Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1842-03-04
From the National iateHigencer.
TRUE PROPHECY.

Having met iG the Cincinnati Gazette
received yesterday, with an aItcle or
gInally published in this paper a year
or two ago, entitled
"Ihe Predictions Of aUiSe Statesmen of
the consequences Of the Erpe, ment,"
and having The curiosity to reperuse the
article, we absolutely started at the life.
like dlineation which it shows 10 have
been made, ten years ago, of the consc.
quences that may be expected TO result
from perseverance in the wsnton and
foolish experiment upon the national
prosperity which has brought the coun-
try 10 the condition it is now n. Every
day, for fcur or FIVE years past, we have
realized more and more iorribly the
truth of these predictions, and now more
iorclbly than ever.
Our readers will bear with US whilst
we quote as follows, one or Two passages,
luIl OF instruction and illustration, from
the arucles to which we refer.
When 10 July, 1882, a bill for rechar
terlng The the Bank of the United States,
having passed both Houses of Congress,
aud been seat to the President for his
signature, was returned by him to the
Senate with his objections, a solemn de-.
bate took place upon the question, aris
ing, under the Constitution, whether the
bill should pass Notwithstanding the Pre-
sldent's objections; in The course Of
which debate, as recorded in the Regis
ter OF Debates, the following remarkable
passages occur:
Mr. EWING, Of Ohio, said, "lr this
institution is really TO be prostrated-if
1t have now received its death blow, and
is but to wait and prepare Tor its 6ual
lall-the distress and ruin which it will
occasion rests mol with the wealthy mo.
ney holder, whose funds have found an
investment in lis stock; but It must come
with fatal and unbroken force upon the
industry, the enterprise, the public pros
Perlly, and private comforts of the whole
extended West. The Bank of the United
States must withdraw its issu s." &C.
And then Mr., Ewing continued as fol-
lows: but this is not all. You sap the
mardIS at The same time yOn thus radely
shake he prosperity Of a people. Their
first resort will be to Legislative aid, and
relief laws follow, or, in other words,
laws 10 prevent the collection OF debts,
(tor what Legislature can Withstand the
appeals of a whole people suffering un.
der general visilatIon?) or, if not that,
the creation of host oil banks with fc.
tltIous capital, which may seem for a
time to suspend the blow, but will make
II fall the heavier az last. And then,
instead Of the safe and sound currency
'0h,ch zoe now enjoy, Ve shall again have
a deprecated and UorthleSS mass of trash
'phIch ao'll pass into The hands Of the peo.
pie, and there sink into nothing, leaving
them 10 bear the loss"
Mr.. CLAYTON spoke IN The same
spirit: "Tho prediction Of Mr. Lowndes
IN 1910 must be fulfilled: shat the de-.
struction of the United States Bank
would be followed by the establishment
OF paper money he firmly believed; he
might also say he knew. 1t was an
extremity he said. from which the House
would recoiI.' The farmer must again
sell all his grain to the country mer-
chan for State bank paper al discount
Of from ten 10 tOenty, or epen thirty per
cent. in the nearest commercial city,
&c. "The loss of confidence and