Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1842-12-16

TO save ourselves and all Christondom from war,
we tol by or Executive ard rcnier !! and We
have held back from III" negotiation the other vast
interests 10 which Eagaud not prepared to assert
her clnlms, that she mirht have time 10 ort.ty her
strength N the new concessions made her and, by
ading f'rcn, support the long possc sson hy which
che i r,pcning claim TO our whole domain the
Pacific.
But we leave this point OF foreign p9'lry. on which
British influence prevailed over the tue spuit ri pa
troiism anl Independence TO call the leadt's atten-
ton 10 the renewed Proposition 10 adopt the CXchcf-
system, bOirowed from the same source. 1t will
be that il is the Identical prolecipnpor money,
dlscountrg, exchanges funding, and nj which Mr.
WEBSTER told his friends in Fanou Hall he had sl'p
ell ont. and could answer for rs mechanic could for
an implement of his own making. The principle
which lies at the bottom Of this and Ill such schemes
OF Government relief 10 The peoples is simply the rob
berry of the great body of the people that through it,
the active managing, Specializing few. who live by
their wits, may be relieved and enriched by the spolls
Governments never have in any age or country, in
erposcd in the private money concerns of the people
for any other purpose than 10 help one class-ihc
ssilfu dexiro,is gentry-at the expense of another
class-Ihe honest, laborlng many, who produce all
the wealth of the nation.
Such system never began any where without
ending in issuing ns much paper ns would circulate,
and without one dollar to redeem il.
From the Boston Morning Post
The exchcGucr scheuc VIC cannot approve. We
cannot see how it is To rye sound public currency or
to emnin froe from the charge of having unsaunl
principle ly ~ mt lis basis. The currency it would
furnish cannot he permanent, one for it is nor based
upon specie basis dollar for dollar. Besides: il
assumes what is not fact, that government has not
dome us duty IN relation TO furnishing currency
This is already provided for. II is the constitutional
currency; the hard money currency. The censti
ton provides that Congress shall have power 10 coin
money and rcguatelts value and the value of foreign
If has done this: wisely efficiently, Here
a circulating medium that the world regards rs Of
permanent value. Just 50 far Congress by l"cis
TIC eayS nHaTTsa SO lbs 7 aIs na pSps
le rcd Fl ON its effects And the proposed cxchcCucr
scheme Is superior TO the paper money schemes that
have proceeded 1t IN Congress only in this: that II
docs not propose TO give authority to those who are
to control II to 60 81 far in issuing bills rs other
schemes have gone. Su,l It is to autho'l2r the is
sue OF paper currercv-a circulation ~ fifteen mil.
lions founded upon specie bnss of five millions, with
power TO cnll to the and III case OF emergency, Hnn-
cr five millions IN government stock. Bur brsIts
this there is the ohjectona |" feature of EXCHANGE
smooted down it'll the plausible III even s pllusi-
ble--promise that the bills 10 he purchased are to run
only thirty days and 10 resi- on far and b0pn III,
basis This may first sight but small INIT.
ter But after all It is n machine tfat avarcP and
commercial grcedincss can lnv hol! Of with tremen.
dous effect Business viii smile al the promise
that no bills are to he mCddcd with save only those
resting on an actual bnsis. new set Of men must
arise before this idea can he carried ont. Oar shrewd
est brokers cannot vet furnish then. to say
nothing of the cuplity or shrewdness Of tno who
are too likely To occupy such pnces-wr 'rr'n men
whose tide 10 them vii probably be f' often
Jealous parlisan ei,ri, as business srewduess. Eu
more Of this hereafter
Iron the Albany Argusl
~
As regards the Presidents Cychconer scheme
which is the SUBJECT most iahorcd IN the message
whatever my hc the views of the noj ,ri,y in Con
aress 1t wit Sc crlv command the supnoii "f The