Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1843-02-09

Aeefne the faitA az a,sYaof eus nSHes pseeorvef.
AK The merchant a Baltimore 10 xhom he
sslls his goods 1t The lewese ystss. He will
tell you that he sells cheaper 10 N. Csrolina
than to Virgins, and cheaper 10 Virginia than
10 the merchant OF his own State. And wbv !
,--Becasise BY the more simple and ready lesal
process OF North Carolina he car, realize his
money sooner than in Virginia, where we have
forthcoming bonds Of three monshs.--snd vet
sooner than in Maryland, whore they have
supercedess bonds-of twelve months. Who
pays this increased profit 10 the northe m mer
chant Do our own merchants nav il 7
Of course MOTT falls upon the consumer
And SO it viii fall in an aggravated degree il
you unwisely tie up or trammel the established
process of your courts. / can add nothing to
what was soswell said by the member from
Halifax a. to its ruinous effects upon the
wholesale merchant of our cities and the inland
towns-uhd upon the citizens in all the DO, der
counties having large dealings with the ada
cent States.-iie demonstrated, 1 thought,
with the very force of,fu,h itself, that il gives
to the foreign creditor, under our double sys-
tenn Of a State and Federal judiciary, prefer
ence and priority fatal to our home merchant
or to speak more accurately, it works this
result by its inability to reachthe foreign cred-
itor, who 10 thus left armed with the power of
the federal courts, whilst il strips our own
merchant Or home creditor of all power Of
reaching his debtor in turn.
And in like manner with the Banks anoth-
er and last suspension would be forced upon
them, which when 1t comes, if come it must,
will, fear, be but the signal for :he violent
overthrow OF the entire banking system. How
| much OF public and private interests i,s down.
fall ohldcarry dong with irin,oihdistingu
able rum care not now to contemplate. Nor
shall d,latc upon the vast field that would be
opened by this bill to the operations of the
Insurer and shaver in these stay-bonls. The
moned man who could afford to lie out of
ms capital two or three wears, would buy them
up at sacrifice rtiinohs TO The holder, who
must lave money for his present wants at any
sacrifice.
But let us contemplate calmly if we can,
the scene that would be presented at the end
OF the year. Every thing has been'ppt into
SUIT. Payments have 'iiotgonc on in the re-
gular old-iashioned way, for the channels of
payment have been damned up by this legal
clog; all debts, old and new, with therinterest
and heavy load of costs have accumulated in
the form OF stay-bonds, which at the end of
the ftrciUe-mossfh HOLIDAY have the force of
Judgments-and all at once, this pent up flood
breaks loose and oversprcads the land Who
or what can stand before II? Sir, the original
debtor, not only, is overwhelmed, but his in
nocent and too-confding security is swept a.
long with him into remet;less ruin:-and this
Sums up the catalogue of mischiefs with which
the measure is fraught.
But we are told the people demand it, and
we their servants must obey. Sir, deny the
fact and take issue with gentlemen upon it.
The people,as solennly believe, demand, nor
expect, nor wish for any snch Legislation as
this. They see that it is vain to look for re-
liei IN any such specific as this-they know but
TOO well that it is a false Elusive hope, phan-
tom that 'ho!ds the word of promise to the
ear, but breaks il to the senseo Flow was it
at the beginning of the session, when we came
fresh from the peoplea was there demand
Tor such legislation; on the contrary, does no.
every member know, that had we then come
to direct vote, this bill would have been
! thrown out by vast majority.
But, if they did demaad it, as they do not and
vein our consciences believed they were mistaken,
and mlsled by the clamors of designing dema-
gogues, and only wanted light and truth upop
the subject, what would be our duty Acting
under all the solemn sanction of our position here
what should we do? Consult self, forgetfuI Of
our country, her honour and her highest interests
Sir, il is this that marks men great or little-as
worthy the name of men or as mere sycophants.
that when the petty transitory interests of self
arc placed IN opposition to tho lasting interests of
country, they have no time, nor heart, nor soul 10
think OF any thing but that country's veal.
Finally sir, this is matter in which eyerv
man has personal stake in point OF character
and reputation; for as the character of each indi-
Vtduai goes to make up the aggregate character off
State, so the reputation of the Commonwealth
10 reflected back upon the citizen. And there is
no truer axiom of political morals than that the
public dishonor is every citizens private shame
truth OF which every honest Mississippian has
felt the painful experience.
i trust, Nh Speaker, that in our action upon
this grave subject, we may act as becomes men
NOT insenslble to the momentous interests con6ded
TO our keeplng-interests not of day or an hour |!
but destined In their results 10 affect posterity
trust that We shall not be unmindful OF the an.
Client renown Of this Commonwealth, so much
Wanted on all sides Of this Hall. trust we
shall not forget, nor cease to remember, thai
we belong TO race and sprung from stock
OF whom 1t has always been held characteristic,
that they were debt-paying people. So that
when We come to record votes upon this and
all other such questions, we shall evince to all
mankind our settled purpose to preserve inviolate
not Only the public credit, but private faith be-
tween man and man. That, discarding the shut I
Ming and temporizing expedients of the day, of
which these disjointed times are prolific, Vir-
GINA will know no policy but honesty, the best of
all policy. Thus shall she show to tho world,
that let others do as they may, she will hold the
even tenor of her wavelet her sister sovereipns
fater as they may, no spot shall tarnish her es-
cutcheon. Thus shall she preserve unsullied her
onoIn for, nx~Is a.