Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1840-02-07

deepest interest IN sOnnu cutIthcv, nhu
who suffers most by mischieyous Legislation
in money matters, is the man who esfns his
daily bread BY his daily toll. A deprecated
currency, sudden changes Of prices, paper
money, falling between morning and noon.
and falling sill lower between noon and
night,--these things constitute the very har-
vest time OF spec ulators, and of the whole
race OF those who are at once idle and GRAFT
" and of that other race, too, the Gaia
OF all times. marked, so as to be known tor
ever BY one stroke OF the historians pen,
men greedy Of other mems property and prod
igai of their o,ea. Capitalists, too, may
oullive such times. They may either prey
on the earnings OF labor, by their cent per
cent, or they may hoard But the laboring
man---whai can he hoard Preying on no.
body, he becomes the prey ofall. His prop
erty is 10 bis hands His reliance, his funds,
his productive freehold, his all, is his labor.
Whether he work on his own small cap.
ita, or on anolher's his living is still earn.
ed by his industry; and when the money
Of the country becomes deprecated and de-
based, whether j, be adulteraied coin or pa
per without credit, that industry is robbed Of
its reward He then abors for country
!
would say 10 every owner Of every quarter
section OF land in the Vest would say to
every man in the East. who follows ms own
plough--and 10 every mechanic, artisan. la
borer, In every city in the county, weuld
say 10 every man. every where, who wishes,
by honest means, 10 gain an honest living
Beware OF wolves in Sleeps clothing"
Whoever attempts. under whatever popular
cry, to shake The stability Of the public cur
rency, bring On distress in money matters,
and drivetheconnlry into paper money, slabs
your interest and your happiness 10 the
heart"
"The herd Of hungry wolves. who live on
other mems earnings, will rejoice in such
slate ofthings. A system which absorbs in
TO their pockets the fruits of other mems in
dustry. is the very system for them. A gov
eminent that produces or counienances IN
certainty, fluctuations. violen, rsings and fall
lings in prices, and finally, paper money, is
a government exactly alter their own heart.
Hence these men ale always for change
They will never let well enough alone. A
condition in public flair in which property
is safe, industry certain ofits own reward,
and every man secure in his own hard earned
gains. is no paradise for them Give them
just the reverse OF this state Of things bring
on change and change after change let il
not be known day what will be the value
Of properly tomorrow let no man be able to
say whether the money in his pockets al
night will be money or worthless rags in the
morning and depress labor till double work
shall earn but half liping--give them this
state ofthings, and you give them the con.
summation Of their earthly bliss"
MIR President, | feel that il becomes me 10
bring TO the present crisis all of intellect, all
ofdilligence. all Of devotion to the public
good. that possess. | act sir in opposition
TO nobody. desire rather 10 follow the Ad-
minislralion, in proper remedy for the pres.
ent distress, than TO lead. have felt so
from The beginning, and have felt so until
the declaration OF yesterday made it certain
hat there is no further measure 10 be propo.
Sed. The expectation is, that the country
will get on under the present state ofthings.
Being myself eniiely of different opinion.
| ind looking for no effectual relief until some
other measure is adopted, shall, neverlhe.
less, be most happy 10 be disappointed "
Looking TO the state Of things actually
existing around US" said Mr.. Webster on
another occasion. looking 10 the great
| number of State Banks already existing, and
TO the vast amount Of paper issued by these
banks--considering that in the very nature
| Of things. this paper mus, be limited aud To-
| cal in its credit and its circulation. | confess
| see nothing butt we'll conducted National
Bank which is likely to afford any guard
against excessive paper issues. or which can
furnish sound and uniform currency 10
every part of the Uniled Slates-This is
not only question OF finance--not only re-
specls the operations Of the Treasury, but
i! rises 10 the character Of high political
question. II respects the currency, the nc.
toal money, the measure Of value OF all
property and all labor in the United States
hardly know any thing less consistent with
our public duty and our high trust. nor any
Thing more likely 10. disturb the harmonious
relations ofthe States. in all Affairs OF bust.
ness and life, than for Congress 10 abandon
all care and control over the Currency. and
to throw the whole money system Of the
country into The hands OF lour and twenty
State Leg slatures"
EXTRACT
| From a speech detirered in The Senate in Feb
ruary, 1884, by Daniel Webster.
Il have already endeavored to warn the
country against rredeemable paper against
bank paper when banks do not pay specie
for their own notes against that miserable
abominable and fraudulent policy, which al