Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1840-09-22

riolF nave orcllpa 70 : . u New NDrk, AMI perhaps
o. Pila lclphia for a tay or tyvU. 1.-Two can persuade
vnursrli 10 exchange your oNn highly cultivated
goinf and girleus. for a plain farmers rr-lcucc.
e,J,ed 10y the sea brreZ,s. I shall 90 mp.l happy e. see
y0a al Mirshicld.
Years, very truly, always.
DANIEL WEBSTER
n Boo..r, Eel. And,lu.in. Penn.
N,D,LusIN, penn Ary. :, 1870.
Bbn. Dlai.l Webster. q sfos.
Nj Dclr Sir! have huI tie plcaslre nf receiving
your favor OF tho 81 instant, nnI am sr,,ifcd that
what ] slil on tho occasion 10 which YOU ailulc meets
yJns apPr5auCn. I was IN truth a little anxious nj
the iol5 of srnS politicians ia respect TO the public
debt. and therefore. fr the fret time since my retire
rlsnt, .cuiIrcl 10 appeal. which / have never found
unsu-cc8lul, 10 the ultyC hyl.siy and intelligence ct
M cJ~Ir.rymsn. TINT I DID not mislnicrstIud tIom.
ihs conduct Of Pennsylvania since has abunIanIly,
pnyei. Finding tho Income t'on her public works
ihyir u~uiui,hcd state. insunicicn: to pay the into
FEST on lao pIblic debt. she hat laid a tax tor that pur-
p2sc. Tnis will be paid promptly anu cheer,ully.
NJ he an;iciPations of publ G odlam agi net ;hJsc
who voted for 1t have been disappointed; and what Is
VIZ remarkable. in the heat OF popular election
Wh u each party Is primlt 10 turn every c.rcums ance
o. the Disadvantage of It's rival. neither party has re.
prJiehsi the o;her viii laying Tia tax, tho justice aud
~rtJpri.iy OF thus sustaining the pablo cfcdit being ou
all sic- onncOlcd. Bat Pennsylvania has done more.
s,o his agreed, a srne OF the other = arcs nave done.
- raukO up 10 the foreign creditors the difference be
ISaon spccie and her dome5;ic currency.
faIs, as you know: Ia u financial novelty quito un-
kInvn elsewhere AMI a. mach an AmcrIraiisn ~
iFo y edm5Dlt or Ihe quadrant, taoIsI ls or .inGiIiy
T4as les, risl Of being ,lspIted. from The lille pr,bl-
billy Gifts ~aiDpion abroad. IN! get, although the
CLl.ei States E-in ID" only nairpn iaat ever paid oil
the whOle oGils Uatlnal drtt, and are The first to n-
donH.y IA, foreign Cselito- against the depreciation oi
The local cusoency, one might lrn1sine, fam t5 tOne
assumed ~ some Europeans, that America hal hccu
gIhty of sone great default towards iorcisn nntioas.
themselves the mliel. o! fidelity; an il Is amusing
- read the grave hlmIlics preached al these ypuag
people 1o,9t me p~rn1rtcty ufP1yins their iess-, by -
der nations who have lived M The hab Iual violation
o. all the dducs they recvmm nj.
Now We mIsr not sIncr the 90 Iuiry 10 bc Ihns scpl-
ded or ballIed out OF lis self respect. AID tho 1
would discourage all national p~rrJIiccs as genera lIy
M result of passion and ignorance, YET II seems with
IN the Limits pf n lu-t self defence respectfully and
kiaj!y 10 warn such a,sailan:s. that these rcpIotchcs
Sfs ' ~ apt &, bccOTnc reciprocal. thar the party at
iickcd Is very oncn forced To remember of ms ant, 90
ui-I that which ho would willingly iOrgci-lnd that II
We mere Ia judge them by The same harsh law thcy
apply % M. tho rcinrt would be equally easy AMI dccI-
rive. Take for instance or excellent fncni Is the In
glsh, mary Of whom are rather prone 10 deliver lee.
lures alb Ut thc ~inIielily of republican institutions
Ihcy woIld b. startled perhaps Al being told that rhc
anl ant greatest violation oG filth TO public creditors
kaoNn IN VI lrrn l. IEope. was committed BY the Cow
orImcnt Of England. But 1t IL historically and literal
y true. The very 1undluOn vi Their Whole debt y
a. onounnus wroag.
The first item of u Is 4 certain sin Of GGG i.2G3. Of
3 per cents. You reculiecI the history Uf lhis. The
government had borrowed. partly hr the use at IA"
navy too. a sum Of .J3S.526. at = per cent. on ihe
security Of certain assignments Of The public revenue.
The payments were stopped. first for a year, and then
Indefinitely. The public creditors. many of whom
were ruined. applied Tor redress Ia Parliament, but in
vain. They thea went into tho cUIris. aud after ~
years, attained judgment AGAINST ihe Crown. The
Chancellor reversed the decision of the courts. The
lloaso Of Lords reversed the decision OF the Chlnccl-
lor, anI fhe creditors now hoped 10 recover at least
their dues. which amounted, with The accumulation a.
years Interest. o. - i2S .J26 bat at tho last mo
meat They were met by an act Of Parliament. dcclnr-
iig that they should receive only Per cent, on the
principal, ard that even this principal might be redeem
cd 10 Iho payment Of one half Off. Thus was a debt
oG ahoIi seventeen million. o. dollars. 1t 9 per cent.
reduced 10 : millions. al 3 per cent. IA injustice run
fhrO' q period 1T 2j years, begun by the p~rphig1cy
q: Charles ~. but c,usumm ,ted b. tho grave aud rc-
D. eotable Ps:iarent Of William III, Well may Hume
oft, that u was "a Eriviture Of public credit. aud
open violation ufthc IN ~ solemn engagements, b 9TH
fsrcirn and dpmcsfic." Well may Bishop Burnei call
ia ds.Dnomhle and ]peridiuus action and well ono
orthJ INST enlightonei foreign travellers "a England
declare, sIch was the diSgraceful beginning u tho pre-
sent deb, oG England" - much tor lhe arst loan
~ lde TO England.
Now rs 4, ihc last loans. lctu compare the conduct
OF America AID Of England, viii REGARD TO pablo credi
t0rs in our own lime.
You know that the whole debt II the United State.
moe especially the foreign debt cJntIcied durn. the
revolutionary war-ihuI incurred during the last war.
ond that fr tao purchase Of LpIIstann md FlOrl1-
araounnnE in tho whole d about ono, hTndrJd and
eighty four $50 millions Of dollars, wrro all paid.
grinciual and interest. TO the last cent, the very Three
per cents being paid oflt par.
IN ne year 1921 the United States were IN The iuIl
career 81 ilua reimbursement. when the Government.
ofCreatB1ilr began by ldrbidding The Bank Of Eug
ie7f D. nny -Hrcir; ani ihrn borrowed - much from
ts Bank e. 20 cause the multiplication OF its NOTES. aud
b. degrees "a depreciation pf Them, al in 1911 they
, o. r-lchci discount nf about ten Per cest-Iu or I
o. fB rusisIu fhem the House oiCOnw0lg then adopt.
h. one .f Hs most CKirlordiuly proceeding iu thr
tiTory OF g]isllfiDu. II passed q resolution. That The .
tptcs ni tlr BtYk Mi Iz'lnI have brpu. and are li This 2
We hcId il ppDIc estimation cquryHlcLt so tie legal
20 oithn val1e. anil generally uccry 90 aH sIoh 90
mbecyuilry itanssripus 90 which sltu ts.H b. isN.
fHlspgHrable,' u BE- this which ToJhs Gale NJ
Ff1Narra resolution of unhappy celebrity. ruI
~lscAhs Eiin.ufah Rayiow denIuuCas ss "aI eyer
ihcnohie ~V5rni0n. n rcsolrt yu which typk f5 grant
- b1f part 49, equal ~ tn whole, huJ niooiy
pourus 2 oYe huuirsd p1nils wrro thr uus, tbsg
an1 fc-al d Fls pissed. Whom zuinaus we're g1t
fipusit ho.ld af r. premium. and h1uk uDios were lt
.. ppeuuf frf. ls compared with gold lud buht0u.
frpaa0i fIal let rcuL' Having deClIred. IH d.
rrFA en- rf ultt He notes were % pr. % rcmliu-
"a b 6rrr ase lyiy o. tskethem no par. md ~ pun
istessU by'y s. tppk Them atlrss Than par accord
i-v fs'iams euarfcd
T. U.a hs a. should be aicgil tonder 81 aa
d hs
2 That eh9eycA old Icc- sc ~ pay nran7 gid
f1iB maze fb1n iisl1N % value. whsihcr surh 0''f,u.
a. rs'ss Isl in rs,' gns Or r '1us rp. e'snli