, 1840-07-11

The preliminary steps arc already TAKEN
An expansion Of the paper currency has com
menced, to be followed at the proper time by
a sudden contraction, and the consequent
stoppage of the banks, and the general de-
rangement of the buiness of the country S@"
But the next suspension may not be so
easy a job as the last. The process of re-
sumption has developed a division among the
banks. We have seen a resumption and a
non-resnmption flag: in the next attempt to
close the vaults, we shall seeIa suspension and
a non-suspension flag. The BUSINESS banks
will resist the suspension; the political ones
will force it, if they can; and, in this division
among themselves, the community and the
laws will find and auxiliary in the non-sus-
pending banks, which may enable them to
Illustrate the Vaccinations Of the architects
of mischief"
Sir, this is what ] wrote, but not the
whole of what | wrote, in the month OF Octo-
Der, 1898; and the month Of October, 1889.
saw it verified to the letter. 1t saw the
second suspension. and it saw the two flags
the suspension and the non-suspension flags.
1t saw the divispn among the banks, and
the source Of that division in the two cities
OF new York and Philadelphia. 1t saw the
mistake in point of time corrected, and the
distress transferred to the fourth year of Mr..
Van Buren's administration, which had COM
menced prematurely in the first. All this it
saw, precisely as | had written it down twelve
months before. And now, here we are, on
the eve of the Presidential election, with this
suspension, and all its ,vils, bearing upon the
country, and intended to tear upon it, until
the election is over. Bad enough is the
state OF things now: worse they will be, be-
fore the month Of November is over. Those
who have done these things are able to con
tinue them: those who have made money
scarce, and the price Of labor and produce
low, are able to make money still scarcer.
and prices still lower; and it will suit both
their pecuniary and political interest to con-
tinue the process Of scarcity and reduc
ton until after the Presidential election is
over. The country may look out for ad-
vertisments that SO much will be given for
produce, il the election goes one wav, and so
much (being the half Of the other price) if it
goes the other. Laborers may look out for
similar advertisements with respect to their
wages; and all that is threatened in the way
Of reduction, will be performed. Avarice
and Federalism will :%ejoice in the double
qualification Of deluding the laborer and the
farmer out of his vote, at the same time that
he is plundered Of half his pay. 1t will he a
double enjoyment to rule him, and plumber
him at the same time. This will be kept up
until the election is over. Soon after that
event, land il is perfectly immaterial, for this
purpose, which way it r~esults,) the new ex-
pansion will begin. Prices Of stocks, pro-
duce, and property will all be run up, in or
der that those who have purchased low may
sell high. BY the middle Of the next Pres
idential term, the expansion may be carried
high enough I, begin again the business of
contraction, and to be ready for another
suspension, and for fresh distress for the Presi-
Dental election of 1914: and thus we are TO
90 on, the country and its business, and the
political rights of the people, a periodical
prey to the polite ] banks and their con-
federates, until a bankrupt law shall put an
end to their nefarious and lawless practi.
ces.
1t is the fundamental maxim Of the money
ed power, all over the world, that the people
must feel betnre they can see-that they
must suffer before they can understand
that they nre ignorant and capricious-and
blind enough, and weak enough, to be at
once the victims and the instruments-the
dupes, and the agents-of those who abuse
them, and use them. This is the fundamen-
tai maxim Of the moneyed power; and upon
it they have often acted in our country, and
never more fagrantly and systematically
than since the veto session Of 1882. Since
that time we have had a continued success.
sion Of panics, alarms. and distresses. all con.
trived for political and Pecuniary effect, and
charged by their authors upon the measures
of the Democratic administrations. Partial
and transient success has sometimes attended
this parricidal conduct, but nc lasting or
general impression has been made. The
people possess discernment with which they
are not credited and see through the veil which
was intended to conceal the hidden opera
tors. They have always seen the secret
hand which was fabricating artificial distress
for the country, and %concocting humbug rea-
sons TO bamboozle the ignorant. They have
seen, and d~espised all these tricks and de-
vices, and so it will be again. They will see
that the presen, pressure and distress is ar
..c l ,h,t q, 10 ,l,nnaJ