Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1837-01-10

nsss. sDd d, , tts'eIt 60 ih,n. 90 n ssd ihtt ne
sesa,v 70 cter.fa6sd-'ttt 'bs tsHts asfc over
,..uee. 40 ihsi 'h- rafcittets = ru5bc tne,
hs~s been ,-'s etfrtfREtrt. au n'i tifuft bf
The t'uih afite pforf,cr uftbcss ccfrFIf tis. Ihr
,hrAsr r. ote'-tfnaiue Is tefy Crurrn-cu', boi nr'
,,ty ,t'sr fiblf. n q mesas cay t.'H- % nean'
thai vuf dsslnrt Wah otber ccuuiuss Haff tfouftI
q, IN debt io lRosc eauuihet. Va ihst eate lh,
ssehanrr i4tnt Az net our eounifr.a rd - rccNt''
hr Or etpofis'iou e. fere or ttDtRs in the bret
iss,rer. 80 then bv reducing the .mroi,s O. fhe
stpor.. Now ihs rci 10 iist 81 ihss moment
The ,,eh,sge. a-- oil in hft' cf ihs county
thai -. goa ran boy tbil ofcsstarEe ors taretrt
eounttv cheaper thaa yen can scud The specie 20
that %couF,ry. Aecof8lugIe. uuoh srcc.e comes la
none goes o9i. Ttis. Too. 81 q moUoni when
The ,rehsnge r. tho last Gro Is catousied and
that oftho Bew crop hss tof oeuc into nsfkci,aud
when nc ere On tie point q sending 'o Europe The
produce n tho country. 60 Tie aoeurt ui eighty or
one hundred aihoas of dollars. How. then. has
The couniiy o,er-iftdsdf Exchange With OIL The
world IL inhyor q New York. How. then. can
New Yo,k te On cref-trsdcff Her merchants
have cold goods 10 the merchants Of the Interior
Who arc willing to pay. and. unlcr ofdiuiry cifcum-
stances, ,ble 10 PAY but. by The mere fault Of the
government. - obvious a. q 40 earthquake had
swallowed them up. their debtors arc disabled from
msking immediate payment. u Is not that TIC A.
l.p,,c merchants have cold too many goods, bot
ihA, the government, prevents their receiving pay
meat r rsny. Moreover, in the commercial cities
money can be bad. though rt ox'rsyagant rates.
for capitalists sdd to tie extraordinary charges for
the use oft. = high insurance sgainst the loss Of
II. II is not. then, 90 much that money is not TO
be pfocurcd. ss hat doubt ADD alarm increase the
hs.-sJt u Leading IT.
Thcn a. 20 the banks. It is quite probable that
n.uy ofiho bsuls have extended Their issues-hut
whose fault is ~ who cslled these banks into
existence TIE Executive. Who tempted and
fosded them 90 tLese issues, Undoubtedly the
Executive. TIE country. five yeats ago, was 30
posscssiun Of ,te most beautiful machinery Of cX-
changes and currency The world ever saw. ltcon-
sisted Of { number Of State Donks, projected. oud
at The same t,Dc restrained by the bank OF the L.
States.
The people q the L. Sto,cs, through their rep.
rcscuiAtiyes, to.cLsrtcrcd That Institution Boz
the Executive. oi.conteuled with ls independence
rejected the &C, of Conprcs-and the favorable top
io Of defamation wos. ;hs, The states would maxi
banks, and these banks would create a better sys
TEN Of currency and exchanges. The states &C
c~ordingly made bants-sud then followed the idI
psrsdcs about the ,oans of these banks, and ihcl
enlarged dealings in exchange. aud what is TO-
eonssquencol The bank Of the L. States hrs no
ceased 10 exist more than seven months, and al
ready the whole currency snd exchanges are run
ming into incxtrcsble confusion, and The iulustf
Of the country Is butdcnrd with c1'ravaCaut char
res on all the commercial intercourse ofthe Union
And nov, when these banks have been created b
the Executive, and urged ito the cScesses instea
Of gentle snd gradual remedies, a fierce crusaG
was raised scHinst hem-the funds are harshl,
and suddenly taken from them. and they are force
q
~ power which brought them into being.
They received snd were expected to receive il
psymen, for Tie government. the notes Of each OF
er, and the notes Of other banks, and the Cao''1,
with which they did 60, Was a ground Of specla
commentator by the government. And now 'Ha
government has LEI loose upon them II demand f.
specie. 10 the whole amount ofthese notes. J 9
further. There is au QUERY abroad, raised by fac
,ior end echoed by folly, against the banks Of ID
L. Srsics. Untl it was disturbed by government
The banking system cflhe L.. States was Al least o
good a. ,hst ~ any olhec commercial country.
What was desired for the perfection was pro
eisely what ! have so long stryed to accomplish
to widen the metsiic basis of the currency, by
create infusion Of -o.a .E'o the smello- chaurc.
Of circulation. This was 10 a grajusl and udicia.
tnin Of accomplishment. b. tis miserable fo
cry about so exclusively mcis'ic currency, Is Quit
n bNHklA . - 10 VIZ A'h hH' NN N.NNN 49, $50 WV
to polling up the M'ssiasiPfD Bsnks may of'
CT from ~aut Il ,tll. and occasionally be lulur
ous 40 steam is-bu, u T. not lhc less true, %.
the banks O. ihs country have bren the great ID
s,raRleu,s Of 80 improvement. and ths, duuug a
tie con,ulsions 81 tMe is,t eileen yCsff, Coz syc'
American bank ahieh has failed, a, least ten En-
lsh bauks have isl'ed.
So with regard 10 tho lands. f1r the 'asi "a
wears. tie amount cf the ssles cithc public Jam
has been > o1ns.1ui theme 80. clagfataia.on vi
the Executive. ln tie yefv l,st message on 2
1871 Of Dee. 1885. Ao rcpsa.. tha same s'rai
"Amonr the evidences O. trarslaHr property
the cooniry. not he ieas. gratifying s ihst stor
Cd by the receipts Of the public ,aa'-.Har. tD.ul
10 The psss,ot ycgt 70 eleven mI'lrnt az dollars.
This ctrcums'snce sttssts che fsp't'y ~iih ~tI
agriculture. he frss ard meet oraHi cccuT
ton Of n.I1tarrc md G. 'IE.lcs 90 the wot.
and power o. oaf rs'.nalag 'crrtcr. 10 7
came retss-e. Pc .-s'.rrs HAT tine ciFcIlal'
metium has bsea greatly lufJa,ec. fy tie %
Of he slate bsuks ltlt ssccr aIusd laa' Cd. 'bc vai
Of ths community. 20 relation % e~artsree md 60
rehc,, are supplied - well e. hey taFe ever Dc
before" scs,ceiy seven months cla0ss Aheu tar