Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1838-05-03

necessary to keep up free circulation OF
money. The moment you permi, bank notes
to expel the specie from circulation, the cur
rency Will become rotten and deranyed. as il
now is. Ought cot the great labouring clas.
ses then, 10 insist upon such circulation of
specie as would accommodate their exchan>
ges! Yes sir. they ought. And Il the mer.
| chant will take an expanded and liberal view
| OF his own interest, he too will insist upon
| such circulation. He will see that al last
| all the subjects Of commerce come from the
labouring community, and that whatever al
| fects them injuriously. must, in the end, be
an injury to the mercantile class. The pro.
ductive industry ought by all meas 10 be
protected from the effects produced by com
| mercial and bank explosions. The human
| mind is Too often involved in mIschie vous er>
ror 10y confning its views 10 circumstances
which Immediately surround il, without
| looking forward into the future to see how
they are connected in the chain of cause and
| effect, with coming events. And thus with
all defeTence say il, The honest merchant is
blind TO his own true interest and that of his
| country when he subjects the productive la.
| eour o: the country TO any standard of mea.
surement that may be made longer or shorter
to- suit Temporary exigencies. Let gold and
silver be the standard for the products OF in>
dustry, and whatever may be the difficulties
OF commerce, the :rue substance of the coun>
try will suffer but little. Let the credit sys
tenn, with all IFS banking appendsges & liza
bIlIty 10 fluctuations tie connected alone nth
merchants, spectators. land men whose for.
tunes are so large that they must of neccssi.
ty exis, in part, in credit, and things will 20
| we'll with US. Go into any neighborhood YOU
please, where the people have gone upon the
principle pay as you go" and you will find
| them happy and prosperous. Go into anoth-
er neighsourheod where ''psor Dicks Al
manac" was never read, and the precep,s of
| the great Franklin have been disregarded-
where the farmer has abandoned his fields.
Inc mechanic his shop, in the hope of speedi-
iy acquiring wealth, and very different pic
lure will present itself TO your view. Instead
OF prosperity and happiness. you will find un.
easiness, misery, poverty. Perhaps one out
OF four or five hundred may have succeeded
IN bis speculations, and grown rich but the
misery OF those around him is only increased
oy The reflection that their own fully has out
him IN possession of what perseverance in
patient and honest course of industry would
have retained TO their use, and have secured
Them from want and the visits OF the sheriff.
lam sensible that difficulties. and some
hardsbips, must be felt in putting the Sub
treasury plan into operation. But wha,
change was ever made in the financial sys>
tenn oil any country that was not, however adj.
vantageous ii may have turned out TO be in
The end, attended with difficulties and hard.
sh'Ps! The hardships which may fall upon
The debtor class OF society, IS the only source
OF uneasiness to ne. In drafting the bill
the utmost tenderness has been shown TO
them. IL proposes to effect publication OF
the currency by very slow and gradual
process-giving time TO every debtor, whose
case Is not hopeless, to disenthral himself.
ihe SICK man, that he may regain his. health,
Is under Tie necessity OF submitting to the
operation OF nauseating drugs. We, as
community must submit 10 such remedies az
promise restoration OF health, or we must
permit The disease 10 run on until The whole
BODY becomes mass of corruption and q new
order OF things springs up Out of the ruins OF
the old
Various objections have been made 10 the
plan Among others, i, is said it will give
TO the people enc currency, and to the Cow
ernmen. another. No idea more untrue or
deceptive, ever entered into my mind. Tha,
1t may be at all Ineligible, you must sup
pose the government to be one thing, and
the people another. Now, sir, separate the
government from the people, and what is il.
Why il is nothing but an abstraction. Ii
has no existence but in idea-and as such
what use could it make of one currency or
another ?-The people and their government
are Inseparable. They are one and the anne
IN interest, in prosperity and adversely. How
then can II be said that that which will ad-
vance the prosperity of the government will
moi equally promote the welfare Of the peo.
pie! The government, if the Sub Treasu-
ry system were in full operation, would, on
the one hand, collect all its debts in gold and
SILVER, and, on The ether, would pay all debts
due from it, in gold and silver, the effect of
which operation would be to produce to the
extent of the monies thus collected and dis
bursed, specie circulation. How W ill gen.
llemen confiue this circulation to the govern
ment, when such confinement would make
il cease to be circulation?--The money dis.
bursed by the government mus, 20 ali over
the coun,ry.--lt goes TO the soldiers OF the
United States, wherever stationed, and so 10
all belonging to tbeNavy. 1t spreads through
the interior o! the country to be exchanged
for beef, pork, flour, &c. TO subsisi The army
and navy. and, in word, not a dollar is in
tended 10 lie idle in the Treasury. ftisever
10 be on the figbt--passing through the
Treasury, and through the hands OF thou.
sands OF our citizens subscribing the purposes
OF trade, until j, comes back TO the starting
point, from which, without resting, il begins
the same ceaseless round. This 10 one cur
rency Tor the people and another for the 90,
verDmeDt-is it /? Our dulIest people have
too much sense 10 be bamboozled by so shall.
low conception.
Some people think bank note good Jus,
nj a n