The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1847-09-18

the public attention by incsssant repe-
tition. And avarice, which naturally
bankers after shorter road to wealth,
than nature has permitted, continues to
listen to the glozing tale with the in
stinct Of avidity, long after reason has
refused il an audience.
We have no magazine Of magnifcen,
promises. We tell the people. with all
the earnestaess Of conviction, that gov.
ernment can indeed contribute much,
very much TO the creation Of wealth
but in one way and in one way only.
And that is by confning itself TO its le-
gitmate function, THE PRESERVATION OF
SOCIAL ORDER. When justice is made
to flourish throughout the length and
breadth Of the land then industry, sure
OF its reward will stimulate production
to its utmost. In this way and in this
way alone can government successful
Iy stimulate production. We have no
fears that this doctrine will prove false
or unfounded. 1t will bear the test Of
human scrutiny, of talents and Of time.
When truth and reason shall have got
ten the better of party rage, when the
ignis fatuus doctrines of restriction and
which lead to bewilder and
dazzle to blind, shall have spent their
force and lost their sway, when men
shall have acquired a clearer under
standing OF their true interest they will
strictly confne their government 10
this its one legitimate function. Then
indeed we shall have light and simple
whose influence will de-
scend like the dews of Heaven, in bless
ings and benefits upon all. in heavy
burlhens and rigorous exactions upon
none. Suppose the government OF
Ohio had been confined to this function
Tor the last twenty FIVE years. what
untold millions might have been left in
the possession of the taxpayers, the
only admissible species Of distributions;
leaving the wealth in the possession Of
those who create it. HsE --tE.
We look with no nnfriendly eye upon
the manufactures Of the country. We
rejoice in their prosperity, when that
is attained without injustice
to the rest OF the community. We
contend that. the prevalence of demo-
cratic principles, being principles Of
universal justice, would be eminently
favorable to them, us well as to all 9th.
er interests. They often have reason
to exclaim "save US from our professed
friends" The favors which a whig
tariff would bestow upon them with one
hand, the wbig banking system takes
away with another. Suppose tariff
Of forty or fifty per cent enacted, the
banks can soon expand the currency
10 that amount. Lay a higher tariff, the
banks can soon create corresponding
expansion Of the currency and so on
indefinitely. This process compels our
to pay higher money
price for their raw materials, their pro.
visions, their rents, and in one word,
for all the objects Of their consumption
Amongst the manufacturers themselves
this circumstance gives no one the ad-
vantage over another, but they all have
to endure the competition Of foreigners.
These last make all their purchases ac-
cording to standard of value much
ess artificial-much nearer the actual
noney-price Of things, than ours
They come here and sell their goods
according to our.inhated paper money
prices, but still something lower than
our own manufacturers can afford to
10. They then take their notes to the
banks and draw the specie; SO that
while they sell for paper money prices
hey in leality get their pay in hard
This gives them an advan.
age perfectly ruinous to our manufac.
urers; and according it will be found
hat times, of greatest bank expansion
nave been the most disastrous periods
in their history.
The whig banking system is unfa'
vorable to manufactures in another
point ofview. Banks are mere com.
ncrcial machines. Their notes pro.