Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1840-07-16
HERALD DOF THE TIMES.

wisdom and firmnsss Of the opposition;
and, when driven to compromise, It
never intended to make, and which could
have been effected years before, this
time serving administration having mol
merit Of their own, are sndsavoring to
make political apital out of its defeat:
that " necessity is the mother of inven-
ton" no one will hereafter doubt.
"At the commencement Of his ad-
ministration in 1897, Mr.. Van Buren
found the Country excited by redun-
dancy Of paper money, which had pro-
duccd mania Of speculation and over
trading, and a consequent show Of
prosperity, which had no other basis
than a system of credit without bounds
or limitation" So said Clay, Web
stor, Wise, and all the opposition, but
this same Mr.. Kendall, Gen. Jackson
and Mr.. Benton denied it, declaring
it was said only to create a panic. IT
was Bank influence. The "crpe'fmcnF'
says Gen. Jackson "works to charm, "
and "I leave the country at least as
we'll off as found it," A further proof
of their belief to the contrary, is to be
found in the circular Of Mr.. Secretary
\ Woodbury. to the Pet Banks-"discount
liberally" says he, and prevent the U.
S. Bank from making panic. Rcck-
less as were these men, they were ig-
norant Of what their scheme must pro-
duce they fondly believed the peo-
pie to be prosperous, and swallowed
all the hattcry of their hungry expoc-
tants, until the great suspension of that
year aroused them from their lethargy,
and detected their wickedness. The
charm Of prosperity having broken,
and the people having discovered them
to bs greater profcients in lying and
deception than were the Prophets of
Ahab, began to visit their sins upon
them with a proper spirit Of indigna-
ton, and elected majority of Con-
gress for the purpose of investigating
the affairs Of tho several departments:
this, however has been defeated by the
King Nullifer, whose "ehiraly" would
not let the welfare Of his country stand
in the way Of his ambition.
"Whils every thing else was trod-
den under foot" Speaking of the sus-
pension in 1881 says Mr.. Kendall,
"the credit Of the United States escap-
ed tho General wreck Of public con-
fdence, and the interest and principal
of every debt was paid in tho constitu-
tiouai currency" If this constitu-
tional currency" means Gold and Sill
yer, it is false, SO far rs relates to PEN
sioners, Scnmen, Laborcrs, sc. That
\ Mr.. Benton was paid in Gold ps kno,r,
and we hear he sold it for ten per cent
premium, and paid his individual debts
with this deprecated trash. Some less
favored than Mr.. Benton, say Members
of Congress were paid in 6 per cent
I Treasury Notes, and other "respeetaJle
classes" of Government creditors, were
paid in the same without interest, which
were but shade better than MIR. Ben
tons 10 per cent trash, and are likely
to be redeemed about the same time.
One fact must not be omitted here,
which was often complained Of by the
Merchants Of New York; it was this,
when they had 900 dollars to pay for
duties and carried $1,000 Treasury
Note, the Collector would not give the
500 in the constitutional Currency,
but either gave $l0O Treasury Note
or demand Of the importer to go and
make his change.
" IL is remarkable that in this grand
moral spectacle" (thc removal Of the
Indians) "not one trace is to be found
Of injustice or cruelty" 1t was not
injustice to the poor Indians to make a
treaty with few worthless individuals
disowned by their tribe, and warned
by them that they would not sanction
any dongs Of these men; oh no, it was
democratic" justice, and the tribe
should be held to its provisions just as
much as tho people should be by the
Sub-Troasury, which was carried thro
the House Of Representatives by the
" democratic" members from New Jer-
sey, rejected by the people, but sus-
tanned by the party in power. IL
was not cruelty to deceive the noble