Columbus Democrat., 1840-05-30


been 4enlsd the night u increase rs receipts by ah
increase IN the rates Of postage, state ol ihhe'
produced bv which i Is Compeucd To pay one '"'"
sani dollars Tor a SerNicc which. ten yearS ago'e eodd
have hcen perf,rmeH for one-haithe amount. \
contractor wha, IN 1859, would have carried We
mail from Washington 10 tTedetck Tor Two taoos-
aud dollars, would, in $780, dcuand twice ua' =
mount because his coaches and horses cos nun
double, and he must necessarily pay ,weo Ihe usual
wages 10 his drivers This grows out 90 an ihet'ast
in The amount Of paper money; which, however
does not add 10 the current receipts of the btpaf-
mcnt. Under al these embarrassing ctrcum> "h'eS
Il IS not wonderful that the expenditures are ihC'ea-
sed the wonder rather IS that the Dtpartmee VI
should have been enabled 10 sustain itsc.i al ait
And that which IS true IN regard 10 the Post uhce
IS more or less SO IN reference 10 a the Departments
Of Government. | am aware, MI Chairman, that |
shall be met at this point with the stefeoIyptd de-
caraton that the Government IS responsible 10 The
people ia this norlnate issue OF paper muney-thlt
il was the legitimate consequence Of removing the
depnsitesand yetoug tie Bank oilhe United States.
Upon these points shall at proper ltse, take IS
Sue with repllemen, and euJc1vor 90 demonstrate
the error into which they have fallen; AT present Il
would perhaps be wandering little too far from the
record To On of upon these collateral and To tins
! bil immalerial, issues Though viii not now un-
dertake to show what has not produced the present
| and pre-eXt>tnp state of affairs, yet may not eN-
pecI the pardon OF the committee, It ilgrcsS for
moment for the purpose OF showing what haS, "a
nv Judgment, been the real and main cause o their
| production? Coming ifoma state upon which the
evils Of the day have fallen with more severity tan
| uDop any other portion Of the Union, or o the world
and having been no idle observer of the grand pdRo-
! rama which has been exhibited IN that country, |
| 6nry that can speak with some degree OF aSsu-
rance as to the causes which produced MS ial' and
point with some certainty to the pencil with when
! The awful picture was FIRST marked ont leone rom
a section of the Uuion the mnst depressed and de-
pIorabe in ali it3 monetary relations ct any part o
his vast and deeply afflicted Republic, aHordng a
theme fruitful to ihe political economist, and pre- EN-.
ling a melancholy example Of the folly too often
praclised Of rabsractug capital from rs active pur'
suits and Investing ii in unproductlvc property
Mississippi can produce more real exports. than tht
same amount Of population in any part OF the habit
able globe; and yet, with all her energies we hnc
her in time ofproiound tranquility, with the ports
of the whole world thrown open to her great sta
pies, PROSTATE, wrthlng under load OF oppression
10 the Sustaining Of which, with all her energles,sh'
is found inadequate. How and why is this Le
MS not be told that II grows ont Of any acton ol th'
rederuI Government on the subjects o banks an,
currency II vii find its origin IN another quarter
in too hasty, and, fear, an improper disposition
the public lands. From the year 1888 TO 1886, tn
indian title to vast quantities of the most productv
territory was extingulshcd and il became the polio
OF tho then Admnsirtton-a policy almost unver
sally approved by all partes--to hurry those land
as rapidly as possible into market. Most Of thcr
"cre situate 10 frontier, ur at most, N sparSel
, populated country. The wants OF the settler, III
, sturdy pioneer olthc South and Southwest, who's
little settlements here and there dotted the face OF III
wilderness were soon supphpd, and vast terrore
, | l,ft j., Drsluettvp snI n NnrIlt America tba
, having been offered fr sale and refused NOW re
acre ths opened field Tor specu,a 400 ,oo ii"
, ting long to remain uuobsetyod, and the goln
eyes Of avarice were turned upon it tide OF enl
, grants, from all parts of the country, flowed in
5 gaddenng the wilderness for season, and film
= the land with Joy. They, in their turn, purchase
. their little homes, and seemed contencd, The 50
g was 10 them what property IN general was to on
= first parents, a common stock aud each ndlydn'
t | to himself appropriated, for an almost nominal sun
If such portion as his wants required But tins stat
t. OF things did not long continue. Large companil
4. oC land spectators, chiefly merchants from YOU
Ir Eastern cities, were organized, aud vast sums
ID money consolidated and sent to the Southwest tot
lr invested in "Wld lands, that were wholly unpf
d ductye; thus abstractng from tho current husne
ie portion Of IFS necessary support, TO be nFe>t'
,e where il could by no possibility, produce one doll
n and unheaIthness in he channels from which i h;
been distracted, and giving no additional ygnr
a the other departments OF business, the lands ben
~, purchased or speculation, bDd not Tor cGluYata
., When his species OF deyourlny ocusts came amoi
", us, and began their work Of demolition on the pa
- lie domain our hitherto quiet and coHented ,itlz
"a became changed IN his nature; the serpent h
- crept into his Eden, and for the first lime he co
=, ceived The new idca Of making bis fortune by la
o iobbing, rather than by l,Ing the soil. portit
y nav, the whole Of bis surplus cash WHOA might b
~ ter have been spent in improving his Iue farm,
dscharging some honest obligation, was invested
V, wild aLd )" the pcrncions example, ike all OF
L.! | ers of similar character, was followed by his con
.r ding neighboF. To morrow some wandcrcr if'
= his native hons in search Oi The new Eysinm, fin
this land Of promise pleased with the soil, and :
n more with the generocs hospitality olits occupan
>, he determines to take up fs abode. Land pnrct
sed at the Minimum is sold 70 our honest adYen
- rer at twice that sum and he soon becomes rel
-, larly installed into ali the mystericc OF living wthC
~ work for he, in his turn, 10 make penny IN
~ ~ honest wsy, sells the same land for five dollars
,o acre The news sweeps over the country Ike
IA electric fash; the story Of the grand speculation
~, on every tongue, and the same land IS scd Tor
'o dollars per acre. This is loo much
of "The banner is flung to the wild winds free.
lie Fortunes are 10 be made by speculation. I
- horn Of plenty is inverted, and all may grow
res who will feast their appeiites. Dawes
we searched purses are turned, the cash that jlng
osl about the infants neck Is taken of and I
% and confusion reign money must be ral'
- "a purchase more lands, that we may grow M
, rch. IN short, sir, every dollar that can be IT
,irr ed IN the whole country is taken to the land of
e. riyen FOR unproduc,iye soil. and as essentially
+ of 10 the real busisss Of lhe country, as ihoag
est, had been cast into the sea. Fortunate N
ger fortunate had ii been for my afflicted State
Of Tor nc whole country il the folly had here ceas
g,s '.ns Bot the real capital Of the country beng
ION hausted the Legislatures were impoIianed
cht create more banks that there might be m
ybn- | rnnnAV 10 invest in more unpFOnACllNb lhi