The Rutland herald. [volume] (Rutland, Vt.) 1850-1852, 1851-08-14
fIom the Rot;oa >tin.
MONEY AND IltSINENN.

has seldom Lrsn period when lrss
confidence existed among mercantile
men. OF when more depression r.,gnch
among stocks and securities Of almost
every description The prescn, state Of
things can be traced with certainty to n
c.0sc Which will rvcntnallyGf not avoid
ed lead 10 general bankruptcy and
ruin. We r,fer to orer-,mportotion, rs
the source Of the existing financial diff
cul'ics, aud ii Is the rock upon which
will strike that great ship Nation al
Prosperity. ], IL useless Tor journalists
to at,emp, to throw du., IN the eyes ti
the people by Disgusting or keeping
from them so plain truth. The fact
/ canno. be twisted and turned continually, ,
and there must b. an end TO all ,pecu
la.ivc theories on the subject, when the
results Of practice are so apparent in the
monetary transactions Of the day.
The importations into this country
during the past year, We repeat, hsve
been the cause CT III" present financial
depression. Our ability to pay has not
kept pace with our desire 10 do. We
have flooded the country (or We have
allowed foreigners TO do il for us, which
is the same in ciTcc,,) with the manu-.
factures Of tie old world, and in return,
have scn,--not the products Of the SOIL
which were, according TO free trade
sophistry, 10 balance our foreign nc
counts-but n large portion Of the in.
berent api,al or wealth of the country
! gold aud silver. We have locked up
the industry Of our people, until we are
in reality Dependent, and impoverished.
We have confncdthrir physical strength
BY the wi'hcs Of impur, legislation. We
have slIorn the Sampson of his locks
aud placed him in the hands Ci the Phi
hsiines.
By listening to the vain and shallow
reasoning Of those enemies of American
lnlusiry-.free-traders-we have been
induced to throw away and discard. II,
entirely foreign TO our prosperity the
great manufacturing interest, without
which We cannot exist rs m independent
people. and without which our iinnnces
cannot avoid toticring to their base. On
the other hand, this great interest being
fostrrcd and succored---not in particular
localities. but .h'oug ghoul the length and
breadth Of the land, aud the result to Us
as a nation is within the range tf nny
one. who will take the trouble to look
back upon the disasters which have al.
ready ovcrrnn the country TO great
extent, through the operation Of an H.
advised system Of legislation. There
are no causes so detrimental to the n.
nancial interest OF q country AS the sup
preston Of its industry, and the consc.
queit dependence upon III. labor Of
foreign nations, with whom there is no
thing in COMMON.
Is there not. then, sufficient ground
for US to stand upon, when We nsser, our
honest conviction lhn, the financial de-
preston now existing throughout the
country is caused by over-trading with
foreign powers The fluctuations Of
stocks md securities are but the conse.
quence OF financial distre-s--ihcy are
not the causes Of the trouble, ~ many
imagine. Neither will the effects OF
the true cause-ortv-,mportnt'o" be
eradicaled by the export of our Caliior-
MIA wealth. Such course will only
increase the evil chccts--a fact appa-
rent from tho communication in our pa
per of the Sis, of July. We need the
retention of every ounce Of gold we can
get, for the Obvious reason that it i
par, Of the capital OF currency N the
country. II can no more be compared
to the article Of wheat, for instance, - 50
fur as paying o"y balances 10 concerned
than we can form n 'igbteoa. smile
between protection and free trade
there is no similitude between nm arii,
Gle which should form the s'aplc cur.
reucy Of a country, and one which was
intended by nature to "f.ed the hungry
N 'b. world"
The Philadelphia New. Of the 7'h,
has the following comments upon The
ptesen, state Of affair:
The vresen, s'ringency in the mon.
ey market j., We greatly fear, but fore.
tate Of the bitter fruits produced hy the
ruinou, operation Of the prcsen, revenue
policy Of the country. II wc do 10,
greatly mistake lie signs Of the times,
wc are now about to feed the cii.cls
which mus, always follow the encoar-
agement Of foreign impor,ation,. Eu-
ropean manufactures liav. been pourin.
in upon Us to an extent almost without
II parallel, AID .old Of a, auction for
villa, they would fetch, and the proceeds
good par, IN specie, returned to Eu'
rope. As might have been expected,
and "A. was predicted by many. many
manufactures. -,p~ciaiiy ,hoss "f irun.
have t~-n irreIrierably ruined by the
fall of the price, Vi the ARTICLES n'a''"-
/ t.cilr-d Nv them Oar banks. iabofing
under a c,,n,,an, and irresistible dram
VI specie to make up f,f tie balance %
trade against hi. country, have been Al
last conpeibni. uT wiihdailins III,
eo.,-lnnt nsus II gold from California,
! 10 ronirac, their cireYls',on and di,.
couais. and thu. bring on cri.i. j"
| i'..s,etsry af5airs. ~ls.sh Is nov fcli ia
lie eDfnussveia eiiic,. ans, wbiel, w,li
soon he severely frl, ia ryrry sesf ,o' s'
The country, aud lo.I,~.d by i!.- byrs'.
nnI up u businsss men. ~ The "lef.
, reduction q their acconm'-l,iioha. lug
for the o,,cnn'2 II i!.e Cslii3r'g. .olJ'