The Democratic Whig. [volume] (Columbus, Miss.) 1842-1843, 1843-09-01

III My late enmIniiri1 ion - var - = ~,
] brief, yet was not Sufficiently exDlicie An re
u gard to the operation of Protective 49, -
the curreacy. 4 said, ils tsndDncyis % FaInir
, the precious metals IN Tlib otnnary, ana aFna.
uaily diltnso 1heni lhrone h0nt the land; fhnr
q PEctectiv0 Tariff haa ehis effect, there cam
not be the Slightest shadow af ~ doubt. -
The crisis Of 1857 must BE- indellbly enRrms
ven on your mDni0HY. What br0IrnhT q
about Z The causes NeFs numaror@ 80
savage and relentless crusade bf the Govern.
ment at win not be credited fifty yeamhence
that our national goyeF1nentD owning several
mIilIons OF the stock, ID e var upon It's own
national baDkl upon thelenTency' Ofthe cOm-
| try the consequence cAVwhich was the pros
tratlon OF the United Sites Bank, which op-
Grated as beneficial check ON the State
Banks, and the substituticn Of some four Or
nve hundred State inetittmtins. not bEonRht
INTO beng 10 regulate the ezchapges and gtue
facilities to carry on the business ofthe count
ry, but to afford 4 field for. speculation ana
gambling. Next h order came the InOrdinits.
desire to grow rich by bank stock Specu-
lanons. which the banks themselves encouFag 4
| ed 0y flooding the country with paper or trash
winch many of them never intended TO redeem.
Following close upon the heels of bank i'm.
prudence and folly, came the ambition 10 grow
Suddenly rich by specializing ID lands, houses
and lots, which wound up By the ruin Of hum
dreds of thousands But last, though not
least came BY way ofcapping the climax, ex'
cessive imports, which not only brought u8
heavily in debt to the foreigners, but was the
prime cause of the awful commercial Fevnl'
sion of 1887 and the suspension Of specie
payments throughout the country. Had the
Iarlffbeen as protective them ais it is now there
would not have been such immense imports,
and consequently, exchange on England
would not have advanced above par value.
The balance of trade!in 1887 was against uss
and hence the stoppage Of all the. banks from
N. York to N. Orleans. If they had not stop
ped paving specie, foreigners--a vast number
OF whom have their branches and agents here
would have swept OF almost every piece
OF coin in the land. In consequence OF the
suspen sion of the banks and the failure Of
thousands of merchants, who imported more
goods than they could either sell or pay for, in
stead OF enhancing the rate of foreign ex-
change, which when it goes above 9 per cent
premium invariably causes refux ofspecie to
Europe we have within the last SIX months
witnessed most salutary thing i. e. great
influx in that most desirable article. Estab.
fish free trade, however, or even make ma
terIai reduction Of duties on foreign fabrics,
and you will soon see a rise from foreign ex-
changes and there muAt Inevitably follow an
other drain of specie to Europe, another gug.
pension ofthe banks, and by consequence an
other commercial revulsIon more terrific prob
ably thanthatsof 1887.
1t requires no Cassandra voice to warn us Of
rocks on which we have 90 frequently stranded.
Whilss we are protecting our own domestic.
industry, and the millions Of mechanics, labor.
ers; &C, to az nothing Of thess Factory girls,
g Lowell many Of whom ara the gupppff q
superanuated mothers and fathers We pro-
sect ~ moderate Tariff; the whole country
nom poverty and desolatiOn. The c0mnfry
Nn'cn ~ rlen N the elements Of wealth and
PIospenty houid manufacture more and
'Ilpurs less. Foreign nations VII never
Baltimore made speech about ~ aarnraer
mercial treaty, but Mr.. Webster knew, Whine
the words were rolled from his lips that Eng.
land viii never sanction any treaty with tins
County, unless it bein her favor. England
knows fell well. that her internal regulations
have contributed much to her present great
ness and shetwill be wary in ma king any
changes at all calculated to retard her own
ward course. The acting Presfdentmay, AZ
often as he Pieases, request our Minister at
St James TO introduce Gen. Duff Green or
any other bearer ofdespatches, lo Sir Robert
Peel, Tor the purpose of discussing the subject
but rely upon it, Sir Robert will not give any,
one from this Country the slightest attention,
unless there be bright prospect of England
becoming the gamer by artreaty. She win
never admit our Flour at a low fixed rate ofdu.
ty'; and why should MIR. Webster talk 'bf the
Of low dutysO on maize Wheat is
he great grain article (fT sale( of The u.
States. and it is the only grain we desire Eng.
and to admit at low fixed rate Maize-or
rather Corn as we in the South call tits used
IN immense quantities by the whites as weITaS
he blacks Mr.. Webster knows very well
hat the English, people would not eat orr
But the Tariff (ohce more and the last
tIme) again why not allow youf c6ttontO
be manufactured at your own doors? Why
AK yourselves with the expenses Of IL from
Charleston to Liverpool, and from thence 10;
contribute to foreign Iabour;
and wien the articles you need are manufacu'
Iured, add further cost By charges from Mari
chester ia Liverpool and from Liverpool TO-
Chariestona Why tax yourselves'in ihiswaS
to oblige foreigners and foreign capitalissBi9 In
there any sense IN III In South CatDlina
happen to know there are several laetofiasi =.
NJ. Caroline there are 2O'odG In Viz 80, 40
some 8 or 70 and perhaps more & w bv mot
allow your own PEG ple-whO .havr, ;nyss1sa
their capital in these establishment - 80
nfacture your short staple (bye ana i've 49,
England may not want your ,one, st:,,ls'' 80 -.
may be SKID. ,,l erS,,.h -.
sumo that alsc)-and q. nolv Won viii y sbeat.
Ings and snlrungs AZ a ieas pnce than foreign
When Iast acIdressed you. / predicted that
Engianos an1 .ous for the control of a country
adapted 20 rne cultivation Of cotton. would ere
eng maze some advances TO our neiRhbOrinR
hepuEhc-Texas When peuned that pFo.
PnecGs little thought sheehad already begun
20 work Dvs yesterday read i'm q Ilew9pa.
per that sne is already sort Of mediator be.
tWeer that Republic and Mexico. This move.
mcsnt on the part Of John Bull, TO casual IS.
server, looks kind and generous very; but Mr..
Bull has made his calculations and as soon 90
peace is is made between Texas and Mexico.
he VIII propose TO relieve NIL her financial
wants-and know they are many end pres1ing-
Texas wiz join England in'a section opera
tion," and at The same time abolish slavery;
not that England cares anything nhoui the
traldom Of the comparatively few slaves i'm
Texas-Ohl no. not that-but becanee she
would be getting hold On good coflcm
country. and e The very moment Of d0lng that,
strike a blow Gt SLAVERY on oar paem beF4gEs-
ant / must stop 4 ca down % might Co
,-v;fu nnlv what 0miifaNfin my labt letter.