Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1837-07-28

! Portugal. lnlV, ana turkey, Tor an entlte
exclusion Of the credit system. and the
employment Of a currency exclusively me.
talic
Our limits will not permit us to go into
an examination Of this great question:
But we will ask, whether those who are
for putting down all hanks, and depending
upon a currency purely metallic, have con
sldered the ADMITTED fact. that it would
require the whole Of the specie of The
world ~ furnish The United States with a
sufficient quantity for lis vas, and lncrcas
| ing exchanges? And If " did no, require
he bali of it: if the destruction of the
banking system would require bat the
doubling of our present amount $50 ml||ions)
uf specie: where are we to get the addI.
lonul eighty millions? VIII the now
lights tell us, Why, only The sudden for
cling Of less than half that sum into tins
country from Europe, under the late dis
aslrouS experiment, has produced such
drain from England as to derauge her mo-
nc,ary system, and thus aid. as we have
shown. in producing the arrangement OF
our own,
Bul suppose we could get an additional
eighty millions by forced means. How
long could we keep III A twenty feet
head Of water might as well be kept from
| flowing out OF an unohstruc,ed passage, as
to keep such an undue proportion ot the
specie Of the world III any country 1t viii
! find its level, in spite of legislative. or exc
culve contrlvanccs and prohibitions.
And besides, who is prepared to have
the property and labor of the country re
duccd one half or three tnurlhs, IN value
| by the diminished amount of circulating
! medium necessarily consequent upon
! resort to currency exclusively metalc'
| Who does not see that debtors-who must
discharge their obligations in the Number
| of dollars expressed upon heir face would
be inevitably ruined by such an operation
as this?
| And then there is the sudden check
which would be grver tothe great ener.
priscs Of our country--a retrogaiion OF
! half century in It's career ct improve
mcnl--a sudden transition from the v,gor
of manhood. with the rapid circulation Of
the blood Of a healthy credit system, to
the sluggish circulation. and cnieebled
energies of decrlDid old age.
The truth is. we must continue the cred.
it system. and we must have banks. They
are, indeed, liable TO be abused as is every
good thing. Bot shall we therefore de-
strov them? We do not destroy our rail
roads and steam boats, and return To rut
ted roads and sloop navigation. because,
now and then, a car runs off the track, and
steam boat bursts her boiler. We try
rather to improve the rail roads, and
strengthen boilers. and make the managers
more careful. Thus should we do with
the credit system; and thus shalt we do.
If wise and prudent councils are to govern
the country.
There cannot be a greater humbug than
the idea Of an exclusively metallic cnrren
CIV for these United States. in the middle Of
ire nineteenth century. And yet there are
men among Us who are mad enough In run
out the experiment to that extremity, ra'h-
er than admit that The administration haS
fatally erred and take the true ground Of
rciurning 10 the old and safe tcny from
which, IN lis misguided ambition. It has
driven the country. To that ground, we
mus, finally come. EXPERIENCE has pro-
we'd !, 10 bc SAFE i, and This is proof which
the common sense of tie community VIII
value far more than the specuIauJnS OF
ambitious party leaders, who, 10 divert
public attention from the true causes Of the
present calamity, and shield the admluls
,ralion from Just crnsure, are SEEING on
the present excitement To urge the coun
try To new aud dangerous experiments.
Fellow citizens. The pending election
occurs at crisis of almost uneXampled
interest. SHALT Ruling Dynasty. winch,
N lis mad EXPERIMENT FOR POWER has
brought W. TO The verge of rum. be sus-
tanned bv the people Of Vermont This
is the question now submitted TO yonr de
clsion. Boz Yesterday, it was in the fol,
pride of lis power. 1t seemed TO SAVIOUR
mountain stands strong, and we shall never
be moved. But the day Of the Counlry's
adversely, predicted by The 'hough'tul an9
the wise has suddenly come. Shall 1t
have come in vain, Shall no wisdom be
learned by this lesson of butter experience
Shall the country be made the victim "t
uew experiments and the dnpe OF new De
lrsious, rather han yield to sober councils,
and be- guided by the lights OF safe eNPe
rence2 Shall we, in short. GO BACK TO
the point of our departure. or shall we sui
fer ourselves 10 BE- drawn stIll further on
by the iguls laluus which has 80 fatally
msled the country Here as The issue, 1t
cannot be disguised, WAN you, thou,
fa,lrn Yourselves TO the car os the admin
s,ra,lon, or stand your ground aud main
tam your Independence There Is no want
Of fair pre,cuces to dclude and misead you,
Democracy--epmi rights--no monoP'ftes
These are the honled phrases used by
both branches of The supporters Of po'cer'
among especially by those WI" dare
aor come square OF noO for the admins
{,ralon and lis whole policy, but whose
faces are that pay, and who are ready to
90 as far as The iarlhest, 1t they can per
suade YOU To 90 with them,