The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1847-10-02
Democratic Measures Their Ef-
fects on the Prosperity Of the
Country.

Country.
The present prosperity Of our com.
trv is the resuI, Of the measures Of the
democracy. They have destroyed the
bank Of the United States--that i'm.
mense monspoly, whose enormous and
overshadowing power enabled il to d.
rect the course ofIegislation, to control
the business Of The country, and TO- claim
10 be cognate branch Of the govern
me Mt in the collection and disbursement
of its revenues. By its destruction
they have wiped out the stain which
has been impressed upon a violaied con.
s,itu,ion, freed our legislative halls from
The controlling influence of foreign
stockholders, the public revenues from
the custody Of foreigners, and the buis.
ness of the country from the evils Of n
constantly huctuaiing currency. ln
the place OF The bank Of the United
States there has been created treas.
urv system, by which the government
collects and disburses its revenues
the constitutional currency--by off
GERS of its own appointment. Soldiers
and citizens receive from the govern.
ment money which is not subjec, to
huciualion, and which possessing IN
trinsic value, is never below par. For
eigners and wealthy bankers can no
longer receive dividends and issue prom.
Uses to pay upon funds belonging 10 the
general government, nor unsettIe bus
ness by constant expansions and con.
fractions.
The adoption of a sound metallic cur
rency. by the general government, has
had ii beneficent influence upon all the
commercial interests of the country.
|, has checked the wild, unscrupulnus
gambling and speculation. SO tar as the
government Of the United States, un
aided b. the States. had the power SO
to do, which the ascendency of paper
money had caused AMI encouraged, and
ms oIred business wih the firmness and
solidily of the medium through which its
exchanges are affected. by creating
demand for specie, it is draining the
vaults of Europe; by checking the ten.
dencv ofihe banks TO absorb the gold
and silver of the country, il has increa-
sed the amount in circulation among
the people.
This chan,e in the financial system
Of the government has been accompan-
id bv modification OF the tariff hn'h
ha been equal. beneficent in its effects.
IN place OF the high and unequal tariff
of 1912. we have one which, as it ap.
proaches nearer 10 the principle of e.
quality, at the same time that it has in.
creased the revenues Of the government
extends its protection alike to all The
branches OF human industry. Agricul.
ture and commerce no longer pay trib-
ute 10 manufactures: manufactures
themselves have felt the wholesome et-
feet of the change, ard have incresed
with a rapidty hitherto unknown
Tie fair price which the single article
Of wool has commanded, and the ready
sale which il has found in the markets
ut our State, are sufficient proof OF our
assertion. Wool is an article used al
most exclusive y for manufacturing pur
poses; demand for it is therefore con
elusive evidence OF the prosperity OF
manufactures.
But this is not the only salutary re.
suit OF the adoption of just principles
of economy in our intercourse with
inreign nations. The approximation
made to ice trade by the tariff OF 1916
has been met by eciprocal linerali,y
on the part of Great B'i,ain. The idea
at tariff for production alone origlna
ted in England in the darkest days of
her despo'Ism. With the enfranchlse.
men, of her people, restrictions upon
trade have been gradually removed.
Eacn concession to liberal principles
has been followed by seasons of great.
er prosperity. British statesmen found
that protection. instead of being a
blessing, was n curse-that instead OF
diminishing 1t increased the poverty OF
The poor. They were unable 10 resist
the remonstrances OF the starving mil
lions. who thronged the doors OF Par.
lament, praying for bread. The pride
of The British arisIocracy was com.
PEELED to yield the privilege of taxing
the poor upon the necessaries OF lite.
In l842a most decided effort was made
towards the reno val of the tax upon
importation. In lS46, however, the
British Premier, Sir Robert Peel, after
having procured the repeal Of the corn
law. gave in his adberance to the prln.
cIplrs of free trade in the following |
beaItIl,l language: 81 shall leave a
name execrated by every monopolis,
who. from less honorable natives.