Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1840-01-14

Of national industry for years to come,
Land securing to PROSPERITY no adequate
return Br the comfort which the labofs
ofitheir hands might otherwise have secur.
ed: It IS not by the increase Of this debt
that relief is to be sought, but in It's dim.
mutton. Upon This point there is, l am
bappy 10 say, hope before US, not SO much
"a The return Of confidence abroad, which
will enable the states TO borrow more mo.
ney. as il a change Of public feeling at
| home. which prompts our people to pause
IN t!.eir career, and think Of the means by
which debts are to be paid before they are
contracted.
If we would escape embarrassment,
public and private. we must cease to run
in debt, except for objects Of necessity, or
such as win yield certain return. Let
the faith of the State corporations, and
individuals, already pledged, be kept with
the most punctlious regard. 1t is due to
our national character, as well as to JUS
tice, that this should on the part Of each
be a fixed principle of conduct. But il
behooves us ak to be more careful in pledg-
ing it hearafter. But ceasing TO run in
debt, and applying the surplus of our crop
and incomes TO the discharge Of existing
obligations, buying less & selling more, and
managing all affairs, public and private
with strict economy and frugality, We shah
see our country soon recover from a tenn
porary depression, arising not from natural
and permanent causes, but from those |
have enumerated, and advance with re-
newed vigor in her career of prosperity
Fortunately for us, at this moment.
when the balance of trade is greatly a
gainst us, and the difficulty of meeting it
enhanced by the disturbed state Of our
money affairs, Ethe bounties of Providence
have come to relieve us from the. conse-
-quences of past errors. A faithful apph-
cation of the immenseresults of the last
season will afford partial relief for the
present. and perseverance in the same
course will, IN due season, accomplish the
rest. We have had full experience in
times past, of the extraordinary results
which can, in this respect, be brought a.
bout IN short period, by the united and
we'll directed efforts of community like
ours. Our surplus profits, the energy and
industry of our population, and the won.
derful advantages which Providence has
bestowed upon our. country, in lis climate
its various productions, indispensable TO
other nations, will, in due time, afford
abundant means to perfect the most USE
ful of those objects, for which the states
have been punging themselves of late
in embarrassment and debt, without i'm
posing on ourselves or children such fear
| ful burdens.
But let ii be indelibly engraved on our
minds that relief is not to be found in ex-
| pedients. Indebtedness cannot be lessoned
by borrowing more money, or by chang
ing 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 sometimes appear 10 give tempo.
.rary relief, they almost invariably aggra.
vate the evil in the end. II is only by
reirenchment and reform, by curtailine
public aRd private expenditures, by paying
Our debts, and by reforming our banking
system, that we are to expect efectual re
lief, security for the future, and-an endu
ring prosperity. In shaping the institu
tons aud policy of the General Govern.
ment so as to promote as far as it car
with its limited powers, these important
ends, you may rely on my most cordia
cooperation.
That there should have been, in tht
progress of recent events, doubts in many
quarters, and in some heated opposition
to every change, cannot surprise US
Doubts arc properly attendant on all re-
form and it is peculiarly in the nature
ofsuch abuses as we are now encounter.
ing, TO seek 10 perpe;uate their power tc
acquire. II is their result, if not then
object, to gain for the few an ascendency
over the many, by securing TO than a
monopoly OF the currency, the medium
through which most of the wants of man.
. kind are supplied--to produce throughout
society chain of dependence. which lead:
all classes to look 10 privileged associa
tons for means of speculation and ex
J trayigance,-to nourish, in preference t,
the manly virtues that give dignity I,
human nature, a craving desire for luxu
rious enjoyment and sudden wealth, whicl
renders those that seek them dependent Oh
those who supply them--to substitute 70
Republican simplicity and economical
habits slckly APPETITE for effelninote in
diligence. and an imitation OF thai recly
less extravigance which impoverished an,
enslayed the industrious people of foreig
: lands and at last, TO fix upon us, instea
ofthese equal political rights, The acquisitio
of which was alike The object and suppo
sed reward of our revolutionary struggl
system of exclusive privileges confeTre
by partial Legislation. To remove the in
1uence which had thus. gradually grow
up among us--to deprive them of thei
deceptive advantages--to test them bI
the light of wisdom and tru,h--to opposl
the force which they concentrate in ihei
support--all this was necessarily tie wor
time, even among a people so enlighl
ened and pure as that of the United States
In most other countries, perhaps. il couF
only be accomplished through that serie
Of revolutionary movements, which ar
too often found necessary TO effect an
great and radical reform !. but it is III
GROWING merit of our Institutions, tia
They create and nourish in.ihe vast major
: lily Of .ourp people, disposition and pove
peaceably 10 renaed y abuses which hav
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