The Illinois free trader. (Ottawa, Ill.) 1840-1841, 1840-10-30

choice, WnOm snail tney trust! We
cannot have q government without thu
agency of men. If some deceive us, lie
us punish and displace them-but let u:
never surrender the controlling power
into the hands of an incorporated monster
whose soul is money-whose smiles are
chains-and whose enmity is destruction
Some of my wing friends know this by
experience.-They wonder at my hostil-
ity, and am equally astonished at their
forgetfulness. AS for the currency, my
opinion is, that the balance of trade is the
only regulator it can have; money, like
water, will find its level, excessive i'm
portations create vacuum abroad which
nothing but bullion will supply, and no
institution can keep up the deficiency !;
protecting duties will not remedy the evil
without solid currency, because the cost
of manufacture will always keep pace with
the circulating medium. If we have a
redundant paper currency, we must pay
tribute to specie countries, England pays
tribute to France, Germany, &C., we pay
tribute to all of them.
am not for an exclusive specie cur
rency, nor the destruction of our solvent
state banks ; but | would regulate them
into fair banking privileges, or Danish
them from the land their interference
with the trade of the country, raising its
produce above the prices of any foreign
market, and drawing even bread stuffs
from abroad, certainly cannot produce our
prosperity and now, that we are feeling
the effects of their extravaganza, they cry
aloud against the government, and close
their vaults against the people.
When merchant stops payment, he is
SAL to nave failed, but these privileged
bankrupts have failed three times in three
years and are now waiting the event of
our elections as if they were candidates
for office. If they were merely specta
tors, it might not be very material; but
their influence is mere powerful than
reason itself. The cry of "hard tines"
is the strongest plea that can be urged
against patriotism, for it touches tender
point, and carries away the feeling in
spite of the understanding.
| was yesterday in conversation with
several prominent wings, who openly
avowed the principle of prescription; de-
claring that they would Danish men from
their employment, who should refuse to
vote according to their wishes. If prin-
ciples break out now under the mere hope
of success, which were carefully conceal
ed in the outset, what may we not expect
from the exercise of that power which
they anticipate! 70 whom are we in
debled for the scarcity Of money The
wings control the banks all over the
Union when they issue their paper free
ly, they make money plenty; when they
call il in, they make money scarce they
understand the panic system, and used ii
severely, for the sttwelve years. Eve
ny Presidential election during ihat period
has been preceded by distress, and it
would have been very strange if we had
escaped on this occasion. Should the
power and influence of the banks prevail,
we shall have q revival forthwith post
notes and kites will cover the land----pro-
perry and producc will take another tlight
pride aud extravaganza viii soar aoit
but another revulsion is inevitable, and
down we tumble in the depths of ruin and
distress. Our experience is in favor of Il
sound and healthy currency, with limit
ed system of credit, and the mass Of man
kind are safer and happier under such Cir
cumstances; but the guilty and desperate
would rather see the world on fire, that
they might snatch some advantage in the
smoke.
With these views | must admire the
plan of an Independent Treasury sepa-
rating the government from all contamina-
ting Notwithstanding its opera
tons to the purposes for which it was
created, transaclng its business in lawful
money--and by It's example and influence
hold check upon the reckless extrava-
gance of the times. Simplicity is the soul
of republican government; it is equally
advantageous in private life, and the closer
we keep to it the more we promote our
happiness as a nation or as individuals. -
But if we must rival the nabobs of Europe,
and ape their follies, we are too vain to
be free, and TOO weak to be Independent.
So much for the purse, and now for the
sword. What fright we have had at
that terrible report; Congress should not
have called for itMr. Poinsett should not
have produced it-Mr. Van Buren, should
have nut his veto ON il hefnre IL WAS nre-