The Rutland herald. [volume] (Rutland, Vt.) 1850-1852, 1851-08-14


'a''ons offered by the tariff ot 1916, va
have. n, a nation. housh, ,co much. and
incurred too much drl,, and tho day ot
reckoning nov rapidly Fastening on.
Ands ns greatly ia debt, rendering "
necessary TO drain the country :" 1t.
gold aud silver. to make up the de6eicn-
cy md hence the sringcncy Of onr
monetary affairs, The European mar.
Nets are g|uucd with on. Southern pro
ducts, and there IL 10 lcnaRd there
for the fiec labor products of the North
and West, except in case. Of famine.
and there being none in Europe noM.
our expectation ,hithcr of grain, or hrct
or pork is, OF course, very limisrat Tho
balance of trade agaius, us has 10 DO
made mp by the csporta,'sn Of specie.
the effects of which the commercial
! cities mr. now beginning to feel, and
whicl, will soon be f.lt ,hrsughou, tho
entire country"
We ask the candid re.ltr to carefully
pcrnse the following ea,rnc, from " Ua-
rcy' prospect a, III. opening Of 1851"
aud seriously ask himself the question.
whether |, does not contain a',rophc,ic
warning, and whe,hc, svcnn have not
shown the truth, in par, acleas,, Of what
|. there asserted.
la the las, half year orr imports
have reached. as IL !. UNDERWOOD, nbou,
one hundred and Gdcsa rsilcas, and
the debt accumulated s0NiHW ne last
year mus, have exceeded tfsy ~s'ihons.
Of which about fifteen pnT,c-s were re.
quired for the payment Of interest This
year VIC shall probably 60 in deb. HIty
or serenity millions Of dollars; Tor which
VIC shall have less to sen and mere TO
buy than in any previous me, and tho
close Of the year will prsh,bly see us
with debt Of three hundred and nv
mi|hons involving the payir-n, Of moro
than trcnty millions annually fcr inter.
est. With cacl, transfer of s,cci-S aud
with each step IN the progress Of t.7M,nu-
ton III the power TO invest capital safuly
aud prohinLly, the price Of good s,a-ks
must incrcasc among ourselves, until NJ
length they attain IL point higher than
they will command in the foreign mar
ket. Their export must then cease.
and the demand for specie must then
arise. Our silver i., to a great ex,cn..
already gone. Gold must follow. and
the demand for only n few millions vii,
open the eyes Of the bank directors 10
the fact ,ha, they are trading TO IL vast
extent upon the funds Of others. " no will
now be able to usc them for themselves.
Discounts at banks will diminish. and
note holders will be forced into the street
to obtain, n, twelve, fifteen, or twenty
per cent, the Mrans Of executing con.
tracts made when the rate of in,.rc.,
was but five. Then will come rmr
ErvrLsInS. and then viii disappear III,
prosperity Of which VIC now so fondly
boast, nnd how raTidly the one vii!
replace the other, may be Judged OF
by those who witnessed the change be-
tween the commencement and the closo
OF March. 1887. The few will then
grow rich, and the many will then 10
impoverished. New York. ms the cen.
ter Of speculation, will, as in 1897. fist
feel the shock. but thence il will grad.
ua!ly expand itself until it shall bt felt
Throughout, the Union, aud all shall feel
themselves involved in one com,nnn
ruin, the result Of the policy of 1916"
Mr.. Cary then cnuncraics the results
which will affect the laboring classes.
and say: al the reader doubt tho
correctness OF these anIiripaiions,
would Request him 10 study the history
Of 1886, and try il he car 0nd in wha,
is now .ranspirIng. any one fact which
does nu. correspond with whn, iLcn oc.
Cured"
Now whn, il ih- duy of the pres,
throughout the country, when the .sns
nf the times" are so ominous Of c,ilP
Who but the press can ra.e the voice
Of warnins' Let ~, then, I.ok this
evil Of or,y importation bodily IL the
face. for to it can bc charged whatever
present difficulties We l.,ipi nnl.r. Let
Us not, Ivy SILENCE and .upinenes.. add
the pon'rl Which > sare, ..1su.r Or later.
10 break a.. cnmci. back.