The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1841-06-04
VOL. Ill. NO. 81.

OF the people, in the form of high duties, for the
avowed benefit of the stock obbers. This taxation
) Is also laid IN the form most destructive to
Z merce. 1t Is another barrier TO be raised between
nations, 10 prevent free intercourse, and this at
| time when the country requires, above all other
, things, an increased market for her produce and
encourd cement to trade. Simultaneous with the
; proposition to choke commerce by increased bur-
dens, ii is proposed TO regulate exchanges by crea-
ting monopoly bank, and destroying the trade of
all the other banks in the country. The plan could
only have originated in the Philadelphia schools of
finance. In considering the subject, Congress
would do well to adopt the parliamentary custom,
appoint a committee, with power to send for per-
sons and papers to investigate the subject and take
the opinion of practical men in regard to the mat
ten in all lis bearings. In relation TO the small
note issues, DR.. DyOlt could give them some val
liable hints. In stock operations and transfers
generally, Mr. Lewis is well qualified TO give the
best information. In the details of the Bank gen.
orally, host Of all descriptions of officers stand
ready TO explain the modern system, as Ncwcomb,
Dabney, Barker, Surtees, and many others, Fully
competent TO lay down the rules which should gov
ern a responsible cashier, is Robert White, who so
long ably governed the fountain of pure water in
this city, For standing committee on the state of
the bank, there is Mr. Dunlap, and Cowperihwat
himself, although he declared that the state of the
United States Bank was past his comprehension
but that only in reference to the Bank after it
became State institution In relation to the prop
er employment, of the fund of the concern, to the
best advantage OF those for cloSc benefit il is 10 be
creaici, mass Of evidence can BIO gathered from
Iippncott, Jaudon, Dunlap and Bddle For ex-
tended and elevated views OF the whole business Of
the country, including its cotton operations Mr.
Didde is Il host in himself. For general nforma-
tt,,, thn Int,, IL e
the relief Of the community and the purchase of
produce, they nigh, apply to the many hundred
post note bankers in this state under the law, And
lastly, in regard to the all imporont matter Of
regulating eXhanges,' ifthey could find the great
unknown, who recently regulated the exchange
between New Orleans, the West and this city,
much valuable information could be obtained For
an occasional examining committee to pass upon
the condition Of the bank, and pronounce oracu-
larry on its ability to pay It's debts with his assist
ance, who can surpass the venerable james G,
King. In all these quarters it will be seen that tho
country is rich in genius and practical experience
Nothing is wanting but 10 give it scope and prop
err application and the industrious classes will not
have cause TO complain Of a scarcity of paper
money.
The preteyt for creating deficiency in the Ma
,ional Treasury, by giving away the public lands
is to assist the States, many Of which allege tina,
without such assistance they cannot pay their in
terest. The principle of the distribution is, there
fore, that Of assumption Of the debts. The one act
will follow The other inevitably and the unindebt-
ed States will have to pay the debts Of the specu-
lative ones. The old States lend themselves 10 tho
distribution, under the impression that unless it is
made, the new States will soon become so power
full as TO take them away altogether. This should
be prevented now by setting the proceeds apart
for the use of the federal government! forever, and
reducing the import duties to tho extent This
will be the cheapest way of providing for the ex-
penses of the federal government. The debts Of
the several States must be provided for by those
who have created them
*Thesc persons, will he remembered arc ahscordins
cashiers of banks and dultlcaturs.