Richmond palladium. [volume] (Richmond, Wayne County, Ind.) 1831-1837, 1837-05-27

index Of COR sasioaal prosperity, and whose I'll. will
include the RUIN 1t thousands il every region Of
our territory. We do not tell 6ctiaious tale a
woe; 70 have no selfish q Psrtissn views 10 sus'
tain. when we assure yon shst The noble city
which We represent, lies prootsato in de.psr. ITS
credit iyhied. it, industry Par.'ized. and without
hope beamHn9 through the darkness Of the future,
unless the government Of ou' county can oe ino"e
ed l., venquish the measures To which We attribute
oar distress. We f,lly appreciate the respect
which 10 due our Chief Magistrate, ard discla'm
every intention Inconsistent 9th that feeling bu
We speak in behalf of . community which tsemhies
upoa the brink Of ruin, which deems itself an ade.
qn.,e Judge Of al questions coonecsed with the
sade snd currency of tho county, aud believe that
The lnlicy adopted by the receot administration,
and sussaioed hy Tho present, 10 founded in erros.
aud thsesiens the destruction Of every department
of industry.
Our mercl,anss. manufacturers and mechanics,
have repeatedly predicted the fatal iue Of that Poi
icy. "what was prophecy, has nov become his
tory; and the reality Ear exceeds our m d gloomy
|appsehcnsions. Under . eeep impression 1T the
pe"psie:y Of combining our declarations within mod
ern limits, re affirm that the value 1t our Real E.
state, has within the last six m'nths, deprecated
more than forty m,llocs; that within the last t~o
months there hsve been more than two hundred
aud fifty failures Of h'u>es engaged in extensive
business; that within the same period, decline VI
Stock .. Including those Railroad and Canal incor
porations, which though chartered in other States,
depend chiefly upon New York tor their sale that
! the immense amount Of merchandise in ware
houses, has within the same period fallen in value
at least thirty ner cent; that within few weeks
not less than twenty thousand individuals depend
ing upon their daily labor f,r their daily bread,
have been discharged by their employers because
The means Of retaining them were cxnsus'ed-and
that complete blight has fallen upon . community
heretofore 20 active, enespsizsn4 and pro~PcrOus-
The Of rulers has produced . wider desO-
ation than the pestilence which depopulated our
streets, OF the conflAs'at,on which laid them in
| ashes.
| We believe that il Is unjust to attribute these e.
wills to any excessive devs,Opemcnt Of mercantile
enterprize, and that they really flow from that un-
wise system which aimed at the substitution Of a
metallic iOs paper currency-the system which
give tho fist shck to the fabric Of commercial
prosperity by removing the public DePostes from
the United States .nk, which weakened every part
y: tho ed6ce BY The destruction Gf that useful and
deficient lion, aud threatens to esumbe
IL mass Of RUNS under tie operations Of the
Specie CIRCULAR. which Withdrew the gold and sill
yer VI the country from the channels in which .,
co1. &c Ds:.itabv employed. We assert that the
Experiment has had ;s..r liberal trial. and that
disappointment aud mischief are VS., ~ al IL
result Shat the pfomse Of regulated cuireilc :
and equal'zed exchanges has been hsoken, the cur.
seUcy totally dis0fdcsed, ind i,tern.l exchange,
almost en,,seIy discontinued. We therefore max {
our earnest appeal 10 the Executive, and ask we IT,
er - not time To intesppse the patern.l authority
Ut the Government, aud abandon The policy which Is
i begXanny the People.
j Amd sil the distresses Of our condition We have
been gsat'fed BY view Ut the generus ana for
O.srmX spirit winch has sImD-t INVARIABLY marked
the CONDUCT Ut the creditor towards the debtor. A
J general deposition has been manifested To INDULGE
The debtor with ample time ios the arrangement, III
MS business aud collection Of his debts, aud We
would respectfully suggest the example for the i'm
'sst'O0 Of tise GOvesUinent.-The embarrassment
and distress VI the merchant would he materially
relieved y The suspe"diog Of suits upon unpaid
S""ds, u"''I . future day, when the wisdom Of
Conx'e-s may gent so'ne measure Uf sref
| Feeling - We do that We have reached crisis
which requires tie exercise Uf all the wisdom aud
enesty VI 'l,s County, 10 heal 'be wounds which
nave Ueen i,f c.ed upOn ito Commerce and Prr
duc'tvs industry, We would respectfully and eat
''sssly urge ppm the Executivs the psUt,sisty o(
Calling um extra session IL Congress, to dc.bssses
"pon the unprecedented and alarming embsnass.
'"cnts in which, ws are invvlved' The metnber-
coming directly from their constituents. will have
he'd The 0pp0ss unity Of knowing Snd sppeecstina
tho extent 0f the distress which exist, aud We sss
convinced that their collected opiW'ONs will fuiI,
s'stain 'hoss which We have sxp.cs.ed-and ,hs',
testimony indicate On amount III suffering Of which
~ cannm believe that you, Biz, have hssssoioes
been aware.
| We pesWade ourselves that ,he representation
which ~ have given of ,he actual condition NJ ~,
aEaies. will snduee ym 10 doubt tho cxpedsncy Of
'is p'licy which hiss been recently pursued. and We
trust 10 your intelligence for such change ol
measures a. will revive The hopes and s,inulsls the
energies Of the merchants Of New York.
l ISAAC 8. HONE,
1 JAMES w. BRYAN,
BENJAMIN LOOER,
| ALEX b. McALPiN,
JOHN A. UNDERWOOD
| THOMAS TILESTON.
MEICS b. BENJAMIN,
! ELISHA LEWIS