The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1840-05-30

stocks aud bonds, now resting there in
pledge for advances of money!
Such proposition as it seems to Us,
should starlle the whole American people.
II is bold attempt, upon the part of for-
eign bankers, to compel the government Of
the United States again to assume fearful
amount Of debt, or to punish the States of
the Union by refusal OF further loans, and
depression Of their securities now in the
foreign market.
We have spoken Of the danger Of for
eign influence pervsding our country, aud
exer;ed through the power Of money. Can
we have any stronger evidence of the exis-
lence Of that influence, and Of the disposl-
lion to exert it, than we have already Civ.
en-. When foreign bankers call upon
the Federal Government 10 endorse for the
States OF this Union, and threaten them
with a suspension Of their credit, in case
that endorsement is not procured, can we
measure the influence which is exerted from
the same quarter over private and corporate
debtors in this coBntryl
If then. these Influences or foreign debt
are All evil to be deprecated; if our expan-
sions of credit at home have been exces-
sive, and require to be checked; and if both
are objects which call for the serious conf
slderalion aud action Of the people of the
codntry, to which Of the existing political
parties are they ID look for remedial poll
Cyl,
The univernal suspension Of the banks,
in May, 1887, met Mr. Van Buren at the
,ksaah,lJ .,c ~ -. md frnpo
that moment to this he has been laboring
assiduously 10 lay the foundation for more
stable basis for our currency and business;
a foundation equal and just to all, and rest
ing upon the Constitution of the country.
Ii has not been the object of his policy, as
is falsely alleged; TO destroy credit; but to
make credit safe and dependable; not 10 o.
verthrow the banking institutions of the
country, but 10 separate them from the man
agement Of the public revenues, not TO Grip
pie commerce. butto give commerce stau-
dsrd of currency 80 far as the action of the
Federal Government can do it, which shall
not disturb it by expansions dictated by pri-
vate interests aud monopolizmg efforts; not
to suspend trade, but 70 restore il to heai!h-
tul activity, and give it sound and stable
circulating medium TO sustain ilj not 20 de-
press the wages of labor bnt to afford the
the honest laborer full and constant employ
menl at fair wages and 10 secure to him the
pay for his sweat and his toll, in curren-
cy upon which he may sleep quietly, with
out the fear of finding it dross in his pocket
when he rises in the morning. Such is our
policy, and that of the administration we
support!
OF Gen. Harrison and his policy; upon
all these important subjects, we have alrea-
dy declared we can say nothing. Silence,
profound and uhbloken, is the order at pres
ent resting upon him, and we have already
expressed our inability TO raise the latch
which closes the door upof his opinions.
OF the lavorite policy of his party, how
ever, we can speak; because in this ancient
party, dating It's existence from the admin
lslration OF the elder Adams, and never more
apparently confident, since the time III his
deieai, than at this moment, there have
been, and now are, open doors and unseal-
ed lips.
This party, then, would create new Ma
tional Bank, with the vain hope of still tars
lher expanding our present system of ex-
| cessive credits. They would not only in
crease the State debts, but they would pros
ecute system of internal improvements
under the authority of this Governments, to
be extended within and through the States
at is pleasure. They would take from the
General Government some of is proper
sources of revenue, at time when the Ma
IlOnal Treasury is driven to loans TO supply
the ordinary demands upon it,and would bor-
row money in Europe, or increase the tax
es upon the people, or both, to carry out
their plan of more splendid admlnis,ra-
Ilon. Aud, finally, they would deliver over
again to the banks, State OF National, all
'he revenues of the country, subject TO be
used by them with the inevitable conse-
quence of increasing bank expansions, un-
III Lhe appropriations Of Congress should
call for the money, and then 10 be the cause
OF, or lliC apology for bank conlractions, to
an extent far beyond the amount of money
involved.
Before we dismis the subject, We cannot
lorbear 10 refer TO the well known fact, thai
large sums of money have. within few
years past, been expended upon elections,
with a view TO override and defeat tae wish
es OF the people. These contributions are
manlteshy. from the evidences Of their ef-
fec's, so large in amount as to excite the
most painful suspicious ss to the source.