Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1840-03-03

II sgsne ufu ffffuftrsn So deffaud TIE funilff
~ o. tuznurt ia wh.rh % u sIUasn - BOT q
~ oo-sSlsicui Srh batiness. and wherever
tiscfe - o. has lecu t0siuu.s, thefv credit has
slwars srissef. snd has becn, aud vii be sbu-
sod 20 q .rraief of less sairni CANNOT
eusaprrhsni iou cofnuettr - trade can be
esrstea On successfully without a. Aioiish
cYsAn aa,f 'os What ficrsuao the false pol
.cy a she Adnaassirsifan 81 ISL % stimu.
lated u - crrces Because, ike tAe irccd0in
~ s,rsrt ard II lie Taess, u NAV ~ abused
sno~ ~ ~ other period against which any
general ard tue charge can ic brought --
Nhai vuB3 w. tlr condition II iIe country u
men were dcu,cd credB Nothing more DE-
plorsb.e.
Ils yosur man bora b. 90 Inheritance now
pcs into TIC world ~ath kis character for bon
cav and Integrity lus j. his great and only
rcs0ufcc and by The faith placed ia Ibis be
oesnman3s the iuo1s nccesssry 30 50 forward
IN businoss. And. Nr. President, It Is one Of
the glorious chafscicusiics ~ oar institutions
thai this path ~ open 50 enterprise, and toe
way 70 wealth, a. well ~ 20 honor and fame,
- clear Of olsituciI1ns ioT the most obscure
and humble individual Shall We deny 10
such iho only chance ihoy have Of success -
Shall We ,raing,lo on t1sin, and grind them 10
dus, With il.c iron hosl oi power Ne, sir, !
will vote for no las thai declares to toe pour
that they shall remain 10 hapclcss poverty.
and 10 ilic RICH lla, tl.ey alone shall have uie
enjoyment 81 property.
Bot speculation is 10 he pU, down. II the
senator means by speculation, un~ise and
hazardous traffic, Il has always existed aud al
WAYS will eKisi. where cuierpfIye exists, unless
ho can upt0o, ~ tho human mind tie desire
for sudden acquisition Of wealth. lie might
as well undertake 10 sop the emotions and
passions Of ,De hunan heart The only way
10 make men pradcnl and sagacious ia bust
ness--and u O. yur} desirable they should be
so--is 10 nzkc them see f8r enough into the
future 20 avoid ruinous hazards bu, the rash
who ofca have passion COZ wealth, will in
dulge llusive hopes and make rulaous bar
gains. unless tie senator caa enlarge their IN
dcisiandings and increase ihcir sagaciiy
There Is hu, one process 10y which credit
ard speculation can be suppressed. and that is
by denying the means and facilities of bust
ness--noi TO spoculaiors alone, hot 10 all; and
that ~ exactly what tho argument Of the sen.
a,or tends 30. lie proposes 10 diminish the
Circulation 81 money, declaring hat there is
too much Of ~, while al the same time we are
crippled down by ~ scarcity. lie would d.
minish, 30 a vast extent the resources and a.
blli,y Of Lenders, when the public is in despair
Tor want Of circulation. He assumes that d.
mInshing the currency will diminish wages
and the value Of property, and SO it may be
hui tir first great and abiding result will he
diminu,ion Of business. His theory abol-
ishes credit, and leaves nothing but reduced
currency 10 do business with, and no one can
deny that q reduction Of business must follow.
Is the country prepared ior;hls Do we grow
TO fas, Is or enterprise too great DO we
lzha 90.
drink or wear Are our comforts and enjoy
menis 50 multiplied that a sound policy re-
quires they should be curtaiicd Let him
who Is willing TO be pared down first stand
forth and proclaim il. Wages arc to be d.
mInishcd by cunalling the demand for Them
for that is the efiec, Of reducing business
The senator, IN his argument seemed 10
forget that the evils of a contracting and con
iracied currency bear as oppressiyely upon the
public. and mole SO, than those Of expansion
The difference is This IN expansion. the
weigh Of loss falls on the creditor poriion--in
contraction, upon the debtor portion; hut. in
either case, 1t is prievous calamity lie
cannot reduce tie currency below what is nc
cesssry, without even more suffering than a.
rses from too much.
The senator from Mississippi Cwalker) goes
Tor the abolition Of paper. The quantity of spc.
about $50, 600 600 the President puts i, a,
ss5,0o0, eco. This, he argues, would ensure
great reduction Of wages and Of the value
al property, which be insists would be hene-
heal. The senator from Missouri (Benionl
~ also Tor meta alone and these gentlemen
have bestowed the highest encomiums upon
The policy oi the hard-mobey countries The
latter Is enchanted with the fact iha, the Hol-
nndefs have grown rirh and become great
lenders Of money, while we are borrowers
and ! viii solve for him this enigma upon his
own principles, lie impuics /, To gold. and
inicrs that we should bo lenders if we had a
metallic currency only
Who, Mr. President, are the lenders Of Hol-
land Those individuals who have amassed
millions who al one time owned most of ih,s
city, and who can buN up empires with their
boundloss wealth, having pruhled by state of
things which made The privileged icw rich.
while tls many are lcii poor--while tie Ia
toret, as can prove, gels but his Sd and 81 a
day. This is the last policy we desire the
last that would te IN harmony with the cen
ius Of our people ~ IN unison with their ,rue
Interests. II u dIfiusre wealth irsi We de-
sire general prosperity among an proper
~ scattered everywhere, aitainable by al thar
deserve 81 and thus inviconiing a successful 4
saassne-s, "a ~hirh all mas participate. instead 1
81 smAsslng u IA the packets 81 a few We
are borrowers be Il 50. n j. better, infinite
" better, 20 borrow, and thus difluse capital
u excite industry and enterprise. Than 10 an /
as II ia heaps ans bceomc i,Bdeis 10 nations.
with nation Of paupcrs Al hesnc.
Bui, sir fear ] have iweli ton long upon
,hess matters. and viii hasten 10 notice Thai
for whieh ! chilly rose Much has tecn said
Of issof, ami What ls u ] mas say, without /
- a.. a.