Vermont telegraph. [volume] (Brandon [Vt.]) 1828-1843, 1841-09-08

amount, and cannot pay. The truth is,
Inc whole Southern and Southwestern
sections OF the Union are hopelessly bank
rupt. They owe 10 the North not only
more money than they can pay, but more
than they ever can possibly raise, under
their present domestic arrangements. At
the rate they have proceeded during the
last few years, they will not only sink
themselves, but will ultimately drag down
the nation with them. Besides the mil
lions OF dollars that have been swallowed
! up IN the shape OF goods, purchased Of
Northern merchants and manufacturers, it
terrible to look at The havoc that has been
made 10 our monied institutions, ia con-
sequence OF trusting to Southern resources.
Some S20,o0O,0oO have gone from the
United States Bank alone, besides an ag-
gregate of many millions more, from other
banking institutions, into the same fathom-
less cuff" ".@~ 49, "
The South is indebted 10 the manufac-
turers of slave-shoes in Lynn, Mass,
about 100000; to the city of New
York more than 100000, 600; and TO
the whole North from to S5O0,0OO,000
Such statements we have seen going the
rounds of the press. Can they be true ?
If so, we seem to have something to do
with the domestic system of the South, at
least so far as the Northern purse is con,
cerned. Can the South pay their debts in
money! 1t is conceded they cannot.
What then have they beside their growing
cropsa Twelve hundred millions in
slaves. Butthese will not sell for single
dollar in our northern markets. We fear
that there is too much truth in the asser-
ton, that they cancel their debts by be-
coming bankrupt.
| We treat this subject not as an incend-
larry topic of the day. but as question re-
quiring the investigation of statesmen, as
being deeply connected with the most
vital interests of The Union. We NEEDLE
not with Southern institutions. But we
do believe, that the pursuits of industry
confer more happiness, than state of in
dolence and a luxurious mode of living.
| The wealth of nation is the result of
! labor. Products, not money, are the only
substantial source of national prosperity
and wealth We are told by Mr.. Jefer-
son, (Notes on Virginia) as well as by
others, that the Southern white population
deem manual labor to be degrading; they
will not labor. In comparison with
! Northern laborers, the Southern blacks
will not do half a days work. When we
compare the exhausted and sterile soil of
the old Southern States, the Incidence,
/ poverty, and wrrtched condition of the
mass of the population, with he we'll cul-
Itivated, fertile fields oil the free States, with
1.-THE thrift, industry and prosperous state of
the inhabitants. we can have no doubt,
that the difference is attributable to the
system of slavery. In the free States,
skill and labor. receive their reward, and
this is an incentive to exertlon-the main
spring 10 industry La the Southern States
there is no such stimulus to labor There
being in the laboring classes ofthe South
no voluntary motive to exertion, it is now
: as it was in ancient time, the value of the
man is Junk in degradation. Ia support
Of this, Mr.. Jefferson quotes the following
cooplet: .:= =.-......... ."...- ~
glove 6x'd it certain, that whatever day
> Makes man slave, takes half his worth away.
The preceding remarks, if correct, fur
: nish a solution of the question, Why arr
: the South so largely indebted to tht
a North2 Il is the natural tendency. inner
ent in the Southern system, TO produce {
state of bankruptcy.
u LOUISIANA AND OHIo.-The Concor
u dia lntelligencer, published at Vidalia
e Louisiana, contains a call for a publ,
. meeting, with remarks exhorting the PEG
d pie to "speak to Ohio to stay her aboll
: ton course, or prepare for nonintercourse
! Sc &c. Whats the matter, the reade
e may ask Why, an Ohio Judge, in de
u Gliding cause before him, expressed tn
Ie opinion, 'that a slave becomes free S
Is soon as he touches the soil of Ohio. u
IS Well, this is terrible affair We won
p der that our Judges dare do so! But W
IS recommend to these excited gentlemen
ct before they run tilt at Ohio, ard threate
Sc non-intercourse, first to punish their ow
s Judges for deciding precisely as the Obi
r Judge expressed his opinion; and second
E. In, to consider how non.intercourse wi
$, operate upon themselves in the way
u eating. They NAV learn that discretio
ID is far better for them than valor.-Cia
es cinnati Gazette.
Louis Phillippe's travelling equipag
s !: in going simply from Paris 10 Versailles
~ ~ usually consists Of two large elegar
= :, coaches, eight horses ir each, and tW
- baggage coaches with six horses eact
:. the whole splendidly caparisoned !; Gig
''S or ten mounted iivery-servants, and d
tachment Of lancers, s-...
i The SLAVE TRADE.-We have lie
On ter OF lst July from Rio Janeiro. whIc
- saus I'll is doubtful II the cnffse CT