Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1848-11-03

MT. w custer proceeded 10 examine 'nc ope-
ration of the Snb-rrcasury system. When
money was plenty, it was only clumsy, useless
and ridiculous system. When from the expor-
tation Of specie or any other cause, money be-
came scarce, instead of being merely ludicrous
thing, it became screw and torture. calculat-
ed TO make the rich poor, and the poor, poorer
J Mr.. Webster went on to show that this was the
effect of the law, by recent statistics.
The Secretary of the Treasury had found it
necessary to give some relief for the curtail-
mcnt upon the currency which the Sub-trca-
surv had caused. lie had let ont by a sort of
habeas corpus 100000 Of specie from that
treasury, and had confined the same amount Of
treasury notes TO balance it. Mr. Webster
would not say whether this was constitutional
or not, but he presented the case rs one where
the whole mercantile community ight be turn.
ed and overturned by one man. Men had to
90 armed and doubly armed. because they did
not know how soon an enemy might spring up
to destroy. The result was a degree of iluclua-
ton in the business of the country quite unex-
amplcd in its recent history
/ Mr. Webster proceeded to show how he diff
iered from Mr. Buchanan, quoting from the re-
ported Speech of that gentleman, and replying
to it sentence by sentence, and showing from it
that the democratic party still rely upon the
Sub Treasury as its financial system and doc
trne If, said Mr. w. the commercial. agricul-
tural. manufacturing and laboring population
can see that under this system, fluctuations
have been prevented and their manufactures
produce and importatons have been more in de-
mand and more profitable than heretofore,
yield to the argument. But be conten'ed that
the fluctuations had been within the last two
years greater than before, and that they had
h"cn cats| by the sub 1retSury II, thought
Mr. buchanan ready 10 swallow camels how
ever larIe.
! Tarthcr,-Thrcc-four Of our foreign i'm
rortalun- are on foreign account and therefore
it is in the power Of the foreign impor,cr to de-
press our money market whenever lac chooses,
by locking up in the Sub-Trcasury the money
to be received for duties.
Mr. Webster then took up the tariff Of 1916,
as a measure wholly new in pnlilical economy !:
a tariff for revenue, without specification. with
ont a look to protection to home industry. In
G. lngrcss it was not defended eXcep; by the out
cry that the tariff would defend itsrlr;" and
with perhaps an accidental exception, it was
carried BY party vote The Senate was divi.
d 3D. and in that body it was carried by the
casting vote Of the Vice President, citizen Of
PENNSYLVANIA
Whom had the tariff helncd Was it the
South! There were men in the North who
saw the san in the South. and thought they
face of all Southern homes and predictions. in
face Of the prophecy that By tbs tarifl'the South
would be enabled to sell its cotton at eleven
cent, Il puuui-the tariff had only brouutt
ajou, such results that cotton was selling a, ) !
cents pound. 81 much for South Ctiuliua
ari irnn-y ,yauil [Icrc the Speaker Was inter-
ru,..,A by an lronical laugh) had found that the
banners which bore the words " Polk, Dallas,
and tn tt1ii' of 1872 were false prctenccs,
and al determined to have the case tried over
!, again a. decided upon false evidence.
IL tdero is an election Of Wing President
these laws would probably BE- repealed II
there Is AN election OF Democratic President
they vii! probably remain. rs we like or dis
like the measures, 80 sc must judge OF the men
who are 10 represent them.
To allude to the other candidate. If Mr.
Van buren, Is elected, he cannot rcpudlate his
own SuO-lreasufy, and unless lie rcpud'ate,
himself, he cannot give up the t'r'il OF sic =
The resolutions OF the Buffalo Convention, and
,, the letter OF NJ Van Buren, on the subject in
i3, show his opinions on the subject OF pro-
lection.
Bat the question was not with the Presi.
lcncy. The resolutions of the Baltimore Con.
vcntion showed that the faith of the democratic
party was pinned upon the Sub Treasury. MI
W tbstcr read one of those resolutions to show
his. They &c, lcnded upon this to prevent iluc-
tuations in commerce, with the assistance o
The tariff OF 1916. The experience of the coun.
try woUlI show how true this was, and every
man should see how these measures had been
forced upon us. Wings had passed the tariff Of
~ ana wings from south and North had OPP
, Po7eu 'la' Oh 49, ana, even tnose hig' VINO
now ltii away nom Tue cause saiu that 'hcl
l'u moi nea" u oPPosc Tue results asa'hS
, wnlch ,le,r votes were u'rect'y 'hrowh.
MI W epe'c' w."t ". !" SpcIh o' 'he P'ac''ca
c"ee' Vi we eN'S'"s ''', a. - o'n WON
4 ''' an 'h''H'oo' :" '''c ."'H0'oSeA N 1T Law
4 "e", nav oeoo'',1 ~ '" 'ec o''
"'uu' US ""SI "'' oIon 'p"o'eu ~ per ecu,
an' '"c P''oe " w. "aN uc0'oa'eu one 'h'u
"A Ee"'c'h'N "ru '''''',"eu nun tn'' ~ "oi'e'
'','' ~ w" ,J ~. ~; 10 wv" one" ""'
Zee" op'i -, ~ ,', ''a - ''' mean ~,
l., 1"' .'' ,,, , ,,.'1 r
n We un', VI ~ p L',,'' ii w.. 800 W "o'"
H. ~ W. ,, C,o,,,,,f I c,,';,I,a,
II ,n,'hror n r IVA ,nanuf,o,nr.ril .,,;cla
= not taxed AS n;uh As the raw material. The l.,
: Dor is allowed TO come cheap. but the materia
II upon which American labor miuht be exercise,
Sc hears heavy tax. Labor WAS the true Ameri
Is can tariff. honest. INTELLIGENT lab,r.-cduca
c ting children encourauing yorship. This wa
v the true pr,,ec,ion ami lbi, l,d his entire sym
le nuthv and .nnnort
r, Mr. Webster drew another illustra,io, fra,
is tho t.bor;os bo,,;n,, ,h,, ,Lo ,;,,b, ar ro-o,
i n,r,,,;,, nf All v,, ~, c,n,,,o,,i,,i ~ ~,
- - W. N'''' '''''''' W. ~