Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1842-08-22

Iheory at our republican frame of government
Wh'cii declares all power 10 be derived from til,
people, anu that its exercise ought always to he
"ue exponent OF the will Of the people.
:, announcer point, which las been, aud at any or
dlnary Junclure, would continue TO be regnrde,
as OF surprising and vital interest, is the grea
question, whether the regulation Of the currency
shall he let 10 the individual aud dscordant &C
tion OF the several states to which the constitution
ny restraining them IRON issuing bills of credit
seems to have denied all power on the subject, oil
whether the national government shall be charg.
ed win the duty OF providing uniform circula-
ting medium for the whole people of the nation
Inc exploded ana visionary dreams Of the sup.
presslon OF every species OF paper money are re.
lected by the wings, and they concur in holding
1t TO be the right aud duty of Congress to provide
safe, uniform, and convenient representative
currency, IN such quantity and form as, with a
proper amount OF specie, will suffice for transac-
ing tle internal commerce OF the country, and
furnish suitable medium Of exchange between
all parls OF the union.
Dut Desdes these great questions, there Is an
olher OF 50 absorbing character, and Of such i'm
mediate and urgent Importance, as, Tor the time,
10 swallow up all The rest Ii is the vital ques-
non oil actual, us well as theoretical aud practical
Independence CT foreign nations Upon this point.
the Wings OF the north are unanimous. They are
agreed, that commerce aud manufactures should
I've so regulated That the former shall yield reve-
nue. sufficient for the wants Of an economical adj.
minlstratlon OF the government in time Of peace
unu me iatier snail enanclpate us from huHnila-
,u"S uePehuehce on the workshops OF Europe,
Do'" !" pence ana III war. III we are to Judge our
opponents ny Their practice, rather than their pro.
JesSionS' we snail hnd them TO be equally unani.
NOUS upon The other side OF this great quesi;aI
M" v" no ''na"''" "'''''n" ~ 'I@ ~-~~-
s,~...,J ~,"..o =, Vs,,auun OF ev-
cry branch Of domestic industry, the adoption OF
the principles OF free trade and finally at the sub
sutution OF direct taxation, with all its inevitable
corruptons and abuses, for the system OF duties
upon foreign trade-a system commended 10 us
by the light OF experience, not only as vastly more
economical and less burdensome to the Citizen but
as attended with incidental advantages of meal
culnble importance.
In the infancy of our republic it appears to
have been point generally conceded, that the ell
enlargement of domestic manufactures was an
object not only ofthe highest ultimate importance,
but completely within the scope of the legitimate
powers Of Congress. At that period however,
the physical resources of our country were Who'll
ly undevoloped the quantity of raw material for
any branch of industry then produced, or easily
producible, was very trihing, and almost the whole
surplus capital of our citizens was engaged in
those merchanule enterprises which the wars siic-
ceeding the French Revolution, by throwing the
commerce of the world into tho hands OF the A.
mercans the only neutrals had rendered so Ia.
craliye.
This source of profit being cut Off and our ma
kedness fully exposed by the war of 1872 when
our own government was reduced to the shame
iu necessity of purchasing The blankets for our
troops from our mcrcenary enemy, and even OF
winISing at the violation of our own revenue laws
in order to encourage the trader to run the addl-
tional risks oil commerce with hostile country,
in supplying us with these and other necessaries,
the eyes of all sound statesmen aud acute capita
lists were turned TO the praclby aud expedIen-
cY of making American capital labor aud skill
supply us with those articles, for which the raw
material could lie furnished abundantly, and ad-
vanIageousy TO The producer from our own for
ests, mines and fields.
1t was soon obvious to the ever walchiul Jeal-
ousy OF the South, ibet tho climate ecunInry cap
ilal, local advantages and above oil, the free in
stitu,ions of the NORTH would give that section
OF the union decided advantage over every 9TH
or, IN prosecuting the various branches OF produc-
i've industry, ana It was unprecedented, mat the
power, wealth, and population OF the Tree states
might consequently he increased TO such degree
as to commentaries The unjust advantage which,
was too readily yielded to the South, IN the orig
lnal adjustment OF the basis OF representation
Constitutional scruples were now suggested ana
men began to speculate, 10 dpnht ana 10 'heor,se
uponthe power OF Congress 10 grant my otner
IMAM ihcldunta protection 10 manufactures MS
wings regard II as settled, upon Principe as wen
as precedent. beyond Inc reach OF lulure caVi' or
dispute Inc SCUM neVerlheless' ana inc "hoie
opposlllon party IN congress Sill dehy 'he power
oil speclhc pro'ection ana III general, even 'hat
OF imposing discriminating duties with a view to
protection.
The issue then between US and our opponents
is simply this shall our own cn'zens be allowed
to supply us with such necessares as ohr SOIL,
climate, aud condition enable us 10 produce advan'
ageously, or shall foreigners, while themselves re-
fuslng 10 purchase from ns any thing but the raw
material Tor manufacturing, he encouraged TO sup
plant US IN our own markets with wares winch
the cheap labor OF IN enslaved, crowded, aud star
wing population enable them TO sell ut lower prices
than can he Afforded ny those VINO pay me laoor-
or fair and honest price Tor the sweat OF his
prov!
Shall we tax the labor Of foreign mahuiac'ur
ers, when they surielt US win the productions OF
their workshops or shall we ourselves DC taxed
10 support not only me Pauper laoofers, pul 'he