Western courier. [volume] (Ravenna, Ohio) 1837-1838, 1837-07-20
From the M,bile comme. oial Regls,er.

From the Mobile Comme. cial Register.
In the midst Of the distress ofthe times,
the universal bankruptcy of commercial
men and corporations. and the general suf>
fering of all classes, Whig partyism has
had several sources ofconsolation and ex-
ultation. Gen Jackson was first protest.
ed, and then totally ruined, in their news
papers: that was owe great comfort, and
long did they chaunt triumph if not thanks
giyings for such an unexpected gratifca-
tion. TO be sure, it turns out that TIE
report is unfounded, and III at the express
ident is solvent and unhurt, safe in a
solid competency nlIrsed by contented pru"
dence, while the sudden fortunes of over.
grown specnlations have crumbled to pie
ces around him. But the story served its
purpose for while; it had its day, and
happy did ii make the Whigs--for that
day. The next source Of congratulation,
and il has not yet been exhausted, is the
discovery. that the Government is bank"
rupt. The vaults Of hundred banks are
closed-neyer mind, seem to say these
patriots, the Government has stopped too,
FIVE hundred mercantile firms are pros
trate-ay, but the Treasury is insolvent;
thousands of prudent men- and thousands
more of honest laborers, have lost the
fruits of their tolls, and are without pros
pect Of improvement in their disordred
affairs, but the country cannotpay its debt
the deposite banks are broke, the reve>
nues are lost! And thus ever. when we
recount the extent Of the wreck of credit
that surrounds US, we are assured, as
with taunt and triumph, the nation is
bankrupt too! One would naturally think
this peculiar subject of grief 10 patriot-
ic citizens, above any individual loss; that
every man of every party would feel a
common interest in the credit of the ma
ton, the preservation of public faith, and
the redemption Of national contracts
Fierce in.ieed must be the party animos-
ity that chuckles over the loss Of the pub,
lie revenues, and the dishonorng Of the
public credit--because thereby ingenious
malice may create the means Of political
profit to party. Yet there can be no
other explanation than such sordid and
selfish one, = given to the manifest eager
ness with which most Of the presses de-
voted to Wing interests, hunt up, report,
amplify and exult in, every fact real or
alleged which goes toproye that the bank
suspensions have embarrassed. delayed,
or frustrated the performance of the Just
contracts Of the nation. 1t is also well
worthy of remark, as another sign of this
temper, that the worst efforts Of whig en-
nifty are directed against the measures,
by which the administration seeks to save
itself from the reproach OF insolvency
which these wings are most ready to cast
upon it, and acquire the means Of paying
its creditors in the hard monev--the want
Of which, is SO peculiarly the theme of
whig denunciation. The government,
reviled for not being able to get specie
from the deposite banks, where they pla-
ced funds, equivalent TO specie and they
a,ereviled more, If they refuse TO receive
the notes of these same deposite banks
for accruing revenue. They are insuled
t1r not having specie to pay; and they
are threatened with bloody revolution If
they ask for specie to pay with--the spe"
Gle which now that there are no specie
paying banks, is the currency which only
the laws vigorously require them on their
oa,hs TO demand. The mode of bringing
about the bank suspensions, illustrates
this inconsistent and selfish spirit. The
banks were solemnly advised by public
llmee,iugs to suspend specie payments; and
they did so without the consent and against
the wish Of the principal depositor, the
United States Government. Those who
counselled them SO strenuously to take
this extraordinary step, with the full
knowledge that all The public money on
deposite would be converted into irre-
deemable bank paper--pledged them.
selves at the same time to support the
suspending banks by receiving their notes
at par as of solvent institutions. Yet loud
is the clamor Of these very men, because
the Treasury cannot get the funds which
they advised and urged the banks to with
hold; and If it offers them the notes which
they promised and pledged themselves
10 take. And louder still is the clamor,
if the Treasury takes the steps inexorably
required by law, to obtain specie funds,
for the public service; and #, 10 execu-
lion of sworn duty the public officers seek
by the lawful way to provide the funds
which they we're instrumental in causing
to be withheld, which they think j. a
heinous offence 20 want, and they proclaim
II high handed tyranny and gross oppres-
sion TO get. They.thus labour to embar,
ross every action of the Govern0 ent In