The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1840-03-18

efforts Of one class to dissipaie the fortunes
which they have inherited, whilst another class.
BY their industry and economy, are regularly
rising to wealth. We have all. therefore, a.
common duty, to protect the rights Of the la
boring man and If believed for moment that
This bill would prove injurious to him, il should
meet Eay unqualified opposition.
Although this bill will not have as great an
Influence as could desire, yet, as far as it goes,
i; will benefit the Isborng man as much, and
probably more, than any other class Of society.
What is il he ought mos, to desire Constant
employ yment. regular wages, and uniform rea-
sonable prices for the necesssries and comforts
of life which he requires. Now. sir, what has
been his condition under our system Of expan-
sions and contractons! Iio has suffered more
\ by them than any other class of society. The
rate Of his wages is fixed and known; and they
are the last To rise with the increasing eSpan-
sion, and the first to fall when the corresponding
re,ulsion occurs. He still continues TO receive
his dollar per day, whilst the price Of every
tlce which he consumes is rapidly rising. He
i. at length made to feel that, although he no
minally earns as much. or even more that he
did formerly, yet, from the increased piice OF
all The necessares Of life, he cannot support his
family. Hence the strikes for higher wages,
r, and the uneasy and excited feelings which have
at different periods, existed among the laborins
,, classes But the explosion al length reaches
the exploding point. and what does The laboring
man now suffer- He is for a season thrown
out OF employment altogether. Our manuiac-
lures are suspended; our public works are
stopped; our private enterprises of different
kinds are abandoned; and whilst others are able
to weather the storm, he can scarcely procure
tho means Of bare subsistence.
Again. sir: who. do you suppose, held the
nT III .porthless If tba
hundred and sixty-fve broken bank. TO which
have referred Certainly il was not the keen
and wary speculator. who snufs danger from
afsr. IL YOU were: TO make the search, you
won Id find more broken bank notes in the cot
, tagss Of the labOrlDg poor than any where else.
, And these miserable shinplastsrs, where ars
they After the revulsion Of 1887, laborers
were glad TO obtain employment on any terms !;
and they often received it upon the express CON
, ditlon that they should except this worthless
|, trash in payment. Sir. al entire suppression Of
5 all bank notes Of lower denomination thar the
value of one weeks wages Of the laboring man
! is absolutely necessary for bis protection. He
, ought always TO receive his wages in gold and
5 silver. OF all men on the earth, the labOrer is
most interested in having sound and stable
currency.
, All other circumstances being equal | agree
, with the Senator from Kentucky that that coun-
|, Try is most prosperous where labor comma nds
/ the highest wages. ! do not, however. mean
by the terms igh.st." the greatest nominal
amount During the Revolutionary war, enc
days work commanded hundred dollars of
continental paper but this would scarcely have
purchased breakfast. The more proper ex-
preston would be, TO say that that country is
most prosperous where labor commands the
greatest reward; where one days labor procures
not the greatest nominal amount of depreei-
a,ed currency, but most of the necessaries and
r comforts Of life. II, therefore, you should, il
4 some degree, reduce the nsmiuai price paid fol
labor, by reducing the amount of your bauk is
a sues within reasonable and safe limits, and es
+ tablish a metallic basis for your paper circu
" lalion. would this inJure the Iaborer :! Certain
l. lly DOt because the price OF all the necessarIe
r and comforts Of life are reduced in the sam,
e proportion, and he will be able 10 purcha.,
J. more of them for one dollar 10 d sound state o
q the currency, than he could have done. in tn,
h days Of extraysant expansion, for dollar and
+ quarter. So far from injurng, it will great,
benefit the laboring man. /, will insure TO hin
/ constant employment and regular prices. pal,
e in a sound currency, which, OF all things, h
o ought most to desire and i, will save him from
10 being involved in ruin by recurrence Of thos
periodical expansions aud contrsctions Of tn
: currency, which have hitherto conyulsed th
10 country.
v. This sound state of the currency will hsv
3 another most happy effect upon the laboru
J. man. lie will receive his wages in gold an
l. silver; and this will induce him TO lay up, 70
}, future use, such a portion Of them as he ca
|. spare. after satisfying his immediate want,
in This he will not do at present. because h
ir knows not whether the trash which he is no,
,r compelled to receive as money, will continue (
:. be Of any valne week a month hereafte,
' A knowledge Of this fact tends To Danish econ
HI omy from his dwelling, and induces him to eI
re- pend all his wages as rapidly as possible, lea
d, they may become worthless on his hands.
10 Sir, the laborng classes understand this sub
ul ject perfectly. II is the hard handed and firm,
ID hsted men of the country on whom we must re
d, ly in the day of danger. who are the most friend
so ly to the passage of this bill. il is they wh
Of are the most srdeutly in favor OF infusing int
I'd the currency OF the country avery large amou UT
,e Of the precious metals.
I'd Now in all that Mr. Buchanan has here sale
:, can any man, be he cavalier or ronndhead
O. discover even an intimstsn Of a desire 10 reduc
r at all H.e circulating medium required for a
's NECESSARY business purposesef De country! n
:. /. sane man will pretend it. No fair. honest min
NJ can discover it, expressed or implied. All IN
n parade Of figures. however, and all this abuse
TO the administration. ara pred,cated upon the a.
~ sumption that such isthe purport Of Mr.. BIS a,
$. gunent,-hdt such as the stject Of the Generc
is government! When such writer for such
Nj purpose, can thus pevert and misrepreser
s- the language OF another. sud in the sam
,' !. breath, speak as he has spoken. of the bank
=, rupt eharaete" and corrupt principles OF tn
H. highest officers Of Govsrnn.nt; he surely hs
il little reason to complain, il others should beg
IL to suspect the honesty and purity of his own.
5. All that Mr.. Buchanan has said. therefore, i
directly the reverse Of What hd, been represented