Herald of the times. [volume] (Newport, R.I.) 1830-1846, 1841-02-11
Speech Of the Hon. Asher Robbins,
on Tie cuRRENCY

I II we look for the primary cause oi
The present deplorable state OF things as
TO all our great interests, and when
state is daily growing worse and verse, -
we shall find II in the ruin al the inter
nal trade OF the country. Every other
interest is necessarily involved IN thai
ruin our foreign commerce, our agri-
culture, our manufactures. The con
yulsions in the business OF the country,
/ the embarrassmcnts of the Banks, all
have their origin essentially in the same
I cause. The same cause hns paralizod
! the whole industry aud enterprise oi the
country. But as the present IL, the
prospect OF the future 10 sllll worse for
The evil is still in its progress ! aud n 1t
be not stayed, its worst effects are yet TO
4 come. For IN consequence of the pres
ent deplorable state ol things, produced,
as have stated, Ivy the ruin Of the in
tcrnal trude of the country, We are pluns-
ing into national debt. Already that
d, bt is some twenty or ,hir,y milllons
and it is accumulatlng at the rate ol
eight millions per annum. Were this
state of things 10 continue, day viii
come, and that not a distant day, when
the whole revenue OF the country viii
be required to pay the interest ol the
national debt nor will 1t be possible, by
any practicable reduction OF the expcn-
. dltures OF the Government, 10 prevent
" that accumulation ; nor 10 prevent the
. increasing rate Of that accumulation.
Another consequence of the present
II dcploruble state OF things, II TO be con
|. tnued would be 10 arrest The progress
a of the whole system Of internal 'niprove-
:. mcnt. For the great value OF that sys-
tenn, 10 the cnterprlslng pr"prietors, as
well as TO the country, rs 10 depend on
that internal trade. And the loss Of that
system TO this county would eventually
be u loss III value, which no Imagination
can erasp-whlch scarcely the power OF
figures can represent.
N Another consc quence Of the present
At deplorabe state OF things, II to be con-
tlnued, would be, as 1 fear, the loss
=" to the treasures OF the States Of their
T. several proportions OF the proceeds o
ds the sales OF the public domain ; so Just
all ly due, SO unlustly withheld. For Il
or iha, immense fund should not be lost &c
''' the Atlantic States, as It would be b.
:" Mr.. Calhoun's bill il adopted or ii
should not be iiiltered down TO Il song
;. by the predatory bills upon 1t for grndua
W. ton and pre-emptIon, and by other plum
NV de,ing projects OF which there Is N
us small danger yet the financial necessl
- ties of the l. alon viii form such a plu
for Withholding the distribution, ms,
lear, nothing can Withstand.
- Such have been, and such are 10 ho
the fruits of the Iuin ot the internal trad
of the country proving that ,c be ~
primary concern.
1t is indeed the most important of u
our interests not only because all othe
- are dependent upon IT, but because It
! in itself the greatest, by lar the create
of all. Compared To the exterDa trade
its magnitude is, at least, fifteen to ont
In England it holds that proportion, va
as her external commerce is. In ia
country the field for It's extension an
all augmenlion in The future growth OF ,h
country, would be at least ten-ioId VIII
an. i, is IN England. The growth OF o'
&. external commerce. has It's limits, necri
rye sary limits but the possible growth
our internal traue can scarcely be 81
to have any. The vast extent OF o
country, in itself and by itself such
VI, bar TO the iac,h,y OF intercourse and c
change, and to all the otlIer means
internal trade, is the greatest OF all II
van,ages for increasing the amount
TI that trade, almost indefinitely provId
anu the trade be put on prosperous iool'n
nc', and provided it be aided, ns It may b
Il a, by internal Improvements. pto''d'
cen The trade be put on prosperous ioo'In
these Improvements, when pcriecte
IA will concentrate this vast county ~
s. one neighborhood, as to all the purpot
~ of internal trade. The Imagination C
, scarcely fix limits to the growth which
will then attain.
" All then, think, must be sa,islI
iha, the internal trade OF the country
her great concern. IL that trade be
recreatcd aud put upon prospert
s. footing, we may bid ndieu TO every he
of return TO prosperity by tins count
| mean to a steady, permanent, and
II growing prosperity We may h0
occ casonal bmsts of prosperity from
HuC'DulIOnS III lHt NOlhI'ltlhI WV
-. and from other causes but stead,
,bI,, permanent and u growing prosperity
now cannot have. The thing is otherw
for impossible. For The rum Of tina, gr
VT aud central interes, will continue to
&C IN as 1t has been, the ruin OF every 9th
lh'he What, then, must be done TO recre
ners , and To put The internal trade upon pr
lu.a porous footing? Why, we must recre
ne tho national currency, which was
this s,royed, aud by which destruction
trade was destroyed. For by that
3Y. ,ionnl currency, was IT not only susta &
bnt il was created; nor Ivy any oI
=, means can it be recreatcd, nor eau i
n, sustained The blood is not NOR.
'mpo, cssary to the life OF mno, than Is II
.'ona iional currency 10 the life oI mle
s,sn trade. For wuhou, it, nclihcr The 81
illlpp nor the purchases, nor the payments
sD. be made in n manner required nnt
dlspensable 10 the support oi that ia
r., We once had na,ionnl currency