The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1842-12-17

ing iss general usefulness. There has bsen 4
an increase Of revenue equal 10 e166, 600,
for the yess. 1912 over siiat Of le4i without,
as il is believed, any addition having been
made 10 the number Of letters and ne wspa
pers transmitted through the mails. The,
Post Office laws have been honestly al
minislered, and fidelity has been observed
in accounting for, and paying over by the
subordinates Of the Department. the money
which have been received. For the details
ofthe service, | refer you to The report. h
l fla,ser myself that The exhibition thus
made Of The condidlion OF the public admia
isiration will serve 10 convince you, that
every proper attention has been paid TO the
Interests of the country by those who have
called TO the heads Of the different Depart
ments The reduction in the annual ex
Penditures of the Government already
accomplished, furnishes sure evidence that
economy in the app,ication Of ,he public
moneys, is regarded as a paramount
duty. ins.,rae "a rs sisd 10 yasse8tsf
AT peace with all the world--the person
al liberty Of the cl,izens sacredIy maintained
and his rights secured under political ins,ilu
tions deriving all their authority from the
direct sanction of the people--whh a soil
turtle almost beyond example, and a coun
try blessed with every diversity of climate
and production, wha. remains 10 be done
in order TO advance the happiness and pros
peri,v Of such people9 Under ordinary
circumstances this enquiry could readily
be answered, The best that probably
could be done for people inhabiting such
- - r.. bn:.
and security, in the prosecution OF their
various pursuits, by guarding them against
invasion from without, and violence from
within. The rest, for the greater part,
might be ,lef. TO- their, own energy and en-
terprise. The chief endorsements which
at the moment exhibit themselves, have
arisen from over action, and the Most
difficult task which remains 10 be accom-
pIished is that Of correcting and overcoming
its effects. Between the years 1888 and
1898, additions were made to bank capital
and bank issues,in the form OF notes designe
ed for circulation. TO an extent enormously
great The question seemed 10 be, not
how the bes. currency could be provided,
but in what manner the greatest amount Of
bank paper could be put in circulation.
Thus vast amount Of what wass called
money-since, fordhe time being, il an
swered the purpose Of money; was thrown
upon the country; an over issue which
was Necessary consequence,by an exlraya
CANT increase Of the prices of all articles Of
property. the spread Of a speculation mania
all over the country, and has firaily endet.
in general Indebtedness on that partIi Of
tuJ.usIrotof s1aa n
public and private credit, deprecalionin
the market value of real and personal estate
and has left large districts ofcouniry almos,
entirely without any circulating medium
In view OF the fact that, in 1890, the whole
bank note circulation within The United
States amounted 10 but $7l 1923, ,89S, ac
cSrding to the Treasury statements, and
that addition had been made there.o Of the
enormous sum of $sS,000,0OO in seven
years, (the circulation on the first January
1887, being stated a; Sf49, 1875 ,S90,) aided
by the great facilities afforded IN obtaining
loans from European capitalists. who were
seized with the same speculative mania
which prevailed in The United States--and
the largo impnr,ations of funds from abroad,
the result Of stock sales and loaas--no one
can be surprised at the apparent. but un.
substantial state Of prosperity which every
where prevailed over the lands. and Willie
little cause Of surprise should be fell. at
the present prostra,on Of every thing, and
the ruin which has befallen so many of
our fellow citizens in the sudden withdrawal
from circulation Of so large an amount of
bark issues, since lS37-sxceedng, as is
believed, the amount added to the paper
currency for similar period .an,ecedent 10
1896, it ceases 10 be a mat,ersof. astonish-
ment Mat such extensive shipwreck should
have been made OF private fortunes, or thai,
difficulties Should, exist in meeting their
engagements on the par. of the debtor
States. .--Apart from which. if there be
taken into accoun, the immense losses
sustained in the dishoner ofsnumerous banks
il is less matter Of surprise that insolvency
should have visited many Of our fellow
citizens. than that 81 --apy should have
escaped the bligh!iag influences Of the
times. Aefst Hti M bhs iHia
In the solemn conviction of these truths,
and with an ardent desire TO meetsahe
pressing necessities of the country, felt il
10 be my duty 10 cause 10 be submitted to
vnu at The commencement If yf,,,r late