Daily Richmond Whig. [volume] (Richmond, Va.) 1840-1842, 1842-03-23

the bright experiment was accomplished, almost o
demonstration, laid himself down and died. Why
| Ir does not every body know that money is scarce
eeyone oil former parallel aud precedent, and that
! appalling difficulties pressing upon tho debtor
class oil the community, consisting of at least nine.
tenthS OF tho whoe-tho weak class, the class
standing In need OF pro,ection-the class which the
masnanmous and the good and the wise, are ever
wont to array themselves on the side of-and il IL
Tor the protection OF this class, that contraction IL TO
be made more contracted, till the Shyloeks of tho
land, with every pound Of flesh that is in the bond
are to glut their avarcious appetite with the ye,v
, hearts blood OF the unfortunate debtor who con.
, uae'ed MS engagements under extended paper
eireulauonl Shalln whole community suffer, TO
satisfy few restless and reckless spirits AIDED by
unprinciped f,ctoniss and partizan Leaders whose
very slarg gospel to their followers1 Or is tho
interest OF the Shylock alone to be consulted; and
OF brokers and shavers, the hnrpies and vampires
that make war against the trade and industry of
the country. and prey upon the community in moro
odious shape and form, than Hyenas upon the
graves Of the dead Arc these tho great interests
that wise and benevolent and magma nimous Le-
! eislnturc have been in such tedious and nrduous
travail to foster and protect Who but the broker
brings about snspensi,n-who els. wants any Sc
rous amount OF specel who else than the Shy lock
anu shaver are the advocates OF contraction TO
o'"g 'he unhappy and unfortunate debtor to tho
grinding stdndardl The bone md sin.w-tbe
Merchant, the Mechanic, and tho yeomanry-thev
tell you paper dollar, ii il has Il sound basis il as
sooo ., 'he brightest yellow jacket or mos, brilliant
spanish m'Ied dollar. that ever 90, into bad com.
pany in Benton's breecheI pocket. They know !,
10 be capable OF performing, and more conveniently
NJ many useful functions. and TO answer every VAL
9,oe end to all n'ent' and purp' ses. just as well
but our notes are under rnr abroad-down 10 4
and I'D per cent discountl Who cares If they are
20 per cent. discount The cheaper thew nro
ABROAD, the more rapidly will they flow back
omonss, Us, ana relieve the public distress We
arc teauy ana anxious to give more for them back,
than VIC received in exchange; and Dies the Legis.
la'ure desire to pile heap upon heap. the burden
ara misfortune OF contraction, upon Virgins, and
Virginia nlone1
But the Merchnntsi Oh, what a tender cord
and how senstivey heave the bowels of compassion,
OF tho habitull disclaimers and slans.whnnsers
| against the Merchants, when you touch with n
rude hand, this darling interest o, no-you could
sooner catch weazel asleep, than fool a Locofoco
from his guardian protection md care of the Mer-
chants interest. In some things, when the wind
IS NJ N. N. West, they might be at fault, in
hmding out hawk from handsaw; but Just ego
| " TO come It OVER the Merchant, and you meet
the constitutional currency" man exactly upon his
own 6unrhill-as much in his proper place rs YOU
"oud hnd that fantastic prank of fortunes Golic
mo Petlee' monument OF national shame. Captain
Viet, IN MS, " he were stretched defurci upon the
| w Washington City commons. But the N.tcb,n,I
Tic will be ruined IN his loss Of exehu nee in yis
np his Northern in MISUNDERSTANDING cruelty to
the Locos "best beloved" Is il to he nr,usd ;ha,
every other interest is TO be sacrificed and vhoIs
community destroyed. Merchants and all. 10 snven
score or two Of these very Merchants from an ncon
siderable loss o exchanged What he Mercha Mt loses
the Agricuurst that supports the Merchant y,;ne'
and he gains precisely where the Merchant loSos
IN the additional prices. in the same market for ths
commodity he sells, aud he pays the Merchant who i,
pfoh!ed at his expense. And does any man believe
that IN the operation OF things not 10 be contrn
Verted as supposed, the facility of collections and
the security of debts would not vastly more tbnn
couh1eroa:anee any possible less Of exchange on
the part OF the merchant
But the Bank has promised to pay and does not
i ylnl
Is precisely the predcament that the peope of Va
as community, are in ct large. Who else owe Tho
virginia Banks themselves, but the people Of Va
~ certainty Is not the wooden and brick walls that
these abrcs are made Of that constitute the Banks.
nut the Banks the people of Vireinia them
selVes-ihe stockholders, the notehold.rs and IN.
ueotors, mixed up and interviewer in such indisso
Inn'e connection, that you cannot ujure the one
"iuoul inJuring the other. The Common W cath
AZ large, as body polite, fills each character and
IS stakeholder, debtor and noteholder and about "a
uneomlouably minus IN the latter, as the most brn-
zen mothers son among the brawlers for Bank re-
sumption, Is alike minus Of capacity for the punc-
tua redemption probably Of his own obligations
ana more certainly Of common benevolence and
substantial patriotism. With precisely the force
!ne . LEGISLATURE bears down upon the Banks, with
Just that force the Banks must OF necessity bear
GOWN upon tho people, with this mod fcntion that
the Banks are rather the MEDIA through whom tho
in force Of the ruthless blow falls upon the people
U"e"seNes, as lar as we can imagine the people
%
matter, sound policy is IN violent connic, with the
recent determination OF the Legislature Can he
right, upon any principle, to imperil such general
and widespread ruin and calamity Should not
even few citizens be saved, who can he saved.
rather than IN forced contraction creating so sud
den and great change in the relations between
creditor tnd debtor, put TO defiance that which
ought to he the supreme law, the saus popuK1
why 10 save one citizen from foreign injury we
would be ready 10 wnge war against the most now
eIiul nation upon eatth-and shnl! we stand nv
virginia Assembly, and say, swell done thou good
and faithful servant" when we find that VirSini.
Assembly reereant TO a sacred trust making war
against virginia, her people and her best intereIs1
hope TO God, neverl Only n few words more
and am done. How IL in England She
too, was overtaken with n currency crisis that
levied contributions upon her wisdom and her
sngaeiiy and the requisition was met as be-
hued the Ango-SaXon spirit. She saw and
understood the crisis and the remedy:-Eng-
land went 20 work TO save herself and her nco-
pie, and her government-and she suspended sneei.
payments in the legalised sanction OF such suspen
son by the Bank Of England, rn,her than cut her
own throat. She did absolutely suspend 26 wears
TO wit; from '97 TO 1898. Ii Enelnrd had heard OF
the humbuggery OF the metallic tractors" perkins
points) she at least pretty free from politeaI
empircIsm for she had her hands too full TO suffer
such ntisance into her Councils. Children's logic
and the groom children themselves, too, we're left
about the nursery, and her councils were free from
these modern political economists and Doctors who
would cut out mans heart, and take nway tho
fountain Of vital circulation 10 give tone and yigor
TO the vital system. Englnnd, too was free from
iha, most grevous Of public curses, .9Bsraefionis
England never perpeirated the supreme folly Of
refusing money that justly belonged to her, and OF
resorling TO taxes upOn musical insrumens-per-
maps, the Bible nextl-to supply her treasury from
people beteit Of common means Of meeting ordi-
nary burthcns. But modern Democracy has n
way OF her own Of saving a flock Of sheep
by fret letting in gang Of wolves and then
killing the rest that left by turning n
key upon the fodder in the barns, and prohibiting
fresh supplies Really, Sir. IL looks as il the Vir-
GINA Legislature had assembled not TO take cnre Of
the Commonwealth and the people, tut 10 expert
ment upon them, Ms have seen q dog eYprrit ented
upon TO ascertain how much Prussic acid he &C uld
take, and keep the upperhand Of this side che
shndes"-nnd MS philosopher experiments upon n
dead frog with gnvanic battery. There is in
decd, sir, IN sober seriousness q spirit Of rndcnsnD
and rccklcssness abroad IN Virginia and other paris
OF this once prosperous acd happy Republic OF
ours, that docs to me To be the very demon of
mischief. But am disressing-I was speaking Of
the courfo Of own ancestors under liks
crisis. England suspended specie payments
tweniY-sx years; and England saved herself
her Banks, Government, people and NIL 10y the
process. Her Bank was her people, for who else
Than her peopo formed all the elements Of the
Bank The Government md the people protect
ed tho Bank and the Bank extended its mid 20 tho
Government and the people. To give efficiency to
the powers Of tho Bank in supplying sufficient cir.
culition, issues wero authorized 20 supply substi
iuie Tor coin in making small payments and to pive