The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1854-03-15

the mlScnlei QOue ny tne Sutoii Hoto Si'So
lation Of the banks is plain, palpable, man.
ifest Every man. who will reflect on the
subject can understand it, can perceive its
workings. Our Legislative ultras and fire.
eaters declaim loudly against corporations.
To believe them corporation is a mon
ster at least equal in terror to the dragon
of Wantley. But after reading great
deal from these gentlemen, am compel.
led to say that while they dwell in gener-
ais, their defamation is rather cloudy and
transcendental. and when they become
more precise and specific, it is the sins OF
the banks upon which they descant. Eve.
| ry man can understand the mischieis OF
these institutions. Their small note circu-
lation inflcts upon all business operations
great part of the uncertainty of gamb-
ling. They raise and depress the price
Of property and labor without our consent
and against our will. AS Daniel Webster
says "they enrich the rich man 8 field with
the sweat Of the poor mans brow" Then
why not give up the small note circulation,
which is the guilty cause of expansions
and contractions, changes and revulsions
without end. Other countries have their
own plaques and Affections. but scarcity
of money in our sense Of the word-that
lis an extreme depression Of prices and
stagnailon of business after an opposite
state Of things-are calamities of paper
money countries, and of paper money
countries only. And for reasons which ]
am ready TO give whenever Mr.. ''Nahve"
will allow me leisure, think that they are
attributable to the small note circulation
and to that alone The failure OF crops
and the war in Europe now make ready
and exten sive market for provisions. How
rapid would be the. accumulation OF our
farmers. IF instead of taking their pay in a
(base. deprecated doubtful currency. they
could sell for money fit for accumulation
: and reinvesiment. But doubts about the
worth or rather the worihlessness, Of our
/ delectable foreign bank notes, sends every
: man to the stores to barter for gew gaws
: and fnery; verifying the old adage ",he
baser the currency the brisker the circula.
tion." The wealth OF the county is ad.
vancing in spite of all obstacles, but GER
tainly not by any means as fast as ii would
if we. had a sound and stable currency
But who floods the country with Poshapoe
and Peiepscot? Why the friends and allie.
Of Mr.. "Native." a
y do not feel disposed to argue with Mr.
!, "Native'' about the number of Englisi
!. banks and banking companies. but sufii
:, cient answer to all that he has advanced
!, on. that subject is to be found in the fac
!, that the smallest bank note in, England i
FIVE pounds, almost $500; the smalles
/. in France one hundred francs, almos
!, $4,000 This at once shows the enor
!. nous, advantage which the English an
= French manufacturer, has over our muc
, injured and oppressed countrymen. On
> political error fixes up the way for another
!. Issue small notes, dlate and expand tn
: currency beyond. that Of the commercis
:, world, to the great annoyance and in]ur
of our manufacturers. then lay protee
! tive tariff, for their benefit. That is, fe
:. low.citizens, WINGS AND DEMOCRATS, for
:. are all equally interested in finding III
= truth. lay heavy tax upon you and m
:, and all Of us, not for any actual purpos
ri Of government, not to provide for the nj
u cessities of peace or war. but to enab
!. the Pennsylvania iron master, the Northel
weaver, and the Southern cotton and s.
- gar planter to levy another large tax
- the increased price OF their productions!
.I Better conform to the n natural laws of trad
:, commerce and currency protect every ms
:. in his natural rights, and leave US all
!. our own exertions. Il have already hint.
3 at the excesses of some of our democrat
:. ultras and fire.eaters. / can see and
!, plore those excesses IS readily as any ma
!. But venture to predict, that the main lea
- ing principles Of democratic policy willw
"a their way to universal acceptance. Tn
would make the ..aciion Of the eovernme
=. descend like the dews OF Heaven in BILE.
=, Iings and benefits upoL all, in heavy b,
=. dens and rigorous exactions upon none
=, My worthy antagonist steps from tai
!. to fancy in order to overthrow my arg
-. ment, and 10 show that it is not the wrett
=, ed state Of our currency but the low pri
ov of labor in England. which gives the Er
an lish manufacturer SO great an advantaI
IA ..If the blind lead the blind, both shall
IL Into the ditch, = SO says the scripture.
,ey F''Native" speaks of from tDelre to JJt'
Mi. (oehts per day, with board "to be sure
mo no meat" as the ordinary wages Of mi
es,. ufacturing labor, and speaks Of the mas
. m !, as ..subjected to vassalage but little be-
Inc, than American slavery" An English $
Md ling is rated at twenty-five cents iede