Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1834-04-03


ing; and possessing great power from the
frequency and greatness of its falls
Prior to 1871, this power had always
run to waste, except here and there
saw mill or grist mill, to supply the
exigencies ola sparse nelghborhood, and
one inconsderahle forge. Since that
period, from time to time, and from place
to place, that power, instead of running
to waste, has been applied to the use of
propelling machinery, ill the valley OF
that small River, has become the Man
chester of America. That power is so
unlimited, that scarcely amy limitation
can be fixed to its capability of progress
sive increase in its application. That
valley, in these towns, already has in II
over thirty different establishments; it
has in it two millions of fixed capital IN
those establishments; it has expended in
1t annually, in the wages Of manual la
Dor, five hundred thousand dollars; it has
in it one hundred thousand spindles in.
operation. ] should say it had-for one
half of these spindles are already sus-
pended, and the other half soon must be
suspended, if the present state Of things
continue.
On the bank ofthat River, the first cot
ton spindle was established in America.
The invention Of Arkwright, in 1871, es-
capped from the jealous prohibitions of
Englan and planted itself there. 1t
was brought over by a Mr.. SLATER, who
had been laboring manufacturer in
m xlh hn Tt ,,,t
He brought it over, not in models, but
in his own mind, and fortunately he was
blessed with mind capacious of such
things: and which, by its fair fruits, has
,made him man OF immense fortune, and
one Of the greatest of benefactors to his
adopted country. There he made the
first essays that laid the foundation of
that system, which has spread so far and
wide IN this country, and risen to such
height, that il makes demand annual
ly for two hundred and fifty thousand
bales of cotton-about one fourth of all
the cotton crop of all our cotton-growing
Sites; makes for those States, for their
staple, the best market in the world, ex-
cept that of Eng land: it was rapidly be. q.
coming to them the best market in the
world, not excepting that Of Eng !;
still better, it was rapidly becoming for
them IA market to weigh down and pre-
pOnderate in the scale against all the
other markets ofthe world, taken togeth-
er.
| Now, all those prospects are blasted
by one breath of the Executive Admin
istration of this country. Now every
thing in that valley, every thing in pos
session, every thing in prospect, is tot
tering to its fall, One half Of those one
hundred thousand spindIes are, as be-
fore stated, already stopped; the other
half are still continued, but at loss to
the owncrs, and purely from charity to
the laborers; but this charity has its lin
it, and regard TO their own safety, will
soon constrain them to stop the other half.
1 Five months ago, had one travelled
through that valley and witnessed the
scenes then displayed there-their nu-
merous and dense population, all indus
trlous, and thriving, and contented-had
heard the busy hum of industry in their
hours of labor-the notes Of Joy in their
hours Of relaxation-had seen the plenty
of their tables, the comforts of their fire.
sdes-had, in a word, seen in every
countenance the content of every heart:
and II that same person should travel
through the same valley hereafter, and
should find it then deserted, and desc
late, and silent as the valley of death,
and covered over with the solitary and
Ip,a do Al
tablishments, he would say, surely the
hand Of the ruthless destroyer has been
here. Now, il the present state of things
is to be continued, DIS surely as blood fol-
lows the knife that has been plunged to
the heart, and death ensues, so surely
that change there is to take place; and
he who ought to have been their guar
dian angel, will have been that ruthless
destroyer.
| Though it has been denied here that
the Removal Of the Deposites was the
cause Of the distress, it is not denied that
it was the cause of the cause; it is not
denied, that it has produced the destruc-
ton Of confidence and credit; nor that the
destruction of confidence and credit has
produced the distress. What signifies
it, whether the distress stands first or
second in the chain Of consequences
from that measure? Allthe conseq equences,
mediate, as well as immediate, colate-
raj, as well as direct, are equa lily to be
ascribed to it. They are all bitter and
deadly waters from the same fountain.
II Will it be sa id that these collateral
consequences were not foreseen, and
therefore were not intended by the Ex-
ecutive? BE il so: / believe it was so :.