, 1840-03-14

gels visits lew ana 1T DetWeeH, uut tleie,
alas !all likeness ends as the latter are suppos-
ed to be good; and his ideas quite the reverse.
] would advise him not to put himself into
a perspiration; it is apt to produce a bad cold
in the spring; particularly, are weak nerves
and unpiciated minds, more subject, to such
calmities, than robust constitutions. As dis
cretion and prudence,ar esteemed very great
virtues, would it not rebound much moro to
the credit of a Laborer and prove greatly TO
the advantage of the party, IN whose cause
he has taken up his Eerculean pen, that he
would refute what stated, instead OF en-
deavoring to run me to my hold! However
he il to be excused, as | strongly suspect, he
considers the road he took TO be by far the
most prudent and discreet. do not belong IL
the diapers Shop nor to any other Shop
I will insure that the gentleman he alludss to,
il ouite "a honorable and meritoriOus, besides
ne honorabIv folio Us, as honorable a calling
rs A Laborer. But this IS foreign TO my OBJ
ject. =,
In l83o-two years before the Veto, and
three previous to the removal OF the pubic
deposi,es; while the Bank of the United
States, was exercising its beneficial influence
on the country, and every thing was
prosperous the banking capital amounted to
las, l92, 26S dollars,the Specie to 22,l14,9l7,
dollars, and the loans and discounts to 200,
45l,el4 dollars. Then we could lay down
at night with a bank note under the certain
ty of its being the same value IN the morn
ing. But how is it now. Then we had a
currency superior to any other in the world.
Now we have 4 currency just as much IN
ferior, or rather non at all. Then we
were told, gold and silver would float up the
Mississippi. Now we are told, strong boxes,
with bolts and bars must be prepared, TO lock
up what is. remaining in the country and
that, that will make it plenty. Are we still
willing to be gulled by the same thinkers of
the currency; are WI yet ready to stand open
mouthed,4. suck in their honied phrases, such
as s'dear people," honest yeomanry, bone and
sinew Of the country DC. DC. Did you ever
see 4 butcher, with salt in his hand, coaxing
a fat OK into 4 pen and an understraPper
sneakinc behind to close the door, as soon as
it is in. Our government has more hired I'M
dersirappers in it 1t this tune than ever here
~tofore, but still they are not satisfied, more
is 10 be got, and the Sub-TreaSury is the door
through which they are TO be gotin.
The removal OF the deposits 1888 into the
State banks, the increase of capital conse-
'auent therefrom, with command OF the Elk.
e~cu,ive to those banks 20 loan and discount
freely, caused a tremendous expansion Of the
paper currency, as witness the following
statement. On the first January 1887,
,..ortly after the issuing of the Specie cur
c,;Iar. he banking capital amounted to 800.
1900. dollars. Specie ~ 37,9l5,34o dol
lars, and the loa.cs and discounts 10 the enor-
nous sum Of 5,5,l:h.7o2 dollars. showing
an increase Of more than 32I,I-4 Millions.
Now they tell US the oppos.t'on vas ,he cause
of this great increase, that n s,.1all 'iiioiity
produced all this. The I'D ninistrafIon ana
its vast majority, must have been very re-
miss in attending to their duties, according TO
this showing. the rulers and their hangers
on, not satisfied with trying TO shuttle of the
responsibility, OF the great Increase OF banks
and bank-rags, make the despicable and ri.
diculous attempt 10 show tina, TO them we
owe the high prices OF produce. Such IN.
consistency. was never heard OF. ! cannot,
TO save me, see how it can be otherwise,
than that the last and present adninistra-
tons, were the cause of the high price Of
produce, and also Of the present low prices.
Both were caused by tinkering with the
currency. Let US examine and see if the
increase Of money did not cause, us a ma
tural consequence the rise in prices not on
.lv Of produce, but Of every thing eIse.-
There arc very few men, US n matter Of
choice, that will stick TO hard work, if an
opportunity offers which promise. TO bring in
money faster; more particularly in this coun-
try, as we are known and acknowledge our
selves to be a persevering. calculating and
money loving people. And ! have no doubt
but it will be likewise conceded, that all per.
s~evering men take the shortest cut if it
promise as we!l'asa longer one. Just so was
it when the depogites were removed into the
pet banks, the monster %strangled, the check
removed, the command to loan and discount
freely On the public money, that money rs n
consequence Of all those acts, became as
,lenty as could be wished. Then men that
had thought Of nothing else, but tilling tho
ground, quit the plough, embarked in all
kinds of speculation, because money was
cheap and in proportion as it became more
plenty and cheaper, all other property rose.
The incentives becoming stronger, more