, 1840-08-08
From The Indiana Sentinel.
THE CRY OF HARD TINES.


THE CRY OF HARD TIMES.
Its influence. Times in 1924. under a United
,Stdtcs Bank. by Henry Clay's shoring.
Wages in 1924. Times under John Quincy
Adams; at first artificial excitement, then
g~reotsufering. SPeculations in the spring
of 1926. Rcrulsion in the rinter Of
1856. Swindling By moneycl ;astitu-
tionS IN spite OF the G,cdt Regulator.--
What is the great cause of hart times?
Mr.. Biadle summoned as u ritncss. HIS
uise decision in 1928. Which ofHe trO
parties encourages or~cr-bdnking and over-
hading? The Wigs; who THEREFORE en-
courage the true cause of hard times
Prices ofproduce in 1921, 1926 aRd
1897.
One of the expedients to which the Wing
Party now greatly trusts for success. and to
which they have never failed to resort on
the eve ofan election. if they had any cx-
cuse for it, is the old cry of
HARD TIMES!
They calculate, shrewdlv enough. that
what touches q mans pocket is very likely
10 awaken his attention. and influence his
conduct.
And il it could be shown, that the policy
Of the Administration or the measures of the
Democratic Party caused, or had a direct
tendency TO cause national distress and
pecuniary embarrassment, it would be 4 good
reason why "the Go,hs should be driven from
the capitol.
They tell US, that the recent experiments
on the currency" the specie circular, the
veto of the United States Bank, the subse-
Guentencouragementg given to the State Banks,
and the prospect Of passing an Independent
Treasury Bill with Il specie clause. are the
direct and all sufficient causes that have pro-
duced, and are producing, the present hard
times.
They must surely imagine that we have
verv short memories. What was the state
of matters in 1924? Every old politician
remembers it well. What "experimen,s
with the currency had then been made by
the administration! None. Had any specie
circular been issued! No. Had the United
States Bank been vetoed? On the contrary,
it was 10 full operation, had been chartered
eight wears. and had twelve years still TO 60
on. Had the Pet Banks then been made
despositorese No, the depusites were made
IN the United States Bank alone. Was an
Independent Treasury Bill with 4 specie
clause then about TO pass? No; such n
measure had not even been talked or thought
OF.
Well. then. al that time, aided by the Great
Regulator, the United States Bank, and pos
sessed of the s.best currency in the world
with no loco-foco President to carry on war
against and banking and credit,
what was the State of the country? We
repeat to our Wing opponents. the question,
WHAT WAS THE STATE OF THE
COUNTRY IN 1924?
Have they forgotten? If they have, let
them permit me TO refresh their memories;
and | shall do so from a source to which they,
at least. can make no objection.
At page 1872 of Henry Clay's lie by
G.. d. Prentice; or if that be not at hand, at
page 4s7 of volume q Of Niles Register for
the wear 1924, will be found a Tariff speech
of Mr.. CIay's, delivered in that year, from
which the following is an extract. ! hope
both Wings and Democrats will read every
word l. oil it:
UIu casting our eyes around US the most prominent
circumstance which fxes our attention and chalien-
ges deepest regret, is the general dist'ess ~hieh per-
eades the sehoie country. 1t is indicated by the d.
minisbed exports Of native produce; BY the depressed
sod reduced state Of our foreign navigation; by our
diminished commerce; BY SUCCESSIVE UN-
T%HRASHED CROPS OF GRAIN, PERISH1NG
I N OUR BARNS N YARDS FOR WANTOF A
MARKET; by the alarming diminution Of our cir
~eulating medium; by the numerous bankruptcies not
limited TO the trading CLASSES, but extending TO all
classes of society; by an universal complaint Of want
Of euploy ment, and a consequent reduction Of the
wages Of labor; by the ravlnou' pursuit after public
situations, not for the sake Of the honors and the per-
formance Of their duties, but as a means Of private
mb,;,tenee bv the reluctant resort to the perlous
use Of paper money; by the intervention Of lesi'la-
ton in the delicate relation between debtor and cred
itos; and above all by the lou and dtpre''ed state q
aiu,est erery description Of ne thole ma" Of property
OF The nation; WHICH HAS, on an average, SUNK
NOT LESS THAI FIFTY PER CENT WITHIN
A FEW YEARS.