Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1837-07-31

don't iss,lcd the celebrated specie CIRCULAR by
which it WINS ordered that payments for the
public lands should be made IN specie. II was
thus drawn in large quantities from the Allan
tic cities, where it might be wanted TO snsiain
a pressure, 10 tho West, where, 10 II great ex-
tent, it would be us useless Tor that purpose, as
SO much lead or iron. The pressure came
and it came upon an amount of specie in the
Atlantic citcs, diminishcdby so much as II had
been drawn of, and accumulated in the west.
The an cunt thus unwiscly abstrncted from the
place where it should have been, might il left
there, have so Ear satisfied the foreign demand
for specie MS to have saved the panic the run
upon the banks, aud their final suspension of
payment. Ifit had gone TO England, 1t would
have answered the purpose OF paying part Of
our debt; while, Ivy clicving the pressure there,
1t would have raised the price Of cotton so as 10
have aided materially in the pay mont oil The re-
muindcr The folly Of the administration lock-
ed il up in the western dcposlto banks, & thus
prccipitatcd the calamity with which the great
experiment for Increasing eTtcttipe potcer, bud
long threatened the country.
And now we osk-who can soberly review
the history Of the experiment, without feeling,
beyond the ROVER Of resistance, the conviction
that il has produced the calamity which now
ovcrw helms the country2 How vain the ut
tempt TO rcsjs, this conviction by atlribuing
the result to otcr-hanking and oyeI-trading
merely. The fire has burned the city but
who kindcd it and famed the ilamc2 The
prodga wasted his estate, and came 10 want:
but where was ithe wisdom of tho father who
gave him the estate and told him 10 use lU*-
The banks-especially the Government favor.
ites-havc over issued, md men have over
traded and over specuated. But where was
TIE GOVERNMENT, which is invested, express
ly, with The power to regulate tho currency Of
the country, that II did not restrain, rather than
stimulate these tendencies It's chief magis-
trate was making GRAND EXPERIMENT TO
AUGMENT TIE EXECUTIVE wER The lights
of forty years experience clearly showed that
the course from which the administration
sought 10 force the country, was the course of
safety and prosperity. These lights were UNI
needed. The warnings Of sober, consldcratc
statesmen were sounded in its ears. They were
despsed. The voice Of the immediate repre-
sentaiives Of the people was raised 1t was
disregarded. The GREAT PURPOSE was
| NOT 10 be abandoned. That purpose was N.
FLUENCE and POWER.
1t was not enough that the immense power
of removal and appointment had been Convert
ed from public trust, into executive property,
and that, thereby in the progress OF the mIscal-
led REFORM the press had been subsidized
the freedom and purity of elections restrained
and corrupted--the legislation OF the states
| controlled, and the deliberations of Congress
subjected TO the influence, and its decisions put
down by the VETO of the great Relormcr No
The MONEY POWER must be secured,
to fill the measure of an all grasping ambition.
Fatal experiment TO the country But, moro
! fatal, we would iain hope, 10 the Dynasty by
which it was conceived and executed. Fatal
in this sense, surely it will be, if the people are
not so druggcd with party opiates, as TO have
lost their sensibiIity to truth, and their love of
honest and manly independence.
And now what shall be done in this great
emergency To remain where we are is out
of the question. A remedy must be devised
To this question there is, to our apprehension,
a very plain and satisfactory answer We must
do Just what wise man would do who had
been led by an ignis iatuus, out Of a plain,
| beaten way, into boys, and tnire, and quick
sands. W must GO BACK. Christian and
EIopefus duty was not palmer. They escaped
the clutches of Giant Despair, got over the
! style, and went on rejoicing. We must gel
out of the hands Of the Dynasty which has de.
ceived us, and return to the good old way
from which we have departed,
And who can think Of the pure, and upright
and unpretcnding administrations which pre-.
coded that of the "Retormer." without signing
TO return2 Who can remember the sound ant
convenient currency which we once had ant
the steady, safe, onward advance Of nationa
prosperity which accompanied 1T, without
feeling of pain, on looking at the height from
which we have fallen, and surveying the mise
ry which. every where, meets our oyes2
Fellow citizens, we want A REAL RE
FORM. A reform which shall really 'co,Tec
the abuses that haze brought the patronage o
the government into conflict with the freedom
OF elections and which shall operate as
real 'connisraction of those causes which han
disturbed the rghtful course Of appointment
and placed and continued power in nnaithlu
or incompetent hands, We want Presiden
who will come forth with tho very declaration
Of General Jackson's first inaugural, abov
quoted, and faithfully carry il into practice il
his administration. We want n man VIII
shall talk less of democracy, and practice NOR
ofits genuine principles-a man who, instea
of deceiving The country with hollow profes
sions, and abusing it with broken promises
shall speak the thing he means and do tn
thing he speaks. We want man TO admin
,, lister the government, who will put himself i
the shoes Of no man-and least of all, OF ma
who, in the pride of bloated popularity la
trampled down the constitution, and fatal
experimental upon the purity the peace, til
prosperity and tho happiness of the country.
To effect this reform, the country should in
mcdiately emanclpate itself, as FAR as possible
from the lrammels Of the Weighing Dynasty, b
presenting phalanx in both houses of Cor
5 +The extension ofthe Bank facilities by the sta
e banks, was not only naturally induced by the mea
A ures of tbs administration, but expressly enoou
aged by H. MS appears by tho following insiructiC
of the Treasury Department to the pet banks:
The Deposites Of The public money ,riR enable "