The Whig standard. [volume] (Washington, D.C.) 1843-1844, 1844-06-19
Communicated.
A SHINPLASTER OVERWHELMING
ON FALSE CAPITAL.

When the great Locofoco chieftan and father
of the shnplaster system declared, that "aN Uho
trade on borrowed capital ought 10 break" little
did he anticipate the forthcoming of that fruitful
progeny of his embraces with LocofocosIn, whose
fate he thus denounced before their existence (;
much less did he foresee the application Of his
dogma to his whole ephemera party neverthe-
less in the due course Of events, this sinister
and two edged edict was destined to be fully &C
complished to both these SUBJECTS literally and
metapho really. For, that swarm of ehinplaster
institutions which sprung up, as it were, in a
day, under the assaults Of this mock statesman
upon the honest, legitimate, and beneficial use Of
banking capital, has been swept from the face of
the EARTH by the peaceful and salntary action Of
public opinion, in the withdrawal of that conf
dence which is so essential to the sustenance of
everything that assumes the garb of currency ;
and that, too, in despite Of the sustaining hand
that had tyranncally destroyed the creature of
the law. On the same principle, the borrowed
capital with which this high priest of the Loco
foco sect set up the political trader of Kinder
hook, would have received no currency at all,
from the first, for want of public confidence in
such Fictitious, legitimate, and irresponsible
concerns, except that this said trader had some
little capital of his own to begin With--which,
however, being soon exhausted by the rash spec
ulations of the infatuated upstart, his complete
bankruptcy speedily followed. Who then, can
be SO blind now, who SO wanting of sagacity after
the experience Of the past, as not to foresee tho
fate that awaits the recently proclaimed shin
plaster concern, which is set up, avowedly, on
borrowed capital from the DEPRECATED currency
Of this same Locofoco chieftain, without any aux
iliary capital of his own to give an impetus to
popular confidence in the first announcement of
his purpose to trade upon such frail issue, and
to compete with the sterling currency OF a sub
stanta capitalist of long standing, deeply rooted
in the confidence and affections of all wise and
considerate men, and auimating every breast with
the anticipatons of returning prosperity to all
classes and vocations Of this wide-spreading en-
pire 1t is the very climax of mbecility, to
count upon the success of so preposterous de-
vice. which truly sinks far beneath the contempt
uous epithet of political humbug. But the ia
tuity of this new shinplaster device, of trading
wholly on borrowed capital, and that too, so de-
preciated as to be worse than worthless, loses Its
aspect of innocent weakness, which it bears in
regard to it's emulation with The majestic colossus
of Ashland, that holds the beacon light to guide
the mercantile canvass, freighted with the fruits
of American agriculture and mechanical industry
to all quarters of the word--and actually puts on
the oathsome adjunets of criminaty and stealth,
when it also attempts to filch and appropriate to
itself, the whole of another small capital which
certain noted captain has been so ndustrously
amassng for some time back, by daring and
fororn speculation in Texan lands Such dis
honesty could not prosper, even if the other count
of imbecty were less decisive Of the final doom
of the whole of this ephemeral, Quixotic, Loco
foco system of political jugglery and abomination.
How appropriately, too, is it destined to find It's
ignominious grave in the very land and vlcinage
Of it's deluded chieftain and high priest.
No JAcoBrN.