Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-02-18
From the National lntelligcneer
TRUE PROPHECY.


Having met, in the Cincinnati Gazette, received
yesterday, with an article originally Published in
this paper year or two ago, entitled
" Ths predictions BY wiss Siatssntn Of tse ssase-
qasnees 81 tht Experiment."
and having the curiosity 10 reperuse that article,
We were absolutely startled a; the life like dsinca-
ton which il shows TO have been made, ten year.
sso CT the consequences tina, NIGH, be expected TO
result tron perseverance, in the wan,on ard fool
ish experiment upon the nsiional prosperity which
has brOush. the country to the condition il is now
in. Every day, fer foar CT Ave years past, we have
realized more and mosc iorcibly the truth Of these
predictions, and now more foseibly than ever.
Our readers will bear with willis, We quote,
as follows, one or two passages, full Of instruction
and Illustration. tton the article to which we refer.
When in July, 1854. bull for rechar;erns III.
Bank Of the un:icd States, havios passed 10th
Houses Of Congress and been gen, to he Pre.iien,
Tor his signature, was returned by hin TO the Sc
nate with his obi :e:ions, solemn debate took Place
upon the question, arising under the Constitution,
whether the bill should pass Notwithstanding the
Presidents objections; in the eours, OF which de-
bate, recorded in the Register OF Debates, the
ioiosiug remarkable passage, oe-ur:
Mr. EWING of Ohio, said: ali this institution 10
\
death blow, and is but 10 await and prepare for i,s
tna ial-;he distress ADD rGin which il will ocea-
sion rests not V th the wealthy money holder whose
funds have found investment in its stock but il;
must some with fatal and unbToken force upon the
Industry, the enterprise, the public prosperity, and
private comforts OF the whole extended West. TIE
Bank Of th. United States must withdraw It's is.
Sues Re. And then MIR <. continued a. follows:
But this 10 MT all. You sap the morals at tire
same tine you thus rud.y shake the prosperity Of
peoe,,. Their first resort will be 10 esislrtivs
aid, aud relief laws follow. or, in other words, laws
TO prevent the collection Of debts, (for what Legs
lature can Withstand the appeals of whole people
ferns under general Visitaton1l or, IT not that
the creation OF host OF banks with fictitious ca pit
tai, which may seem for a time 20 suspend the blew
but will make Il fall heavier 81 last. And then
instead Of The safe and sound currency which we
now crloy, we shat. again have q deprecated ami
Worries mass OF trash, which will pass into the
hands OF the People, aud there sink into nothing,
lesving them 20 bear the ioss.'
MIR CLAYTON spoke in the same spirit: "The
pr dciion OF Mr. Lowudss in 1919 musI DC fulfilled:
that the destruction Of the United States Bank
would be followed by the establishment OF rgpsr
money he firmly believed; he might also say he
knew. i, was an extremity, he SAID, from which
the House would reeoil.' The farmer mus; again
sell b., grain 20 the country merchant for Safe
bank paper at discount of from ten 70 twenty or
even thirty per cent. IN the commercial CITY,"
Sc. THE loss OF confidence among men, the Total
derlnsl ls-i Of that admire Die syse n OF exchanges
which Is = acknowledged 20 be better than exis:.
in any other country the globe, oveuradlng and
speculation on false capital in every part OF the
country, that rapid huctua.ion in the standard of
value for money, which, like the unseen pesIience
wI;hers all the Efforts ofindus:ry, while the sufferer
Is in utter ignorance OF tho cause OF destruction;
bankruptcies and ruin, al the anticipation of which
the heart sickens, must follow in the long Train Of
evils which are assured,y before u.s."