Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1837-06-01

bly, we may hereafter venture a few su
gestions as to the remedy remedI
by the way, we will here remark wit
out now attempting to explain our r.
sons for the opinion-and we wish q !
readers to mark our predictiou-,b
remedy will be found in one of these
ternatives-an United States Bank
a Revolution aud dissolution of Il
Union! This is startling announc
ment, but he who lives seven wears w
see the fulfilment of the prophecy.
why should we be surprised ,t n
present. state Of public affairs. D;dl
steal upon us like thief in the niobt
were we not forewarned OF its approach
You were told of it in Congress. Re,
the speeches of Webster, of CLAW +
Calhoun, of Clayton, of Binney, of NJ.
Dnfhe, and others of the greatest all
best OF your statesmen, delivered nm
the occasion Of the removal ofthe dep,-
ties! What did they tell you: lie
prophets of old did not fore,el the cor.
ing oil our Saviour with more accurak
than these men, speaking with all ~.
inspiration of genius-witb all ,he,elo-
quenee OF truth, and all the ard0ur OF
selt-devoting patriotism, foretoid the G.
wills which must ensue upon The over.
throw of national Bank, aud the con-
sequent arrangement Of the currency,
and destruction of confidence.
You were told of it through the me
dunn OF the press. Every newspaper
teemed with admonitions. You were
told Of it to your faces-in public adj
dresses delivered TO you in your own
Court. But We needed not Ma.
ny OF you, under the influence of party
spirit, ridiculcd the faithful sehtineis
who proclaimed the approach Of dan
ger. They were false prophets Panic
makers You listened to the insidious
suggestions Of selfish and unprincipled
dcmagogues like Benton. You were
deluded with the preposterous idea of a
circulation composed entirely OF gold and
silver. You were to have "a better cur
rency" aye ga better currency, and
verify we have it a currency Of non.spe-
Gle paying bank no,es-gold and silver
banlshed from circulation, and your
bank notes a! a discount Of 5 or IO per
cent. IN the commercial cities.
Citizens of Augusta? Have YOU ever
counted the annual cost of this "Exoe-
rimen. of Gen. Jackson to the county
OF Augusta Let us make the estimate.
Let us suppose that there are fifty stores
Ia the county, and that these, upon an
average, sell $4,000 worth of goods per
year. This makes the sum of $3.50
oOo. The merchants receive for their
goods Virginia paper, and they go on to
the North to lay in their supplies.
What is the course OF business Virgil.
MA money Is at a discount OF 5 or 10 per
cent. The wholesale merchant OF course
cannot pay off his debts with this money
at par. What then is he to dos He
must either send his customer to the
broker to have his money shaved and
converted into money which is current
there, or he must manage the matter in
another and more ingenious way. How
is this effecteds Why, he knows that
If he were to send his customer to a
broker, he would at once take it in dud-
geon, aud refuse to deal with him, He
must therefore have recourse 10 another
expedient. 1t is this. He very polite
~ tells the Virginia merchant-''Don't
trouble yourself, sir. Your money is
very good. will take ii at par! But
he takes care 10 add on ) or 10 per
cent. to the price of his goods, SO as to
compensate him for the brokerage which
he has to pay, and thus in the end it
amounts to exactly the same thing as if
The Virginia merchant had had his mo-
ney shaved in the first instance. The
Virginia merchant then comes home
with his goods-fnds that they have ad-
vanced somewhat, aud Of course he laws
his per cent. of profit upon the increas-
edPrice, which is paid by the consumer,
and thus the county Of Augusta is annu-
ally taxed from s Il, 800 10 S25, 600. as
the rate OF discount is 3 OF 10 per cent.
in this Indirect shape So much for the
practical effects of the want of a u. S.
Bank and an uniform currency.
Ii your own Legislature were to tax
you TO this extent, you would rise in re-
bellion against the Government But
when you are not robbed, but only cheat
ed by northern President and his par
ty, you are satisfied.--B we have said
enough for the present. Reflect upon
these suggestions. In future number
Tor numbers, as the case may beJ we
will add something more on the subject
oil these HARD TINES.