Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1848-02-23

correct it in his next essay on the beauties
Of ..free trade
But Mr.. Walker boasts that his report
of l845, published in England by order
Of Parliament, "acceleratcd, if it did no,
produce the repeal Of the corn laws. -
This is another blunder. The corn laws
were only suspended till Mr.. Walker re-
pcaled the cdious anti-British tariff of 10.
~. That accomplished, and the famine
over. the corn laws go into operation again
on the first Of March, sliding scale and
all. But Mr. Walker says he has not only
converted Great Britain, but he has stag
gered all Europe. Hear him! Hear him!
France, Russia, Germany, Austria. It.
ally, Prussia, Switzerland, Holland. Bel
GUM, Denmark, Sweden, and even China
have moved, or are ribroting or prcpar-
ing TO move, in favor Of the same great
principle;' another blundcr, these nations.
or most Of them, SO far from relaxing. are
increasing or strengthening their protcc-
tive systems, wherever their mark cts are
likely to be invaded by foreign manufac-
lures coming in competition with their own.
But who told Mr.. Walker they were ..v-
bratlng or preparing to novel" They
may rjbrafe a little. to amuse Mr. Walker.
and induce him to take our duties off their
goods. and he has done it. And what
have they done! Nothing nothing at all.
They ire ''vabrating," but their tariff vb-
ratlons all 90 up, instead Of down. while
they laugh at Mr.. Walkers simplicity.
But, above all. beg you to protect and
cherish your national industry: TO protect
and sustain II against the efforts Of its
enemies. foreign and dame site. to break
il down. Labor lies at the very founda-
ton OF the national prosperity. Labor.
IN every dcPartment-in the fields, in the
workshops, in the factories--cherish it and
preserve it as the great element of your
national wealth & independence. When
labor prosPcrs, all other interests prosper
labor is depressed. all other in
terests must suffer and sympathize with it.
What is all other capital compared with
the capital Of labor! Estimate your la
Dor at one-tenth Of your population, say
two millions of laboring men; if they earn
but $3.50 per year. this is equal to the in
terest of a capital of $4,000 per annum
at per cent. which, multiplied bv two
millions, the number Of laborers, make
our iabor capital equal to sir thousand
millions Of dollars; and this is the great
element of power and wealth and pros
pcrity that Mr.. Walker would sacrifice
and degrade to the wretChed condition of
European labor. by his miserable policy
of Stree tradc''-compcllng the Amcri-
cans to work as cheap as they do in Eu-
rope, or give up their markets and their
money TO foreigners.
As, then, you value the virtue, liberty,
and independence Of your country. ! be-
seech you protect defend your labor from
the ruinous effects of foreign competition
call upon the laboring men-the voters Of
the iand-to come to the rescue, to pro-
tect themselves; the power is in their own
hands, let them exert it for their own Sc
curity and defence. know what it is to
labor come from the ranks of the Ia
boring mem feel for their interests. and
| sympathiZe in their sufferings; and when
! desert them, may Heaven desert me.
Mr.. Walker next speaks Of his great
horror of paper money. 1.-The calami-
ties which must follow an inflated paper
currency Nothing is more injurious. he
says, Ethan the expansions. contractions,
and fluctuations of the paper system -
This ''periious and seductive svstem.''
S"SS W oiNCis ltdOs W llC eACcSSlte
importation of foreign goods. (the very
thing he has been advoc ating.) and drains
our country Of its specie. producing inn
mense sacrifices. and ''depressing the in
dustry Of the whole country" and this
eloquent denunciation of paper money
and It's ruinous effects is made at the very
moment that he is issuing millions and ten
of millions of paper money. in the form
of Treasury notes. and is now calling on
us to authorize the issue ofsome eighteen
or twenty millions more Of this miserable
''paper money!" which. he SAYS. is so dis
astrous to every national interest How
does Mr.. Walker reconcile this glarinc
inconsistency! What are Treasury notes
but paper money! Worse than bank pa
per. because less valuable in the money
markets of the country. Mr. Walker
boasts that last year he received and paid
out forty-eight millions of dollars. all in
! specie. Now. sir, let him issue fifteen or
twenty millions of additional Treasury
notes. and next wear he will not receive
and pay out one million in specie: sir, it
will eXpel specie from the country; this
deprecated paper money. Treasury notes.
will fill up the channel of circulation at
home, and specie will 90 and is going
abroad to pay for foreign DDS. 1t will
enrich brokers and money shavers at the
expense of the people.
With nothing but deprecated Treasury
notes. continental money. how is Mr.. Wal
ker to get on with his specie-paying sub
treasury! He is bound by law TO pay in
specie, and has scarcely dollar of specie
in his vaults. He Will be obliged. by his
own mad measures. TO come here very
soon and beg Congress 10 relieve him from
the ruinous effects of his own f.vorite poll
CIV. by repeating the sub-.reasury and the
tariff of 1916. Treasury notes are now
one or two per cent. under par. and de-
clining. Mr.. Walker, will Of course. re-
ceive nothing else for revenue. Who will
now pay him one dollar in specie9 As
long as Treasury notes were above par
the Treasury of course received nothing
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