The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1848-02-18

receiving fair profits, and the working men
augmented wages and employm cnt." -
"And now, when, Under our successful ex-
ample, the ports Of Europe are most prcba.
bly, about being more widely opened TO all
our exports, shall we check the advancing
spirit of the age, and extingtiish the dawn.
ing light of commercial frcedomP Every.
where nations are being aroused upon this
subject; their statesmen are resisting the in.
terested classes, and exposing the injury and
injustice Of shackles upon trade, ard will
soon enrol the names of other countries OH
the great International league Of CONNER
cial freedom for the benefit Of mankind. II
was our own country aid her public func.
tionaries who proclaimed these great truths
o,hor , they had received the sanction Of
"With such results already from our efforts,
we have every motive 70 persevere until the
free trade doctrines Of Great Britain and
America--the two great nations of kindred
blood and language-shnll open the ports
and disenthral the commerce Of the world"
"Frante, Russia, Germany, Austria, TIA
ally, Prussia, Switzerland, Holland, Bel
GUM, Denmark, and Sweden, and even
China. have moved, or are vibrating or pre-
pairing 10 move in favor of the same princi-
pie; and If Dur own country and Great Brit
ain adhere to their present emil ghtened pol
icy, the rest of the world must lose their
commerce or adopt, as they will, our exam
ple."
come now, Mr.. Chairman, TO speak of
the last measure in the series of the trumphs
OF this Administration TO which my limited
time will allow me TO give attention at pres
ent. refer, sir, TO the constitutional treas
ury, upon which that great and virtuons
statesman, President Van Buren,, fell; but
which, under Mr.. Folks Recommendation,
: has superseded the act Of l7e9, for the Gus.
tody the public money. This measure,
like the revenue tariff, as strenuously Op-
: posed by the horde Of bankers, brokers,
stock -jobbers, and nsurers many ofwlion,,
j as custodiers oithe public treasure, had spec.
: ulated uponit, from the repeal OF the coiisii
tuiional treasury in 1871, by Federal Con.
gress. 10 the date OF its restoration, in 1916,
G 10y Democratic Congress; and who, there
" fore. were unwilling TO give it up. The
country may now congratulate itself upon
: better state of things. The taxes drawn
: from labor are no longer :ubjettto bank
: failures and bank frauds-they cannot be
IS prostituted to party purposes-they are in
i the responsible custody Of the law. The
y simplicity Of such a system Of finance, its
direct provisions, for the collection, safe
!, keeping, and disbursement fthe public rev.
: enues, by officers appointed, and penalty
n and otherwise bound fer that purpose, LIQUID
y commend it to the especial favor Of the
), friends Of State rights and republican vir-
u tue. But here, again, what the Secretary
II OF The Treasury (Mr. WalkCr) says OF the
!. operation Of the constitutional treasury:
IT "Iho receipts and disbursements Of tie
= Government in specie, during the last c.
II leven months, have amounted together, TO
c the sum Of $50, S94, i02 10 and not dollar
/ has been lost 10 the treasury. nor any injury
e inflicted upon any branch Of commerce or
: business. The constitutional treasury has
= been tried during period of war, when it
r was necessary 10 negotiate very large loans
IL when our expenditures were being incrCas-
: ed. and when transfers unpree edeiItCd in a.
mount were required TO distant points fer
:, disbursement. During the last eleven
u months, the Government has received,
:, transferred, and discussed more specie than
p" during the whole aggregate period Of
IS ffiy-seven years preceding .'ace the aiop-
D. ton of the Constitution.
n Outing the year ehdin:, Goth juno, I847,
u ourimports Of specie were S24, l2l .2s9. most
J. of which, under former systems, must hate
), gone into the banks, TO hate bcch made tho
~ pass o' lss"rs o' 'heir paper 10 the addition
p ~ a,'ou,' VI n,! ., SHY .mi,nhs CT dollars.
r. ou9n III eNP"hson, uur'hg me Iant spring
'n" summer, "''o"'pa"'.o ny sun n'sher
If pil',S, anu ,o,lo"." NY greater iali, ana
n ~ o","."p.' , III E.g,ai'" 10 an extent
II credit greatly expanded, and ren citing upon
! 'lis eAI"ns'on' MuuIo nave produced re-
cm,s'"n mune INr e, ,n any .hat mas hereto;
"'e ''t"''V" ~ w. c"1".Iy' ~ general
resnlted depressny The wacas NJ LAZY, .ss S
. price. If rrcncnv and nroans,s. at,.s. G.a
! iniuriously the opcrhtiohs and cred;, av.. *
, the mos, solvent. and nroJnr;rh ".,.,..;..a
bonkruntcics. Fran iii. ,c .n,I ;,n 49,
; been saved by the constitutional ,rchshrv
by which the spec;e imnor,cJ. instead ,,rh:.'
2 ING converted into hank isSnas hos u rs o
made 10 circulate dirct,ly IN n c,,n na ,x Uvv
Ms n currency anon, the nconie
+ The banks Thar So nn,y;.c,,, oo,o, 81,
system have been rc>rucd rr,ab,. VIZ
another Susneu.ion. ,bo;r =; ,,nI,L.I,!, "S"'