The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1843-02-21


was prophetic or the existing low prices low wages
cheap farms, and cheap produce. The effects of the
Sub-Treasury VT all predicted in 1910 (wthont the
sanction oflaw however) exists at this moHent' Inc
legacy Of MIR Van buren,, and the inability of Con-
gress substitute anything for thnt egncy, have lett
us all the machinery of the Sub Treasury. Banks
are destroyed, or crippled, us we pred'cted;-lhere
is little credit, as we predcted.-Ihere Is little
or no confidence. There is little or no enterprise us
we also predicted. There is us much specie IN tho
vaults ofthe Banks they have bills IN circulation
Money never was plener with the rich Never
could Mey command so much with so little cash,
Gold aud silver were never 80 abundant in tho United
States. There never was so much of the precious
metals in circulation. All Europe is sending some
some orher gold and silver by every packet ship,
steam shp-lhe currency is as solid and rs hard
as any Bulionst cou a possibly desire But with all
this abundance of md ey, and this abundance Of the
precious metals neve, were times harder,
"stny laws' so readily resorled to, bank
ruptcy, State and individual SO wide spread; never
there many nor so just complaints from the
luborng and middle cassos of the scarcity, or diff
Guilty Of getting at this money:--he very state Of
things all Wings predicted in 1910!
'Gold is flowing up the Mississippi and does
''peep 1.-THE ntersces of the long silken purses.''
Speaking practically, but not politically, Gen. jack
has carried what he attempted in lS29-30. lie
destroyed National Bank, then the State Banks and
Bcnton's specie currency. But what is just as re-
mariabe, year by year. step by STEP every thing the
Wings predicted HAS COME TO PASS. The speech
of Clay, Webster, and Clayton, in lS32-33-34,
well rs the articles of the then Wing presses, nre
IA had Ioo ;rnl
with prothec power.
elbow long 10 endure this hard money cur.
rency, and these hard times, il is difficult now to
foresee. In Il country where there is no currency
commerce must be restricted, and prices and wages
must be low. The farmers are now the gent suf-
ferers the suerings Of the commercial classes beng
nearly over Another harvest Of low prices in all prob
ability, viii revouoniZe The politics of the aericul
tural CLASSES The revolution, however, will not for
long time reach all the departments OF Government.
The commercial aud trading classes are now hav-
ing their benefi, from low prices and low wages, and
they will ~, pr"cipitnre the revouton,'
rs-raznz-=rS<a-rsrr-
CANAL ACROSS TIE iSTliAlUS OF PANAMA.
The most authentic information we have seen on
this subject is contained in the annexed view of IA
paper by the celebrated humboldt read at the sitting
of The French Academy Of Sciences on tho goth of
December =
1t will be MOTH, n with much pleasure that a re-
connoissance by competent authority has ben COM
rctcd, and that most favorable anripations may safe
ly be INDUCED as to the feasibility Of the scheme
even 20 the unexpected extent Of transporting by this
canal, ships Of 1000 to 400 tons burlhcn! II is a
matter that concerns the human race, and the project
itexecuted, will be thu most remarkable physical i'm
provcment, perhaps, that has yet been made by the
hand Of man, on the face of the globe
ACADEMY OF SCIENCES OF PARIS Decem-
Der 26.-The sitting of This day ofmuch interest,"
well for the varied nature Of the papers which
read for the discussion which took place up
different subjects.
An interesting paper from NJ. de Humboldt was
then read lie Informs the Academy that the pre-
paraory labors for cutting canal the shmus
Of Panama are advancing rapidly. The commission |
appointed by the Government Of New Granada for !
the construction of canal to unite the two oceans |
has terminated is examination of local. les, and has |
arrived result for tunac twas unexpected.
The chain Of the Cordi!leras does extend us was
supposed, across the ishmus but on the contrary
valley very favorable to the opinion has been discov-
cred. The natural position Of the waters is also ia
vorable Three rivers which an easy control |
may be established, and which may be made
partially navigable, would be connected with the
canal. The excavations necessary would not ex-
tend to than q miles in length. The fall may
be regulated by four double locks, 1873 feet in length;
and the total length Of the canal will be 40 miles,
within width Of ! 50 feet surface, and 55 at the
base; the depth will be 20 feet. The canal thus
executed will be navgabe by vessels Of from 1000
to 400 tons. According TO the estimate of W. Mure
French engineer, the total cost Of this canal would
be only IA millions of francs, including the purchase
Of two steaneEs.
State of the Treasury. From 4 Letter from the
Secretary of the Treasury yesterday presented to the
House Of Representatives by the Chairman of the
Committee ofWays and Means, it appears that with
nm authoritv IN iSsue now 'Treasury notes to any