Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1840-01-13

WATCHMAN d, STATE JOURNAL.
MONDAY, JAN. ID, 1910.
DEMOCRATIC WIG TICK EFT.
FOR PRESIDENT,
WIN. HENRY HARRISON.
or ONO
FOR VICE PRESIDENT,
JOHN TYLER,
OF VIRGINIA.
TIE MESSAGE.


We have given this document ut length and
ere this those of our readers who have peruscd
it have undoubtedly formed their own opinions
and made their own comments. IT is not our pur-
pose to impose upon them any opinions or com.
tnents OF our own, upon the various topics sug-
gosted in that document; but rather, to advert
briefly to n single point When President JACK.
SON left the Executive chair, it was his boast that
he " left this great milton prosperous and hdPpy"
Three years have not yet elapsed and we find
the man, who was pledged to 60 walk in his foot
steps" is now authoritatively announcing that the
nation is nal prosperous and happy that its cur
rency is strangely disarranged that the nation is
weighed down with an immense foreign debt -
that both the government and the people are pc
culiarly embarrassed in all financial operations
This is truth sober, solemn truth aud the use
which is made Of this truth is the point, to which
we would advert. The President first lodges the
responsibility of this mass Of evil; and finally us.
es i, as an argument by which to induce the pco-
pie to assent to the use Of the sub-treasury as
remedy In this, there is vastly more of ngenui-
~ than honesty. Nhat-for twelve years has the
party in power been hard at work. mending the
currency aud regulating our commerce; at the
end of that twelve years the people are in an IN
finiiely worse condition than at the beginning 3
and yet our President contesses no responsibility !
| That Inrty has had The power in both Houses OF
Congress; it has had the Executive; it has even
controlled the Legislatures of majority Of the
states il has at one time taken under lis protec-
ton the state bark interest it could have done
every thing for the pros erity Of the people: bur
the people are not prosperous and the President
very kindly inlim0tes that the party is no, to blame
! This will not do: the government must be held to
las responsibility. Those in power have neg Iected
The good which they could have dene they have
rushed headiong into evils which they might have
prevented. 1t is vain for the President to charge
these evils upon this thing or that. The regua-
ton of the currency belongs to the national gov
eminent; the po,Cer to do it resides there, and il
is not DONE us the President confesses it has not
been, the heavy responsibility is there. 1t is worse
than vain for him 10 charge these immense evils
upon the vast extension of the paper currency
the rage of speculation in lands and the conse-
quent imitation of prices: for he, with his coadjn-
tors, is responsible for doubling the banking CAPT
Itul-ioi eAphtieiDHs vi PupOi III ou'
ding nineteen millions of governments paper and
for leading in the wild chnse of speculation.
Btu what shall be said of the very ingenious.
attempt of the President to turn this very wrong
to tie advantage Of the wrong-doers? 1t is d
maxim in the halls of justice, that no man shall
take advantage of his own wrong. As a lawyer
Mr. Van Buren, will confess the soundness of the
maxim rs politician he reverses it. He con
iesses the ills we bear he urges us to plung,
bIindly into those we know ncugllt Of Ten years
of experiments have brought us to the brink oftb
precipicc; let us take the leap; let us cap tn,
climax of evil by investing these unlucky curren
cy linkers with absolute control over the matter
when things at the very worst, we know ih
degree of badness cannot be extended. This il
Inc upshot OF the most important part ofthe Presi
dents message. The following, from the n Y
Express, touches this point:
In this Message what is remarkable is the &C
acknowledgement OF the evils of the present state @
the currency without an acknowledgement of III
causes that brought on these evils. In reading
we must bear in mind
LIST. That ten years ago when Gen. Jackson be
gan to experiment upon the currency, with III,
solemn promise OF making it better
There was not so much Bank Capital by on
third rs there now is.
CJ-'rhcre were no State Debts of any importance
W There were no alarming excuses of importu-
tons.
10 There were no suspension of specie payments
DC5- There were no irighiul fluctuations in tn,
currency, in the rates of Interest," and Domestic
Exchange. For
,L}7A currency then existed the like OF which 70
the extent Of Territory in which il circulated
and the interchange of commodities it affec ted
was not known in the world.
2i. We must bear in mind when Gen. jackson
aud Mr.. Van Buren, solemny promised to make
this currency thus good, better than it was,
10 That all the Wings in Congress predicted
,ES~An utter disnrdCr in The Domestic Exchanges
UF|An excess of imporiatious Oh account of al
uurcgulated currency.
w Suspensions of Specie payments and Bank
ruptcies nnunemble, and
10 great increase OF Bank capital and Bank
circulation, with great excuses OF credit.
81. We must also remember, that all these evil,
oien justly complained of, are the evil results of
rash ard fatal experiment supported by Mr. Var
Bureu, though Often tUrewarned OF all It's alarm
ing consequences.
We ask then are the artfcers OF Evil so to prof
IT by that evil rs To be justified in Selling the con
troi oi' the pubic purse, and in creating one cur
rency for the Government, and another for the
People?
Ofthe dangerous tendencies of unchecked stat,
hanks, every Wing is, and always has been aware
In 1884, this was the whole burthen of the Whil
song, The Federal Govesnment is, however
wholly powerless in this respect over the States
Its example even is nothing. The States viii
make as many hanks as they please and when on,
dies two will take lis place. No Sub Treasury will
do away with one bank made or, in high stat,
OF credit, check them in their expansions I'LL il il
TOO late. When the banks suspend all their States
will p, olecl them, even the Locofocos as in Ten
nessee, Ohio aud Virginia. and as we shall SEQ il
Pennsylvania. Suspensions take place with i'm
punIy. The only remedy is in making it impos
sible tor the banks so to expand as to suspend
which was the remedy prior to 1884. When MIR
Van Buren, takes the back track for ten years, The