Democratic standard. [volume] (Georgetown, Brown County, Ohio) 1837-1850, 1842-12-20

believed, any a0oiu0h uefink SeSu ~NS
10 the number al leiiers and newspapers
Transmitted though the mails. The P I.
Once Iass hGvs been honestly adminis.
tered, and fidelity has been observed in
accounting for and paying over, BY the
SnboFdinstes Of the Department, the
MlOnaJS which have been received, For
too details ofIhe service, refer you 10
the report.
Eater myself that the exhibition thus
made Of the condition of the public ad-
minislFatiOn will serve to convince you
that bvaIy proper attention has been paid
la the inieE6sl6 Of The country BY those
who have been called to the heads Of the
diTerent Departments. The reduction
Ia eaannaal expenditures Of the gov.
ernment-already accomplished, furnishes
q sure evidence that economy in the aP.
PlisArion Of the public moneys, is re-
gSTded as q paramount duty. ..,.
Al peace with ell the WOrld-the per-
Gonal. liberty Of the citizen SacredIy
maintained, aud his rights secured un.
der political Institutions deriving all their
authority from the direct sanction Of the
peOPle-with a soil fertile almost beyond
example; and a country blessed with oV.
cry diversity Of climate and production,
what remains TO be- done in order TO ad.
vance the happiness and prosperity Oi
such peOplei, Under ordinary eircum.
stances; this inquiry could readily be an.
SNeFed.. The best that probably could
be done for people inhabiting such 4
country, would be 10 fortify their peace
aud 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 left to their own energy and
enterprise. The embarrassm ents which
Ot the moment exhibit themselves, have
arisen from oyer.action; aRd the most
difficult task which remains to be &C.
eonplished, is that Of correcting and o.
veEcominR ito effects. Between The
wears 1888 and 1888, additions were
made to bank capital and bank issues,
in the form Of notes designed for circu.
'aiion, 70 an extent enormously greOt.--
Tbs question seemed to be not how the
best currency coul d be provided, hut in
what manner the greatest amount Of bank
paper could be put in circulation. Thus
q vast amouni,pf what was called money
since, for the time beng, it answered
the purpose Of ThOney--was thro wr rpon
the country, an over issue which was at.
tended, as 4 necessary consequence, by
an eXtTavagAnt increase Ofthe prices Of
property, the spread Of a speculative ma.
mia ell over the country, and has finally
ended in 4 general indebtedness on the
pa:t Of fSta:aS and individuals, the pros.
WatiOn Of public and private credit, de-.
preciAiI0n in the market value Of real
and personal estate, and has left large
districts Of country almost entirely vita
out sny circulating medium. In view Of
the fact that in 1880 The whole bank |
note circulation within the United States
amounted to but $9I 1923 sos, according
to the Treasury statements, aud that an
addiliol had been made thereto Of the
enormous sum Of $S6. .OOO,OO in seven
years, 1.-THE circulation on the Rrst Of jan
EaTy, 1897, being stated at $l49,lSS,-
S0O,) aided by the grOat facilities afforded
IN obtaining loans from European capi.
lalists, who we're seized with the same
mania Shich prevailed in the
UNited StateS--and the largs imports.
lions u iunds from abroad, the result Of !
stock sales and lOans-no one can be
at the apparent, but uhsub.
Disntial, state Of prosperity which every
where prevailed over ThS land; and while
little cause OfsurPrise shOHld be felt at
he present prOslratioA af every ching
and the ruin which has bsiallen so many
Of our fellow citizens 10 the sudden with
iFawal from circulation Of 80 large an
sWOunt Of bank issues, since 1887
} sxeeSdlnR, as % believed, the amount
added to the paper money currency for
! similar period, antecedent TO 1887, II
:easeS 30 be & matter If astOhishment
hat such extensive Bhipwrecks should
rave been msde 0f private fortunes, or
hat difficulties should exist 10 meeting
heir engagements on the part Of the
lebtoI States. Apart from which, IL
hers be <taken into account the immense
'sses sUSIainedlin the dishonOE Of nu.
neFnus banks. ills less . msiter Of sur.
rise Ihst insolvency should have visited
many Of our fellow citizens, than that
D mrny should have escaped the blight.
NJ Influences Of the times.
In the solemn conviction Ofthese truths
nd with an ardent desire to meet the
ressing necessities Of tho country, felt
10 b. nay duty to cause TO be submit.
ID to YOU St the commencement your !
ne session, the plan Of an ExcheqUeF,
he whole power and duty OF mainIsin.
ng which, in purity aud VIgOF, was 10 be !.
'Xercised by the Representatives Of The q
'eoPse and the States, and, therefore. 2
''F'ualIy Oy the people themselves. II :
vas proposed 10 place Il under the con. u
Of and direction Of Treasury board, 10 q
,Onsist 81 three Commissioners, whose Z
luiy II should be to see that the law or b
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