The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1840-03-31

IL,
Yet, sir, six weeks after all this, his speech and
mine having, in the mean time, been widely circu.
lated and read, tho Senator came into the Senate
and, without the slightest previous inlimaiion di,
rect or indirect Ia me- of his purpose dissats fac.
ton, rose and declared his establishment at the
manner in which he was represented in my reply;
and this lie did in terms harsh and discourteous |
thought he might have pursued course much more
suitable To correct misund ersdndmG, if there was
one, and that was his only view The lapse of
time and the circumstances give to this movement
an extraordinary character, and mark a deficiency
IN that decorum which signaZes the Intercourse
of the members Of the Senate. ! see nothing in
my course in the slightest degree dsrespectn to the
Notwithstanding bordering upon injustice, or
from which it is possible to infer the existence of IA
motive to wrong him; and there was none. But,
SIR, he has chosen his time and place He came
| here and not to me, for redress and here be has
made his appeal. II it could he his purpose to
come upon me by surprise, he succeeded; for no
one could have less anticipated any complaint. If
1t conld be his purpose to conceal his gries, and
make his attack suddenly that ! might be found
with the subject dismissed from my mind with
neither his nor my speech by nle, nor any hing to
refresh my memory. or to enable compare
facts he accomplished his purpose, and had the
iu'l beneht OF II; for indebted to the vuluntn-
~ kindness of friend 70" the copy of his speech,
handed to me at the moment, from which j read
some of his remarks. Such is the course chosen
by the member. Here he has made his appeal.
and here and in the country let the question as 10
his motives be judged Of aud whether 2an be Justly
chargeahIo with the slightest injustice towards him
Alter many comments, VIII en- called upon To
do, the Senator pointed ont two paragraphs in my
speech TO which he took exception.
His remarks difuse upon wages, labor
and other topics, that was not able ascertain
with satisfaction of what he did complain nor am
able now to comprehend it so distinctly as could
wish.
| will ask him If he has any objection TO that part
Of my reply relative to the causes of disu in the
country? We seemed to be agreed that it
owing to the arrangement of the currency; but,
N thn nf Hnrpn III II La
has any, wish HIM to state it now, as l can re-
ply more Understandings ifbetlcr informed.
1.-THE Senate, declined answering.]
| commented upon the remarks of the Senator
upon banking in the Unite Sates-upon exces-
sive issues of paper-upon the amount of circula-
ting medinm-upon credis-upon speculation-up-
on excessive imports, and upon the increased cost
of production and the rate of wages said to be pro.
duced by banking. | und erstood the Senator to
dwell upon all these matters in his speech--to
! speak of them as evils chilling for correction. II
| there he any thing objectionable in my remarks,
should be better pleased to have it distinctly point
ed now In the course of his observations the
other day in support of his complaint, he used this
Arguments 1 regret that he declines specifying
his objections, because was then, and am now, at
loss to understand what precise arguments he al
luded to in that declaration.
! | understood him to speak particularly and
strongly of the manu- featuring interest, ascrbng its
cmbarrassments to the cost of production, or, in
other words, to high wages; for labor creates pro-
| that Of labor. Every aborcr knows that, as n
general principle, the of production cannot be
dim inished, except by lowering wages, and that
wages and production go up and down together.
understand him to lmpute our want Of success To
the great cost of production, and to argue that
should succeed in obtaining possession Of our own
markets, and be successful competitors for the mar
kets Of The world if the currency could be redu-
ced as to bring down the costs Of production the
standard of prices throughout the world. | under
stood him that this was the corrective and the
remedy for the manufacturers at least. | thonsht
! this near approach to hard money alone; and how
far is it consistent with his dcc traons of friend
ship to mixed currency, others can Judge as well
| as can.
AS the Senator declines TO specify, and as | am
left TO proceed by such lights as have, shall now
read some parts of the printed speech of the Sena
tor and leave others to judge how far they sustain
the view he took his arguments.
| ItlereSMr. d. read several passages from the
speech, showing the general current Of argumen
upon banks, banking, and excessive issues of pa
per; also, relating to credit, speculations, &c.
which it is unnecessary to repeat.
! Sir, cannot detain the Senate by reading fur
Their, and have drawn attention to these para
graphs to show, what am sure the member will
not question, that he treated ofbanking as it ex
lists in the United States AS highly objectionable
and bringing upon the public evils which demand
| ed n remedy.
pass to another part of the printed speech
which deem more material, as it relates To those
matters which induced me chiefly to reply TO him
| The Senator said:
"sir, soemnly believe that i! we could but re
duce this inflated paper bnbHe to any thing like rea
souable dimensions, New England would become
the most prosperous manufacturing country tina
the sun ever shonc upon. Why cannot we manu-
facture goods, and especially cotton goods, which
will go into a successful competition with tho Bri
ish manufactures in foreign markets. Have we
not the necessary capital? Have we not industry
Have not the machinery? And, above all, are
not skill, energy, and enterprise, proveIbia
through the world! Land is also cheaper her.
than in any other country ON the face of the earth
We possess every advantage which Providence
can bestow upon us for the manufacture of cotton
but they all counterbaanced by the folly OF man
| The mater:rl costs less than it does tn,
| English, because this is article the price o
which depends upon foreign markets, aud is no
regulated by intlnied currency We
therefore, save the freight of cotton across the At
| lantic, and that or the manufactured article it.
return here. What is The that with al
! these advantages, and with the protective duties
which law affords to The domestic manufacture
err ofcotton, we cannot obtain exclusive possession
of the home market, and successfully contend foi
| the markets of the world?
! cit is simply because we manufacture ut fhe