Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1840-04-10

wages is lower, and she therefore manufac-
iureres CHEAPER. Now, sir what is the STAN
dard Of prices throughout the woild2 Ii
must be a standard which will enable US TO
sell as low as others--to produce as low as
the nation that produces lowest or we can
not get the exclusive possession of our own
market, and enter the markets of The world
in successful competAion We must 60
down TO The wages of France, Germany,
and other countries that produce lower
than our lntorers, or those Of England II
can understand language, the paper bub-
bic is TO be reduced till this result is reach.
ed. The Senator says he is for mixed
currency, but goes for the reduction OF il
I'LL il brings prices TO this standard-Of
what consequence is it, Mr. President,
whether il shall be mixed or unnixed, hard
money, or hard money and paper. il the re.
duction is TO go on ill this effect Of coming
down TO the standard of prices throughout
the world is produced2 None whatever; and
yet so confident is the Senator in the
soundness Of his policy that he exhorts the
manufacturers 10 take the corrective into
their own hands, and 10 bring this result
about; and yet he complains Of me as rep
reseniing him as too much of a hardmoney
man. supposed in all this the Senator
looked really TO hard money; but whether
he did or not is Of little consequence, as the
effect on labor and business will be the
same was led TO this conclusion, for |
thought he would not wish TO be understood
as viewing one currency as most useful TO
the manufacturers and another 10 the coun-
Try. II there be confusion in the matter,
am not answerable for that for | replied 10
such opinions as were advanced. 1t APP
peared 10 me that the evil complained OF
was the expansion Of the currency. and the
remedy proposed reduction 10 this stand
ard Of prices throughout the world | know
the Senator has spoke much OF his friend
ship for laborers: but il is his pract ical views
Of policy, his means 10 be employed 10 Sc
cure prosperity, that exclaimed | did
not consider the part Of his speech from
which he has read. and considers the found
alton OF unjust remark elsewhere. as an i'm
portant or material portion Of his reasoning
Such is the doctrine contained in the prin.
ted speech. 1t is before the world, and let
them judge Of it, and see whether have
brought the member nearer to being friend
Of hard money than he brings himself
But the Senator pointed out two para
graphs in my reply which he says do him
injustice. II so. it was not my purpose
On the first page, he alleges that. in a gene
raj summary which | make, mot of his ex-
elusive views, as the paragraph shows,) |
impute 10 him an opinion that the Sub-Trea-
sury will have greater influence over
banks and banking, and reduce the curren-
cy beyond what he ever though, or has
contended il would do. Notwithstanding
expressly state, in another place. when
speak OF him alone. that he declares himself
the friend OF well regulated banks and a
mixed currency On this point, shall
only say it is the last on which could have
anticipated complaint. aler all the reason
| ing Of the Senator 10 prove the expediency
Of Producing the currency, because Of the
evils of banking. Blu, the effect Of the bill
is matter that never entered my mind as Of
any moment Ii was not .the measure
of influence which it would have that dis
cussed. or thought important. as l alluded
TO il only in summary way. 1t was the
opinions and doctrines advanced in the ar
gument, the general scope Of policy advoca-
ted by the member, upon which common
iSu, anu W WuhCu tcl'iicu' Soulu uot
misunderstandshim in expressing The opin-
ions that the bill would have its Influences
as corrective, and | am Indifferent what
degree OF influence is or may be ascribed to
! it.
! The Senator laid hold of another insulated
paragraph Of my reply at the thirteenth
page. and suppose | meant to assert that he
and his friends contended that the bill would
reduce the value Of property and wages one
half ISSUED him the other day. and now
do it again. that such is not my meaning,
nor does ii seem TO me to be the just or fair
construction Of the language. The Ian
guage is this: IL do not impute this power
to the bill, but it is enough for me that its
friends do' What power2 He alleges the
power to reduce wages and property one.
half. say the power TO reduce wages and
property, and TO improve our relations to
| foreign trade, without assigning any par
licular proportion of reduction. The Sena.
tor draws the proportion from hypothetical
case stated by me in illustration OF the gene
raj proposition under consideration, that a
reduction Of wages would be beneficial to
the aborer. This combaued, and in the
| ypothess-assumed case in which wages
we're supposed to be reduced one-half
Having gone through with this. which APP
pears on the face OF il 10 be, what il is, n.y.
pothetical, and not founded on propositions
intended TO be imputed TO any one as used in
u argument, return by new paragraph 10
II the bill and use the language have read