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

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ment under which yon live. If either extreme
should succeed, injustice may be DONE Penn
syvania occupies that ground. While she will
never he behind her sister states in furnishing the
necessary means to support the government, in
either men or money, at the same time, so far as
am Informed, her people do not desire more taxes
to be levied than will meet the necessary expenses
Of the government; and in laying them, she will
ask discriminating duties to protect the manufacture
ing interests.
This is the first deliberative body in which was
ever honorcd with seat, and this is my first effort
in this body; and as one of the representative for
the keystone state, if could suggest any thing for
the consideration of congress that would tend TO
harmonlzc their conflicting views that interest,"
ing and heretofore exciting question, it would be
very gratifying to my own feelings; but, sir, if you
permit the banks to enter the list of interested par
tsans, you will have your gallery and your lobby
lined with their officers and agents, advocating Il
high tariff and all for the interest of the dcal peo-
pie prolessedly, but in fact to create large surplus
toi them to trade upon. Should you employ the
banks again as deposiiarics, doubt not but the
prediction of my honorable colleague from Phila-
de'phia MIR. Sergeant will be fulfilled, and that
ten millions of dollars will not be too large est-
mate for the balance i'll the treasury. There has
been some effort made TO agltatc this interesting
question at the present session; bu, of all times
that could be selected this would be the most I'M
fortunate for the country.
! have been no little amused, sir to hear the
very kind professions of friendship from the gentle
men in the opposition, to the interests of the far
mcrs, mechanics and laborug men, Yes, sir, the
real hard listed men, as they are called. These
| l, hall
scarcely turn over leaves in their portfolio without
their silk gloves ON. Now, sir, don't doubt their
sincerity, hut are they competent to Judge of
their interests as practical business men are -
While they profess one thing they practice another.
Yes, sir, they are for exclusive privileges and mo-
nopoies-,he very antipodeS of the poor mans in
tcrcst They are too much like the banks-thcy
form combinations and control a larger amount of
labor that depends mainly upon bank facilities to
carry on business. When there is any sudden re-
vulsion in the money market, as it is called, the
poor man is either forced to consent TO reduction
of his wages, or be thrown out Of employ altogcth-
err and their rights as citizens are often infrnged
upon by being forced into compliance with the
views of their employers, especially in politics. !
ask the business and laborng men of the country
to look round and see whether the leaders of the
wing party do not seem To be delighted with the
present distress of the country, because it will have
the effect TO place them in power; and whether the
banks and all the moneyed men of that party are
not aggrava,ing it to It's utmost stretch OF severity,
even to bring YOU TO starvation, as the gentleman
from Philadelphia would have it? The labor of
any country is It's wealth; aud when YOU protect the
interests of the aborcr YOU promote the interests
of the country; but, how is this to be done Is the
great question Here the parties seem to be at is
h.,. hat tl,.I l 10
best rewarded who receives his pay in the kind of
currcccv of which a months or days wages will
buy most of the mccessaries of life for his family.
For Instance, the gentleman from Virginia Mr..
I!ocnnn] Informed us, the other day, that he
knew man that received D3O 900 for one months
work, in continental money, and then gave ii all
for hriiorm coat, worth only D3O in hard money
Now if this man had received ndO in hard money
for his months work, he would have had Do left,
but When he rot D30 900, he had nothing lett
This is fair illustration of the position Of the two
parties; for the opposition contend that the largest
nominal amount without reference to its value, Is
the hest wages.
Now, sir, if this bill will be the means of taking
away the props that have held up and supported
rotten institutions, and will weed them out from
amongst the sound ones, we shall soon return to a
sound circulating medium; and the man who re-
tain that his money will be good until the end of
the next week. The changes and iucluaiioes in
the prices of produce always operate more injnri-
ousy on the poor man than on any other class be-
cause his wages the last TO rise, when gcncr-
al rise in prices takes place.
IN Pennsylvania contracts ARE usually made in
the winter for the succeeding summer, both for
building and farming operations, and the prices
fixed by the day, month or year, ms the case may
he. Mechanics generally fix their prices in the
winter, or early in the spring, from which they
cannot well depart; aud i, not unlrcquently hap
pens that before the season is half over their bread
and meat advances in price from % To 80 and in
some cases 100 per cent, vet their wages remain
stationary. This frequent, happens after the
grain has been sold by the farmer and the mills
are nearly empty; the whole crops Of the country,
or nearly SO, being in the hands of,hc spectators
IN Philadelphia, building is generally done BY con-
tract made IN the commencement of the scnson.-
The competition being great amongst master build
for business, every thing is estimated NJ exist
ing prices, under which hands are engaged, &C.
hut before the buildings are half up, the price of
living advances 80 or Is per cent and the work.
men, in Justice TO themselves and families, turn
out for higher wages, and, consequently, in many
eases, the undertaken loses by the contract 1t Is
INV IIl1l WilStIIlcs
business, destroys confidence, aud operates so much
agans, husinses men, and which are believed to
he caused mainly by expansions and contrac,ions
in the circulating medium.
Our best writer's on political economy, as well as
our ablcst statesmen, inform US that the currency
Of country stands in the same rcaiion to the body
polite that the blood in our veins does to the hu-
man animal system; the regularity Of both be-
ing alike necessary to Il healthy action. II this
principle be correct, the following statement will
show the cause Of our embarrassment. In 1885,
January LIST, the amount Of bank notes in circua-
ton was SlO7 ,692 ,Igj; in 1896, it increased To
40 ,3Ol ,O3S; in 1887, it increased TO il0 1885,,
$50, in 1888, il was reduced 10 SIT ,l3S $40: in
1880, it was increased 10 S.l3l. l7O, 95j; and in
1910, il was again reduced to SiOG,9 6s, 572. By
The above, il will he seen that, from 1885 TO 1886,
The increase of circulation was $50, sos .5l3; and
from 1887 10 1888, il was reduced S33 .Ol6, $50:
md in 1888, il was increased S22, Ol2,Ol5: and
between the lst Of January 1899. and Isl Of jan
nary lsi0. il was again reduced D27 ,2l2.3Sl If
lie opposition be correct, (Which do not admit. /
ha, the administration has produced those changes