Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-08-04

And fr,nees hearts are rent by storm. OF ear,
While peasants sing. "Iife is not what it seems"
AMERICAN CREDIT is EuRorE.-We ask attention IL
iss annexed letter, written by New York merchant
naw in Europe, u those daily undergoing the murica
non ofh'Asnp his counirys character impugncd, with
eat The power 10 defend IT, with ruh.---
Correspondence q The ~ J.. .l,eerean.
AMsTrnptT, .hh June. 1850.
My dear Sir No one from the nited States who VI.
lie this couniry now or the first time can realize the
change which has TAKEN place. slncca few years, the
Gelings OF Hollandors ards America Formerly the
enlightened citizens Of Holland pointed with cxultston
70 the onward course OF onr Republic and presented il
20 an example of what the energies Of great AID unit
al people could do, when left free and ualrammc led and
with satisfaction did the American traveller then liscn
co. and eompsccnty acnlescc in tho justice ofthosc
comiums. Alas how Is II noW7 Instead Of appearing
here Change with head aud - ,He IN the tile
81 American, with modification I've hears his country
chav Ied with swindlng and cheating" backed BY evl-
sience direct and overwhelming that is fortunate e
him. IT, as In my case he s Tier himself under the
title Of New Yorker and ieu press the hope as did
that a; some future time the citizens Of less favored
States may have as little be ashamed as those
from my native State.
l cannot conceive how sny citizen Of Mississippi or
Michigan could travel through Europe without the risk
III being insuliod al every turn; his own oouurymen
aould despse him he undertook defend their course
and would pity him ii he opposed H. Reputation 81
debt Will be found 10 the end the dearest way To settle
it, But what is peculiarly unfortunate ir us is that
the State gully oft u.s. notwithstanding. the which
suffers least by H. II may be- Just now OF comparative
indifference 10 themselves whether the States of Mich
gan and Mississippi maintain their credit OF voluntarily
destroy 1t; but what the effect that then doctrine has
apjn the snnd port of the Unon and upon the lutte.
States q, large To doubt 10 their moral iu,cp
MY ais and apprehension that such evil examples may
become contagious The s,on of Illinois aud Indiana
even il kopelessy nsolvsn is still enviable compared
with thnse States where dishonest are sanctioned
10 avoid Just obligations These States al least have il
IN then power To come forward with clean hands aud
say to then creditors, Eve have by combination OF cir
eumsiances become deeply involved IN debt So much
%. that ONLY utterly unable 10 meet our Ii
abilities but their magnitude pocudes the hope of our
being IN condition ~ do within reasonable peri
nd; meanwhile they bar the future progress and
prosperity Of the State this debt has been incurred for
ynterna Improvements, not completed and of course is
~ much money sunk We do not ask 10 be DISCHARGED
from our debts but until these works are finished we
have no means Tor paying them: ask your indulgence
until the period of their completion shall have arrived;
u then our expectations disappointed You at least
will be convinced that have made every effort hon
:: sstly. TO fulfil our obligations
say that this course wond place the State pursuing
II INFINITELY above the dsgracrd Of Mississippi and
Michigan. and have and heard enough while her,
" satisfy me that propositions 10 compromise from any
State III difficulty, provided it evidently an honest
one. would be met with grea, liberaty in Holland
On the other hand the disepu,abe of the dcrec,
States have SO exaspera,ed of the oaners those
who have hitherto been must friendly To the United
States that on my asking what chance there was of the
new United States Loan being taken here the reply
was none" and they hoped that not cent would be
got from Europe. until the General Government. by
come decided act, discontinued such swindliny mn
seedings
Gan you wonder, my dear Sir, that write under
come excitement when after travelling through Europe
And finding money abundant every where, indeed vna
'de Tor want OF safe investment per cent per annum
and being told that even Great Britain with her cno
nous, unwledy debt Of eight hundred millions s,esling
would have no difficulty in obtaining sa additional hun
eIea she required II, the o@'ifyng truth presents
se mat the character of our country for integrity and
punctoay stands low. Consequence Of recent oc
eurences as to prevent the Government (now free from
6ebt) from rasrg few millions uf dollars at double thc
ssse OF interest paid by Great Britain For an expana
uon Of this phenomonen look to the States Of Mssssn
pi and Michigan
he subject is far from exhausted but have ,lre,dy
ssnicted upon yon longer letter than intended less
could not say, with my views Of what the duty of
syery American. ~