The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1840-08-07

sition within the last few years. that we understand
their object. You want, gentlemen, TO get our
votes and then you could control our money; but
wing panic speeches fall slill-born upon us.
| will so to the laborer, says the gentleman, and
what will he say' Why, ! formerly got money
that answered my purpose, but now | am out OF
employ and my family is starving.
Men starving in Pennsylvania Sir, this is news
to me. | thought the complaint was that grain
was too low. This is certainly what was said TO
the farmers. Since panic has been attempted 10
be got up here, have frequently heard from home
On the subject Of labor and wages, ind find that our
mechanics are well employed in my immediate
nsghborhood at former prices.
Ihls Is perhaps, an exception to the general rule;
and the reason is obvious. He have no bank near
us, nor have we any thing do with them. Every
man keeps his own money, and no bank marks our
cheeks good without paying the money. Ne don't
build, nor employ mechanics of any kind until we
ere able to pay for what we get done without going
TO bank for The money Our business Is therefore,
regular | have been watching the course o! events
for the last few years, and have noticed the chan
ges and fluctuations that have taken place, and am
of the opinion that the embarrassment of the coull-
try is owihg to oyeraction By banks, to their I'M
stcadncSs in their accommodations to the business
community. find, generally, where men are
thrown out of employment, that ii is for want Of il
continuance of bank accommodations TO carry on
business. Too many of Ow business men depend
on bank loans to carry Oh their business; and when
that Is withheld, they are compelled to discharge
their hands. 1t is lamrntublc truth that the
banks have too much control over the business of
the country, and therefore can produce panic at
pleasure
81 don't like hard money" says the gentleman.
81 would rather have paper; it don't wear ont my
pocket so much. " hy shall the people be coil-
PEELED to buy silver 10 pay their debts He have
too much gold and silver in this country. !! chave
erred in this, rs in every thing else. Eiily-iivc
millions of your foreign debt is occasoncd by the
importation of gold and silver. Send back your
fiily-hvc millions and pay your debts, on which
you have to pay D3 300, 900 interest.
From the gentleman S account, we have erred
in this, then, said Mr. d., lis in every thing else
that is, we have committed an error by bringing
gold and silver into the country instead Of mcr-
chandisc, Times change, and with them gentle
mems opinions change When the gentleman re-
ceWed $50, 900 for going TO England, III agent for
the L. States Bank, to bring in specie, it was all
right to bring specie into the country; but now it
is all wrong.
One thing presume is certain; no man that
heard the gentleman will charge him with being n
hnrd money man. The only thing for our consd-
Grafton, on this subject, is, was it better for the
country to bring this money III gold and silver. or
merchandise The states have created stocks
since 1920, amounting to $i7i 6S6 1914, aud over
which the general government have no CONTROL
They found their way to Europe. The above a.
mount was all that was brought over in specie, and
the rest was brought over in merchandise, One
of the great evils that has afflicted this country has
hnn,,
would have imported flly-ive millions more, in
preference to the precious metals. Such is his
aversion to hard money. Perhaps the expectation
Of hard money is advocated to Justify the United
States Bank in exporting specie, as she has done,
to the amount Of @S,7l2, 900, in about fourteen
months. This seems To he carving out the gen
tlemnn's principle in fall. Al the same time that
the gentleman advocated sending this iTv-Iiyc
millions Of specie out of the country, he also adyo-
Gntcd National Bank, as well ~ some slN or clghl
other gentlemen. Now, sir | want to ask these
gentlemen whether their bank is 10 have specie
basis and if 50, where is it come from? From
the best estimate that ran be made from the stats.
tbs Of The country, the amount Of gold and silver
in the United States Is about cighy-liyc millions,
or this, D33, los ,j5 is in the banks as is shown
by their last return and the rest is in circulation,
or in the hands of the people. The proHct Of the
gentlemen from Kentucky, Nir. ropc] and the
only one submitted, was fora seventy million bank,
50 restricted that it should only ssnc two dollar. in
paper for one in specie. Under this plan one of
two things il certain: either th'i Your circulation
will be small, or YOU must Ilayca large specie ha-
sis. And where, ask again, is it come from ;
Can You GO, what is in the hands of the people /; !
Or viii You, after all your professions of friend
ship for the state Banks, receive their notes in sub
scrpton for stock, and then call Oh them for their
hard cash Or will you 90 10 England for it, and
increase the Indebtedness of which the gentlemen
complains; These are questions worthy Of your
and l. for one, would like to have
them answered. Creating more banks is Ike feed
ing Nesuyius with oil-you only increase the fame
The gentleman has furnished us with long uc-
count of the expenditures, and also Of losses, by |
The agents of the government, from il commence
ment. In this the gentleman has minated his par
~. lie has dealt in generals, and not descended .
10 particulars. ! have also looked over documen,
No. 10, of the present session, and find that the
amount lost by dl'hurslng officers, exclusive oTirusi
unds, and payment OF the pubic debts, are as fol-
lows, to wit:
'chcrai W hShlhg'ons hrs' term, IL cents per
loo, second term, y cents per Sloe; John Ad-