The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1840-05-22
he issue and circulation of small notes were en-


trey prohibited.
Thus it will be perceived, that without the impo-
slop ofwholesomc restrictions upon The banks the
laboring man can never expect to receive either
constant employment, or steady and fair wages,
paid in sound currency, or to pay uniform prices
for the necessares and comforts oflile, which he Is
obliged to purchase. Under our present system
every thing is in constant state CT tucnatlon and
clmngc. Prices are high to-day, there is no ell
ploymcnt Tomorrow. These is no stability, 10 IL
Uniformity, under our present system Nt all men,
uborers are the most interested in such wise reg
uLliion of the banking system, by the States, us
would prevent the violent expansions and contrat-
ons in the currency, and the consequent suspcn-
sions of specie payment under which we have been
suffering.
Why, sir, under our present system, we endure
the evils of both an exclusive hard money currency
and bloated paper system, without experiencing
the benefits of either. The one is the inevitable
consequence of the other. AT the present moment
we have reached point of depression i'll the cur
rency which the Senator from South Carolina Mr..
CALHOUN considers as low, or lower, than the
hard money standard. Here we are, without credit
because man, for the prosecution OF his neccs-
sary business, can procure loan from the banks.
They are now in that state OF exhaustion winch Is
the inevitable consequence OF their former hlg'ly
excited action. The case which Senators sup
posed might exist, should we suddenly adopt hard
money currency, exists already. 1t Is now fact,
not fancy. The man who purchased property
hut one wear ago, in the days of the highest eApan-
sion for two thousand dollars, and paid half the
purchase money upon it, could, at this moment of
depression, scarcely sell it for the remaining one
thousand dollars This is one Of the greatest evils
of our present ever changing system but such
things must recur and recur again forever unless
some efficient remedy shall be applied.
But the Senator from Massachusetts has APP
pcalcd to the ballot box in the most solemn man
ncr, as tile means of freeing the country from the
calamities which he SAYS | have admitted would
flow from the passage orthe Independent Treasury
Bill | unite with him most freely in this appeal
Ills fear of the result in his own State Is probably
the best excuse which he could make for the man
ncr in which he has treated my speech, The morn
Ing is not merely dawnng upon old Massachusetts,
but a beautiful and brilliant Aurorr is now SIZED
ding her light upon it, and giving promise to bright
and glorious duv. We have at least an equal chance
with the friends of the Senator, of carrying Nlass-
chusettS.
Mr. WEBSTER. As good chance as we have
of carving Pennsylvania?
Mr. Is. said: before take my seat shall answer
this question (; but at present am speaking OF the
Senator's State, will not venture absolutely TO
prcdic, success to the cause OF the Administration
in Massachusetts at the next election, although my
hopes are high Year after year tie cause CT cor
rect principles has been gradually advancing y" 'm,'
ancient and renowned Commonwealth ana Snrh
a revolution in public opinion never goes back
ward,
The Senator appeals to the polls, ana expects
That the laborng men of the country will come to
III" YES ne In this venture TO pIedln' he WIN he
G lily mistaken. lie will find 1t to be ltcrr"-
lean task 10 persuade the 'nhorlng man that me
purity with which he IA identified Is "nh to I'm
aud To his interests. What have tc heretofore
Witnessed in the Senate When the precmploh
hill was before this body, the Senator from Nary
lind [NIr MERRIcKl attempted to deprive the
poor man who had fled ON the oppression OF
Europe To seek home in the far West from ENJOY
ing its benefits unless he was nainraIl1ed citizen
Ills proposed amendment was sustained by dlSlll'-
gushed Wing members in debate but voted down
by the friends Of the Administration, Again sir,
wni' p'ry "l'.' ia. ,,',- ',~,,a''" ,,, M"
"'S'''s"'Ih'" cNc'i"'1ns' .,I ",m",, "pp'.LL" "
pre- en'P''on '"'' ~ "'' Wv pun ''"" W."