The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1840-07-08
RH0DE.ISLAMD REPUBLICAN.
NEWPORT:
WEDNESDAY, JULY 8, 1910.
Democratic, State domination.
FOR PRESIDENT
MARTIN VAN BUREN,,
OF NEw-YoRK
FOR VICE PRESIDENT,
r ICHARD nj. JOHNSON.
or KENTUCKY.
z lie o r o r S.
HENRY BULL, Of Newport.
JOHN D'WOLF, Of Bristol.
JESSE HOWARD, of Cranston.
Passage of the Sub-Treasury Bill

Passage Of the Sub Treasury Bill.
This bill which has been so long and i'm
periously demandedby The erigency fthe times,
and the popular will, has at length passed the
House Of Representatives, received the sigma
ture Of the President, and become the law oi
the land. To our mind. this is one of the most
important acts to be found 10 tho whole history
OF American legislation; and few, if any, have
ever been destined TO a more violent and reck-
less opposition; and if the country is to be Wis
tied, even with fraction Of the evils that have
been predicted as the inevitable results Of its
passage. it will not only remain one Of the most
memorable instances of deliberate self destruc-
tlon. by whole community, to be found in
the records of human history but will be held
up, in all future time, to the friends of equal
rights. as the most pspable demonstration Of
mans iDcapacity for self government For, it
will be conceded on all sides, that large ma
jority Of the American people have given their
deliberate support TO this ct;-thst, in their
opinion, this, or some other measure equally
effective. had become necessary for their own
piotot'iou, iOi 'tc seChfNy vi oONefhineDI, anu
for the preservation Of our republican institu-
tions. And if they have failed in this,--if the
very means thus deliberately devised by them
selves for their own security and protection, are
to bring upon them the evils predicted. it would
seem that no better den,onstration-n stronger
proof can be desired or furnished of mans iu-
capacity for self government or Of his utter
inabilaty to escape threatened danger, or to
provide for any future contingency.
But we are not Jet prepared TO take so gloomy
and degraded view Of human nature. Man
has been endowed with tho faculty Of reason tor
his guidance, and we believe that, in the aggro-
gate, he has higher powers and noblcr aims,
than are to be found in the transient ebulitons
and excited representations of political parti-
zans. At best, they should BIZ regarded only as
false prophets, aud but little heed given to their
political predictions. For faith in such proph-
cts, requires not only belief in the Calvanistc
. dostrne of mans total depravity. butthe forced
and false assumption Of this ineffable stupidity
As our gullibility is not sufficient for this.
we still remain skeptical as to the ruin pre-
dictcd. We believe that, instead OF evil. the
Independent Treasury Bill will produce greater
and more sslutary effects on the currency and
business of the country, than any other act
proposed by Congress since the existence OF
the Government; and that it is yet destined TO
a greater and more enduring popularity with
the American people. than any other act, not
epen creeping that Of 1876, establishing Ma
tional Bank.
Again, if we examine the claims of these
rognosticators Of evil to the true gifts Of
prophecy, we shall find additional reasons for
doubling their predictions, and for ranking them
with the prophets of Baal. OF Msmmon. BY
far the greatest number, and the most bolster
Gus and sanguine of these financial soothsayers,
arc found among those who are most intimately
connected with, and who are mos, deeply inter
ested in sustaining the present system Of an ir-
redeemable paper currency, And their predic-
tions are principally founded on certain fnap-
eia assumptions OF the head prophet Of his
tribe, which portion Of his followers have re-
, recently not only declared to be false, but de-
nounee as 'rmnoas 10 more business men in this
country, than ALL OTHER CAUSES UNI
TED, for the last tpenty gears. The false
hood of these assumptions in finance majority
OF the American people have had the sesacity
TO detect, and are now determined TO arrest the
farther progress Of the evil, which has of late
so frequently threatened TO involve them in a
common and irretrievable calamity. Nor have
they acted rashly in adopting measures for their
l,tn Eo, ,n ,Jl ~.
fruits Of experience, to which they have been
long subjected by the practical operation OF
that modern principles Of paper finance, the
people have deliberately examined and cempar-
cd them with those Of preceding political econ
omists, OF acknowledged merit, and received au-
! thority and they have discovered a woful de-
parture from the primitive principles and sound
practice Of their fathers. And although prop
ositions in politics and finance, are by no mean,
susceptible OF the same Kind Of proof as thoss
in the n,athe ematical sciences; it is yet incum-
bent on those who are seeking to psrpetuats
the present paper system. to show, if they can.
that the principles they wish to establish can be
traced to a higher source Of wisdom than that
Of erring man by proving them to be, at least,
in conformity with those laws by which nature
seems to work. and in furtherauce OF principles
which shs has evideatly implanted for the ae-
eomplishmcnt Of mans greatest good. For,
as in the moral and physical constitution Of
man, SO in the social and political Ii is in all
these states and relations, that nature has made
certain provisions and established principles.
Tor his attachments in virtue and happiness
Aud however much ,hesc principles m,y be