Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-02-24

Che 1pnrhturn 1'trniutam.
THURSDAY. tEERu.1RY "a. 1872.
pREDIclIoNs-AsD RESULTS

oi the sacred PM hccls drawn from the narratives
Oriental TOURISTS nfidcls as well as beL.vcs-Nolncy
as veil as l.amafline ~ no nfrfn Us that What vas
oil DID time ioetod hath actually pass and whose
nuunfui cdatons among liz, uinso anccn, cities and
the grave Of great empires lut the runpls Of tn,
gloomy pr ph,cios which forshadowod their DOOM IT.
one hand hold tie volume witch cnbudits the die.
tlon-in the other Tie evidence Gifts l6luont; anS NJ
ono doubts as he eomIars the with the olhsr that
The curse was the eanst ounce # the crmssl which
VAS provoked Yet tfe cotstporarics of tie prophets
turned deal year 10 their warnings, and believed not
even h the hour of their Ercdopnned destruction We
might perhaps find more appropriate, though ccrt,iuy
not more striking parallel, for our purpose IN pr,fane
history That purpose is to show that the pyeset co,i
lion olHe country ,ea' forcioh nth all The accuracy and
precision q an historical record The necessary con,e
quenee # lie experiment, upon he currency commenced
by Zen. Jackson IN The hnopnt # hs first Preadenta!
ie'm and thai, consequently, they who are end,ayorng
10 look to second for this universal deranremcn,
aud oml arassnent, are, like the anccn, Jews seeking
10 hide from themselves the true n of the dllicl,,s
m"tr which de whole country is now suffering
When untned experiments proposed, in reference
To subject, ot vital Importance 1t not unusual for
their projectors, IS well as tlcr orporon,s 10 at,cpi.
by The assumption OF sort Of prophetic sagacit, 10 an.
ueiraEe Their future probable suits So it was when
heh. Jackson, from no hostility 10 National Bank
upon frlncre, first manifested his Determination in
consequence Of lis having hwaried bis p rsoIal wishes
TO crush that institution ly the lanloss removal Of the
public d'postcs from It's p ss,sson. Mr. Benton and
his coadJnors declared that the prosratiun Of the Bank
vas necessary 10 sound and stable currency, and that it
was all important 10 the Preservation If the public lab
ues In cohneSen with the adoption Of another mea
sure by which the value fgold, as compared with sill
yor, was appreciated, they predicted that the downfall
Oh The monster would introduce new era when paper
none, would take 10 itself wings and fly away and gold
would every WHERE abound, not only n,winp up the
Mississippi but filling the purses OF all the farmers Ia,
nus prediction been rcazcd' 1t IS needless TO say that
II has not; but that c the what it may the Etrf
s that in every section Of the country We have papcr
currency such as II is, diminishing in value as it Is re-
moved from the Lanh by which is issued with sc,rce
y silver sufficient TO supply the ordinary purposes of life
ard with 50 lt'c gold tina, no, ono man in hundred
gets the sight ola yellow boy" once year Tia, the
EApofmon'ers were no prophets. therefore, tu, that On
the contrary. they woc deficient even in the ordinary saga
city d Legislators. Is manifest. Their predictions are
con!u;cdby tie results Of eir e,m rim, n,s and men
ss bold and reckless than they would ns,ad Of court
ing public observation. and still farther asking the conf
dence Of the community would seek the deepest shades
Of otscuri,y, that they might hide from tho ind pnaon Of
an nsu!,ed and injured people.
But ,h,rc woe HG( is VII :, ,,isc rrnl,ts ON Ina,
ocession-m men who feared the very evils Gnl,r which
the country is now suffering, AID who predicted them as
clearly as If icy had teen rocoldug actual INSTEAD Of
torclelng future events. Let us see what they said
Mir. Ewing, Of Ohio, on the of the National Bank
by Gen. jackson, in 1872, said
M this institution Is really to be pr siIard-ift have
now received Its death blow, aud is but TO ait and mr..
pare for It's final allho distress and ruin which II win
occasion rests mol with the wealthy money holder hose
funds have found an investment in stock but it must
come with fatal aud uni rohen free upon HE industry
the enterprise the public prosperity and ri, ate conf
OF the whole extended West. The Bank # the ni,ed
States must withdraw its issues" SC. And then Mr.
f.. continued as follows: 'But this is not ALL Io,t ,o,,
Tie moral, at The time you thus r1nieiu shake m,
prosperity 81 peopic. Their first resort Will be TO IT,
glsla,c and, and relief laws follow or in other words
laws to prevent the collections ofdebts (r what cpis
lanrc can withstand thcappeas Of a whole people suffer
my under general visitation n, If that the crca
ton eli host OF Banks with fictitious capital. which NAV
seem tor time 10 suspend the blow tut will make It
fall the heavier at last, And Their instead ofthe safe
aud sound currency riich enoy ,cc shall again
hare deprecated and ,rcriless mass u trash ,rhicb ,r
pa" INTO The hands Of the People, and there SINK into
nothing, earring them to bear The loss
isno' this perfect picture Of the psn, condition Of
the country! And when We see that these things were
ioreold, in 1852 as the certain consequence # mca
SURE. which was nevertheless obstnacy persisted in and
consummaed, is it unfair illogical infer tia, the
words Of the orator propleticl
But Mr.. Ewing not alone in his forebcdinps Amonr
others Mr.. Clayton Of Delaware opposed tho d.s,ruc
ton Of the l. ). Bank; and he only repeated the full
filled prediction Of Mr. Lowndes Of s. G. at an anterior
period. He said:
Tho prediction Of Mr., Lowndes in 1919 must be full.
hlled that The destruction Of the nted States Bank
would be iulowedby the establishment of PAPER money
he firmly believed he nigh, also say he knew. II was
an extremity, he said. from which the House would re-
COIL The iarmer must again sell his grain to the coun-
try merchant for State hank paper at discount Of from
tenh '"t3, or ercn thirty per cent in the nearest com
lnerc.a ''f, nc. The loss Of confidence among men
The tota, arrangement Of That admirable system Of er,
changes whfa now acknowledged tobc better than e1
lists IN any other country the globe oyertradnc and
speculation on false capital in every part of the country.
that rapid tcmttoR u, The standard Of rnlue for mon
eF ~hch Ike the mscc,i pesiilencc ,citers all The eff
tort, o industry. nhile the sufferer in utter ignorance
y The cause Of his destruction bankruptcies and ruin a,
the anticipation # which the heart sckcns must follow
IN the long train Of evils which arc assuredly before
us"
There stands The written prophccy-before Us are the
evidence Of its ulflmcn, Why need We, them enlarge
on such theme! The people were told, by the Loco
foco leaders, that the destruction of the National Bank
would lie the end o paper money, and the commence
mcnt If golden age: hard money was tn FIJI eye,y