Litchfield enquirer., 1837-04-27
From tue '. s. Gazette. OUR COMMERCIAL DIFFICULTIES THEIR CAUSE AND REMEDY,

Mr. Chandler-No great diversity of fopin- ion seems to prevail as to the causes of " these troubles" They are found, and acknowl- edged by all men versed in the political economy of our country, to spring mainly from the action of the general government on the financial concerns of this nation; or rather from the war made on the currency by the Executive Department. Thus hostili- ty is evinced, by the removal of the depos- ties; the destruction of the late Bank of the U. s. as national institution, and the sub- stitution of a host of pet Banks-by the gold bill of l834-the Treasury circular, and pro. scription of Bank notes of small denomina- tions-by the great accumulation of public money, in places where it is unayailing for commercial purposes-the unwise manner adopted for the distribution of the surplus funds among the States-and by the orders for gold, in payment ofthe French indemnity
 There can be no necessity at this time of day, to enter into any illustration of these several measures. Every merchant, and ev- cry banker, knows full we'll how each of them has affected him and his neighbors. He knows that the severe pressure he now feels, and which all feel is owing to them. He knows, that this Jackson war against the cur rency, now prostrate the business of our mer- chants, manufacturers, and mechanics and that It must soon overtake the farmers and laborers ot all classes. He also knows that 1t reaches the money operations of Great Britain, and of every commercial city on the continent of Europe.
 He is further aware, that the whole mone- tary system of the U. States, is seriously en- dangered-that, in the struggle for self pres ervation, our merchants and traders have ex- hausted their financial skill in temporary ex- nphIantS of HraUin nd ro -A Arox xyinor hi11c 0t exchange, foreign and domestic-that at last, in the agony of despair, they have called on the most powerful institutions to adopt the same financiering measures. to slave off a little longer the awful crisiS-and that to this call the Bank of the U. States, and some oth- or banks, have responded by issuing their bonds, for several millions, payable twelve months hence, in London.
 How far these measures will prove effica- cious for the purpose which induced them, it is impossible now to decide. We should hope for the best-but while we hope for the best, we should not be unmindful that our evil hour is not passed, though it may be posi- poned little. We should exercise all the courage necessary for a full investigation, of our condition and prospects; and from the facts which such an investigation will furnish we may learn what should be done for our permanent relief.
 We see with deep regret. that the price of
 cotton is daily diminishing. and that the loss
 es on what has already been shipped to Flu
 rope this year. must be from two to four
 pounds sterling on each bale. Clearly then,
 the coabon crop will not, us heretofore, bring
 us out of our difficulties this year, Ameri.
 can stocks in England, with the exception of
 very few kinds, have become unsaleable
 and the prices of such as can be sold are so lcw' as to afford but little relief. The spe. cle rom Mexico and South America has ceased to aid us. either for our own circula. ton or for our payments in Europe. The
 gold taken from the Bank of England by oul
 banks. and by our government in payment o the French indemnity, has induced that in , stltutlon todiscourage all American facilities that our whole business is there cramned
 and our correspondents generally. in I'm don, have been obliged to give us notice o 1 their withdrawal of our credits, and cf fthei ] being no longer open for our consiea1S 1Scnts