The Middlebury galaxy. [volume] (Middlebury, Vt.) 1848-1850, 1848-11-07

would enable the banks to make an issue of
million and half of money, besides what i
now in circulation. AS it is, it answers nj
useful purpose in society, but rather inspire
terror and distrust, and for all the uses Of so
ciety it would be just as well that ii did not ex
ist at all.
have said that supposed that money ha
not been known to be dearer for long time
l suppose that if we take the quantity loaned
by the banks at the rate of interest 20 whicl
they are limited; and if we then take the rate:
known to have been paid by private borrow
ers to private lenders last year, the rate of in
terest for the last twelve months can hardly
be considered under len per cent. Now, we
have to carry on the business of the country
i mean the men of business-with money
at this rate, while in England it is certain that
it is not quite half thai Therefore man OF
business in the United States, at this moment,
who has some capital and at the same time,
like most men, has occasion sometimes for
bank facilities and to borrow money, pays
twice as much as man of the same circum-
stances and facilities in England. Every man
can see the result of this.
leave the Sub-Treasury, now, and turn to
the tariff of 46. Certainly shall not argue
now against that tariff, l shall not argue d
gainst its apparent defects and its inconsistent
cy with established principles. On another
occasion and in another place, went through
all that, with very little success. 1t is The law
of the land; it has been in operation for two
years, and let me say that it is measure new
70 the history Of the commercial world in mod
ern timcs-it is tariff of duty altogether nd
valorem, with no specifications, with no just
discrimination in favor of domestic industry
and products. If any body can find a tariff
like that, let it be produced. When under
discussion in the Senate, We said all we could
against it, and we said some pretty provoking
things, but there was not i word uttered in its
support. Its friends maintained most judi
cious silence. One of them arose, and by an
almost unnatural force of speech cried out,
The tariff will vindicate ITSELF" and sat
down.
Now we appeal to you, to-day, if this tariff
has INDICATED itself? If it has answered its
its ends? it is of the character ascribed to
it? l say, now, that it is a party measure,
strictly and entirely. l do not know but in
the House of Representatives, here, and there
man Struggling from his party voted for it or
against it, but in the body of which.I have the
honor to be member it was strictly party
vote. know that MIR. Jarnigan voted for it.
but his constituents in Tennessee instructed
him so to vote his masters were Democrats ::
he obeyed his masters, and his was therefore
Democratic vote. Well, the Senate was c.
qually divided, and how was it disposed of?
BY the casting vote of the Vice President of
the United States, from the State of Pennsyl-
vania
A. L., Il Of
two years, who is helped by this tariff of 1916
what portions of the country? Pray, is
South Carolina helped by it? 1t is in fact
measure dictated bv South Carolina it is
in which Tie South took the initiatory
and led off, and the North, as has been too
much its wont, followed. There are mepof the
North, who see the sun in the South, and they
think they see all other light there. Now is
South Carolina any richer for this tariff? She
is great cotton-growing State. Now that the
tariff is passed, now that we have free trade.
said these friends of the new tariff we shall
see Carolina looming up like oneof the Southern
consultations; she will become rich she SEN
franchised and set at liberty; hereafter she
takes great lead, and her cotton will enrich
the people.
Pray what has been the result These
quent men, wien her cotton was from ten to G.
leyen cents a pound those words had hardly
cooled, when under this protection by Free
Trade, and under this admirable Tariff of
1916, which put down all other abominable
tariffs, her cotton is down to five and q half
and six.
And Pennsylvania Here Mr.. Webster
paused, and put on a significant look, which
l tTlt. eropflatnan n
happened to me TO be in Pennsylvania in the
fall of "A, before the election took place j
multitudes of people in Philadelphia
at Valley Forge and Pottsville, in the midst OF
the iron and coal and dust of that region, and
in other places and what did see there, all
along the road from Philadelphia, through
Pennsylvania to the mines Of Pottsville P
flags, holding out
"PoLK, DALLAS AND THE TARIFF OF 49,
and heard it again and again said that Mr..
Polk ,cds greater friend 10 The productive in
dustry of Pennsylvania than The Wig cdndi-
date! may venture to say that all expccta-
ton, founded upon this assurance, has failed
now, in a manner not little notifying i
it then, and | regard it now, as false
evidence, the use of false signals and false to-
kens. The representations made then, to the
people of Pennsylvania, if it had been case
of jurisprudence and municipal trial, think
nv friends here would have founded an indict-
ment on, for false tokens, for false pretences.
1t is right and fit there should be trial, now
that the false evidence is made known; and
think the people of Pennsylvania are ready
for a new trial 1t is proper to try the case o.
yer again, when the fraud is discovered.
Now, gentlemen, passing for moment from
this, have already said, that if it be the plea
sure of the country to elect Wing President
and VIII. Congress, this existing law will
either be essentially modified or altogether re-
oeaIed and it is Just as true, that if there be
no election of Wing President, it will be
continued. So after all, gentlemen, the judg-
nenl which we form upon men must rest on
,ur opinion, as to what will be their measures.
Public men are agents. One class of public
men will do certain things, and support or pass
me class of public measures, and another class
# public men will do other things and support
,r pass another class of public measures !; and,
IS we like or dislike the measures, so must we
Judge of the meE.
There is another object to which my atten-
ION hos heen l;.tle turned, not exactly pro-