Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1850-02-08
Bank or no Bank.

This question, so far as any result is concern
ed, may be considered settled FOR year at least,
by the emphatic action of the Senate in voting
down the proposition of submitting the question
to the people. This action does not correspond
with our views, nevertheless we are not disposed
to censure either the opinions or motives of those
who thought and acted differently. The agita-
ton of this question has just commenced, and
we see in the future, it not the dismenlbernent,
at least the CONFUSION of the present democra-
tic party. with reference to it. Already denun-
Citations are rising against those who were favo-
rabe even to the submission Of the question to
the people, and we hear occasionally, from those
who feel themselves in authority in the party,
that it would be well for members of the party to
walk circumspectly in this matter Or they may
find themselves read out or hustled out when
they least expect it. Ii is true the democratic
party in their official conventions have passed re-
solutions against banks and banking, but we sup
pose, whatever views may have been entertained
by those passing snch resolutions that i will be
conceded that all to which the democratic party
could be legi;mately pledged would be 10 oppose
grant of any special privileges of any charac-
ter whatever, for the purpose Of banking, and il
strikes US it will be time enough 10 doubt mans
democracy when he is found endeavoring to pro-
cure for few what he is Unable or unwilling to
procure for all. This question of currency has
been agitated for some time, but we think is not
yet understood. We once entertained the opin
ion that gold and silver were natural currency
and the onl y material that could with any safety
be used for that purpose, but we think, as on re-
Election will others, that the value of gold and sill
yer as circulating medium, is quite as nominal
and fictitious as is that ofpaper The greatques-
ton is, what is for the interest of the masses
how shall these extremes of wealth and poverty
be abolished and the happy medium of comfort
for all be attained-how shall the thousands of
non-producers be compelled into the field of pro-
! titabIe production, and by assuming their share
OF the worlds bnrthens, tighten the burthens of
| those nsw overtasked All questions are i'm
portant only as they bear on these points. By
investigation it will be found that gold and silver
have been and arc quite as active and powerful
agents in producing the disproportions which
exist IN society, as any other agents They are
Intrnslcay, in the shape of coin, worth nothing,
for they can be neither eaten, drank, or worn
they are non-productive, and in the business OF
the world, occupy the position of the no,t-produ-
ccr-a mere go-bctween in the exchange of pro-
duct, and like other non-producers and go-be-
tweens, absorbing to themselves the chief share
of the worlds real wealth. Thus, as all know,
money begets money, and man who has the
capital to start WITH may sit idle all his DAYS with
out stroke OF productive labor, and see his pos
sessions growing and accommodating around him.
Now this is wrong, for argue as we may, and
mystIfy ourselves as we choose in the compHca-
ted details of business, it cannot be denied that
any agent or system hch enables man in idle
ness to accumulate wealth, is radically wrong.
We apprehend then, that in the agitation of this
currency question, which we look upon as Jus,
commenced, it will be found that the threshold
of truth has scarcely yet been entered upon. l.
the great object be the breaking down of systems
by which wealth is conferred in few hands and
the mass are consequently robbed of their pro
ducts, ii is very evident that every thing WHICH
accumulates wealth TO idleness, must be abroga-
ted. What then is really the business of the de-
mocracy? We doubt whether it is to condemn or
to sustain any system of currency; but rather,
while II Jcalously guards the power Of the state
from being used to grant special privileges to any
man or set of men, to relieve business as much
us possible OF all restrictive laws, and permit it,
as it will, sooner or later, to work out its own SAL
vation.