The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1840-11-18
From the Philadelphia Ledger.
THE ELECTION AND IT'S RESULT
ON BUSINESS.

During the last TWO yeas aiio
cjalIy during the very last, the whole
country has been agitatcd by the Presl-
Dental election. OF one party, the sole
business has been to keep the present
Administration in; Of the other, to turn
it,om. During tins conflict, most of the
ordinary operations Of business have been
neglected, and President making has been
each citizens primary concern. The re-
suit being uncertain, some have been
afraid to engage in new enterprises; others,
already engaged, have been afraid to
prosecute their business with due vigor,
and others, terrified by apprehended re-
suits, or perplcxcd by uncertainties have
retired from business, to waste time IN
idIeness till the contest should be decided.
AT the same time millions of dollars have
changed owners through gaming upon
elections, and millions of days have been
distracted from useful labor, to listen to
the stump speeches of dcmagogues; and
millions more have been expended IN
building log cabins and erecting hickory
poles, in ridiculous, degrading, mob
creating professions, in stupcfying, soul
and body destroying intempcrance, IN
payingstump oratorsfor preachlnngtreason,
and in bribing knaves to commit perjury,
and cast fraudulent votes. Who can Cal,
culatc the loss of productive industry, and
the moral degradation which this contest
has produced! If the former has passed
over the land like a withering s'rocco, the
latter has swept over it like a desolatlng
hurricane. At least four years of repose
and of moral sclt-examination, will be
necessary to purify the public mind from
the dcbauching influences of this election.
But the contest is now at an end: and,
whatever be the end, the country will be
relieved from a great evil. If Mr.. Van
Burcn be reelected, the policy of his last
administration in finance, as it is called,
will be maintained, and his principal pro-
icct, the Independent Treasury act
will continue to be the law OF the land.
The effect of this will be to compel the
insolvent banks to ,rind up, to restrain
the solvent banks within safe and lcgiti-
mate business, and thus, by preventing
expansions and spcculations, to protect
the manufacturer and the American I'M
porter against destructive foreign compc-
tition. Besides these effects, State stocks
will advance in value; for as the policy
of Mr.. Van Buren's Administration will
be opposed to the creation of stocks, and
as this policy will exert an extensive IN
huence over the States, few or no more
State stocks will be created, the States
will feel the necessity of preserving their
credit by providing for existing stocks,
and therefore such stocks will augment in
value. If General Harrison be elected,
the first effort of his most active partisans
will be to repeal the Independent Trea-
sury act,7 and to establish National
Bank; and the expectation of success in
these attempts will produce an immediate
rise in the value Of all stocks, and Of all
property held by spectators at spccula-
tive prices. This expectation may also
lead to greater expansion by the banks,
and new and extensive enterprises in bu-
siness. In short, however the question
be settled, the result will be confidence
in the certainty of business; the success
of Mr.. Van Burcn producing confidence
n slow, moderate, and healthlu business,
and that of General Harrison confidence
in extensive business, great profits and
unusual prosperity. Therefore, the coun-
try may congratulate itself upon the set
Element.
But however high the hopes inspired by
tho election of General Harrison, we will
venture to pronounce them dclusive, and
to predict very serious disappointmcnts to
those who entertain them. If we should
be charged with presenting partisan views
Of the case. our reply is, that the contest
being ended, we can have no interest in
presenting any views beyond that which
every citizen ought to feel in the prospe-
rity Of his country; and tha, we shall be
Judged candidly by all who are not pre-
vented, by rabid partisan PrcJudlccs or
direct pecuniary interests, from under
standing plain truth. Fist, then, we say
that National Bank cannot be establish
ed; secondly, that the "Indepcndcnt Irea,
sury Act" cannot be repealed; thirdly
that momentary expansion and specula-
ton which the hopes of such measures
IN J,,oo ;r,pood;atol,, affcr Genera