Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1837-12-23

Ths h,,s~ias extract fs. sAs nsssss q Gov. vaaes
Of Ohio 10 vosny asssnsivs pssusal I places ss sab
ice, On which i. treats, ia proper Light
Let u examine and sec what would be the
Operation Of such hazardous experiment ~ that
o reducing the circulation OF the country TO sPc-
Gle alone. Every man conversant with the laws
Of trade and the effects OF currency, must admit,
that all articles Of merchandise and all descrip-
tiens Of property. must fall in proportion to the
reduction of the circulation. This, to be sure,
is not ALWAYS its immediate effect, but that 1t
must in the end approximate to that standard, IS
not TO be questioned But its operation will not
end here; it will raise the value OF debts IN a "a
ito still more oppressive. Suppose the banks OF
Ohio were compelled TO wind up their business,
as they certainly must DO under TINS exclusive
mctaic currency, and that after calling in their
circulation there should rcm1in due to them ten
millions Of dolars-the result would be, that
i, would take what is now worth forty millions
in landed estate, to settle this debt.-Ne may
theorizc as please, but all revusions IN trade,
when heavy balances remain unsettled, and es-
pccially in agricultural States, must IN the end
be liGuiidatcd and paid by change Of property
from ono hand to another, nineteen tweniieihs
Of which will fall on real estate. This Will prove
equally true in winding up tho atLIr OF any other
pronincn, branch Of business, as wei! as that OF
banking. Stop, for instance, the importation OF
f,reirn uerch1nd;zc-compcl the merchants
throughout the State to close their business, end
tho debt due " i'll have to be promptly satisfied
by real estate. Oar whole credit system IS IN
good degree based upon the security OF landed
property and the policy that shall hazard ITS sac
rifcc, is destructive 10 the interests AMI prosper
ity of the whole body of oar people.
Ihavc tried to understand all the arguments
that have be en- used in favor of this hard-inoncy
theory, and after mature reflection, have labo'ed
to carry ont their results; and l cannot see that
there is one human being in the United states 10
be benefited by it's operatons-:he men receiving
compensation and salaries from the pnblic, ana
the nun of money and mortgages, excepted.
That the destruction of credit will mike the rich
richer and the poor poorer, is TO PLAIN PROPOSE
ton 10 be called in questionable history OF our
own State IS an argument mnch stronger ina" d
ny l can make in this proposition. II there Is
single district of country in the United states
that owes more to credit than that of any oihcr,
it is Ohio Credit has given US one of the most
cn.crprising and active sci of business men that
have we'd in any age, or in any country. Crc-
di; has given to us an equality of fortune that IS
not to be found amongst the same number OF people
in America elsewhere. Credit has bought
our land; made canals; improved or rivers;
opened our roads; built up our cities; clearedour
fields; founded churches; erected our colleges
and schools, and put in possession OF as large
share Of rational freedom and solid comfort, as
has ever fallen 10 the lot Of any people.
Ii, them it is the settled policy Of those who at-
minister The aftiir5 oil inc Oo'cTu!Icnt u iuc
Union, to overturn all our previously well cs-
tablislcd systems of credit, Of finance and trade,
by sinking the whole property and business OPP
crations OF the country TO specie circulation,
why do they not come forward and show their
sincerity, b. the surrender OF porti'n oi thcif
own salaries? Do they suppose that the people
SIT quietly by and acquiesce in seeing their
land reduced to onc-!ourih ri i,s present value,
whilst the provisions of the same law will add
tho vaiuc OF the Salaries OF our public
servants? Thus giving to our President ann".i-
" instead of twenty-five thousand dollars. ttic
amount he now rcccivcs,) one hundred
dollars, and tho other federal officers
down 10 the lowest Postmaster. in the same por
portion. Does not every person sec that under
the prodiyal expenditures now making, few
years appropriations will transfer to the pockets
Of the officers, agents, contractors, ana retain
crs of the General Government the whole spe-
cic capital of the United States. Is it not now
true, that OR federal officers growing rich on
the distrcsscs and cmbarrGssmcnis of those who
support and sustain them! and arc they not ut
This moment receiving ten per cent over ana a.
bovc that paid to State officers, where the law
gives equal compensation!
D1scoNrlxUAHcE OF SUNDAY TRAVELLING IN
learn from an English paper that
1t recent meeting ofcoach proprictoTs from all
parts of England, held in London. it was very !
generally determined, to give up, as far as pos
sibIc, tho travelling Of public coaches on the
Sabbath. This measure was resolv cd upon, prIn- !
:ipally on the gronni that it would be an actual
'arng to TIC proprietors, as there would be neat
the same number OF passengers at present, thu
'prcal over six days instetd Of seven. while m1ny
II tho expenses would be diminished one seventh,
md it would be a great relief TO the horses. Sew
,ral of the proprictors also influenced in
coming to this decision by religious consdera-
ions
All the coaches bctscen Leeds and London,
except the mails) have therefore discontinued
artiny from either end Of their journey on Sun
Law; and it is the same with the Manchester,
logks West of Engll nd coaches, and na,.,y 9TH
rs. The practice promises to bccpg:e general
throughout the country, aud wpL.end materially |
0 advance the cause Of Ess:1iity and rcIigion.,nd
sil give .hc .ads~--.c Of the Sabbath to thou
md .oachmen, guards. Stable keepers. &C.
;,acc-coachcs never travel on Sunday in Scot
and -[Boston Mercantile Journal.
INTERESTING FROM MExIco-By way Of New
Orleans, VIC have highly interesting intelligence
rom Mexico. President BIst:mcnic had been
Induced to change his ministry, and It was feared
hat all the Efforts of the Government would be in
fectual, in preventing, another popular outbreak
r revolution.
The following officers compose the new cabinet.
jose Maria Bocanegra, Minister Of Foreign