Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1837-08-21
PHILADELPHIA CONVENTION.

PHILADELPHIA CONVENTION.
The "Convention OF business Men" OF all
political parties, who were called together
10 consider the state Of the times and de-
wise remedies for existing embarrassments,
met at Philadelphia on The 2nd inst. Hon.
" illiam Hasley, Of N. j.. was chosen Pre-
sdent-James Brewster Of Connecticut,
and Philip Raymond Of Delaware, Vice
Presidents--an Daniel McKeim of Penn
sylvania, and II. M. Stratton, of New Y,
Secretaries. The Convention was respec-
table in point OF numbers--lhough far from
being large one. Most OF the proceedings
were adopted unanimously. The scheme
ola Treasury Bank, which it is supposed
will be recommended TO Congress at its
approaching session, was decidedly con-
denned. Among The causes Of the ruiaous
results in WHICH the business of the coun-
try is involved, are namcd-tE" withdrawal
of large amount OF money, collected for
the public use from its ordinary business
channels, and the consequent interruption
of the USUAL faculties Tor the fulfilling OF
commercial engagements distribution
of the surplus revenue at points remote
from places of its collection the extensive
issues Of bank paper and the consequent a.
busc Of bank creCit--eXlensiye speculatipus
in lots, land, SLc.-ihe great excess OF i'm
porlatons above our exports, in this way
contracting large foreign Jebts-idleness,
luxury and extravaganza the assailing Of
banks and similar Institutions under the in
nuence OF party prejudlces, Sc.
IT was then resolved, that gold and silver
constitute the only constitutional standard
Tor the exchangatle value Of property--and
that the issuing OF Bank paper which is not
redeemable with those metals, subversive Of
the best interest OF the community; while
well regulated system of bank credit is es-
sentiaIly necessary, and constitutes one Of
the peculiar characteristics OF Il free people.
The abolition of the credit system upon i'm
port dut les is recommended, inasmuch as
it has tendency To encourage extensive
importations and to produce ruinplis huc-
tualons in every branch OF business. As
The importdtions Of silks into this country
during the last year amounted To more than
twcnty-three millions OF dollars, its culture is
recommended These resolutions embrace
all the important topics upon which the
convention expressed any opiniop --.Nc,c
Haren Palladium.
Resolved, the avails Of the public lands,
a fcr making suitable appropriations for ed
ucation and improvements in the states
where they are situated, ought TO be appIi-
ed to the promotion OF objects Of a public
character in the several states according 10
some just ratio.
Resolved, That the time has arrived
when 1t i. The important duty of the Con-
rress Of the United States 10 exercise their
constitutional power OF establishing uni
form system OF bapkrutcy throughout the u
niied States.
Resolved, That the citizens Of the Uni
ted States are united in one common inter-
est, and the various classes ard professions
are mutually dependant upon each other
and that any cffnrt TO excite one class a.
gainst another, or 10 divide society into fac
iiGns, would be subversivc of the funda-
mental principles of society, and tend to
destroy the happiness OF all.
Resolved, That in the conflicts Of mere
parliZahS conlendiDg for the triuG!phs 81
party success, and subjecting every public
I measure 10 the supervision OF party disei-
pips, we discover principles snbvcrsive OF
personal independence, and ruinous 10 The
best interests OF the country.
Resolved, That the substantial 5lcs-
sings which bountilul Providence is now
showering upon the fields Of our agricultur-
a! brethrea, warn us, as it were in the ST.
lent and eloquent lane uaqe Of inspiration,
10 leave the deIusive maze Of specula tion
with which all branches Of trade have been
mixed up, and return 10 the practice OF in
duslry and economy, and 10 the enjoyment
Of their solid rewards.