The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1842-02-22

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tons of the people, with the immense resources OF the
country, and recuperativs energies of the American
family, can obvate our difficulties. Currency will
regulate itself by industry-labor pincit omnia-the
riches of the soilcommercal pursuits based upon So
| lid means and all transactions having a legitimate
object We must avoid kite flying" fancy stocks, T"
"water lots, and specializing corporations. "Bus"
and bears" let the people of the cities and large
towns (the people of the country know nothing of
these things, but from repor get rid of all these
crescences, and become true Republicans. Let us
live upon own healthy products, and pay tribute
longer to foreigners and leave luxuries to be con-
sumed by those who can afford to live princes
and nabobs This is essentially working coun
try, and every man should endeavor to a reputa
| ton in whatsoever occupation he undertakes. The
statesman if not consistent or is discovered to be
demagogue, not believed he loses caste, and has
credit for his opinions The professional man, be he
advocate physician, or divine, must show constant
industry and integrity and, In due time, he
he will have sufficient credit. Why, then, is it OBJ
jected that commercial and bankers established
in the different cities and capital towns in the Repub
ic cannot have reciprocal credit understanding SO
that private bill draft may be sold by banker in
Boston on New York. Philadelphia, Baltimore, and so
to New Orleans and the interior has been done from
time immemorial throughout Europe as for instance
a bill from the Rothschds or Barings in London
Liverpool upon theil correspondent any aohere
may be cashed in any part of Great Britain on the
Continent; again. as in Paris, the bills of Hottin-
guer of the Laittes, Mr. Wells, or the Hopes, at
Amsterdam | have often asked why this could not
be done in the United States, but have been told that
there is not the stability permanency here
things change too much there is certainty in COM
mercial affairs this country, and the matters are
transacted differently in this country The true way,
maintain is, the freedom to all to be bankers, hav
ing the statutes of fraud fully applied the severest
punishment inflicted for violations of honest dealing
and treaties with other countries to deliver up ugi
tlves from justice. The science of political economy
should be well understood by every intelligent Ameri-
can. Volumes have been written and intermnable
speeches made upon the monetary system, and every
possible scheme, all the plain, common-sense practi-
cable ones, put aside to fasten upon mammoth
corporation And what is the cry, to effect this "uni
form circulation and equ azaton Of exchanges ?"
The great regulator" and they might add the great
arbitrator and dictator" We are not yet prepared
to yield ourselves up to great money power. We
are blessed with every source Of prosperity that God,
in his mercy could bestow;" and if the currency is to
be the Constitution says it shall he, must not
look to political charletans and empyrics to produce it
we can only make it abundant "by the sweat of the
brow" If we export more than import, there will
be surplus in our favor. A surplus of what it
may be asked. Either of foreign accessories, in
gold and silver which will to us. We should
not dependent upon any other country for those
things produce ourselves. We have long
enough been the great sorehouse of European manu-
features Our own workshops not supported and
anguish in our midst, whilst we support those of
other chimes. Why is this =? Our operatives are as
enlightened and accomplished workmen, and the
inventive genius of our brothers inferior, if not
| SURPRISING that of transmarine growth We should
turn attention our own great family, ra-
Their than devote ourselves to the uncongenia, all
grasping, anti American, anti Republican operatives
abroad. We have in our midst spectators, gam
bers and idlers who all consumers and non-pro-
ducers they do good but much evil; they are
composed of foreign well native growth, and are
sores the body polite" But our people, as have
already said working people, and generally
nomical and frugal can we'll be, considering that
great lberay, and kind of wholesale, off hand e1-
travagance which recently characterized the ma
ton. We play the fool, when we ape Europe in its
FORMS fashions, and show. 1t is unbecoming sober,
thinking, dgnifed people, to initiate the magnifcence
which produced by tyrannical oppression. 1t is
high time that we should begin at least to establish
nationality worthy of being initiated.
"The moral influence of those who govern society
should be brought forward to stimulate to virtuous
4.
stitutlon must be made to accord, and that in SUBJ
accordance with those great preservative princi-
Piles which society is founded, and by which it is
still held together under every political vicssitude
by which it is often enabled to renew It's youth-to
shed the {" old and wrnkled skin Of corruption !" and
to restore and realize the glories Of its prime For
while government necessarily exercises powerful
influence upon sociey-society in its turn, still more
potently controls the destines of government If, in
improving state, it either forcbly carries the lat
ter along with it, bursts its trammes altogether
while if corrupt and declining, it can, in general,
ceve but little resuscative aid from the hand of the
legislator but continues to sink into vice, weakness
and mbecility, leaving the institutions which it
animated with energy and ennobed with intelligence,
to hang dead weight upon its recreant limbs" re-
tanning their FORM but destitute of the vgor and sp
rit of life.
I'm the Exchequer scheme of the President and
his Cabinet, safe and practicable agent of
delverance from the evils which beset in the form
of deprecated currency, depressed prices, and the
long train of ills connected with them; and hail
this plan the harbinger of prosperity and repose."
This is very decided language but believe that If
the Congress will pass the Exchequer bill, with the
power to issue bills to the amount of the estimated re-
and deposites, that all that can be desired to
regulate the currency equalize the Exchanges, or