The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1837-08-15
Etrnssrs vasM tnu srKksn % Hos. THOMAS
EWING. a. C-iLLIcCrnr, ONO,
lana no. f-.T.

EWING. A. GutLLIcCrnn, DHtpB
Iuna 90, i-a7.
$3.50. Thousa the disease whioh has been
tr-aght upan our rurrsncy hAa now he@onle 20 10
vstsFats tl.ag o. Frtnety shich Will be aPPhca ca
sGsst a cufe, yet " may be interesting i@' ne
rssrt to trurt ths several stages BY whfeh q has
h... hfoarht ,n 10 prcscnt degree u Nirulsnee'
'rhs hsrt hloW thai dealt BY the 7hecuhNe n''
o. ne Ffsst uiunied instiiut1n, yes tie oIb'u ~
che evil tbaagh its effects we're not ~ once 80
Fant TIE rtluoFai q the deFnsises h''''"eH -l'u
.,,-,,,.,eA th. ryisis tnot 90 mech by weakening
the Kbank 81 the 4 nitod States a. py PaolnT an
isamsanse aunbuut 81 public money ~ the hahus OF
ne sHeeutivo and be- fu'of i'naie agenu. Slo.'s
sass ire removal 81 tbe deposites The amount OF
.,,fl5~ money aroso immense sum, and o. q
was credit Only "a Possessed the attribute 81 iAnl-
tipiyit.s ITSELF o. tndehnite extent There We,
~ esnGapis one million " dollafs 81 TIE public
nssssv 10 dsposite bank more than would DO
probably drawn oui tn tee eurrsn yea tor ih7 Pur-
poaa 0f government. thrt bank would 'chu lhis
Fnilion fos the purpose Of making interest uP"n ii
lhe raonoy 30 loaned would BE- paid into the iand
Offices for customs and ium'di4isiy deposited 90
the same hank o. BE- loaned agar sud again of the
same purpose Such was tie course II things o.
curing IN numerous banks, whfch the abundance
uf hctiu0as capital multiplied bsynnl any ioimer
precedent Until speculation, ihstisatod BY ihp he
uuous stats 81 thinEs, out into wild excess
The unparalleled sales u the Ihlic lands which
took place last year, amounting o. mote '9an i"en-
ty-thyoo r1illions 81 DOLLAR, were The legitimate
fruits of the removal u tho dspusite, BIS - no
new tbought ~ mine In NY speech on the Land
Biil on tn 18th nnt 10Th dh's 81 March, l--to,
adv auced the idea aR6 somewhat ~ large develop
ed tho mode 81 its operation and l added Tint
what the government received ~ thcu iaLi s NOT
money bot cheat, mere uash, ard that ever
thing - tending So catastrophe sImiar % inst 60
lSi5' I believe bad Dot fHe dasf - The Pssi
commercial ratasttoras exactly right bot % the
NrHrs no one will say thul ! erred very widely 90 !
my prsdictaa q 20 cnnlIng
To- tho gsssiBS % t-a@ iamtiiarIF called ne
panic session. .NS hear n no panic now W.
Claw. 10 sp.aking Of tSe change at tBe public DO
pos5srs hkened The stnA Iu Which ihey had been
Pizzsd D. Roud st-uns say, rar 1nnsutui.on. ans
- setr'a. 'FsF ~-~,~'i-''ts ?" a h.et uaiA 'a'
aoes ted ingsther - -EaPr 49,. ~ -s'a,ht
thyy IN sht hoai avsh lio fsiF weathsF and bu n
smooth sea bot ihe fret ifrsh bTrcEe that passed
over tiem wcuid, he said, ssDd Them and tneIf
ffelEht o. tas hattorp The ou'y uslstrks lu those
- b. predicted iae eveu1, wss IN entertaining ths
hope thar hey would net sink 81 sudtsBfs. Bot
I have 8fsn saio, and repeat it, io1k upon tNe
IuICry O. Our cufrcnry 1.-THE -ssschfefs doue ~ the
pTsscnt Interests u the community q small ifn-
portanco compared wtth shat naicted spga ne con
tufutiOh, add the dagger which % tnvuiyea o. the
liberties q ryy1biiS.
have not spoken, nor will speak, Of she, su .
srably 81 judged eIyeSient thq treasury CIRCULAR
the l.si arbitrary act of rourng despoi Intended
60 sure sthgn the doposie banks ~ enlptyfng into
them the vaclts % aIl officers, but " hich led
private hosrdiTs, snd took FROM those hanks more 1
than "a Eavo. Niil not speak of 70 or dwell upon 4
g. m trsth, .ls.en - tia rrcltai Of the a.
surgstsoPs ~ power snd he Wrsnsy which cave I
been bof-- SOC yssEs hv this H,tsG ur oTncd f--au
" q wefo but The miserable. sily experiment ~ a.
bard moacy currency, which in truth, the OBJ T.
lect oi those wbn guide the exCcutiys cuuuseIs we
riisht cons de- Chat d. aaA ls1eb Il g sn.l a.
the suffering 10 has broushi upon us-but let us not
hattoT ourselves with such belief Hard roHeB
cuTTFHey-tba new mInts at Dahlonega end Or
leans which were TO coin the yelOt, Loys the real
mint drops, that wero to shine through she long
silken purses Of our farmers, was a mere hoax a
tut for the whale The projectors wero never silly
enough doubt how fhia wODlS all and Tb,yl
knew, and all Of us knew that il would end in the
destruction oftho subject which they protested %
improve-but they knew also their march towards
absolute power.
So far the executive has moved forward with ri.
ants strides towards his object and will the present
incumbent, who is pledged TO carry out tho rrinoi-
pies OF ms predecessor go forward in his footsteps!
II hat DC ms purpose he will seize upon the pres
ent disturbed condition Of the country and the ex-
cited state OF the public mind and attempt at once
without argument discussion, 10 establish a
treasury Bank, which shall be the creature |
oil the Executive will. And why, if this be not his
purpose-why was Congress on sudden convened |
after the state Of things become irremedibe when
their convention was refused, though demanded by
the united voice of tho commercial community !
while relief was yet possible But let not the |
trends OF the Constitution and Of the county no
for a moment deceived by any bait which he NAV
throw out, or drawn into any snare which he may
set for them.
IL tho President DO now ready 10 resign n nor,;op
OF his ill-goten and msused power-if he viii trul,
surrender the public purse into the hands o! the
representatives Of the people, let them go hpnd in
hand with him in counting the mischiefs Of the past
but let them not compromise or yield up any of the
sacred rights and duties with which thew are IN
trusted especially not, by vote of theirs surron-
der the public purse into the hands which have as.
snmed it,and thus mako legal tho plumber If their
stand be firm in this last crisis and their effort viz
orous, success will attend them, for the frown and
strength OF the adversary departed The pres.
ent Executive may pledge himself TO ''carry out The
principles Of the past, but thank God, the power
occupies the hold cannot hufi the lance nor wear
the armor Of the absent giant. lie had the s,rord.
but not the arm TO WELD 1t. Despotism, which
mas "ade long and rapid strides may be bid to
stand-nay, IL may be driven back in lis footsteps.
the country, though long misgoy erned NAV Re Sill
saved, If the friends OF the constitution. in ever
part OF the onion will rally, unite, and como 20 re
rescue. "
MARIA MONKS CONFFSSInN