Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-11-03
From tie .sa.r York Courier aas E..0..rer.


or all The oppressive and ruinous doctrines of
the admins traiion none has been more STRONGLY
marked with imposition and fraud than its warfare
upon Bank Credit ana Its ialiacioas advocacy OF
a Metallic Carseucy. In country like France,
where the abour of many millions for long Sc
RES OF centuries has accumulated anl boarded
countless wealth, such carrency may be sustain
cd. Nothing Is more ohs ,ous than tho axiom of
RICARDO that VIII tisoeSer part OF the national
property goes 10 prov ide The medium of exchange
IS wholly imperative with regard 10 production.
1t IS 50 much distracted from the common stock Of
property and eaPitai To pay Tor the signs of value
by which business is transacted. wealthy ma
tten may employ gold aud silver; il can afford the
luxury, II Il be one. 10 count It's game with cNpen
s!Ne markers. But FOR Young and comparatively
poor naton-which is Just cutting down its forests
and Clearing ont It's tieids-tn c,change the pro-
ducts ot as labor III the purchase Of costly me-
dunn OF commerce. can he vindicated max
I'm OF public putcy common sense.
! "The OF paper, instead of go,d"--says Il
distinguished writer Political Economy, Mr..
RICARDO, Substitutes The cheapest IN place OF tha
most exp ensive medium. aud enables the country
without loss to ans individual. ID exchange all
the gold which it before used Tor this purpose, for
raw ma terlals, utensils and food. by the of
which both lis wealth and Its oyments in
creased =
Increase of the quantity of the precious met
ais" says Mr.. MILL, (which dimlnishes the value
of them, gradually dimnshes and tends to destroy
tho power OF exporting other commodities; tho
d,innuton of the quan,i,yo OF the precious metals,
winch Increases their value. increases, by simi-
lar process, the motive to exporta ton cf other
commodities and Of course, in a state of freedom,
the quantity exported
Perhaps there is country in the world which
enl Tvs safer and better CURRENCY than Scotland.
1t is not many months since the Scotch system of
banking the theme of universal eulogy IN
our Tory journals And vet there is no specie in
Scotland Mr. McCULLocn, whom the GioLc con-
slders very high authority in such matters, oh
serves, article III the Edinburgh Review, that
there as hardly single SOW ereign IN the pocket
or lii the Golfers OF any indivld In tins part oil
the empire. (Scotland y and yet II would be rather
difficult to show that this circumstance Intiicts up
on US any material injury. Vo do not know that
the circulation of large quantities Of coin in n
u country as Of any Importance" Mr. ATTwooD
9 made similar Statement, in the English House OF
= Commons. lie said that no guineas had been
seen IN Scotland Tor the las, hundred years. except
&c as wh'st-markers some dowager,s card-table.
~ Thus appears that the conclusions Of the most
> sagacious political economists coincide " it'll the
= common sense OF the people---that tho cheapest,
q most convenient and most desirable currency is
: one Of redcetnah!e paper. But now for some six
. years, the people OF this country have been har
raised and oppressed by the shallow expedients Of
; the administration, for the introduction Of me
taiic currency-or, for VIVA; Mr.. VAN BUREN
: calls the "creatIon OF cono In spite of expert
: encc-in spite of all the suffering and distress
&c which have pervaded the country in the different
= stages and processes Of these eXpcdients and
= perinents--thc Hard Money still clings TO
- US. We are doomed TO go through the same
z of CONFUSION and disaster, SIN spite Of the
. lamentations of the peopie''-as long
u ridden rough-shod bv Tory administration. MIR.
= WOODBURY. IL occupied IN proving that he was
- knave or hlockhoad, four years ago-and that all
10 he then told the People abou. State bank paper
= Yves sham and hurnbug--and that when
> General JACKSON promised Us shelter currency
" in the bills OF the local baIks, he referred gold
end silver the "onlv currency known to the
Q, CONSTITUTIONS And Mr.. VAN buren, is looking
~ to the country with intense solicitudc, to ii
y his specie policy will he endo: sed by the People
= and IT be NAV venture To carry through the most
= iyranncal and oppressive cxaction that was ever
- attempted in free country, the COLLECTION OF A
:. REVENUE OF FIFTY MILLIONS YEAR IN GOLD AND
VI SILVER COIN.
no Bu, Will the Federal Government is prepa-
~ ring this and urgent demand for the
' precious metals, the Albany Regency getting
~ ready the neither millsonc-and between the two
lis the People will be crushed.-GoveEnor MARCY
ne and the Regency are hostile to the Small Bill
. Circulation because such hostility is necessary
an conntenance the miserable humbuggery of the
''s Kitchen Cabinet. The Loco Foco leaders have
o' all entered into this hostility; and If a Loco Foco
y" Legislature or Governor should be elected by the
ga People of this State shall soon be wretch
-. edy situated as We were but twelvemonth since
" IN reference 10 our every day currency. The ad
d. dress of the Tory Convention which nominated
ny Governor MARCY for reelection, makes strong
point OF Its hostility to small bilis and exuts III
re- the fact that the Loco Foco party in this State
to g.. - -, nr,.-vn ,.,r,, rup CrSpp.r Anw,x,.
he TRATIoN EXPORTS TO SUPPLIES THE cIRcULA
lce TroS OF BILLS UNDER THE DISSEMINATION OF FIvl
III DOLLARS"
afs And wheroforeg The people Of New York ars
re- now enjoying. through the grace Of the Regency
l. and for a limited period, convenient, sound AMI
e. o;~c,la,,o, IN The s,u-u t;il. RI ,,e;. RVS,
es- banks. They know where the bills come from
&c. and know tina: they procure the specie 70
u them demand. They suffer nothing from de
NJ probation, discount counterfeits. They tax.
and pass them without question or difficulty
~ The laborer who receives his weeks wages IL
'y' these bills. knows that they will procure him wha
!" he wants, and that he can realize for them on'
' hundred cents the dollar, in food, IN clothing
IN if he desire it, in silver. There Is no com
the 80 a,o,,,h - r. ,aog !, ALI respec,. A III
and LII 81 - ,t;ch ,hex renresenf and nroy,d
ent > e.. . ..,, % ,,.ef,,I and cf,oy en,enf tha