Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-08-16

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another, under the accumulated weigh
ofther own corruption, to endeavor t
lead the public mind into belief tn at tb
gteat remedy for all public and individua
evils would be found in high tariff up
on foreign importations. Both aitemp
to carry with them an insult to the com
mon sense ofthe community, and are a
war with candor, and the conviction
which sound reason, strengthened by ex
Perience, thoroughly enforce. To re-
lance upon fctious capital, for papel
money issued, without an equivalent ba
SIS in gold and silver, is the United States
To attribute fOurfiflhs ofthe periodical
distresses which have befallen her in
thirty years. To this cause, and to il
alone, as was testified in congress at the
time, by Messrs Clay, Tyler and Web.
ster, can be ascrbed tie stagnation oI
business, the want, the depre cation in
the value of property, and the general
distress, which prevaded the entire I'm
ion, frcm 1910 till 1923. At later peri.
DDS, and more especially in 1884 and 81,
the panic disaster and distress which
overwhelmed large portions of the com.
munity, have still left hundred thousand
Witnesses to testify TO the folly of yield,
ing TO the Temptations Of a pa per money,
or relying upon fictitious capital. A my.
riad of honest men, allured by the exam
pie of those who were both bankers and
spectators, yielded at fatal moment
thought in few months to have amasss
ed fortune in the wild paper ind ucing
speculatiOns Of the day, but were res
dLced TO beggary and want, TO idleness
and disappointment, by the fatal reliance
they had placed npon appearance, inG
stead Of reality. What has been the hiss
tory of the past, must, under similar cir~
cumstances, be the experience of the
future. Paper money adds nothing to
the wealth Of nation, nor can it perma>
nenHy relieve the necessities Of a peo>
pie. Sound policy allows its use alone
for commercial purposes, and that, not
because there is an insufficiency Of gold
and silver to afford the world currency,
but by reason Of its convenience in being
transferred from one point to another
The history of the banking institutions of
the Union incontestibly proves that where
one Of them has been conducted in view
Of the public good, ninety and nine have
manifested contempt for the statute
law--a disregard OF 5ight-a carelessness
for the public veal, ano scorn for the
public opinion. Bankers and their de-
pendants have set up for themselves a
code of honor, honesty and morality,
peculiar TO paper money corpOrations,-
An act that would consign private indie
viduaI, to perpetual infamy, is in the dies
lionary Of the banking~hOuse, but bets
ter evidence of the actors talent as a
linancier. The incorporated banker who
robs community under the protection of
chartered privilege, sees the notes 10
which his own name is attached, and
which, ever the same name, he has promN
sed TO redeem hawked about the streets
and seld at fifty, thirty and twenty per
cent. on the dollar, and yet assumes to
him self the character Of an honest man.
Whilst the widow and hor poverty strick-
EN- children. with an allowance of fifty
dollars to pass through a winters wants
are suddenly reduced by suspension"
to dependence upon fifty per cent. of
that amount, The brazen faced dignitaries
who have reduced the widows pftance
to half lis value, roll along in their gales
Iy--rot in their i'll gotten gains, and tris
Imph in the thought Off Irresponsible
ity Of their robbery!
Such is but an imperfect picture of
the fruits of reliance upon paper ours
rency. The bitter cup Of national and
indiv dual experience has taught thou
sands, to their sorrow, that paper is not
too rely upon its perma-
nent soundness, is an objectionable act
of madness sure to be rewarded by sor-
row. The blind age of an exclusive pa
per currency has now happily but few
omen advocates. The crafty banker
and willy speculator, whose interests are
most advanced when most paper cur
rency is in circulation, have learned 80
conceal their real wishes, and at last
avow their friendship for a mixed curren,
cy. But the bait is too aPparent-
the deceit too glaring to meetwith sues
cess.
From this subject, let US hasten TO the
consideration Of another, to which the at
,ention OF the community has been o.
rected, by the clamor of capital, and the
defamation Of demagogues. In former
We rs, the country, it was alleged by the
political croakers of the day, could alone
he saved from ruin by the speedy rein
corporation Of National Bank. The
fatal and astounding catastrophe which
marked the closing years Of the late U
8. Bank, and brought TO light the enoF'
mites which secretly marked its exist
ence, have driven the federal party to
another hobby, uponwhich they hope i'
ride again into power, and incidentally
rspsy- the capitalists for the country al