Lincoln telegraph. [volume] (Bath, Me.) 1836-1846, 1840-10-29

there would be this to be said, that the
Wings never denied such charge. But
in the case of State debts, this cannot be
said. From the U. S. Senate to the last
political meeting where it'has been aghated,
every Wing has denied that any such de-
sign was thought Of This these gentle
men must have known, or they are too
little informed in political matters TO have
ventnred even a secret address to their
political friends. But this urged in the
most obnoxious manner, and IN staring
cabitals we are told that it would "effect
re-.oIonization OF this country to England. I"
How does this agree with the high tariff
charge The tendency OF that would be to
make us independent of British manutac-
lures. Truth is always consistent. 1t
other answer were necessary than simple
reference to the fact that III all places and
under all circumstances the Wings have
denied any knowledge of any design 10
adopt the State debts, we can reply to 1t
by another reference to a higher authority
TO the Constitution, the charter OF our
riqhts without an alteration of this. no
adoption could avail any thing. MIR.
Senator Grundy first introduced this sub
iect to notice in the Senate. 1t is piece
OF, MachiaveIian policy, such as is some
tW" :, cGtised by an obnoxious monarch,
Y '1 fftfiiFongh his policy, will get up sham
plot of treason, and then charge it upon
some who are too stubborn to yield to his
will, and thus make them odlous, or per-
haps cut off their heads. The mitators of
European monarchles may have learned
other lessons in that school than the best
mode of reducing the people to poverty by
introducing into the country the policy OF
an exclusive metallic currency.
These gentlemen complain that their OPP
ponents have misrepresented the "lnde-
pendent Treasury bill" This may ex-
plain what before appeared inexplicable-
how it was possible for honest men to sup
port an administration after it had forced
through Congress measure so des;ruc-
tive as we believe this is to the dearest in
terest of our common country. Either
they are ignorant of It's provisions, or we
do not understand them. Upon one point
all fair men must be agreed, that from
some cause or other the condition of the
country is in that state when a change Of
policy can do US no injury, and may be an
improvement. The time has been when
the country was prosperous--when industry
received the reward of its exertions-When
wei! directed enterprise was crowned
with success-when the currency of the
whole country was in a sound state That
time has passed. IL the millions Of
people Of this great country cannot fully
comprehend the causes Of the arrangement
of business, the workings of a complex sys-
TEN, still the millions can see and feel.--
Hunger and distress is the same to the I'M
informed as to the physician who can ex-
plain all the functions of the body. 1t is
denied by these gentlemen that the opera
ton of this bill will be 10 reduce The price
of labor and the value Of the products of
labor AS they understand it, it is said to
be simply "to manage the financial con-
Germs of the Government as every town,
''every county, and about every State in
''the Union manage their own affairs. y
Now here is an explanation, an illustration
by analogy Of the "lndependent Treasury
BILL" which all can comprehend. All
know how the financial affairs of their
own town are managed; the taxes are as
sessed, the collector notifies the rate-pay-
ers, and calls for the amount, aud rsceiUeS
It IN such money as is current, W neither it be
bank bills or specie. He pays 1t over TO
the treasurer, who, as matter of conven-
fence, usually deposits it in bank, if one
happens to be in his town, and if not keeps
it by him, and pays it out in checks on the
bank where deposited, and when not de-
posted, in such money as he received from
the collector. In all this in what does it !
agree with the 'Independent Treasury
bil?" That provides that one quarter of the |
Government shall be paid in specie this year
one half next year--three quarters the |
year after--and after that all the dies of
Government, whether arising from duties,
from sales oflands, or from direct taxes,
shall be paid in specie. And this is to be
kept in vaults by the receivers until requir-
ed to be paid out. To make this ilustra-
ton parallel case, let US consider the eff
feet which a vote of all the towns in this
State would have, that the State, county
and town taxes, amounting in all to more
than 2 200, 900 dollars, should be paid in
specie, and that no collector should re-
ceive any other money in payment for taxes
What would be the effect of such meas
ure upon the business of tho State? The
banks would stop issuing their bills, that
they might not be Immediately returned for
specie. This would make money scarce
This wonld check the operations Of bus