Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-07-18

'he oouhtry, no one can discern any termination
OF this sad state of things nor see in the future
ny. glimpse of light or hope.
Is not this faithful, although appalling, picture
OF me United States in lS42! lappeal to all pres
ent, wings and Democrats, Ladies and Gentle
men, to say il it be at all too high colored
NOW let us see what was our real condition only
the snort time of ten years ago. had occasion,
IN February 1882, in the Senate of the United
States, when was defending the American Sys-
TEN against The late Col. Ilayne, of South Carroll
na to describe it; aud ! refer TO this description
as epidence of what believed TO he the state OF
The country NJ that time. That it conformed TO
the truth of The case, appeal with confidence to
those new present On that occasion, among 9TH
er things snil:
81 have now TO perform the more pleasing task
OF exhibiting an imperfect sketch OF the existing
state Of the unparalleled prosperity OF the country
On general survey, we behold cultivation extern
ded the arts furnishing the face of the country
improved, our people fully and pioftaby employ
cd, aud the public countenance exhibiting tran
qulll'y, contenment and happiness. Aud, If we
descend t1to particulars, we have the agreeable
contemplation of people out OF debt land rising
slowly IN value, but in II secure and salutnry de-
gree; ready though not exruvngant, market for all
the surplus productions of our industry, innumer-
ahe hocks and herds browsing and gaInbolling on
ten thousand hills and plains, covered with rich
grasses; our cities expanded, and whole villages
sprngng up, as it were, by enchaniment; our ex-
ports increased and increasing; our tonnage, for
eign and wise, swelling and fully occupied !;
the rivers OF our interior animated by the perpet
ual thunder and lightning of countless seamboas /;
tile currency sound and abundant the public debt
of TWO wars nearly redeemed and, to crown ALT
the public treasury overfowing, embarrassing Con-
gress, not to find subjects of taxation, but to SO
lect the objects which shall he liberated from the
iinpost. If the term of seven years we've to he
toll pI hirtt
pie have enjoyed, since the establishment of their
present Constitution, it would be exactly that peri
od Of seven years which Immediately followed
the passage of the Tariff of 1924"
Aud that period embraced the whole term of
the administration of Mr.. John @. Adams, who
has been so unjuslly abused.
The contrast IN the state Of the country, at the
two periods Of 1882 aud ls42 is most remarkable
and startling. What has precipilated us from that
great height OF envable prosperity down to the
lowest depths OF pecunlary enlbarraSsments? No
foreign foe has invaded aud desoa,ed the coun-
try. We have had neither famine nor earth
quakes. That there exists cause there can be
no doubt; md ! think it equally clear that The
cause, whatever it may he, must he n general one;
for nothing but general cause could have produ.
ced such wide spread ruin, aud every where we
behold the same or similar effects, every interest
affected, Gvtry section of the Union suffering, all
descriptions Of produce and property depressed
in value. And whilst 1 endeavor to find out that
cause, and to trace TO their tue source the dsas-
! trous effects which we witness and feel and la
ment, enueat the democt ratio portion of my au-
dIence, especially, to listen with patience and eau
| dor, and, Diminishing fer moment party blases
| and preludLes, TO decide with impartality and in
spirit of genuine patriotism.
| 1t has been said, by those i'll high authority
that the people are blame, and not the govern
mcnt und that the dstresses of the country have
| nj lla
| people have been even Reproduced for expecting
| too much from government and not relying sutii
cently upon their own eXertipns Aud they
! have been reminded that the highest duty of the
| government is to take care of Itself, leaving the
people to shit for themselves as well as they can
! Accordingly we have seen the Government re
| treating from the Storm which it will be seen il
the sequel, itself created, and taking shelter under
| The sub treasury
! That thele has been some speculation and ovei
I trading may I've true but Hll have not speculated
and overlraded; whilst tie distress reaches, i
not in the same degree, the cautious and the pru-
dent, as well as the eulerprising aud advenIuroui
! The error of the argument consists in uIisiaklg
the effect for the cause. What produced the ov.
er trading! What was the cause o. speculation
How were the people tempted 10 abandon Tie
| industrious aud secure pursuits of life, and EN-
bark in doubtful and perilous, but seduciug enter
prlzes' That is the important question.
NOW, fellow cilZens, | lake upon myself t.
show that the people have been far less TO blame
than the government, and that whatever of erro
they committed is the natural anil inevitable con
sequence OF The unwise policy OF their rulers. IL
the action OF government is mainly ascribed thu
disorders, embarrassment and distress which a.
have now so much reason to deplore. And, Il
be yet more specific, think they are fairly 10 b'
attributed 10 the action Of the Executive Branch o
the Federal Government.
These facts or events, all happening about th
same time, if their immediate effects are duly con
sldered, will afford clear and satisfactory solu
tion of all the pecuniary evils which now unhap
" aliilct This country.
The first was the veto of the recharter OF III
Bank of the United States. The second was tn
removal the deposles of the United States iroH
the Bank 10 local banks. Aud the third was tn
refusal OF the President ofthe United States, by a
arbitrary stretch OF power, 10 sanction the pas
sage OF the Land Bill. These events all occurrc
in muir atIpp linn nd nrh Of Ibat