
from the lofliest height of unexampIed
prosperity 10 the lowest depth of un-
merted distress md misery. It's 20.
lamitons effects are fo''-----, ~nerc. by
every class. by every interest, in e'eyy
Sc; 20 of our widespread Confederacy.
A"d the ills now experienced, great AS
they are, uhloubtedly, are emblttered
by the reflection that no one can dis
Germ the period of their termination,
and ii is to be apprehended that still Sc
we're, ~. ~; =, advance before us. If they
had been Provdential ntliction, they
would have been borne with manly re-
signation and Christian forutude; hut
they are aggravated by the conviction
that they are the work OF one mortal
man, the produce of one individual WIZ,
prompted by vlndlI1tt'vc passion or gu!d-
ed by erroneous views o. the public in
terest.
The experiment, besides its infuel.'%
on the general business of the country,
the dismlssion of thousands of the la
boring classes from employment, and the
check OH commercial operation and
other enterprises, has occasioned a very
great depreciation in the value of most
descriptions of property, and especially
OF stocks. should be glad TO see an es-
innate (and it would be a most interest
lug and not impractcable estima,t) OF
the aggregate amount Of national and
Individual loss produced by this most inn
Provldent measure, in the property. bu-
slness, and capital OF the country. |
have somewhere seen statement that
the total value of all the property. real
and personal, III the single Stale of New
ork. is estimated at eight hundred mil
Hons OF dollars. 1t would not be deem
leXtravagant 10 suppose that this proper
ty, by the operations of the recent meas
uIe OF the Executive, has been su ject-
ed to an average depreciation Of ten per
cent. Assuming the correctness Of this
calculation, the loss IN that State would
be eighty millions. The State Of New
York contains about one-sixth of the
whole population of the United States,
and probably one-fifth Of the property.
If property in other parts Of the Union
mas deprecated in the same proportion
as in New York, (and it has not been
less.) the reduction in value throughout
the Union would be equal to the enor-
nous sum OF four hundred millions of
dollar,! 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. al
though not an unlmportant item in the
account OF losses which have accrued
from the rash proceeding of the Exec
utive. Its effects on agricultural pro-
ducts, and other products of industry,
on the labor of the country, on COM
merce, on public funds, and in the stag
nation of the general business of the
People, has oCcasioned loss scarcely
interior to that to which the capital and
IP'NP'''J W ''S Npop'a1 hao uCSu tiiOSt
unwsely subjected.
Aud what is the remedy 10 be provi-
ded for this most unhappy state of the
country? | have coiversed freely with
the members of the Philadelphia Com
, mi'tee. They are real practical work.
ing men; intelligent, well acquainted
with the general condition, and with the
sutferings Of their partic ular community.
No Que who has not heart OF steel,
can listen to them, without feeling the
deepest sympathy for the privations aud
sutlerings unnecessarily brought upon
the iaboring classes. Both the Com
, mittee and the memorial declare that
5 their reliance Is, exclusively, on the Lee
I gislatlve branch of the Governments
5 Mr.. President, it is with subdued feel
: ings, on the profound-st humility and
e modification, that l am compelled to
: say that, constituted us Congress now is,
: no relief will be afforded ny it, unless
n ITS members shall he enlightened and
1t instructed by the people themselves. A
e large portion of the body, whatever may
Il he their judgement upon the course Of
the President, believe it to be their du.
= ty, at all events safest for themselves, tc
=, sustain him without regard to the con