Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1837-06-08
failed to "es,sblish sound and uniform Cur

failed To "estsblsh sound and uniform Cur
rency,"
This Currency it was proposed to improve.
by substituting The Better Paper Currency ct
the Local Banks; and this remained Tor 1--WE
wears the policy of the administration.
AZ the community become aware by re-
flectiop end experience that these banks
could,po6 Furnish general circulating 'nedi-
nm. end mat rbeys Gid not as per agre ement
'~honor each others notes and drsf;s," il be-
came necessary to make still another promise
to fnrnish a substitute for the substitute
which had been given us for the Currency OF
the U. 8. Bank. And how is il with the sub
stituted suhstitute? After eight yearx Of IN
cessant aud harrassing interference with the
Currency, what has been attained by 'res''
dent Jsckson's own showing? Let the mes
sage of 1896 speak for him.
"Although various dangers to our rePuoli-
can institutions have been obviated BY the
failure Of that Bank to extort from the Gov-
ernment a renewal ofits charter, It - obvious
that lille has been accomplished sre'pf sdin
tary change Of public opinion towards resloring
to The country the SQUAD errre'ry provided by
the Constitution"
And how much is that little? And what Is
that sslutary change in public opinion?
banks have been created. 2. One hundred
and seventy nine millions have been added tC
the banking capi,al. 81 rhe circulation o'
paper money has increased Sl25, SOC, 900. 4
Loans and discounts have been increased
S396, 100000.
And this is the marvellous good for which
we have endured so much! This is the resnll
tor which we have passed through 40 much
suffering, and are now The witnesses OF such
widespread devastation! And the executive
looks calmly on---exulting in it's iniqnltes-
rejoicing in the ruin il has cansed-and mp
peaing to the Justification Of its measures to
the motives That induced them and the
GF"hnppy consequences" in which they
have resulted.
Since writing the above, we have received
further intelligence Of the Better currency
ti,e'simproved circulating medium"-of which
General jackson so lcarncdly discourses IL
his messages. The Safety Fund and Depos
ite Banks in New Yoyk have suspended Spe-
Gle Payments. Which have since been fol
lowed by nearly all the Banks in the United
States. This IL the fnaie-the denOmce
ment of the Gold l1umbug. General Jack
sons "HuMBLE Exports" for the restoration
Of the CoNsTITUTioNAL CUhRENCY-hav'
compelled the Banks to suspend Specie Pay
ments. and have literally cursed the countr.
with currency Of Rags. Truly did DAME
WEBSTER say in the memorable session q
'33 'A-"I would say to every honest ma
every where, who wishes by honest means t
gain nm honest hiring: Beware of wolves i
Sleeps clothing; whenever attempts. und'
whatever popular cry. to shake the stability o
TIE Public Currency bring on distress in mo
,ney maiters. and drirt the couniry into Pdpe
Money, slabs yo,u'. interest and your hGppines
TO The hearti And whoever has the wicked
ness and the hardihood TO avow, purpose t
break dpwn what has been fonnd in fort
years experience essential tn the protectio
Of all interests by nrraying one class ngans
ano,het, and by acting Oh snch principle a
TINT the poor ui,nnys hate the rich. shows him
self the reckless enemy Of nil. An enemy I
his whole couutry, to all classes. and to eper
man IN H. he deserves TO be marked especial
ly as the POOR MANS CURSE"