Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1838-09-06

bank. I'd, the State banks; Sd. all credit-and 4th,
to take much specie as possible out of the hands
of the people. Let us for moment enquire, what
would be the natural resuts' The larger part of the
circulating medium, for years, has been bank paper.
If this were to cease, the amount of circulation
would be reduced accordingly and the prices of la
Dor, and other things would fall in proportion Most
ofihe business of the country has been transactedf
on credit If this ceases, the business founded upon
ii must also cease, and with it the demand for the
labor materials ard provisions necessary to carry it
on. The dminution of specie, by the boarding
Of government, must occasion further dimnution
of all kinds ofbusness, with its necessary results.
These projects have been partially carried into eff
feet. The U s. Pank has been destroyed. The
State banks have become parazed, and some of
them been also destroyed. Public confidence has
been impaired and all credit seriously checked The
The result has been that business men have boen
injured and nearly half of them ruined The me-
chanic and aboring men deprived more or less of
employ. Farmers also (alihough a scarcity of pro-
visions FOR while prevented their feeling it) have
found the market for their surp produce depressed!
Iut these evils have moi been of long continuance
7 he people early began TO them and guard
against them. Their representatives have twice re-
fused to rafy the schemes Of the administration by
passing their snb-treasury bill; and their i-mness
has in some degree restored confidence and credit,
and has at all events thus far defeated the compile
ton of their projects.
Still the party have not given over their schemes,
and it is the part ofthe people to say whether
they viii aid them, or take measures 10 prevent
them. Every cand date nominated by the Ioco TO-
CO falsely called democrac) party is in fvo- of
the sub treasury, and all the othe- projects Shall
we by supporting them reduce the wages Of the Ia
borer TO 25 cenisa day, and of the mechanic to two
and sxpence' Shall we reduce all the laboring
classes to worse condition than the oppressed and
hafstarved lahorcrs of Europe, while the salaries
of our rulers will by the same measures be trebled
in value
The opposition of The Van buren, members Of
Congress to the American System as expressed in
their late address, seems to its origin to the
same disposition to depress American industry
Were there no duties tn prevent, the predictions of
the manufacturer. the tanner, The shoemaker, the
halter the blacksmith Sc, well of the farmer.
would be brought into free competition with those
i of the same half paid classes of the old world.
| Setting aside then, all danger TO liberty, that may
arise from giving the government in addition TO the
patronage Of their 100 900 Offices and agencies the
control of the moned concerns Of the country, by
means of their snb-trensurv, the circulation
ney of their orders npon it, ard their treasury notes
setting aside also the inca'cnlnbe evils Of poverty
TO the laboring c'asses-andi1 there no danger TO
liberties to be apprnhended from their becoming
rcdnced' o. iha ligencr, n,egrity ard indepen-
dence Of these classes depend the free institutions of
our country. Let them be degraded and the ma lor
! ty oftltc people become unG for SET government
Let Us then pause, and be Uery sure we are right.
before give further power to the present graspng
government. Power is safe in the hands of the peo-
p'e--afd there only. Let us beware then how we
bestow it where it may not be again easily recov-
| cred