The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1840-09-23

! Of success, which were carefully concealed IN
| The outset. what may we not expect from the
exercise Of that power which they anticipate
To whom are we indebted for the scarcity Of
money! The wings control the banks all over
this union; when they issue their paper freely,
they make money plenty; when they call IL 10.
( they make money scarce they understand the
panic system, and have used il severely, for ihs
! last Twelve years. Every Presidential election
dnring that period. has been preceded by dis
tress aud il would have been very strange, IL
we had escaped on this occasion. Should the
power and influence OF the banks prevail, we
shall have a revival forthwith; post notes and
kites will cover the land-propery and produce
will take another flight-pride and extravagance
will scar alolt but another rsvulsion is ineyi-
table, and down we tumple into The dephs Of
ruin aud distress. Our experience is IN favor
of a sound and wholesome currency, with a
limited system Of credit, and the mass Of man
kind are safer and happier under such circum-
stances; but the guilty and desperate would
rather see the world on FIRE, that they may
snato h some advantage in the smoke.
4 With these views must admire the plan 0 {
an Independent Treasury; separating the gov
ernmt nj from all cont taninatiDg combinations -
confnng its operations to tho purposes for
which il was created iransacting its business IN
lawful money--and by its example and innu
ence, holding check upon the reckless e1trav-
agancc Of tho times Simplicity is the soul Of
"a republican government. II is equally adyab-
rageous in private lie and thu closer We keep
10 it, the more promote our happiness as a
nation, or as private individuals. But il We
rival the nabobs Of Europe, and ape their iollies
we are too vain TO be free, and too weak 10 be
independent.
50 much for the purse, and now word for
the sword, What fright we have had at that
tenible REPORT; Congress should not have
called for it-Mr. Poinseu should not have pro-
duccd it-Mr. Van Buren, should not have
put his veto upon il, before IL was presentcd-
some OF our ladies are agilslod-soms Of our
gentlemen are horrnfed-and all the wings are
in a state Of CONSERVATION. An army OF citi-
zens scattered over the Union, ready to defend
their country at any point, is dangerous in the
last extreme. How much better to depend on
a raw militia, who are always qualified to repeat
the Bladensburg races.
Mr.. Poinsetts report is but the repetition Of
IA plan which has been often proposed, and as
often rejected; perhaps there are some features
IN il, useful III themselves, but not admissible.
Nevertheless, 1t was a timely catch, for a pollt-
zeal scare crow, and our exclusive patriots are
making the most Of it; they always had dread
of soldier aud chleftains
" In peace prepare for war" was the motto
Of Washington, but we must not put arms in
the hands OF the people, nor our money in the
hands Of the Representatives there is too
much republican simplicity about il; a Nation
al Bank, regular army, and seditien law,
would be far more manageable and energetic.
One Of the two systems we must have, either a
pure republican government, controlled by the
! people, or grand federal arrlstOcracy, 10 rule
and reign over them. And these two prime pies
have been the great source of controversy ever
since the close of our revolution men of sound
philosophy and benevolent feelings, are friends
! to the equal rights OF mnni wealth, pride and
arrogance are always arrayed against them the
contest is not couined to our country, but ex-
tends back TO the remotcst ages of history, our
pa,ricians profess to be the particular friends oi
tho poor and many of our pebians are foolish
enough to belivc them. My stomach reroils
at the sight Of poor man, fawDng al the feet
Of his would be lord and master; such creatures
might be easily persuaded TO shout God save
the king."
Another argument used by my whig friends
is this "Iou are brother merchant, aud IL
ls strange that you sacrifice yonr private inter
ests." Yea, verify, | am proud to be an ex-
csption, II this is the general rule it our faith
ers of the revolution had said to each other
" let us look TO our private interest" they ney-
er would have pledged their " lives, their for
tunes, and their sacred honor" TO secure the
principles we enjoy. We shonld not now be
called upon TO discuss and preserve the princi-
piles for which they fought and bled, The
word patriotism may seem romantic, to some
OF my whig frieods; know | could select
few, who probably never knew its meaning; but
believe a majority of them. would find IT lurk-
inc in their bosoms, if their eyes were only o.
pen to see the evils they would entail upon our
conntry."