Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1848-12-07

the close OF that war series of measure
was adopted which. united and combined
constituted wha, was termed by their au
thorS and advocates the American Svs
tenn
The introduction ofihe new pslicy wa
Tor Time favored by the condition of tn
country; by the heavy debt which ha
been contracted during the war by the de
preston of the public credit; by the de
ranged state Of the finances and the cur
rency: and by the commercial and pecu
mary embarrassments which extensivol
prevailed. These were noithc only eau
ses which led to its establishment. Tn,
events of the war with Great Britain, an,
the embarrassments which had attended
Its prosecution, had left on the minds o
many of our Statesmen the impression
that our government was not strong G
nough, and that to WELD its resources sue.
cesstully in great emergencies, and espe
cially in War, more power should be con
Generated into its hands. This Increased
power, they did not seek to obtain by iht
legitimate and prescribed mode--an a
mendment of the Consti,ution--but by
construction.-Theys saw governments il
the old world based upon different orders
of society and SO constituted as to throw
the whole power of nations into the hand:
of a few, who taxed and controlled the
many without responsibility or restraint
In that arrangement they conceived the
strength of nations in war consisted
There was also something fascinating in
this luxury and display of the higher or
ders, who drew their wealth from the toll
of the laboring millions. The authors oil
the system drew their ideas of Political
Economy from what they had witnessed
i'll Europe, and particularly in Great Bril-
tain. They had viewed the enormous
wealth concentrated in few hands, and
seen the splendor of the overgrown estab-
lishmenls OF an aristocracy which was up
held by the restrictive policy. They for
gotto look down upon the poorer classes
of the English population, upon whose
daily and yearly labor the great establish
ments they so much admired were sus-
tained aud supported. They failed to
perceive that the scantily fed and half clad
operatives were not only in abect power
ty, but were bound i'll chains OF oppressive
servtude for the bcnefit of favored classes,
who are the exclusive objects oil the care
Of the government
Ii was not possible to reconstruct socie.
ty in the United States upon the Europe
Oh plan. Here there was a written Con-
Intuition, by which orders and titles were
not recognized or tolerated. A system of
measures was devised, calculated, if not
intended, to withdraw power gradually
and silently from the States, and the mass
of the people, and by construction to APP.
proximate our Government to the Euro
pean models, substituting anaristocracy of
wealth for that of orders and titles.
Without rejecting upon the dissimilar-
ity of our institutions, and the condition Of
our people and those of Europe, they con-
ceive the vain idea of building up in the
u. States, system similar to that which
they admired abroad. Great Britain had
National Bank of large capital,in whose
hands was concentrated the monetary and
financial power Of the nation; an institu-
ton welding almost kingly power, and
exertiug vast influence upon all the oper-
atious oftrade, aud upon the policy OF the
government itself. Great Britain had an
enormous public debt, and it had become
part of her public policy to regard this
as a "public blessing. Great Britain
had also restrictive policy which placed
letters aud burdens on trade and -trammel-
led the productive industry OF the mass OF
the nation. BY her combined system OF
policy, the landlords and other property
holders were protected and enriched by
the enormous taxes which were levied up
on the labor of the country for their adj
vantage.
Initiating this foreign policy the first
step in establishing the new system i'll the
United States was the creation of a Ma
tonal bank. Not foreseeing the danger
Gus power and countless evils which such
an institution might entail on the country,
nor perceiving the connection which il
was designed to form between the Bank
and the other branches of the mscalled
sam srican System" but feeling that the
embarrassments OF the treasury and OF
the business of the country, consequent
upon the war, some of our statesmen, who
lad held different and sounder views,
were induced TO yield their scruples, and,
indeed, settled convictions of It's uuc on
stitutionah,y, and to give it their sanction
as an expedient which they vaiuly hoped
might produce relief. 1t was "a most un-
Fortunate error, as the subsequent ls'ory
and final caiastrophy of that dangerous
and corrupt institution have abundautiy
proved. The Bank, and its numerous
branches, ramfied into the States. soon
brought many of the active politicians and
in different sections of the country, into
the relation of debtors to it, and de pc ld-
ants upon pecuniary favors; thus ulflus'
inc throughout society a great number OF
individuals of power and influence to give
tone to public opinion, and to actin con-
cert in cases of emergency. The CORFU p
power of such political cngincis no lou
ger matter of speculation, having beer
displayed in numerous instances, but mos
slgnally in the political struggles of 1882
a, 4, in opposition to the public vii
represented by a fearless and patriotic
President.
Bu, the Bank was but one branch OF th'
new system. A public debt OF more thar
sl20. 900 900 existed; and it is not to be dis
guised that many et the authors OF the new
system did not regard its speedy payment es
srntial to the public prosperity, but looked
upon its continuance as no national evil
Whilst the debt existed, it furnished aimen
to the National Bank, and rendered increased
taxation necessary 10 the amount OF interest
exceeding 1880 900 annually. This.operatet
in harmony with the next branch OF the new
sys en-, which was high protective tariff
This was to afford 5ounties 10 favored classes
and particular pursuits. at the expense oil al
o,hars A nrnnn.iiiun To tax the whole pp q