Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1846-05-05
Tho idea ut

nifty If by blow the paper circulation
could be stricken of existence would inct in
jury beyond the powers calculation to estimate Prop
ery would be deprecated to less than third OF its
ent value The wages of labor would be reduced a
still greater proportion, and of suffering priva-
and misery would ensue. which would beggar des-
crip,on If the result should be attained by 4
slow and gradual process, although the shock would be
less the evil would be equally great. To adopt
such system would be to retrogade, instead of adj
vancing in the march Of civilization; would be relaps
ing the barbarism OF the middle ages. The
most profitable part Of capital, and to which we
indebted than anything else for prosperity
is credit and enterprise. II is the capital of credit and
enterprise which enables the poor compete with the
rich; is this which the immense disadvanta
ges under which the mechanic trader without money,
abor and enables him TO along IN the path OF sue
cessful competition with til e of wealth Render
this capital unavaiing and you strike from him
Of wealth Deprive HIM OF It's benefits, and you
render him slave the Of wealth 1t is, in fact.
placing the business and of the country entire
" disposal of The few wealthy, who control
its capital.
And yet, Mr.. Chairman, this is advocated the
of democracy 1t is urged upon the country demo
cratic Demo cracy has been made mantle to
cover many cnormities but surely used to
cover one greater than this
greatest evils resulting from the action of
the dominant party has been produced By their connu-
hostility the business and industry OF the ntry.
For fifteen years the c rprise and industry
of the country has been tramneed and crippled by the
hostility the Government Under the pretext Of oppo
arisocracy monoooes and prcileged classes
phantoms existing only in the disempcrcd imagn atoms
of political charatans continued warfare has been
kept up against the industrial pursuits the people
few the dividends declared by the banks
paraded before the country for the purpose of showing
that they making too much money. All pure dem
invoked to lend their aid to destroy them in
order prevent them from making such large profits
The sensitive of the democracy afterwards
excited by the profitable operations of the mercantile
community. The hue and cry forthwith raised "a
ganst the merchants. and every effort made to excite
public odium against them More latte RI y the
denocratic party their keen search for rnonopo-
lies and proeged classes have directed their attention
the manufacturers, and have made the alarming dis
covery that they making money. What business
have the manufacturers to make money, Why don't
they their mills and expend their capital without
any profit But they are making money and that
be stopped. These divide which they declaring
must True, they are buying the agricultural pro-
ducts of the farmers, and paying them very handsome
prices for them, while they selling their goods
low that the people make complaint, and seemed
be remarkably well satisfied with the condition of things
But the manufacturers making money, therefore
they must be denounced pionopoists prrile ged
classes and their business be destroyed To effect
this very important democratic object proposed
peal the tariff, and allow Br itlsh manufacturers to fill
markets with their goods, which they will to
people prices high tho which charged
by manufacturers By this opc ra the prof
its made by American will be trans
ferred to British manufacturers. cannot how the
people to be benefited. but still suppose will be
democratic.
1t is this continued hostility of the Government to the
different industrial pursuits of the people, which keeps
the country in continual fermen and produces such
frequent revulsons The people, is
pretended this clamor about monopoes raised,
greatest sufferers By course of legislation which
pretended to be for their benefit very
prosperity off: Can any man be so dull as to
suppose that the merchants and manufacturers can be
crushed and their business destroyed without injury
sulting to the farmers and mechanics The idea pre-
posterous Every blow which struck by the Govern
ment, at the leading business interests of the community
felt throug all the amcations society Their
ruin must necessarily involve the every other
class of the people. Their interest de they
prosper suffer together. In the great revulsion
through which have recently passed. and which
have attempted to show brought about by mprop
interference of the Government with the business
concerns of the people, class of the people suffered
severely, incurred greater sacrifices than the
farmers Thousands were reduced from afiuence to
poverty and their farms sacrificed the sher-
ifs hammer.
1t appears to me, Mr.. Chairman from, the indications
that we have ample o fe early re-
currence of this distressing condition things. The
Subtreasury bill will do much towards
But when add this that other meas
which will soon be brought before of
the Tariff the result inevitable The
~ will create extraordinary demand for specie, and
greatly diminish bank circulation. 1t will destroy
confidence and parayze the enterprise of the country
The of free trade proposed to be
by reduction of the Tariff will induce excessive i'm
portaton of foreign goods balance of trade against
us will necessarily follow. This must occasion the ex-
portaton of specie. and when reach that point
shall have reached a crisis be followed BY train
of consequences disastrous and ruInous to the whole
country.