Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-05-08

yous system of the people. Nothing disheartened, now
ever, we fnd the Opposition gentlemen now bravery en-.
gagged at the fabrication of another. The SUD iieasuty
bill panic is now the order Of the day and the totai de,
struction of all banks-the total destruction OF on eleui'
the sudden erection of a Treasury bank upon ~ tuns
Of all others-the exclusive imposition OF treasury Dan"
paper money currency upon the people, aho' d .s '""'
time, the exclusive imposition also OF a nara mo"ty ~
rency upon them these are the raw-headsa anu: oioouy-
bones which are now paraded before the e{esoi ~ pn'.
pie. A certain speech delivered on inns h"ol' u wv.
page of which will claim a prominent pace III 'ne ~
emission Of coffin handbills, is the congerles OF '"ese
now borrors-col!ected, compounded. and congiomefalea
into one huge and f%rish,ful mass. WIN Inc aehVe'y OF
,h,, s,eech went forth the authoritative mandate Tor The
new panic; but in vain. The people are tired OF oelng
scared. They refuse TO take irlSht any more: nm las .
a summers morning, they read with indiference Inc
nrooramme for the alarm, and view with contempt Tie
mafshallinr of the procession OF the hobgo0lins, phan'
toms. and spec,res which are pull IN requ'sit,on LOT 'e
ensuing elections. The country IS quiet. but oehoiu
The svmn,oms of panic in another quarter! The panic
makers themselves are beginning to take fright! Inc
tenth dov of May approaches; aud with it the elevation
of that RESUMPTION FLAG which will cheer the
homes of all Republicans, and impress with terror the
ra;n,ing hearts of the broken bank and shInplasler party.
Thus we have gone on ever since the appearance Of
Gen. Jackson on the political stage, and the coihciueht
revival of the old political parties of l79o. Terror Is 'he
chosen agent Of action upon the public mlnd noio as IL
was Mea but with this grea, difference, that the pnan'
TOMS then brought forward to frighlen the people into
measures, were solely directed 10 The nervous sytem, and
never combined with any attack upon the business ope.
ra,ions of The country. People were then to be frightened
out of heir votes, but not deprived OF work and labor, or
rnined in their trade and occupation Now the assault
is double-i, is both upon The nerves Of the man, and
upon his bread. The famous Queen Elizabeth, in stop
ping the income of The refractory Earl of Essex said,
an uneorcrnaJIe beast must DC dtprired Of his prorendcr.
So of the present Opposition tactics in our own coun-
try. Stop his bread-makc him %feel-turn him out to
Craze; this is the language Of the day. An immense
moneyed institution, able to create the distress which it
~rore,eils, has brought this Queen ElzaJth ingredient into
the composition of modern Federal panics; and now
every successive attempt at alarm is accompanied ny an
attack on the business Of the country cn.exlensive with
the power, and the ramifcaliun of the power, oil The
Bank of the United States. Lnborrrs disInissed-work
stopped factories closed wages reduccd-bread and
fuel mouopolised, and the price augmented-oan &C
comnodation withheld from small dealers and hard
workers, and profuscly granted TO capitalists, shavers,
and speculators-sPscie payments snsPendeu-eAchah,
ges deranged-actual distress created by every act OF
oppression AID aggravated by every ART oil e1aggeration
distress meetings - distress orations- distress commit.
tees and the whole charged by It's own authors on The
Republican Administrations; such is the infusion OF de-
noniac ingredients which bank vengeance has superad.
dsd TO Federal Panics, and by which the elections are
to be governed, and the people scourged into submls
sion 10 Federal aud Bank domination.
IL is now about six years since these attacks have been
going on. They commenced with The famous veto ses
sion Of lS32-the marble palace in Chestnut street, Phi.
ladelphia, being the source from which they emanale-
l ne SuItI " iIGl 'OISS AhS u ce''t 10 ~
fpcled and injured; the farther of, the less. Thus, the
South and West are less injured than the Northeasi;-
and, in some particulars, The South and Wcstar gaining
under the effect of these attacks on business, while the
States and cities North Of the Potomac are losing. Tits
time for rejecting men 10 consider the consequences Of
this unnatural warfare upon the business of the country.
1t is time for them 10 ask themselves what It's effects
must he on the population, the manufactures, and The
commerce Of the Northeast, and on the banks them
selves, which either become the criminal agents, or the
unfortunate victims OF this diaboiical policy. History in.
forms US, tina, the revocation Of the cdict of Nantes, de.
prived France in three years, Of 300 600 souls, who car.
ried 10 foreign States the arts and manufactures Of their
own native country. History also informs US, thai the
tyranny of the Flemish manufacturing corporations
Transferred The wooIlen manufacture from Flanders TO
England. Already an effect similar tn that Of the re.
vocation of the edict Of Nantes on France, and Of the
tyranny Of the Flemish corporations on Flanders, is
beginning 10 he visible in the effects Of this war upon
the business of the country in the Northeast. Great is
the number of respectable and useful artisans and labor.
ers-great the number Of en,erprlSing young men-nu.
merous the heads OF families, with their sons and
daughters, and promising train Of young children,
which have already bid adieu TO the troubled scenes Of
the Northeast, and sought repose and Independence in
the rich and tranquil regions Of the far West. Never
was the emigration 10 the West so great. The roads,
rivers and canals-all The Western communications
are filled with moving masses, pressing into the great
Valley Of The Mississippi. "Hcstndrd The star IF empire
holds its course" A continuation OF the causes OF this
must augment the emigration itself and
in n few years the effects must be felt on the popula.
ton and manufactures Of the Northeast. To the
banks themselves, whether the agents or the victims
of this unnatural warfare, a continuance OF such
conduct mus, be fatal. Political associations for any
purpose, and with any party, mus, be dangerous to bank
ing institutions; but an association with that party
whose connection has been fatal 10 two National Banks,
and to every thing else that it ever touched, and an as.
ISOLATION to govern elections by breaking up the bust
ness of the co~untry-such an association, must. be fatal
indeed, not merely to the ~culpable banks engaged in
the work, but to many innocent ones which avoid their
policy. To The great importing cities, and especially to
New York, n continuance Of this course, with n rcpeti-
ton of bank suspensions, arrangement OF exchanges,
and interruption of credit, must be highly deleterIous.
The early loss Of the Southern and Western trade may
be the penalty of such conduct. Habit, and adven.
1i,ious circumstances, now carry the Southern and
Western merchants to the Northeast 10 purchase goods;
and to purchase them at all the disadvantages Of Il
second hand sale, loaded with the costs, charges, pro
fits and losses of an Intermediate sale. Direct pur.
chuses in Europe are as easy for the South and West
as this second hand operation, and far cheaper
They have the capitalize real capital--lu their
hundred millions of annual Pxportable productions
They sell at hnrd money prices IN Europe. and purchase
at Taper money prices in the U. States. The paper sys.
TEN, always hard upon the exporting States, becomes
ruinous to them in its arrangements. The South and
West have only 10 begin direct Importations, and the
natural channels will vindicate their own rights forever
afterwards. Venice, Genoa, Alexandria,, Cairo, once
entire pots of Asiatic and European commerce., had as
well look for a restoration Of that commerce after The
Cape Of Good Hope had been doubled, as that n. York,
Philadelphia, or Baltimore, shall look for a continuation
OF Southern and Western Trade, when once the Liver.
pool and Havre markets shall be in direct communica-
ton with New Orleans and Charleston.
Mr.. President, ! have said but litlle~-comparatively
little-on the merits Of the bill before you. because |
know, as | have already said, that the merit or dement,
of the bill, is not the question before US. II asdS the
question which we presented; il is not the question which
gentlemen of the Opposition have discussed. They bring
forward another question-one of party, of political
power. of restoration Of themselves to power. They fly
TO all the topics Of party warfare; they arm themselves
from the magazine of party politics; and the Presiden.
,iaI election Of 1910 is the object in view. The struggle
is for The recovery Of a lost charter, and restoration to
los, power. The party which got into power, without
the consent of the people, in lo25, and which has since
been evic,ed from power by The voice of the people
1870 Al its side is its well beloved cousin and ally, the
ll- Al -