Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1843-02-21

The merit Of any system Of government or
internal regulation of society, must be Judg-
ed by It's practical application. There gre
many things which appear beautiful in the
| ory, but which work mischief in their prac-
teal results. There must be something rad
icalIy wrong in our system of government
tai policy; for no one will deny but that
the pecuniary embarrassments, CONNER
cia distress, and general deragement of bu-
siness which pervade the whole country,
are the result. Of our peculiar polltical lnsti-
tu.ions. With a country having supera-
with its granaries filled to overlooking,
and surplus continually seeking market
abroad; yet involved in debt, and crippled
in almost every department of business
Surely there must be something defective
ia our internal policy, and system OF finan-
cial business, or else such results would
not grow out Of such an arrangement
Food, clothing, and the important necessa-
ries of life. are every where abundant; the
laboring classes are 10 90 danger Of suffer
ing for the want Of bread. nor is any por-
ton OF the community in want of means for
sustaining life. But while the lahors Of
the husbandman are rewarded with bounti-
ful haryests, and the year i crowned With
plenty, still the great mass Of the American
people are 10 debt. Many of the states have
liabilities resting upon them beyond their
ability to pay. Every department G: trade
and business, every occunotion,'is Iaboring
under pecuniary depression. Go where
you will the people ere in debt, aai the
pressure Of the times is the prevailing
theme Of remark.
Such being the fact, in relation to our
present history, i. becomes IN TO enquire
into the causes which have led to these re-
suits, in order that the evils Of tie pas:
may be avoided in future. No candid
mind can review the past and contemplate
the present, without arriving to the con-
ciusion, that there has been something de-
fectve in the internal machinery of gov
eminent; and hence the apparent necessity
Of pursuing course better adapted to the
true interests Of the people.
A great variety Of remedies have been
proposed as relief to the existing state Of
things, and as the best means for carrying
forward the operation Of government and
OF business on more permanent basis; but
these several remedies may all be resolved
into but two primary principles. One Of
these principles is essentially the whig pol
icy--,he other, the democratic policy
The one proposes to remedy the emtar
easements Of the government and the peo-
pie by extra legislation; by making one
dollar count taro and half or hreeN The
other contends that there has becn already
too much legislation in this respect, and
that to attempt to legisgcte capital into ex
istence, is to produce an ideal condition Of
things, and bring only imaginary relief to
the people. The wing policy proposes as
a measure Of relief, the creation Of y Ecti
<icus capital, TO enable the people 10 dis
charge their liabilities, through the agency
Of National Bank and minor corporate
institutions. The democratic policy insists
that TO The credit SYSTEM, and the creation Of
fictitious capitol, can be traced the legitiui-
ate causes OF the present pecuniary dis
trcgs Of the country--it holds that the gran
ting to corporate bodies the privilege Of ma
king one dollar count two and half, is
calculated to produce false values, and un-
real estimates Of the true condition of af-
fairs; and that it will consequently only in
volve the people deeper in the labyrinths Of
misfortune. The democratic party holds
that the only safe dependence Of the peo-
Pile is upon resources drawn from the earth
and that the substitution Of that which only
promises value, for that which possesses
intrinsic value, is perversion Of the nat
urel laws Of trade, and an an impoli,c gov
ernraental arrangement. Which of these
remedies reader, do you believe the bes,
adapted to the present condition Of the peo-
Pile? Which ia calculated to place our in
situations and business operations upon the
most sure foundation, and which will Sc
cure the greatest psrmanency for the fu-
tuFe?
II will be recollected that some two weeks
ago we published statement made by F.
Gilbert Esq. of Green Bay, relative TO an