Columbus Democrat., 1840-01-18


raj extent, IN interest upon the capital borrowed
!, construct them, the surplus lruit Of national
ndusiry for wears TO cUme, and securing 10 pros
7erlly no adequate return FOR the cominH which !
the labors Of their hands might Otherwise have
secured. II j. not by the increase OF this debt
that relief is 10 be sought, bu, IN its diminuilon.
L pon lhls point there l., am happy 10 say, hope
before US, not so much in the return Of cOnh-
dence abroad. which will enable The states 10 bor
/ row more money, as IN Il change Of public feel
+ ing at home which prompts oul people 10 pause
/ in their career, and think of the means by which
debts are TO be paid before lhoy are contracted.
If we would escape embarrassment, public
AMI private, we must cease TO run IN debt except
C,y o,Siecis Of necessity, such will yield a
c.u,.n ,eluru Let the faith Of the State corpo
ro,ions ans! individuals, already pledged be kept
with The r7oSt puncnhous regard. II IS due TO
our national character, as well as to Justice, that
this sbound IN tAe part of each be fixed prncl-
nile or conduct. Bot behooyes US all 10 he
more careful in pledg,ng II hereafter. by ceas-
ing to in debt, and ap7'Flng Ihe surplus o. oo'
crop and incomes TO the discharge oi existing
obligations. buying less ano selling more and
manageing all affairs, public and private "'h
J
country soon recover from temporary cepFes.
sion, arising not from natural and permanent
causes, but from those have enumerate d, and
| advance with renewed ylgor in her career OF pros
perlly.
Fortunately for US, at this moment when the
balance of trade is greatly against Us, and the
difficulty Of meeting it enhanced by the disturb
ed state of our money affnirs, the bouLties Of
Providence have come to relieve us from the
consequences of past errors. faithful applIca
lion OF the immense results Of the last season will
afford partial relief for the present, and perseyer
ance IN the same course will. 10 due season ac-
complIsh the 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. Onr surplus profits, the
energy aud industry Of our population, and the
wonderful advantages which Providence has be-
slowed upon our country, IN lis climate, It's yarI-
Gus productions, indispensable 10 other nations,
wiz, m due time, afford abundant means TO per
iect the most useful Of those objects, for which
the states have been pIungng themselves Of late
IN embarrassment and debt, without imposing on
ourselves or children such fearful burdens.
But lei it be Indebly engraved on our minds
that relief IS not be found in expedents. In
debtness cannot be lessened by borrowing more
money, or by changing the form Of the debt -
The balance of trade is not to be turned in our
favor by creating new demands upon us abroad
Our currency cannot be improved by the creation
OF new banks, or more issues from those which
now exist Although these devices somtimes
appear TO give temporary relief, they almost inva
| rlaI,I la IL Il l.. 4
by rerenchmenl and reform, by curaIling public
and private expenditures, by paying our debts,
and by reforming our banking system, that we
are to expect efectual relief, security for the fu.
ture, and an enduring prosperity. In shaping the
institutions, and policy of the General Govern.
mrnt so as to promote as Far as il can with its
limited powers, these important ends, you may
rely on my most cordial cooperation.
That there should have been, in the progress
OF recent events, doubts in many quarters, and
IN some heated opposition to every change,
cannot surprise us. Doubts are properly alen-
dant on all reform; and II is peculiarly In the ma
ture OF such abuses as we are now encountering.
to seek to perpetuate their power by means Of the
influence they have been permitted TO acquire. i
IL their result, not their object to gain for iht
few an ascendency over the many, by securing
a to them monopoly Of the currency, the med
v um through which most of the wants of mankin(
. are supplied-to produce throughout society
i, chain OF dependence which leads all classes t,
r. look TO privileged associations for means Of spec
!. ulatlon and eXiravagance,--to noursh, in prefer
/. ence 10 the manly vntues that give dignity to hu
70 man nature, craving desire for luxurious enjoy
ment and sudden wealth. which render those thu
}. seek them dependent on those who supply ther
!. Ito substitute for Republican simplicity an
r. economical habits a slckly appetite for efiemlnat
N indulgence, and an imitation Of that reckless eS
hi travagance which impoverished and enslaved tn
it industrious people of foreign lands and ut las
is to fix upon US, instead of these equal polite,
" rights Inc acquisition of which was alike The oil
rs ject and supposed reward of our revoIutionar
In struggle system of exclusive privileges COZ
of terred by partial legislation. TO remove the il
lis fuence which had thus gradually grown up amor
ks us--lo deprive them of their deceptive adyan,
nj ges-to test them by the light Of wisdom NJ
oh ,ru'h--to oppose the force which hev coucentra
ire IN their support all this was necessarily the wo
he of time, even among people so enlighten,
". and pure as that Of the United States. In mo
!, other countries, perhaps it could only be- accor
H. pished through that series Of revoluti, nary NOV
ok ments. which are too often found necessary
IN. effect any great and radical reform; bu, il
the crownlng merit of our institutions, that ih
pr create aud noursh in the vast majority of o
by people, disposition and power peaceably
nd remedy abuses which have elsewhere caused /
sx. efIusion of rivers Of blood, and the sacrifice
is, thousands Of the human race The result III
OF far is most honorable 10 The self denial, the int,
we ligence, and the patriotism of our citizens !;
in justl6es the confident hope that they will cur
ng through the reform which has been so well beg
is and that they viii go still farther than they la
u yet gone in illustrating the important truth, tha
,ay people as free and enlightened as ours, vi