Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1839-12-19

And this was accomplished by common VI
GENERAL currencv, not Of gold and silver LOT IL
,vos conceded on all hands that these were IN
sufficient for the uses Of our growing country
andy unfolding its vast natural resources
hnt Of sound papsr, issued BY national corpo
ro,;on ycOu1atjng others established on SOund
,rjucjpIcs 5vhe States, ami, in turn, itself regn'
iaied and strictly guarded by an honest National
Government. This institution was destroyed
by that which now calls itself the democralIcl
party;a hue and cry was raised against all
banks; against the system; against all corpora
lions: against the use Of credit to aid those
who had not capital Of their own; in short
against all those things which had enabled our
Young country to reach the height OF prospect
~ from which i, is now to decline. With the
destruction of the bank the general currency waS
DESTROYED also. Remittances could no longer
lie made from distant parts OF the country j
own some lots in the town oil Tallahassee,
which could not sell because the exchange
was twenty five per cent. against Mat place
And what countless millions have been paid by
others as a tax in this oppressive form! Mer
chants in the South and West could not pay
their debts, and could not procure funds TO lay
lin fresh supplies Of goods. Every petty deal
er was obliged to keep volume on his counter
TO turn IN order to ascertain the value oil each
note he received For the last tour years our
internal trade has become more and more OBJ
struced, from the destruction of the currency
and can any man possessing spark OF truth
or candor deny that these things are the Immc
|diate effects of the interference OF the Federal
Administration at Washington, which now re-
ceves such abject and unbIushlng support from
the msnamed democratic party! Is not The
golden and silver humbug the consummallon
10 which all their measures are directed! The
farmers not very deeply in debt may get along;
they may get specie enough to pay their taxes
and buy few store goods, and may dispose OF
some produce in the way OF barter II will be
glorious times for those who have ground
rents, or salaries or fixed incomes, or tor cred
itorS or moneyed men; but what will DC the
situation of those who have no lands, the me
chanic and the Iaborer, who compose SD VaIua-
| BILE and important part Of society? win the
want Of money and capital, there Will he a
check to every kind of business and pursuit
Whatever other causes may exist, and mSlor-
tunes seldom come alone, the great and para
mount cause OF our present and tnture dllfcu.-
tiles, is, and will be, the want Ola sound curren
lcy, and the want OF the use oil that surplus cap
Hat which will now seek investments IN triple
mortgages and double bonds, but which has
hitherto been administered by the banks so
much more benehcalIy to the public; which
H has hitherto circulated like healthy blood IN
the human body | take it for granted that
the whole banking system must go down, or
rather it has already been so harrassed and
crippled that its capacity for extensive useful
ness is gone.
1t is in vain to try by dccoy tricks TO draw
away public attention from the plain, the real
causes -four suferings, by bringing forward a
thousand imaginary conlecturaI causes. 1t is
in vain to tell Us that the present cmbarrass
lments OF the banks is occasloned by the drain
Of specie to England. 1t is but few months
since the rate OF exchange became such as 10
render its expectation from this country ne
cessary; but the destruction oil our national
currency, the prostrallon OF credit and comb
dence, by the unnatural war OF the Federal
Administration upon our best interests, deprIv-
ed us OF all power and means to Withstand
such a crisis If we had wise, paernal and
honest government, and q general confidence
in the security Of aggregate capital, the cur
rent ofspecie would have flowed across the At
Iantc unnoticed; and in due time would have
returned, without producing any interruption
10 our domestic trade and Intercourse. But the
Cxistence Of a national bank would have re.
pressed the extreme excess OF speculation, the
multiplication oil local banks, their Immense
issues Of paper, uncalled for by the wants OF
the country, which in addition to the destruc-
ton OF the general currency, have contributed
to bring about the present state Of things
The destruction Of the national currency may
therefore be set down as the great cause, the
cauSd cauSanS of all the other causes. The
rigamarole about the sums expended in inter.
nal Improvements, and other INVESTIGATIONS,
will satisfy no man Of common sense, who is
not chained down to the most british oil all
slavery, the slavery to party. Great public
'corkS for The purpose Of facilitating trade and
trdreL neUer get ruined any nation. They pay
for themselves as soon as they are made. No;
the true cause Of nations destruction, apart
from the manifest visitation Of Providence, is
the tyranny anil corruption Of rulers. We are
not suffering from the effect of plaques, earth.
quakes, and desOIated fields. We are blessed
OF God, but cursed Of man. Talk not of the
present distresses Of England; these are but a
few weeks old, while ours have been sweeping
over us, increasing in intensity, for several
years. AT the period Of our last "revusion,' -
TO use the phrase OF Van Buren,, England was
in the very hey-dey Of her prosperity, and was
seeking investments for her surplus capital
every where. So far from the recent failure
oil her crops being an injury to US, we look for
ward to it as holding out hope of some par,
lial relief. England, or her "revuIsions," with.
in The last few months, repeat, had nothing