Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1843-03-10

| SOu VI WlsA % 0uEtOuOy sOt Ouun tPHPN'
and specie, 'is the representative of'the
value Of the property oef country, Is
a fact conceded by all parties; and thai,
in proportion tothe increase Of the CIR
culatien. prices rise; AMI 'in propOrtiOn
ITO the decrease. prices TALL or, ia other
words ii the -slaHdard Of value dsefeas
90, everything represented by it'rstro-
.gadesin exacl. l.proportioB. Hence sit is,
that in- the years 1886 and 1897, when
the circulation was inflated to douhlethe
,Presen; aHloGBt, prices we're double " hat
they now are. That infati0a oil ciTcu-
taIion and consequent imitation OF prices
was caused by democratic policy"
which gave toHs the State banks, and
-stlmaIaled them TO eXtravagant ennis
siOns OF paPer; but no sooner wasAhe
object accomplished than the popular
prejudice which was awakened by the
appeals Of demagogues against ,heEUni
ted States. Bank; AND, not -sated by its
Prevels amid the ruins Of the best cur
rency ever given 10 nation, turaed like
like hungry tiger upon these ~'Iittle
monsters" and The leaders Of the party
were compelled To-. join,in the attack, ,.Or
OF be's@opt from the political world by
the fury OF that spirit which, for anolh.
er'purPose,s they had invoked. They
-dIdJoIn 10 the attack, and these curren.
Ecy'banIlIHgs Of theirs were denounced; /;
their very fathers at 6ssl cast impulaGlons
upon their legitimacy, and ultimately
threw of all guises, and with bold pro
Ehtgaoy declared them TO be Of Wing ori.
~gln, and UGworthyo of the oeUHtenance Of
the ,DcmecrVcy Credit cannot exis,
against popular will; and the credit oil
these institutions, by the ccsseiess at
tacks ol party leaders, was destroyed. .-
They were compelled TO coRtract their
circulation one'half or more, and the
country was deprived o one half its cur.
rency; lherepresenlaive OF value was
decreased, prices fell in proportion and
the people were ruined. And now, 10
remedy the evils wrought by their hands
they oAer 70 US the hard money panacea
as the only aHe leh ia lheir budget Of
nostrums The mixed currency Of this
country amounts 10 about Two hundred
millions of dollars, Of which eighty seV
en- mllliOnsis oil gold and silver. For,
the purpose of illustrating the position
which shall assume, | will slate the
amount oI gold and silver at 100 ,000,,
OOO, which is more favorable 20 the hard
money party. Under the present cir.
cuIalon the real and personal property
Of the Stale OF Indiana is assessed Tor
purposes OF taxation al 100 600 900, and
upon each hundred dollars worth tax
OF IhIrtycehlsislevied If the -circuIa
ting medium were reduced one half, by
striking from it all bank pa per, the,pr
rperty Of that State, being represented
by one-haIl less than at present, would
SINK irevaIue 10 SO 600 600 dollars. But
how would affect the taxes? A given
sum must be collected, 10 raise which
requires tax Of thirty cents upon each
hundred dollars Of The one hCndred mil
lions. IL the ono hundred millions be
reduced 10 fifty millions, does it not fol-
low that tOxof sixty cents upon each
hundred dollars must be imposed 10 raise
The sum required? Hero, lhen, we have
aremedy proposed, which, if adopted
will double the taxes paid by every ciu
zen OF Indiana, and at The same time re-
duce one- hall his present means Of pay
ing them. But it will stop not with
tax payers; il will operate in ruinous Of
Iect upon all classes Of Society, except
tho,mooey lenders; and upon none more
vigorously than the poor day Iaborers.
A policy that reduces.in value one.half
each farm, and all the produce raised
upon II, in my State, vii not except from
lis operation mama labor, qhis must
also comedOwn, 10 preserve the proper
ton between ito VHuo and that OF pro-
Perty and the ripeuing gNFies oGDem
ocracy arc only 10 become visible when
The humble iahorer shall return at night
to Namlly.begging bread with only l9A
cents in his pocket--the reward Of
days hard toll! Such doctrine may
find advocates among'rich creditors, but
hardly,l should apprehend, among the
indebted class Of society and know but
lutte Of the farming population Of my
State II lhOy arc ready and willing to
aid in establishing Il policy that will
compel them, by us process OGreducng
prices, to sell four hundred Instead Gf
twU hundred bushels OF wheat to raise
the sum Of one hundred dollars to pay
a debt. The State of Indiana now csO
neither pay her debt nor lheinterest up
omit; and'ilis but poor compliment TO
her Intelligence to suppose that she will
be found acting with party that propo
poses 10 douhlehe Indebtedness by way
Of relief to her liability to pay!
| have examined hastily, sir, the 70
suits Of this Democratic faith, i( ever re-
duced 10 practice upon the people aud