Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1848-03-24

The let Alone Policy.
We have sought unremitting!y to impress upon
all within the influence of our teaching the impor
lance of this policy We do beliye that a great
share of the evils we suffer both social and poiti-
cal, arise from legislative quackery. The laws of
trade are we'll defined imperative and invariabe in
their operation. Unnterfered with, their operation
must be healthy, which means. must operate for
the best good Of ALL But legislation is always in.
terierlng with them-aIways seeking to improve
upon or to regulate them; and what is the result
Why, that there is no stability in business opera
tons, q no Justice in the distribution OF the world
wealth We say, and have said and shall continue
to say, and We challenge disproyal of the position
that the true interests OF the great mass of the peo
pie, is in entire nonnerlerence on the part of egis
lation, in all matters of business. Take the case OF
Banks, for instance. If there were no legislative
enacmcnts with regard to them, neither TO prohibit
nor to foster they would exist OF not according to
the eXigencies Of business. If business, in its ma
tural operation, demanded them they would come
and coming under such circumstances, they would
come precisely ,cdeye they were wanted, and pre-
cisely ,chen they were wanted-they would be pre-
cisely adapted to the exgeuces which created them
and would be healthy just as was the parent which
brought them into existence But what does legis
aton do Why we have two parties in the coun-
try. One affects to believe that all the evils we
have ever suffered have grown out Of banks and it
is their duty TO put them down at once and forever
The other is the opposition party, and of course
believe that banks the authors of all good and
it is their duty to build them upas fast as their OPP
ponents put them down Neither party perceiyes
where the difficulty lies, and consequently we are
always living under one or the other OF these cx-
tremes, Either we are prohibited entirely from ha
wing banks, whether business demands them or not
or else they are planted like milesoncs at regular
distances over the face Of the country with as little
reference to the wants of business.
But we feel gratifcd by the belief that the DAYS
Of q0ackery in these matters are drawing to a close
Public attention is aroNsing to more thorough in
veslsaton of the subject, and investigation must
and Will lead 70 the end we seek We give below
extracts from the n. Y. Evening Post and Journal
OF Commerce, two>of the leading papers in New
York city, on this subject We night proclaim
the truth through our humble sheet for years. and
people would perhaps, regard it but little; but
when the acknowledged leaders begin To speak out
as in the case of the extracts which follow, we
know the mass will begin to prick up their ears
and Listen;
From Tie Journal Of Commerce.
The curse ofthe currency and the people through
currency, is legislation. There have been no bank
ruptcics any where to be compared to the bank
nptc!es OF corporations and the more restriction
there is-thc more business is twisted out Of its
natural course by mere force oflaw-the more Will
bankruptcies be multiplied. The endless efforts to
compel honesty and sasacity by force OF law have
prodUccI results bad, that some OF orr states in
pet have determined that they Will have no banks
at AL 10 all tus the scotch banks are an answer.
They check and regulate each other All men
praise them Nh GaiIatin praises them and vet he
wants 10 mend them. They are the best banks in
the world, work best, do most good, are safest aud
all that Men say II IS 50, and vet eacn one thinks
they sAoud be altered Ii IS because they are free
That they work as they do. 1t is because our
banks are ot free. that they are for crsr breaking
50 badly, and breaking often. We had SAFETY
fund system, the ne pins ultra of wisdom. 1t was
a grand plan and worked well for years but at
length bad management and fraud contrivcd to Put
lis advantages into their pockets, and down went
the sae'y fund buried so deep in bankruptcy that
no legIsdtyclItiug can ever raise it up The Free
Banking law would be a good thing enough if it
were only let a'one-as good as any thing but entire
freedom simply because tits nearest to it.
We should think the legislature would
in very yeNation throw banking 10 the dogs and
tell the whole matter To take of itself for i,
should have no more state patronage We cannot
wonder that gentleman never so wise who thinks
there should be no paper money. should fall into
some mistakes IN attempting TO regulate that which
should not be regulated at all
F,cp, the Nc,r York Ercuiag Post.
Our Legislature is employed hall the time upon
matters at the same kind deyiSiug. altering and
modifying regulations concerning private occupa-
tons, which ought TO be settled between men Nho
pursue those occupations and the public Tie
usury laws proceed upon the same principle with
the inspection laws-thcy interfere in bargains for
the Of money, to prevent the borrower from be
Ing imposed upon, and tins cfHcious meddling eau
se> more mischief than it prevents. No ;Wo> states
IN the Union have the same provision with regard
10 uSury, and IN none OF them is the public satisfied
with regard 10 such as they have The subject IS
Pcpetud,ly coming up IN legislative bodies Tor dis
Cue>Iou, and the penalties against Usurv are under
gong perpetual Observation-Disclosures they are
made mder and sometimes more severe as the
Whlm Of tIe day may chance 10 be. The true re-
NEEDY for the impotence and dissatisfaction which
every where prey ais is to repeal all the restraint
upon the trade IN money al once. The restraints
upon medical practice come within tie same prin-
ciple. so do those upon exercising the calling OF
pilot. All systems OF banking labououSly devised
by legislatures aud giving GOV eminent sanction
and false show OF soidty to issues OF paper cur
reGcy are founded on the same error Public opin-
ion ami private vigilance If lett 10 themselves,
would keep this matter under better regulation than
any arrangement or superintendent OF the govern
ueut could DO, Il the banker were lett to settle the
matter with the pubiic-the banker protected from
no responsibility and the public amused by no show
OF government sanction
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COMMUNICATIONS
Mr. Enron There is no doubt in my mind but