The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1840-04-04
: BhOONsRURG. CoLUfBiA COUNTY pa sATuRDAY

ehhsyNahla MI BUCHANAN following
in his track, have advanced the propositions
that the embarrasments and distress with
which the country has been grievously af-
iilcted for several years past, and which
now paralyze all its energies, are inputable
10 the pernicious influence Of bank paper,
that this biN the Independent Treasury
bill contains The necessary corrective. as
thrill cheek impOrtatiOns Of foreign goods,
suppress achGt they cali the system, and by
restoring a specie currency, reduce the tcG
ges Of labor drdhe valus of property
This is the character giUen 10 the measure
by its friends; and alarming as the doc
tFines are, lam grat;Eca that they are
frankly aUowed,"
Nov, sir, | openly declare, in the lace of
the Senate and the world, not only that no
such doctrines were ever avowed by me, but
that these remarks Of the Senator are palpa-
Bile, will not say Intentional, misrepresen-
tations both Of the letter aud spirit Of my
speech.
What sir, to attribute to me the remark,
that this bill,by applying the necessary cor
receive to the pernicious influence of bank
paper "and by thus restoring specie cur
rency," will produce the disastrous conse-
quences which he has enumerated; when
considerable portion Of my argument was
devoted to prove that the bill would pro-
duce no injurious effect whatever upon the
sound and solvent banks Of the country
Nay, more, that it weuld exert but very
trfling Influence, indeed, if any, even in
restraining within safe limits their loans
and issues. Now, sir, ii may be very in
genious; but it is certainly not very fair so
put into the mouth Of friend of the bill
aT,ggmenlg pl,I,y in its layoE the slroqgegL obiec=
lis enemies. These would be SO many ad-
missions Of its fatal consequences, and they
would be the stronger when converted INTO
arguments in its favor by one OF its friends.
Against the whole current Of my remarks
against my express and reiterated declara-
lions, both upon this and forlRer occasions,
that / was no friend to an exclusive hard
money currency, but was in favor OF well
regulated State banks, how could the Sena-
tor be so far mistaken as 10 sit down and
deliberately write that had urged in favor
Of this bill, that il would restore specie
currency, and thereby reduce the wages OF
labor and the value Of property leave
liz for him TO answer the question accor-
ding to his own sense Of justice towards
a brother Senator who had never done him
harm.
But the Senator does not stop here
Throughout his whole speech he impute'
to nae the use Of such arguments in favor o
the bill as have stated, and dwells upor
them at length-arguments which, if haC
ever used, would prove conclusively that
was al enemy of the bill which | prOfesse'
to advocate, and that scarcely even id dis
guise. This is the light in which he pre-
sents Rie before the world. Towards tn
csnclusiou Of his speech he claps she eli
max. He says:
nTs follow out the case have suppose
TheincOme Of every man, except the eA
porter, is to be reduced one-half in the va
ue of wages and property, while all forolg'
merchandise will cost the same, which wi
obviously, in affect, double the price, as
will take twice the amount Of labor, o
twice the amount of the products Of la6or,l
purchase it,"
~ do NOT aScri6e The pO,0er tOthe ball
bm IL is enough for me that its friend
do. What response viii the farmers M
chanics. manufacturers, and labore'
make to such a RagitiOuS propOsihOn?"
All this the Senator says in g Preiesse
reply to me. He thus charges me wit
If having asclibed TO the IndependeT
d Treasury bill the power OF reducin
" the income Of every man in the cOuntr
q "oae half.in The value Of wages and prope
~ uoI oontandad in favor nf an