The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1840-07-10
the time comes to express their contempt Of the
Log Cabin llunhug.
For the Shirt Ofihe Are.

To show the entire want of principle in the fed
cral leaders and the phantom-liie course they arc
pursuing, sometimes veerng in their direction and IL
non in the opposite one, us may suit the interests OF
spectators, of whom the party is mostly conpo-
sed, --and intact to show conclusiyely that even
the "Godll!.e" head of that party, is destitute oil
any fixed principle, the follwing is extracted from
speech of Daniel W ehster in the House Of Rep
rescntutves of the United States the I'd of July
rs on the subject of incorporating Bank of the
United States, would now ask the reader to ey-
anime candidIy the ground taken by Mr. w. on
the subject of a metallic currency, and compare ii
with the principles on witch the independent
Treasury Til is sustained by its friends, and say
honestly what is the difference here is none
excepting that when the country after three years
war hid need of Increased facilities Mr. W. OPP
posed ii Mr. Webster in 1915 was il h0rd money
man and continued to be so until he was taken
into the pay and confidence fine u. States Bank,
and he is now, (when 10 cause but the interests
of Spectators demands i) us decidedly in fovor
of an expanded iredeemablc paper currency as he
then WAS of pure metallic one.
Very special cases may perhaps furnish excep-
lions but there is in general security for the cred
it of paper, but the ability of those who omit to
redeem it, Whenever bank notes are not con-
vcrtbc into gold and silver at the will of the hold
En- thy become of less value than gold and silver,
all experiments on the subject have cone to the
same result. Ii is so clear and has been so univer-
sally admitted that it would be waste Of time to
dwell upon it, The depreciation may hot be SCH
sby perceived the first day or the first wce! it
takes place. 1t will first be dcscerncd in what
is called the use of specie, it will not be seen il,
the increased price of all commodities, Tie cir
cuiaiory me iium Of a commercial com@uady musl
'c thai phich is also he circulating meiiam q
otter commercial communities, or must ie cGpa-
lie Of JeiNg c0arertei into that meHaM uuhoai
loss. II must lie allie not Oaiy topJsa in pay-
meais anil receipts among ialiriiuais Of The s1@e
society end action, Jul 10 GyuSt and discharge
tic 6qlaace Of exchanges bcipeea different
nations, IL mast Jc something which has a rai-
ne ajroai as lreii as at hone, and by rhich tar
eiga as weN as domestic dc.ts can lie sOtifCL
TeWeciOus mciais atone caSuer these purposes.
they alone therefore are money and whatever else
is to perform the Office of money must be their
representative and capable Of being turned into
them at will. SO long us bank paper retains their
quality it is substitute for money Invested of
this nothing can give ii that character. no soiidi-
y Of funds, no suciency of Offsets no confidence
in the no soIvcncy of banHins institutions has even
enabled them to keep up their paper 10 the value
Of gold and silver any longer Than they pld gold
and silver for it on demand. This will continue to
be The case SO long as those metals shall continue
To be the standard of value and the general circu.
ullnI medium among nations "