The daily union. [volume] (Washington [D.C.]) 1845-1857, 1845-07-14
EDITORS CORRESPONDENTS.
From our regular correspondent

THiLADLLfhiAs june IL, 1870.
One of the most imporaht questions that will re-
qure the attention of the new Congress, is the adj
justment of the tariff Of ls42 on principles salts
factory TO all sections of the country. One great
principle TO be settled by men of all parties;
and that is that no more revenue should be raised
by taxation, than an economical administration OF
the government requires.
Our political tariffites, who expect TO raise whrl-
wind, that they may ride into power upon the
storm, embarrass the action of the government
greatly. calm, cool, and deliberate consideration
of this important measure with reference to the true
interests of the country, will bring all the conflict
ing sections of the Union nearer together, and /
hope speedily settle the vexaiions question. The
welfare of the people requires that II should be per-
manently arranged, 80 that men making invest
ments in manufactures, may know how to calculate
Many persons in this State are of the opinion (of
which am one) that no tariff can be adjusted that
will secure to the business of the country steady
market, under fuctuatng currcncy--such as we
have had for the last thirty years. From the history
the past must draw our lessons for the future
In reviewing the expansions and conractions of the
unrestricted paper system Of the country for the
last quarter Of century, il will be seen that il has
had most commanding influence upon the prices
OF property, produce, and labor. il is only neces-
sary to refer to q few instances of recent date to
establish this position. In 1884, the bank loans
and discounts amounted to 1924, ll9, 499; the i'm
ports OF the country amounted for the same period
TO ,332; and the sales Of the public lands to
$4,657,6Oo In 1886, only two years after, the
loans and discounts of the banks were increased
to SOC ESQ., the imports $l09 $3.50 O35, and the
sales OF the public lands to $24,759, 600. This
increase in importations and the sales of the
public lands was caused by the increase of bank &C.
Communications, occasioned by the surplus revenue being
deposited in the State banks, and by them loaned out
Here was an increased importation of foreign mer-
chandlse, in two years. Of $50 459 703-fooding the
country with vast excess Of goods, to the great
injury of all our own manufacturers and to the ruin
of many Of them. This increase in bank accommo-
dations caused spirit Of speculation all over the
land never parallsled in any former period. Land,
produce, labor, and indeed everything, assumed a
false value. This lasted only short time; after
which, the contraction ensued which, in its effects,
was most ruinOus. None suffered more severely
than the manufacturers; yet they never attributed
their embarrassnients to the right cause IT. then,
my position is sound, that the sudden expansions
and contracons Of the currency unsettled business
as well changed the prices Of all manufactured ar
tices the first duty of government will be- to regu-
late the currency in such manner that these sud-
den changes will not take place. How this is TO be
done, is the great question
At the present time, the surplus revenue deposit-
ed IN the banks amounts to than seven millions
Of dollars, and forms great part Of their capital This
is now loaned out to the importers and mercantile
men generally. Should the government call for this
amount suddenly, it will cause another panic The
only efectual way to prevent these sudden changes
In our circulating medium which is so injurious to
our manufacturers as well as to other business men,
to separate the government money from the banks SO
that they may have no influence over the surplus
revenue. The banks will then be able to furnish
the merchant and business man with regular accom-
modations and panics will cease During the twen-
ty-four years. existence of the Bank Of the United
States, we had expansions contractions and panics
all caused by the sudden increase and decrease in
bank paper. The duty of government is plain; and
that is, gradually to withdraw the government funds
from these institutions il compatible with the laws
Of Congress, and thus promote the interest Of our
manufacturers, and indeed all business classes by
substantial and permanent policy.
The Lancaster Fencibles, who have been eniov-
ing the hospitalities Of Washington and Baltimore
for few days past are expected in this city this
afternoon in the Baltimore cars, on their way home-
wards. When say to you that this corps is al
post without rival in the perfection of its disci-
pine, say what no doubt, hundreds of your citi-
gems will confirm. II IL composed Of a body OF
young men, who were trained under the eye OF
Captain (now Judge) Fndlay, an officer of very
superior merit; and they have reduced the art Of
arms to quite science.
The wings Of this city denounce Mr. Bella Badger
very bitterly, on account Of his dying speech when
the Morning Post" gave up the ghost. They say
that he has been well paid, and now repays their
kndnesses BY playing the prophet against them, and
predicting their overthrow in the city at the fall
election. The natives say they will carry the city
but this (much as should like to see a change in
the administration of the city government) is
result which hope will not take place. Yeti should
not be astonished if it did. The wings will not of
course, unite with the natives (much as they SYM
pathize with them in princpe) in Philadelphia, be.
cause they would lose by the operation and because
they believe they are strong enough to beat them.
The democrats, of course, cannot unite with either
wings or natives; and you may be assured they will
not. They will maintain their independent and dis
tinct position and organization and fall or rise in
the defence Of their principles. Whether Mr..
Badger and his friends, who have certainly been ac-
tive wings, will declare against the regular wing
ticket and 60 with the natives, remains 10 be
seen.
A board of commissioners, whose duty it is to
see to the erection Of State hospital for the insane
at Harrisburg, are now in session at that place,
and with every prospect of a successful termination
to their labors. This good work is one Of the re-
suits Of the phanthropic and benevolent endeavors
of Miss Dix, the well-known friend Of the insane
poor and the benefactor and comforter of the unfor
tunate in all classes, who made powerful appeal in
behalf Of such an institution during the late session
Hon. John A. Dix, one Of the New York United
States senators, and is a woman Of great ability and
nobleness of character.
New YoRx, July 10, ls45
To the Editor ofhe Union:
Among other questions likely to occupy much Of
the time Of the coming session of Congress- that of
tariff will he prominent. The fortunate annexation
Of Texas increases our territory, and greatly en-
arges the field Of operation for our industrious pop
ulaton. The Oregon question settled will open new
regions for agricultural and other pursuits but re-
dueton of the present enormous, unjust and unequal
tariff appears be nearly equal Importance for it
affects directly the comfort and happiness Of every
man, woman, and child in the Union, Although the
comfort, the happiness the ability Of the people
to pay has been very little regarded by the manu-
facturers trainers of the present onerous tariff
still would not follow their example, and introduce
harsh measures. would not grind them to POWDER
because the manufacturers have thrust the people
between the upper and neither milestone. But the
tariff must be reducedgreatly reduced and ifto the
revenue standard, the country would owe debt of
gratitude to the leading spirit who accomplished it,
Much s expected from the present Secretary Of the
Treasury. His wellknown views upon this great
question are believed to be in harmony with the mass
Of the people, and much is expected from him. This