The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1840-04-01

pronounce IL entirely without foundation. l
havo always been firm supporter Of the pres
eDt administration Of the general Government
and that support it shall have as long as tcon-
tinues to be, what it nov is and ever has been,
democratic to the core. shall vote in April
for the Democratic Republican and Farmers
Prox. headed by THOMAS f. CARPENTER, and
exert all the inHus0cs possess, 10 secure its
success Your ob't serv't.
GEO. T. NICHOLS.
Effects OF excessive Banking and
Speculation on Public Prosperity.
1t is true that Heaven has blessed us with
bounteous haryests. Our granaries are laden
with the fruits Of the earth-our warehouses
groan beneath the weight Of the products that
minister to animal eXistsnce-our corn and oil,
and all IA, things Of the land. are ample and a.
bundanf. But. in the midst Of our fertility. we
are barren. The good gifts Of gracious Prov
idence have come to us in vain. Our plenty,
tho ugh it has saved us from want and famine.
has not been sufficient for US. We have eaten
and drank. and made merry, and we have seem
ed to he waxing rich and powerful, but all has
been deIusion. A moral pestencs has smit-
ton us. A fierce. infuriao desire Of gain has
taken possession Of our hearts, and under
its maddening impulses we have rushed on TO
the widest adventures. The frenzy Of specu
lation has ragged in our veins, and its wasting
and consuming fires have dried up the better
feelings OF our natures. We have plunged in
to every excess. rioted in every luxury, indslg-
cd in every vanity. and now. that the consequsn-
ces Of our folly are upon us, we begin TO re-
pent and rsproach ourselves.
Effects of same on Public Morals.
Men Of wealth, influence. character and high
ststion-men who were supposed TO be beyond
the reach of all ordinary tcmptatiops-men Of
apparently pure lives aud blameless example
even such men have been detected in acts of
the grossest pcrfdy and outrage. Frauds, the
magnitude of which almost surpasses belief
frauds not less daring in their conception than
: startling in their erecution-frauds not conhn-
ed TO single point nor embracing single OBJ
ject, bot sweeping over a wide variety OF inter
tsrests-lhcse have been committed over, and
over and over again. until meu have grown ner-
yously apprehensve rs to their recurrence. and
scarcely day passes ia which the public mind
is not agitstcd by rumors Of new-discovered
: plots and discoveries. Time was when events
such as these would have excited universal
horror; but now such has been their unhappy
frequency that they merely inspire alarm; and
the Indignation which 10 levelled against them,
arises much from the losses they inflic, as a
just detestation Of the crime. Indeed, it may
be feared, if acts like these are renewed and
continued, that the lofty sense Of commercial
. in,egrity--,he noble uprishtne,s Of conduct
that has long distinguished our trading commu-
!, nity-wiIl gradually give way, and that. instead
ofthe confidence which prevails, doubt, dstrusi
and dismay will be substituted.
h Causes and Remedy.
!. 1t is painful rs,rospecton thus TO look up
q on the vices and crimes of those who have once
Il enloyed the favor Of their fellow citizens; but
= if it leads 10 a correction of the causes which
have produced the evils. the retrospection vii
be saluiary. These causes lie deeper than il
Y generally imagined. The exuavsgance which
y has characterized the conduct of our people
l. the mad scheme, OF supposed profit ID which
they have engagcd-the delirium which hs
marked their undsrtakngs-are but secondar,
~ agents in the production Of these evils. Th'
real and efficient causes are TO be found in car
- dinsl errors Of the state governlnents-in th
'e substitution Of an unsubstantial moekery f.
70 the realny--n the adoption of a false, fuetua
'e ting and Inherently vicious system Of euuenc.
g as the basis Of all our monied operatious-an,
in The Unlimited and more unrestrainsd crsdi
TO which this has inevitably given rise.
/. There is 10 country under the sun whic
"A has suffered so much from corrupi currsnc
-, as our swn. It's influences have extended fror
!. the brosds,t acts Of the national GOVERNED
a down TO the humblest ordinances Of local mu
nieipslities. 1t has alike affected our relation
"A TO foreign countries and our domestic intel
iv trolled all our movemsuts-regulated our trad,
!. now expanding it beyond all reasonable limit
,n ssd again depressing it to point far below Il
~. natural level. il has induced every dcscrip,o
os Of misapplied enterprise-tempted individus
on to betray their trusw-given couutenance to q
10, manner OF illegal gain, and even ssdueed sove
an eign States to cripple themselves by obligation
Fat to distant countries. IL 10 to this system tn
Of all our present suffsrinss to be atribsted-
ep it is to this system that We owe the decay
IA. public morals and private honesty that ha'
lately marked our career Let ~. therefor
apply ourselves earnestly to the uork Of refsr
for let us not stop nniil we have rooted out ih
Of csnksr that euaws a, the rost Of our social o
,st, is,snee; Cor ~s may rely that until this 70 dol
nd We can obtain no permanent relief