The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1846-03-14
From the ST. ClaIsoiiie Gazette.
"BANKS OR NO BANKS"

| III Dullldul. DtsSNHS vi Tie Dduk-
ing system have ever been so over
whelmingly ruinous TO the best inter-
ests of the. producing classes, of every
country in which it has been tried, that
it is indeed marvellous how the people
of these States have been so long dup.
ed by the interested and selfish ''Paper
Aristocracy," who, in fact, rules. them
with as much despotic tyranny, as the
Great Autocrat of Russia rules his vas
sal serfs. The interests of this ':Paper
Aristocracy," [more' odious than the
Aristocracy OF England, lis always ful-,
ly represented insourHalls Of Legisla-,
lion, whilst the interests Of 'T. Labor are
left TO take care. of themselves. :sMen
of wealth. always take good care that
"they haveafriend in heterogeneous
Mr.. Cowen knew,this, hence his court
ship of their favor. He knew that
,UedltA goUerns, and thatthe masses will
even kiss the iron rod of their AriSto-
cratic oppreSsorS., But why is this the
case! The reason is obvious. 1t is
because the masses will not think for
themselves will mot attend to their
own interests, but permit the wealhy
portion Of the community 10 harness
them to the car of party, and drive.
them headlong to MISUNDERSTANDING
ling under their feet, in their mad ca.
reer, the sacred rights Of Labor. That
"Labor" which Mr.. Taylor says: sin
civilized countries, IS The object which
tyranny invariably attacks-'tis of
course the citadel which liberty defends.
The degree of safety is the thermome-
ter of good Government" The first
assertion Of Mr.. Taylor-is true to the
letter, but if "Liberty'' in this country
''defends the citadel of Labor" it is but
sorry defence, for the "tyranny" of a
"Paper Aristocracy" has put to flight
the defenders of Labor who are scat
tered like sheep without a shepherd
Will they rally under Tod and renew
the defence of the citadel Of Labor?
And If, as Mr.. Taylor says "the de-
gree Of safety which labor enjoys is
the thermometer ofgood Government"
then our Government is as far below
zero as it can possibly sink for the in
terests of"laborn have no safety at all;
they are absorbed by the tyranny of
"Paper Aristocracy." Mr.. Taylor con-
tinues: "As paper credit is not resolva-
BILE up to labor, it is insensible of the
least degree offellow feeling for labor.
What treatment then must the latter
expect under the Government of the
former" | answer, just what labor al
ways has received-just what it always
will receive-contumely and reproach
for being poor, after submitting to be
robbed Of the fruits of its industry by
"Paper Aristocracy," when it had the
numerical power, at the "BaIlot Box"
to light its own Wrongs-to redress its
own grievances. Mr.. Taylor pro-
ceeds: "'rhe majority of a nation is the
natural enemy Of a paper junto, be-
cause the legislative influence ofthe lat
ter acts upon, and is an usurpation of
the rights Of the former" This is in
deed true, for all our Legislatures are
under the control of our banks, and 9TH
er interpretations of associated wealth,
whose supple tools, in our Halls of leg
.islaton, usurp the power to trample in
the dust the sacred rights of the major
ity, and yet, by party machinery, with
applause for this base treachery to the
masses, who have the numerical forces,
if united, to hurl them from the Halls,
which they have polluted by sacrificing
on the altar Of Mdmm2n the sacred
rights Of Labor, and to fill their places
with men from their own ranks. Again
Mr.. Taylor says: "Funding and bank
ing systems are indissolubly connected
with every commercial and political
question, by an interest generally at,en-
nifty with the common good. One OBJ
servation is adduced in proof of this
doctrine. Paper fraud knowing the
residences Of liberty would to God il
was ten fold more restive when oppres-
sed is under an impulse to strengthen
itself by alliances with Legislative corr
ruptions, with a military force, and with
similar foreign systenls.' A paperjun-
to will increase taxes and incur public
debts, because new debts. will chiefly
deposite themselves IN the hands Of Old
creditors, and both will enlist recruits,
"a paper junto modiiies paper and cred
it, and erects paper contrlvances to ic-s
,quire wealth for ftself out of the public
labor. labor is in fact the great fund
for human subsistence, a surplus Of this
subsistenceis wealth -andhowever the
good Qfssociety alay require, that the
industry of individuals producing par
,tiai inequalities, should be both uncon-
trolledsand encouraged. yet paper con-
teiraHees By laic, which are not efforts
loflndustry,l having such tendency,
IL. 1