The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1837-09-02


credit Frustrated, and the monetary system OF
the country most deplorably deranged, and
that they are all intimately connected, cannot
be denied. The course that some are taking,
with the seeming design of involving them in
greater difficulty and embarrassment, we can
but regard as a most unwise, unjust, and SUI
cidal policy. These interests are insepara-
bly, associated, and, instead Of belonging to
any one class, they are appurtenances and
privileges of the whole country. To disho-
nor or to paralyze them, is to weaken the ma
tional resources, and render unhealthy the
whole body polite. II is idle to talk Of one
class as independent of another-they are all,
including also the agricultural and manutac-
turing interests, mutually and reciprocally de-
pendent All united, they form a beautiful
and harmonious system, which forms the ba-
sis of national strength and prosperity.
Until recently, we had supposed these
things admitted, as matters of course but
now, the several divisions seem to be recog-
nized by some, as independent and antagonist
sovereignties. The simple recognition, how
ever, is not the greatest fault. lnvidious dis
linctions are made. The poor are arrayed
against the rich, the laborer against the en-
ployer, the agriculturalist against the manu-
facturer, the city against the country, and the
banker and the merchant are singled out, and
without regard to character or circumstances,
covered with reproach, insult, and contumely.
We can see neither wisdom nor benevolence
in such a course. A great attachment to the
working classes may be affected, but how is
the prostration Of the mercantile interests to
benefit those classes Suppose by any kind
of legerdemain, the credit system of the
country should be destroyed, would it better
the condition of those, who, in cant phrase, are
called the producing classes! On the con-
trary, those classes are always ultimately ef-
fected by the disorders of currency and trade.
Dishonor the merchant, destroy the banks,
and our great commercial marts, now the
pride and boast of our country, would become
deserted ruins, ard the ffequented haunts
only of bats and owls. Involve the marts of
trade, and of course the interests of the pro-
Queer are also involved. Destroy the mer-
chant, and You destroy the market The
merchant is just as essential to the convent.
cnce and prosperity of other classes, as the
other classes are to him The merchant and
the producer are in fact, informally, co-part-
ners in business. The consumers are as
much interested in sustaining the merchant,
as the merchant is in sustaining his custom
ers. OF course, the mercantile interests are
the life springs of commerce. And upon what
is our government more dependent in its pre-
sent revenue system, than upon commerce
Dry up its streams, and what becomes of the
main reliance for revenue Cut off these
feeders of the national treasury, and the
wheels of your government must stop Is it
not therefore clearly and literally a suicidal
policy to keep up pitched war upon the mer-
camille interests
Surely, nothing has done more for this ma
tion-nothing is doing more than commerce
and credit They have built up our cities,
and enriched thousands OF our citizens. Fur
nishing the principal supplies of revenue,
they have-been the magic power which has
done all in connection with the appliances of
labor, that has distinguished our country IN its
career of cultivation and improvement. The
duties paid by the importer, we are aware,
ultimately come out of the consumer, but
mercantile enterprise is the alchemy that has
developed the resources and power of ma
ton of consumers. This active and unlring
spirit has carried our commerce into every
sea, and built up our credit in every country;
it has perfected marine architecture, and, CIV
ing employment to thousands of our fellow
citizens, has thrown off all dependence upon
foreigners for the carrying trade. In addition
to the wealth ii returns from every sea, it
saves millions to the country that Were form
erly paid to other nations, in furnishing an
outlet for our productions. These things are
well understood and yet bulls and anathemas
are constantly hurled at the merchants and
the banks, with the fell intent of bringing
upon them ruin and disgrace. Is this fool hardy
conduct intended to serve any political END
If it is the motive is as bad as the policy is
pernicious, and deserves the unqualified re-
probation Of every honest sincere friend of
his country.
We are told that the prevailing disorders
are not felt in the interior OF the country that
the producers" are exempt from the general
calamity that the cities and the merchants
are the sufferers, and that they have courted
the fate that has deScruedly fallen to their lot.
1t is doubtless true, that the greatest distress