Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1840-03-05
From the New York Express.
TO THE MODERATOR or THE
DOWNINGVILLE CONVENTION
PHILADELPHIA, 2lst Feb. 1910

here than il takes to call the ayes and noes
in Congress; and though The road runs
across New Jarsy, you go SO quick, and find
yourself so soon in old Pensylvany, that .Noo
Jarsy don't seem nothing al all. Now, in old
times when il took two or three days 10 cross
lha. State, and Congressman GO, some upsets
and broken heads, going and coming, they
had some reason to remember there ,cas stch
a !Staie-but now since New Jarsy has built
good rail roads, they slip over it SO quickly
they don't seem to know there is sch State;
and that may account for net letting il have
any representatives in Congress.
II Well, here be, safe and sound, in Plia-
delphy; in the City and State where folks
don't pay in hard currency-but according TO
our notion North and Down Esst-aH broken
io,rn, and bankrupt; and shut up; but sup
pose you wouldn't believe unless told you,
hat every thing looks as spruce and spry as
ever see things, and plagy deal more 30
Il than New York. and Boston, and other places
Il past tbro'; and the watchmcn all standing
at night about the Banks, and guarding the
houses and streets ilst as though the folks
/ paid specie, and coudnt't see any difference;
and in the day time washing and scrubbng
Il the sidewalks, with I" the surplus Of pure and
huisom waier." instead of banking on IL, az
some folks do in New York; and old and
young, aud wet and dry, Quakers and all, rum
ming about and any man who didn't know
they were all Bankrupt, would suppose they
had jst as much hard currency in their pock-
cts as they ever had.
H In the good old times afore the "rcmoval
of the deposits" there was only two men in
| Pbadelphy took good care to stand well
with, and they were Squire Bddle and "Ihe
| Hud' Of "The Mansion House." For, ac-
cording TO my notion. good banking was only
equal'd by good eating. So this tine as
| wanted q dinner more than did discount,
pushed first for The Head" and there found
him, if any thing leete thicker in the rib
than ever. "Wel," says ], Mr.. Head, how
goes it Z" Says |, have you got any thing
in this bank'7pt city," fit to eat by man
rom the "hard curemcy cvunt'y?" And with
Il that jngled the two pieces Of gold always
keep in my pocket to flourish with. And SO
we had little chat together, but didn't see
that he troubled himself much about the mat.
Ter, and we walked in to dinner, and didn't
see any change there neither. Conmodores
and Generals and merchants aud politicians
all eating and talking; some abusing tho
hard times is'rhere, but all eating the good
II things there and when ] come TO pay the
bill no change there mother. Well, thinks !,
H iils rs the strangest thing IN creation. All
bankrupt, and yet oil fat; all busy, and yet
all broken. Says l., Mr. Head, do you know
/ that you are ruinated man ?" No." says
he, IL don't" "You DON'T" saysT WELL"
says "you be, and here is no mistake about
it," Says I-"you Banks don't pay specie"
I"WelI," says he, "nor mother unless folks
H pay il to me, and if they did I'D pay il out in
preference to bills of good honest banks, for
can keep the balance in such paper in my
pocket easier then in specie" With that he
| 1t his cigar, and see clear enuff that il was
| no easy job 10 convince him that he was
ruined man. Well, thinks ], I'll jist take q
run round, and see my old friend Squire Bid
de guess he is pretty well convinced by
this time that has State and City (about which
he used to tell me that they had power, it
they knew how to use IT, to pay off the debts
Of oil creailon) and are now good for nothing,
seeing they don't pay specie. And there
found him. busy as ever, cyfering and foot
ing up matters and things about Coal and
Iron and other Matters and we had long
chat together. Among other things-when
| pushed him about old Pcnsivnny being
broke IN the way Of paying gold ond silver
he said, ayes, Mnjor, The Banks have paid
away considerable Of the gold and silver they
had, and stop paying any more because the
| folks who ewed the Banks had no more Of
that metal to pay their debts to the Banks,
and the Banks instead of making the folks
who owe them suffer, sacrifice and iail--tool
the responsibility thcmselves-and the
Banks take the kicks which would be given
10 the people" "Now suppose" says he,
" that you had big farm, or big factory, or
big mine, or big ship and the folks you
employee in these operations owed you, and
you owed other folks, and the folks you owed
called on you to pay up in specie, and you
couldn't pay all you owed IN specie, unless
;he folks you employed, as aforesaid, and
/ who owed you could pay you in specie, and
they said they couldn't unless by sacrificing
all they had, and let their wives and children
siarve-what would you say and do?"
H "Why," says ], I'D tell folks owed to
wait spell and not press But says he,
suppose they would not wait, and said they
must have the gold and siirer and nothing
else.' well them says !; If | could not
pay them without crushing and squeezing,
the folks who owed me, aud making beggars
of EN- and distressing their wives and chill.
drcn-l'd say TO the folks owed, and who
insisted on gold and silver now, my boys,
lhereis got to be failure or n suspension to
pay in gold or silver, and rather than crush
my industrious people TO pay ME, III suspend
aud you may tell all creation that Major
Dotcning has suspended specie payments.-
But says ], Squire, don't see yet any ex.
cuse why your Banks don't pay specie p
You don't?' says he 'why, it is because tha
Banks are just in the position, and arc asked
TO do, and do what you jist said you'd do.'--
%, ho" says !, Il see i, now,' aud must con-
fess felt considerably junbled, for the crit
lur caught me as snug in the trap set for
him, as expected TO catch him. But them
says ], 'your Banks are broke % yes says
he, 'as to that they are broke, but the p,opie
amt, and that is just the difference. There
is no difficulty says he, 'NUor, for men hav-
ing the power, TO save themselves by break
ing the people--but it is a victory that don't
asst long-the people seeing j, and feeling
1t. soon turn the tables, and that is just Ihe
bad boI? the President ond Goyernmen, are
now in-they have preferred saving them
selves and breaking The people, and now the
peoples turn comes, and then they will break
hose who broke them and then he turned
to and showed me what he was busy at, which
was. that Pensilvony hid coal and iron almost
enuf to gather rll the gold and silver she ever
wanted. Talking Of breaking'-says he,
Major, old Pensilyany is jist the State to DO