The spirit of the age. [volume] (Woodstock, Vt.) 1840-1844, 1842-05-27

rnp,ion Their ,apeN railroads, mud similar
eon,rvanccs, ate out he vi,als Of the treasury Of
Pennsylvania, and lis credit died away, from the
conviction thnt those who managed the affairs Of
tho State were destitute Of honesty. Thll uppre-
hsnsion became more pervading aud permanent,
from the knowledge that the same party which up
held and participated in the management Of the
atlars of the Bank of The United States and Of the
Girurd fund, gave the impulse to- and directed the
course Of, the Federal policy in the State. The
manner in which Federalism far and near nduly-
ed itself in de,ouring the Bank OF the United
States-the profane sacrifice which was made to
selfish and party feeling, OF the millions Of the Gil
rard cstatet, devoted 10 II sacred charity, LETT no
doubt in any upright mind but that the ambition,
avarice, and vanity Of our upstarl arslocracy,
would spnru all restraint OF morality and aw-al
respect for public opinon-ln the pursuit of objects
which their principles induced them to believe
were only atainable by corrupt means.
In New York, the downward career of credit
was precisely the same under Seward, Spencer,
and Weed, as that Of Pennsylvania under Rner,
Biddle and Stevens. The branching of unproft-
able canals, and the projection of more extensive
but useless railroads, and throwing the State credit
into hochpot with wild, bankrupt spec nlalors, soon
subver.cd the prosperous state Of the finances, as
left by the Democratic administration Of New York.
The internal Improvements, which paid the inter-
est on their cost, aud lei! surplus, were soon
burdeied with other improvements, which brought
them all in debt; and borrow, borrow, borrow,
was the only resourcc--and that, on dcpreciA-
ting stock--until the Democracy was restored
The moment that Democratic majoriIies were re-
turned to the Legislature, aud the honest Comp
troller Fagg was put at the head ot the finances
State stocks rose, and State credit, in every shape,
revived. The Democratic Legislature did not
hesitate to take the most decisive steps 10 make
good the expectation which public confidence, Al,
the very threshold, popagated al home and abroad
Fair and sufficient taxes were lad TO redeem the
new engagements in which the Treasury had been
involved by Federalism, no matter how improper
Iy and unnecessarily.
And this will be the course Of things in the Cen
eral Government Federalism will be busy while
in power, 10 weigh down and embauass the ma
tional finances. The people will look to the stern
and unbendins integrity and patriotism OF the
statesmen who would maintain popular rights aud
interests, in utter contempt Of the pretenslons Of
priviege-seeiing classes, for deverancc; and they
will mol look in vain. The next four years Of n
Democratic Administration will wipe out the foot
prints Of Whggery. The public domain will re-
turn It's tribute to the national Golfers; moderate
and equal impost will make up the small defclen-
ey which reduced expenditure may require; and
the nation will only wear badge of the Federal
reign-as it did in the times OF Mr. Jefferson aud
Mr. Madison--in u remnant Of debt put beyond
the reach Of immediate extinction, by having n
term Of two years to run.--GiObe,