The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1841-04-23
at is in vain to look for prosperity without a

circulating Medium which commands the pubc
con6dence. If The cnrrencv is anc,natinu business
will nor,cina,e in its character and the fluctuations
hr;nr disaster unon tho seller or the buyer. COM
merce must necessarily lnuruisb. nroperty sink in
vaue and the reneral prosperily he greatly aba,ed.
II is therefore he dictate Of sound pocy TO MAIN
tain currency which will remain FIRM"
Then, financial troubles were ascribed to their
,ruc sonrce I'm, il was left ior Gdernl orators of
NOR. madam fines n mako tho discovery that the
,o,a.'n,, : rosnons,hIa c,r aYor,, him: and ,hov
S1orId C,in molke !, sc,nc-ro,t ~ benr AWAY The
s,, ~ ,ha no,nla and tho more damnina aims or
Ln ", IN corp ppH, s''' ''''''
!, vas forunote FIR the ;n,sres,s If this neonle.
,bat ,yhen ,hc final s,rngcla If ,hc monster hank
nnmo m 700 b,d a, tho bend or tho 1overnmept in
tho ;,lrs,ro,s boro NJ Nov ORLEANS ore ,vb,se
hro,d shnnlJnro were ,ble n beor them Every one
understands the interests of land and labor Int The
interests or ncorrornted credls are not nltoueber
ca ,ng;bIe for they have No existence IN the sem
SEES. ,bev,nre nci,her e,toblc drinknble. nor wcor
able. vop can neither 500 ,bem feel Them. nor
taste thcm. " tbcv have M vulne in themselves
and M mower If creating value in nny thinu else
II reouires millions 70 sHpport Them or thew will
starye and vet they have "nei,her bodies TO be
kicked por souls to he damned. - tbcv nre created
Of nothinu. and are essentially still nothing: thew
had their oriri, !, countries goycrned Inv q priy-
Ieued few. for the "especiol benefit and advantage
of tbosc who avn tbpm and far Tho d;sodvon,pge
ofev.rv boLv also ), Such arc our Rorl;s
The sheet anchor of democracy the ruudamen.
tai nrrc;nIo If ali ina, nnyornn;o,, IA Tho 1reo,
nr;rr;nIe IF eruoI r1h,sL ew;,bou, Arm bel;rr an
pn,y,verno confidence in ,he trn,l and instice nf
his eternal nrnc;nle MI nretensions 70 democracy
nro bnlIow- hearted. hynocri,icnl and n,esump,vc.
| 1 n
legislative enpclmenrs, all plans and projects OF no
tcal lenders resting assured that lust in propor-
ton ms they vary from this they vary from the pure
standard of eternal Justice between man and man.
Monopoes and peculiar privileges are obtained
under the specious and delusye plea of aflordng a
better currency, and of accommodating the bust
ness public. Pertains no action or operations of
government in this country are so dangerous in
their tendency, so perfectly at war with this great
principIe, as the banking institutions of the land.
Banks of discount and deposit, under proper regu-
atons may be useful; but banks of circulation,
as they are called, or rather banks of manufacture,
having the authority of tho State to manufacture
the very circulating medium of the country and the
representative of property, are quite different in
stilutons. Such are the Banks Of the U. States.
Here then, is granted the exercise of one Of the
highest functions of sovereignty by an irresponsible
agent, which, unless we have found angels in the
shape of bank presidents and bank directors, ma,
be- nay, must be, dangerous to the interests Of the
people and the institutions of the country. Were
the loans of the banks confined to the real money
which they have on hand for this purpose, they
would be less objectionable. But this is not the
case. By singular continuance, they have the
peculiar privilege Of loaning their credit This is
made tangible by yalueless slip ofpuper, on which
is picture and promise to pay a certain sum on
demand in gold and silver without interest," for
which the bank receives promise to pay will,
good and sufficient endorsers, for a corresponding
sum, (minus the bonus,) bearing interest. Here
is manifest inequality on the face of the transaction,
admitting that both parties have the ability to pay
rs well as the disposition; but the injustice he
comes still more glaring when we consider that 4
dollars out of every 5, or more truly out of every
TO- Tim, issued nv the hank. /, Inns no mems what
ever 10 redeem in cold and silver according TO lis
promise. Should The farmer 20 10 the Legislature
and osl for n charter. granting him the pecuIa,
privilege of issuing FIVE potato leaves for every
busbel of pn,n,oes he mgh, raise and the snnc;ior
az ,ho, LoJv th,, ,lov sbord hoor ;,,oros, and n,,
crrrer, omor, his ne;obho,s Cor n brsheI or ro,,-
tons e,ch nredicn,ed nnon tho one hrshel be ba.
raised and no,bno else !, you,d he ,bonybt n vcr,
oyir,ord;r,rv md nrobnbIv - ycrv nrro,sor,I,I,
rcoues,.-mons,ropslv uncounl uitiry ,be G,rme,
rrro,,v ,br ADVANTAGE If his ennnliy deserv;ro
ne;rhbors md nr;v7egc ,b,t bc conlJ very e,sly
nnJ most lilev would ohr.c Such csscr,,II;
il ,hc renu,l;v md ,bo cry;rr ;n;rs,;ce NJ Pa III
charter
To ox,ec, ,h,, nm, en-, IF ,o, ,v;,I c;, or o,,c,,
IN, ,homsolyos ,ybon ,h,nd"n, ,ro,ns nre ,hms nm,
;n,o ,Ls;r h,rJs ,yhch ,ho, can se ,y T."
H. 20 Ms,.nnrJ ,Lo .hoio .riJonoo ~ ..nps;on s
s;roo ,ho ,so,,d hon', IN avar, ano ond a,o.,' ~.
Han TLo ,,,sa or Io,,;n,, ,a s avail,
t ';,L H. 81 ~ .rn' .s'.' .,.e'
~ r'aL,n !, aooroo. ,hns oyn.,n,I;n ~ pr ".
H., ,odir, ~ rn ps 81
-, :, ,lon.,'.Ss poaI ,..a.,,L ~, ", ,s.
,h,nJ;,a nnJ ,ha ,".,.r, ~ r"dna;nu "a,,, H.
"" '', ""u Wv u; uH " Wv IA
c "' ""' ,,;,, w.. t;, ,mosou Wv ,,o on"'
wy w ;nor r' ,o;r ,al"e and h. nr,at;n,
;ronoy soorc: Won docr.nse ,hor mammal w,lmc
ror oy,nn,o. man hive horso volrcd n, S1oo
for ,h;ch bc u;yes b;s no,e navob,o n, tho ond n,
,,ro ,ra,s IN com which =, ,bo lima or nnrcha 80
i wor,h CIV cen,s nor I'm shclwoounl IN t,yo bnn.
JrsJ hrshei. or cn,n--ond tho hanks bove ony
r;yon c;rculntion Retire. tho end If ,wo Years ,bd
hanks Jnublc their circulation and nroner,v bos
;a, iii ~, ,.o.o,,;,a, .. /; H. 40 ii