Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1841-01-12

capital, drawn within the vast vortex upon
which money is made 10 speculate, what
reason have we 10 look forward 10 any
other than the same effects from the
same causesi What grounds have we 10
anticipate, if we hpt reflect upon the sub
iect, any other result, than that, by thessi
lent but patent PaweF which these means
always exercise, the sNbstGMee Of sOTer-
eighty and power in the many will pass,
by impeFcepiible degrees, through the
channel Of exclusive privileges and par
tial legislation, into the hands Of the fevi
the great mass becoming mere supper
ters Of the government, subject in all
their pursuits to the conflicts of innumet-
able monopolies-and in all their inter-
ests, and epen their sgfrGges, 10 the
fluctuations and designs Of associated Pc
Cuniary and political ainbitiOni Such a
change in the political institutions Of our
country, may seem, to the superficial eye,
matter Of impossibiliiy, and yet all his
tory teaches us how easy these traRsi-
tiOns are made; and reflection cannot
fail to convince that, in the inception
and rapid accumulation Of our state debts,
strong link has been forged IN the chain,
which in its completion, must bind free
institutions in degrading and absolute
subserVieRcy. ef 4
An alarming feature in this system Of
state Indebtedness egidencing, at once.
its constantly accumulative character, and
its intimate connection with the monOpO- :
lies that are daily sprihgihe up around us
-isNthe various expedlehts It originates
and too often carries into practicei the
constant stimulus il furnishes, 10 the in
veniive faculties of those who are conneG-
ted by interest, or invested by the people,
with the control Of public Improvements; /;
leading to conduct in states, like that OF
individuals, turning for present relief to
deeper Indebtedness, doubtful exPedients,
and certain sacrifice; all ending in 10.
Creasing the public burdens, bdilding up
exclusive privileges, and basing them up
on forced and unnatural public wants,
and giving strength and stability TO q
power which cannot exist, coeyal with
popular rights and popular freedom.
Experience, (which, however short,
still teaches useful lessons, BY example)
already points to several Of our sister
states, for the record of this truth, One
has resortsd to the expedient Of sustain
ing credit, borne down by excessive
burdens, by issuing scrip In the form Of
money, bearing interest, payable at re-
mote periods. and BY endorsement in
blank, passing as circulating mediums
Anotherhas given to her contractors, the
state bonds, which have been thrown into
foreign MARKETS at sacrifice, PrOstrating
the already reduced credit Of the state
And third, grasping at expsdients, in an
hour of embarrassment, has added to the
grievances of her people = mammoth
banking institution, the heavy mass OF
whose stock is owned by foreigners;
plunged the credit Of the state within its
vauIis--legalized It's suspensions, and
double plundeT Of the peoPle--until an
ENORMOUS debt hangs like anincubus over
the state, and insolvency ssares the crea-
ture Of its "ezpediency" full in the face.
And all this has been done under the spe-
cial pretext-set forth ia the title Of q
bill to create gigantic monopoly, des-
tined to curse the people with debt and
insolvency-ov ABoLIsHENc 4 sTATH
TAXI!
In all these exPedients, whether tenn,
porary or permanent, there is, but chang,
inc Of the public burdens for moment,
and constant addition TO their weight
By none, such, do we reduce the dan.
gers WHICH are sure to folloV ip the train
Of public debt, ia the hands Of foreign.
ers, For, whateyeT moneyed institutions
are created BY, and united in Becuniary
policy with the government. Will pass, q
greater or less eKteIt, into The handl
Of foreign capitalists, whose interest j.
thus enabled to approximate itself more
nearly to the sovereignty, and sIIy itself
| by the strong chain Of It's Gaecessisy" and
4 I"eppedieDGy;n 10 the law making power
ofthe state. its asceHdency n othel
governments has been fatal to the inter
ests Of the great moss Of tie people aud
to the free institutions Oi such : govern
ment as we enjoy, and lhe prosperity o
Its citizens, it IS The sass laden with gold
more to be dreaded within the citadel
than the war horse caparisohed for ths
\ 5battIe.H ag53 sgM ,.ss,,.,s
4 Deeply impressed with the importancl
Of this subject, have felt i MI duty. 4
present if @ yolr considegslioR IS III,
4 representatives Of the people, whose in
fsFests are committed ID your hands, il
! the conidence, which Iam proud d feel
Il in coMmon with. al, that they will b
guarded and promoted to The fullest a.
tent. / disclaima the indulgence of,
feeling which has been imputed 10 oil
ers who have invited public opinion !
this suhiebt, adverse 10, or destructive o
lh6l public credit and public faith. ] Ie
psaf The rsmalk AsIsioloFs made, thst th
, Ilisbilisiee of The STATE, which rest hpo