Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1840-09-10

" AA ny 4 Guns ~ dilld VIII DC d tAlellSlNt hrcldl-
Ii is my purpose to be ut home through Ibis month
AM the next, rs much a. pussihle, although may pos
sIbly have occIson To "a u New York, AMI perhaps
to Philaiclphil for a day or two. lfyoi can persuade
yourself u exchange your own highly cultivated
ground aui g%lrlens, for PLAN farmers residence,
cooled b. the sea breezns. I shall he most happy To- see
you nj Mlrshfcld.
Your, very truly, always,
DANIEL WEBSTER
" BIDnLE, E<I, Aadilusih, Penn.
ArpaLusI,, penn Aug. =. 1910.
Hoa. DIniI Wc6s,er. B,sf.a.
Ny Dear Sir have had the pleasure Of reccivin.
your favor Of the 81 instant. and am grirfcd that
what said nn the occasion 10 which you alluic meets
yonT app;oAation. ! was IA truth u little anxious al
the tone OF some politicians ia respect 10 the public
debt, and therefore, fr the fist time since M retire
meni' fcniured to appeal, which | have never iounl
unsuccessful, To the native honesty aud intelligence OF
my countrymPn. TuIt | lid not mi-unicrstlnl them,
he conduct of Pennsylvania since has abundinily
proved. FIndiUS the income fom her puhlic works
in their unfinished state. insuficieu 10 pay the into
rest on The pIblic debt, she has laid n tax Cor that pur
pose. TINS will be paid promptly and cheernlly.
All the anlicipations OF public odi,m agt INST those
who voted for it have been disappointed; anil what Is
very remarkable, ia the heat of popular election
when each party Is prompt to turn every cIrcu ans, ance
10 the di,ldyantago Of lis rival, neither parry has re-
prolcacd the other with laying the tax, The Justice and
~prOprteiy Of thus sustaining the public credit being on
all sides conceded. Bat Pennsylvania has done more.
) 'e has agreed, as some of the other : aies have done,
To nuke M 10 the foreign CrcdIiors the difference be-
tween specie and her domestic currency.
This, as yoI know: Is a financial novelty quite I'M
known os where and as much an AmeTicanism as
The Steamboat or the quadrant, though its originality
runs less risk Of being disputed. from the little prubl-
bilIty offs adoption abroad. And yet, although the
United States form The only nation that ever paid of
the whole ofits national debt. and are the first TO III
denniiy the foreign ere litor ay9iuH the depreciation OF
the local currency, one might imagine, from the tone
assumed by ONE Europeans, that America had been
gniiiy oi some great default towards 6reigl nations.
themselves the models of fidelity; and il is amusing
10 read the grave hnnilics preached at these young
people about the ~propriety o~fp1ying their debts, by o..
der EaaIns who have Hvel IN the hab tual violation
Of all The duties they recommend
Now we must not suffer tha country to be thus scol-
ded or bullIed out OF It's self respect. And tho 1
would discourage all national p~rtjddices as g,r.rally
the result oi passion and ignorance, yet 1t seems with
IN the limits of n just self defence respectfully and
kindly u warn snch assaiIlnis. that these rcproaches
are V ~ apt io become reciprocal, that the party at
tackled - We y 1iten forced to remember o h : aniago-
mist that which he would willingly 70 pet-and that il
wo were 10 Judge them by the same harsh law they
apply to us, the reiort would be equally easy and deci-
slVe. Take i"r instance our excellent friends the En-
glIsh, many OF whom are rather prone to deliver Ice.
tnres ah nj the ~inidelity Of republican institutions
they would be startled perhaps al being told that the
iirSt and greatest violation of faith 10 public creditors
kno"n IN Modern Europe, was committed by the Gov
England. Bat it is h historically and literal
" true. The very foundation Of their whole debt is
an cnorm0n wrong.
The FIRST item of II is a certain sun Of G66 800. Of
8 per cents. You recullect the history OF this. The
government had borrowed. partly Gr the use OF the
navy Too, a sum Of El ,53S,526, at 8 per cent. on the
security OF certain assignments of the public revenue.
The payments We're stopped, first for a wear. aud then
indefinitely. Tho public creditors. many Of whom
were Famed applied for redress TO Parliament, but in
VAN. They then went into the courts, and after II
years, attained judgment against the Crown. The
Chancellor reversed the decision Of the courts. The
House Of Lords reversed the decision Of the Chancel-
Tor and the creditors now hoped 10 recover at least
Their dues. which amounted. with the accumulation Of
% years interest. TO E312S .526: but nj the last mo
ment they were met by an act of Parliament, declar-
ing that they should receive only 3 per cent. on the
principal, ard that even this principal might be redeem
ed on the payment Of one half Oft. Thus was a debt
OF abo1t seventeen millions Of dollars, at g per cent.
reduced 10 3 millions. AT 3 per cent. An Injustice run.
Ingn thro'a period of 25 years, begun by The prof ,pacy
o iChares II, but c-Onsunmated by the grave and re-.
Specialize Parliament Of William 40, Well may Hume
say Oft, thai u was "a forfeiture Of public credit aud
an open violation Ofihe IN st solemn engagements. both
ioreisn and dumesiIc.' Well may Bishop Burnett call
t"d dishonorable and p~erfdious action;' and well one
OF the mpst enlightened 1rsign travellers in EnglanI
declare. such was the disgrlceful beginning If tho pre-
sent debt of England" So much for the first loan
made % England.
VOW az 10 The last lD1ns, lot MS compare the conduct
OF America and Of England, with regard 10 public credi-
tors M our own time.
You know that the whole debt Of the United States
more especially the iOrcIgn debt contracted during the
revolutionary war-that incurred during the last war,
and that Tor The purchase Of LOUISIANA and Floridn-
amounting in the whole % about one, hundred and
eighty four tl5D millions Of dollars, were all paid.
principal aud interest. 10 the last cent. The very throe
per cents being paid OF AZ par. /
In The year 1917 the United States were in the filI
career Of this raimhursemcnt. when The Government
Of Great Britain began BY f]orbidllng the Bank or Fog
land 10 pay specie; AMI then borrowed 81, much from
NE Bank o. 10 cause The multiplication of rs notes. and
d. degrees n depreciation Of them. ul in 1911 they
Dad reached n discount Of about ten per cezt-Ip or.
DEC 10 sustain ttcm TIE House UfCU DmJns Then sIopL
Cd one Of the most eylnorliuly proceedings On t7
nis''y ol Iosislluon. u passed "a resolution, That the
H'icso iI" Bank ofE1slanl have been. 1ul are at this
an- hcld in public estlmaupn equivalent 10 the Ic,1l
com oiiHo value. anil generally acccpcd as such ia !
lI p'rgulIry trius8cuons % which such rprn b. Lava. .
iIiy applicable. It o. this which ToJkc calls Mr.
'1nsiiirus resolution of unhappy celebrity" and II
which thc EiinAursh Review Jeupunces ls AN ever
memorable" ros'Iuupu. % RESOLUTION which ipJk tor grant \
rI Tint n part VS. equal IN the whole. and ninety
pounds ali one hundred pounds were che slmp thing" \
bod d""i1r'I % was passed. when Eufnals were not
'1'I.y bought az re- premium. lui bank n0tes were on
poo open dls.Irut 8s compared wIi gold IrI bullion. \.
d upoa.ds .l ZEN pr zen. EI.lyIa.llrsI an de.
lanre o., n0 fact. rI1t t1a ay:F .afC 70 llf. % ramtr1
~ 10 iJrro every bJdv f1 take hen o. plr. and % p1,.
sh everybody Who took hen l'i-S han par accord
ngiy Parliament c1Ictcd =
] TINT the notes shoull b. o Icgtl tonIor 6r an :
2 That wh1svrr .aold receive Or ray f9r any p,I s
'y more flI1 rs lawful value. whether such ld.I.fl11. !
'iit VFs 10 other ,0.ls ,r u .aus n'.es. sloIB Y