Bloomington herald. [volume] (Bloomington, I. T. [Iowa]) 1840-1849, 1841-02-26

ing during the night watches to hear the dis
tant cliffs
--- reverberate the sound
Of parting fragments tumbling from on high"
| From the Globe.
The World Is Governed too mack.
This is our motto; and it is more applicable
to the regulation Of the currency in this coun-
! try than any thing else. 1t is management of
| this great aliment of the business of the coun-
| try for the benefit of few--for the stockhold-
| ers in orpora,ions-stockjob bers, brokers and
specuators-which deranges, robs, and des-
troys the industry of the nation. The ups and
downs of the huctua,ing credit system, which,
under the protection of law, converts what
should be standard Of value, into mere me-
dunn of gambling speculation, makes all bust
ness mere lottery All the regulation Of the
Institutions which are made the fountains of
the actually circulating money-their paper is
snes--is to place them above all legitimate
restrant-above all responsibility to those who
| hold their obligations, and so render them ON
| nipotent to change the value of propertv-of
private engagements among men-of every
thing circulating as money; and to bankrupt
hundreds of thousands without being them
selves subjected to the condition Of bankrupts,
| ing subject to be sold out, discredited, and de-
| throw every thing like sound currency, UNI
| der the preteAce of increasing, improving, and
| regulatingit.
We give short article from the last Jour-
nal of Commerce, which speaks volume on
this subject We may say of it, which Lord
| CHATHAM said of Magma Charta. He said it
| was "homely Latin but acorM alyMe classics"
"THE CURRENcY.-Did ever any body see
such muss as this country is in about the
currency! We have been improving and inn
proving and regulating and fixing until the
whole affair has gone to nothing at all. Here
is the great Regulator, which should control
every thing, and the great question about her
is, whether all the banks in Philadelphia can
| hold her up. That she can borrow money, is
| considered an achievement. AS to Mississippi,
which expanded most magnfcently, SO that
the banks did more good than could be estima-
ted, why the bubble has burst one way, and the
bottom has fallen out the other. Every now
and then small bank explodes here and there,
aud is seen no more, and in many that do not
explode, there are sad tokens of unsoundness.
| Through the whole country south of Pennsyl-
vania, there is no such thing as constitutional
| money, and no two States have currency
alike. 1t seems to US that such a state of
things ought to teach men to let the currency
alone. Certainly if this is the best that legis-
lation can do, the matter had better be left to
run wild. ''Tom, Dick, and Harry" cannot
| get up worse state of things than now exists.
We cannot have confusion worse than this,
and now that the doctors have brought the pa
tient into such dreadful commissions, let US send
them all home, and see if ''the operations Of
nature' will not yet save life. 1t will turn
out, when the truth is known, that more mon
ey has been lost by banks within the last ten
years, than the whole country would have sold
for when our fathers fought the battles of in
| dependence; yet the fault is not in the banks
nor their directors. The wide spread ruin
shows that the evil is not local nor particular,
but universal 1t is in the system. We have
waged great battle with the laws of trade,
"We nave undertaken to regulate that
which cannot be touched without mischief
Shall we 90 on now to create a fourth national
bank ! The plan is frightful. Itwould only
be leaving to the next generation the confusion
and revulsion which have overthrown this
All that is necessary is, that we should be con-
WINGED of our folly and leave currency to itself.
1t is the easiest thing to manage in all the de-
partments of BUSINESS. If Congress will but
make bankrupt law, which shall compel all
banks and all men to pay their debts or divide
their effects, and then if Congress and the State
Legislatures will just let the whole matter
alone, there will grow up of itselfthe best cur
rency in the world. What we want is, to get
rid of a system and of regulation, so thatevery
man shall act for himself and act freely
Then, whatever is wanted will be Provided
If we want paper money accredited in all parts
of the country, we shall have it. Then, if
banker fails, he will fall out of the ranks
Oar suspensions grow out of the fact that our
currency is managed by great system. II
one important wheel breaks, the whole sys-
tenn stops. Let currency become an individu-
al matter, like other branches OF business, and
suspensions would be impossible. When we
become wise enough to leave currency to take
care of itself, after Congress has discharged
| its constitutional duty Of coming money and
| fixing the value thereof, then we shall have
the safest and steadiest and every way the best
currency, which the imperfect state -of this
world will admit"
INDIANA LEc1sLATURE.-The whig members
| of this body have deserted the Indiana Journal,
their former organ, and have created new
enc. Mr. John Bowling, Of the Terre Haute
/ Courier, and Mr.. Cole, ofthe National Patriot.
were recently elected State Printers, and have
issued proposals for the publication Of new
49,