Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1844-02-29

sion oil this Convention.
The devoted South, whose ruin, according
to the sinister augures of those who assumed
to be her more peculiar guardians, was TO be
consummated by this worst of all Tariffs
begins again, we rejoice to see, to walk cree
IN her strengih-to recover, under its kindly
and fostering influences from its recent oros.
tratioii, and 10 start again on her accustomed
and unriYa!led career of successful industry
and enterprise. The whole Country feels lis
viviiying influence. Ii has unlocked and Civ
en- activity 10 millions of capital that had lone
lam dormant. or IN state of decay. among
us-by sn;ioing The industry of our citizens
tn con'ftit, on icrias Of some equality. with
the labor OF Europe, il has given employment,
and content TO thousands ON thousands of our
citizens whom previous unfortunate policy
had thrown out OF their accustomed and more
profitable avocations, on less productive en-
ployments, or vet worse on courses of idle
ness and vice; and by substituting an active
demand, cO-eXtensive with the new wants and
new means thus brought into existence, where
before there was none, for the products of n
thousand associated occupations for the
Cotton and Sugar of the South, the Flour and
Beet OF the West, the manufacturing skill of
The Norlh,an may be Justly said to have given
new impulse 10 every branch of American in
dustry, Agricultural, Commercial and Me-
chanical.
Thus complete has been the fullilment of
the promises of its friends-,hus signal the
Justification of the ill-omened predictions o.!
its enemies
We might, we know, give greatly more
strength to some of these views by laying be-
lore you the numerous facts which exist A.
round us, tending TO support thcm--but we
are too well aware how easy it is to mislead,
IN reference to a subject so vast and various as
inns, by the disingcnuous and deceptive cita-
lion OF Isolated instances, to cite less than all :
and to cite all, or even a considerable num-
Der, would plainly be out of place here. and
too much extend and cucumber this Address.
IL Is a measure that cannot be judged by spe-
cIal instances. In work of such extent. va
riety and complication, ii were q miracle if
instances, to support almost any position.
might not De quoled-if cases of error. too.
did not exist. But, with this qualification. we
accept The issue rendered, and go before the
country on the tariff of 1912, i'm principle
and in detail' And we appea, before an en-
l'ghtened people, against the barren sophis-
tries and defeated predictions by which il has
been assailed, TO the abundant revenues il has
~ wv 'o"SA piiCCS Vi OF
lmporI,-to the restoration of the credit OF
our Govcrnment-to the greater activity and
better rewards of all branches of domestic in
dusirv, and the revival, more and more dis
tinctly maniiestmg itself, Of the general pros
rerity, which has followed in its train-to de-
monslrate its wisdom, and vindicate its title IA
'he grateful and Jealous support of the coun-
try.
The c0DIiJjo,, of 10
last addressed you, has undergone no change
calculated TO allav anxiety in regard to il. or
to lead us TO relax, in any degree, our efforts
to place it on the basis of the national autho-
rliy. The currency that we want, is a cur-
rency that shall at once be safe. souud. fujr1y
distributed, and Of uni form ralue at crery
point. Such one is alike Indispensable to
the successful carrying on of the business of
the country, TO the safe and efficient admins
'ration by the government of its fiscal con-
Germs, and to the performance by it of its
constitutional duty Of laying uniform taxes
on the people. Our present currency, an
swers, at most, but one of these conditions.
1t is generally, if not universally, convertible
INTO specie, and hence NAV be considered
sound but il is distributed most uneouallv.
and is utterly unsafe for the future. 1t is but
few years since ii rapidly expanded beyond
all limit of prudence: then as suddenly COL
lapsed. In both expansion and contraction.
1t forfeited lis distinctive character and value
as paper currency, now inconvertble. now
scarce, if at all exceeding dollar for dollar
with the specie in the country-bankruptinq
IN the torluring process both Government and
People. AS panic has subsidized, aud conf
dence began TO return, Bank paper has again
lett It's hiding places, but in varying propor-
tons at almost every different point, according
as caprice, accident or supposed interest might
seem TO dictate. For there exists no common
head to mpart uniformity to its diffusion, no
common or acknowledged principle by which
to regulate It's amount, nor indeed the reoui-
site kno"ledge possessed by, or even IN reach
OF, most, ii any, Of the local Banks, to guide
them, on these essential points, to correct
decision. Hence we see the currency. at th;s
time, tending in some places 10 rcdundan-
cy' IN others, still deplorably insufficient, and
scarce any where, perhaps, holding It's true
proportion to the means or wants Of the com.
munlty. Ii is apparent that such state o.
things Is emiuenlly insecure, and is totally in
consistent with that fair and lust distribution
oil The currency which can alone ensure 10 j,
uniformity Of value at every point, and which
under every artificial system, the people have
a right TO require shall be provided for, in or
DER That all may stand on an equal footing
An institution in which are incorporated the
elements of national credit, and national all.
tbority, can alone answer all the conditions o.
good currency. Conducting, as it would
mot regulating) the foreign exchanges--rc
ceivIng or paying over such portion of the
precious metals as might be necessary to e.
qua'Ize the continually hucluating balances O
our foreign trade, it would, at all times. knox
the amount of snccie -, ,l,o ce,,,,,.. - i ~ 49,