Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1839-11-19
p OIL TIC AL.
From the Albany Daily Advertiser,
A TRUE BILL.

IKU T. BILL.
A correspondent OF the n Y American has con.
densed into small space the results of tho expert
mcnts Of the last years. When our currency link
first set about their blessed business, there was
no country the face Of the globe that could boast
OF a better currency than the United States-The
lapse OF eight years has brought the end Of their
experiments and prosperity. This proud coun-
try now reels beneath the blows which have been
dealt by wicked aud inibetile rulers.Credit blast
ed, currency destroyed enterprise Frustrated and
dustry paralized, the fruits OF the present sc ,son
The party have sown their wild oats, and the poo
pie are reaping the harvest. Since Gen. Jackson,
IN 1897, left this great people prosperous and hap
py, THE GOVERNMENT HAS BROKEN ONCE THE BANKS
TWICE, AND THE BETTER CURRENCY WHICH WE WE'RE
PROMISED SEEMS MORE REMOTE THAN EVER.
F:om the N Y. American.
my humble efforts to restore the constitutional
currency
Il leave my people prosperous and happy
1t is now 10 years since that uslrious and saga
cious man, Andrew Jackson, com nence ] his intel
ligent and well directed efforts to reform and i'm
prove our currency The success and pro perity of
his measures are before the country, and as his
cessor is pledged to follow in his footsteps, may be
excused for recalling to the minds of the public some
of the prominent acts though which he has endeav
ored and succeeded in restoring us TO the situation
of the country at the adoption Of the Constitution
viz could not travel fifty miles without going
beyond the credit of his money.
In Sept, 1888, the Secretary Of the Treasury (Mr
Duane) and the deposites removed together he
from his place. and the depostes from theirs and the
latter put into State Banks, by ple1gng themselves
supply the place of the Bank and keep the curren
| y in wholesome condition. We all know the out
cry raised throughout the country and that Congress
| avoided either approving or condemning it, leaving
all the monied power in the hands of the President,
who pledged himself to supply US with better cur
rency.
A very extensive bankruptcy took place ,hroou,
the mercantile community great doubts were express
sed of the sovency of our Stale institutions and 4
rapid change took place against the Administration
| in the public mind, TO divert which, through foreign
influence, bill was brought into Congress TO reduce
the value of gold in the eagle, which was pas sed
immense amounts were coined, every retsi er OF the
Administration was furnished with them, and the
people were told that they were to have nothing but
yellow bows and taught shout 'huzza for Jack
son down with the banks"
In this warfare many Bank Presidents, Direc ors,
and Cashiers were engaged-now foreseeing that
the storm they raising would ultimately over
whelm them.
To fill up the void about 10 be occasioned by the
withdrawal OF much capital, applications were
made to the State Legislatures for bank charters !;
and in this State, every patriot who wanted an office
/ for services rendered the Democratic party, was
paid in the profits arising from Bank charters
| The Bank of the U. States, whose charter expired
in 1886, applied in the winter OF 35-36 TO the loco
foco Legislature of Pennsylvania, and succeeded IN
getting charter from the State. The G!rard Bank
was believe, ere ated about the time, the L..
:. Bank ceased It's functions as u. States ins,i-
tuition and became that OF State.
In August, 80, Gen Jackson issued his Specie
circular against receiving any thing but specie for
public lands and the Government official common
ced its lectures on oyertading, doing all ii could,
while credit was extended, TO Destroy it.
In FEBRUARY, 81, the Loco Focos ofthe city Of New
York, he AIDED by an officer Of the Customs, met IN
the Park with the banners, down with the rags,
give us gold and silver, &c, and after address
from this officer, proceeded broke open several
-four stores.
In May, 81, the Banks Of this city slspen led
specie payments, which followed by all tie bks
OF the country In July, Gen. Jackson wrote hi.
letter denouncine them fraudulent Institutions
forgetting how much character some Of his friends
in them had lost on his account.
Prior 10 this Mr. Van Buren, had refused TO cal
T Congress together, denying that there was any ne
tessiiy for 50 doing but the moment that the sala
ries OF the office holders were affected he saw the
necessity Of calling il together. and laid before At hi'
famous bill for the protection Of oce-ioders sala
RES or the separation Of the government from The
people
Ia May, IS; the banks in this city re-oommeneee
specie PAYMENTS which was followed, after s'lor
time throughout the country and there seemed pros
, pect of some li,ile prosperity 20 the country.
Ia the early pan Of the year, Mr. Benton who hs'
suffered oy bank notes commenced has war-cry o
specie gold, &c. Mr. Van Buren,, the moment hi
Dot his foot on the shores OF hs native State. beRaI
D The old song Of irresponsible insiiiUiiOns lh'
New Era and all OF that kidney. reoOmme nded tia
they should be nm upon, and general disirus VA
Z caused.
This month the Bank, Of Peasylvsnia have SOP
ped, and no doubt the southern and souih-Sesier