The herald., 1837-05-03

today VIII be conducted with proPfc'y anu i'ouo'o
nen-and that in the present Crisis whch all iee'' an
example Of respect the laws and venefaon ior me
institutions of the country may be shewn by the la
boring population, which did not characterize some Oh
the speeches and sentiments of the merchants at Ma
sonic Hall Whcn men, high in the social rank and
supposed 10 be educated AND intelligent cat before
hieh heaven such fantastic tricks" as did the Hone
neelng and its alders and abettors it is the duty OF
he great mi!dng ranks oflife-who after all consti-
nte the bone and sncw of the land--to set an exam
lie of decency and moderaion and TO shcw to the
mad agitaters that there is difference between
noHsrance and drevoluton-between public consulta-
lon and dnclpient lnsurrection.
The Herald was the first paper in this city to re-
commend an early meeting of Congress, in order to
regulate and replace the currency on firm basis, the
arrangement of which is of the principal evils Of
the day. We glad TO see the Masonic Hall meet.
ing adopt the suggestion, but could not but re-
gre the violence of their sentiments and the ridiculous
importance attached to the influence of the Specie Cir
cular. The noise made that point is the grossest
political delusien. II originated with ignorant and
corrupt vehice-the creature of any whe will pay
for it the rate Of S52 756-whskers and vanity in
cluded.
The present evils which affct the country are the
joint production of all parties and all classes They
have been produced by overbanking, overtradng,
everspending, overiving, everlasting, overdrving,
overreachng, Overcheating, overborrowing, overeat
ing, overdrinkng, overpraying oversinnng, ov,r-
thinking overpayn ng, overriding, overtipplng over
fiddng, and overacng Of every kind and description,
except orerplou CHING which alone is the foundation
of society and the coraer stone of civilization. In
such country this, with millions of acres Of fine
rch land, and plenty Of room to msye IN, we cannet
overpleugh, and by very natural consequence we
cannot overmarry, unless man is mad enough to
take wives and in that the crime always car
res its ewn punishment with it, Neither can we
overlove the beautcous sex, if we educate them pro-
perly-dress the n up elegantly and smply-teach
them piety and love-and make them fit companions
for immortal beings either in This world or in that
which is come.
Ever since the year 1890, the country has been
pidly running into its present condition. One thing
alone has producea it, and that is undrploug CHING
This is the great evil Of the day. Millions Of acres
have been bought-but it was not purchased to
plough, only 10 sell again, make dash and cat
figure
The first symptoms Of the mania which has pro-
duced the present revolution developed themselves in
the spring of 1929 when Mr.. Van Buren, a common
country lawyer, who bcgSn life by rundllng cabba-
ges to market in Undertook, perfumed with Cologne
water and his yellow whiskers arranged Ia Paris,
presented the famous Safety Fund scheme of banking
in Albany. Abjah Mann, of Herkmer, took up the
scheme and pressed its adoption in the Assembly, on
the ground OF opposition to the United States Bank
and in order take the place OF that institution, then
preparing 10 get recharter from Congress From
that moment the advocates of banks in general were
divided into two hostile parties, acting on poll-
cal principles, and guided by political motives. The
same spirit Of hostility appeared soon in Congress-
The democrats opposed all banking in Congress, but
carried it all lengths in the states. The conse-
quence was the protracted conflict between General
Jackson and the United States Bank which, singu-
larly enough, gave greater developement TO wild,
unregulated banking principles than if the United
States Bank had been renewed tn lines over. In tn;
midst Of the conflict the old notions of hard money
currency were called into action by the government
to snstain itself with the mob. The people, the
mob seized upon this idea with greater avdily than
was intended. The increase of banks and the spread
of the banking principle gave wonderful impulse TO
all kinds of trade and speculation while at the very
same moment began the current of hostility to banks
which is now daily draining them Of their specie
Prices the Of twenty per cen. per annunI,
and thousands who began the year poor ended II rch
and saucy
This unnatural and artificial increase OF wealth,
produced by the unnatural and hectic increase of pa
per money, created all kinds of extravaganza ee-
gaHce refinement RIGHTEOUSNESS, splendor and show.
Every body set up his coachthe very clerks in Pearl
street kept their horses and gigs. universal pas
sion seized all ranks to become ricll-not by work
not by ndusuy-not by frugaity, but by operating
in stocks-buyng and selling real estate-projec ing
towns-cutlng out vlllages-or planting cotton and
specializing in negroes The mechanics formed trades
unons-paraded the streets--rceled round corners
frcquented grog shops-and asked for double wages
The banks found similar unions to shave the
community and increase the interest Of money.
Clergynen became infected with the disorder, and
every clergymans wife must have new church or
pair of breeches every second third year. In
winter balls sorfes. jams parties, at thousand dol
lars each followed with the rapdiiy Of steam power
In summer, the shore, Saratoga the Catsk noun
tains, Niagara-the whole country everrun with
shly men, silly women, and sill y bandboxcs. The rail
road cars, the steam boats the post coaches and all
species Of conveyance were filed with both sexes
laughing talking, flirting, kissing, signing and spend
ing paper money. The most expensive habits were
INDUCED IN by all classes The journeyman's wife
must have parasol and silk dress the bosss wife
a carriage and pair Of boods-and he great tradcrs