The Ohio Democrat and Dover advertiser. [volume] (Canal Dover, Ohio) 1839-1840, 1840-01-10

quiring more than ten milIisns Of dallaFsa a yea
TO payahe interest This sum has to bepaid ou
Of the exports Of the country, and must of nee
essity cut of imports to that extent, o. plungI
the country more deeply in dsbs from year L
year. II is.easy ia see that the Increase Of TIM
foreign debt must augment the annual demand
on the sxpoTtStc pay. the interest, and to thu
sane entent diminish the imports; and in pro
portion To- the enlargement Of the foreign debt
and the eohseQent incFease-Of interest, must bt
the decrease Of the Import trade. In lieu o
Ithe comforts which il now brings as, we nigh
have our gigantic banking institutions and spleH
Il did, but ia many instances, proftless, railroads
aud canals, absorbing to great extent, IN inter
est ApOn the capital borrnwed5o'conslrue them
the surplus fruits Of national industry for years
Ito loome, and securing to posterity no adequate
return for the comforts which tho labors oftheir
hands might otherwise have secured. i is mol
tby ihefneease Of this debt that relief is to be
sought, but in its diminution. Upon the point,
'ihere is, | am happy to say. hope before US; moi
so much in the return Of c; nfidence abroad,
| which will enable the States to borrow more
money, as in a change Of public feeling at home,
which prompts our people TO pause 10 their Ca
reer, and think af the means by which debts
are 10 be paid before they are contracted. 1t we
would escape embarrassment, public and pTi'
vate, we must cease 10 run IN debt, exception
object of necessity, or such as will yield a eer-
tainrsnlTn. Let the faith of the States, corPor'
atoms, and individuals. already pledged be kept
with the punctilious regard. It is due to eur
national character, as well as to justice, that this
should on the part Of each, be fixed principle
Of conduct. But it behooves US all TO be more
crary III pledging II hereafter BY ceasing to
run in debt, aud applying the surplus OF our
crops and incomes 10 the discharge Of existing
obligations, buying less and selling more, nIan-
aging all affairs, public and private. wit. strict
esconomy anG fiugaEty we shall see our coun-
ltry soon recover from temporary depression
arising not from natural and permanent csuses ,
butEom those have enumerated, and advance
with renewed Sigor IN her career Of prosperity.
| Fortunately for US, at this moment,
wen the balance o(trade is greatly a.
gainst us, and the difficulty Of meeting
il enhanced by the disturbed state cf
our money shaire, the boaniies OF Prov
idenee have come TO relieve US from
the consequences of past errors. A
faithful application OF the immense re-
suits Of the lahors Of the. last season
will afford partial relief for tho present,
and perseverance in the same course
will, in due season, accomplishing rest
We have had full experience, in times
past, Of the extraordinary results which
can, in this respect, be brought about
in short period, by the united and
well directed efforts Of community
like ours, Our surplus'ptofts, the en-
ergy and industry of our popelation, and
The wonderful advantages which Provi-
dence has bestowed upon our country,
IN its climate, its various productfcns,
indispensable 10 other natious, will, in
due time, afford abundant mssas TO per-
iect the most uselul Of those objects,
for which the States have been plum
ging themselves of la,o in embarrassment
and debt, without imposing on ourselves
or our children such fearful burdents.
But lei it be indelibty engraved on
our minds that relief is not 10 be found
in expedienls. Indebtedness cannottse
lsssoned by borrowing more money, or
by changing tho form Of the debt. The
balance Of trade is not to be turned in
our favor by creating new demands up
on us abroad. Our currency cannot be
improved. by the creation Of new banks
or more issues from those which now
xist. Although these devices some-
lines appear to give temporary relief,
they almos! Invariably aggravato the evil
IN the end. II is only by retrenchmeni
and reform; by curtailing public and pri-
yGlo expenditures, BY paying our de5's,
and by reforming our banking system,
that we are 10 expect effectual relief.
security for The future. and an enduring
prosperity. 4n shaping the institutions
md policy oflhe General Government
so as to promote, as far as il can with
'ts limited powers. these important ends,
'ou may rely on my most cordial CO.
operation.
That there should have been, in the
nogress ofrecent events, doubts in ma
" quarters, and in some heated OPP
position to every change, cannot sur
prise US. Doubts are properly attend
mt on all reform; and it is peculiarly in
The nature ofsuch abuses as we are
now encounterlng,to seek to perpetuate
heir power by means Of the influence
hey have been permitted to acquire. 1t
10 their result, il not their object, TO-
gain for the few an ascendency over the
many, by securing to them monopoly
Of the currency, the medium through
which most Of ll,e wants of mankind ay
supplied-io produce throughout socie-
ty chair Of dependence which eads
all classes 10 look TO privileged aseo-
Citations for the means Of ofsreeulAtioE AMI.
sxtravpgauce-to nourish, in prefer,
enco IN iha manly virtiae tho, uiv.o