The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1856-09-17

people OF THIS country. desire 10 eee the
banks greatly reduced in number and
would, If could, confine their accommoda-
lions 10 such loans or discounts, for limited
| periods, to the commercial manufacturing,
and trading classes Of the community as the
ordinary course of their business might rem.
der necessary. never wish to see farmers
and mechanics and professional men tempt
ed, by the facility of obtaining bank loans
Cor long periods to abandon their own proper
aud useful and respectable spheres and rush
into wild and exlravaga3t speculation 4
would, If could, radically reform The pres
ent banking system, SO as to confine il with
in such limits as 10 prevent future suspen.
sions of specie payments; and without ex-
ceplion, | would instantly deprive each and
every bank OF It's charter which should again
suspend. Establish these or similar reforms,
and give us real specie basis for our paper
circulation, by increasing the denomination
of bank notes first to ten, and afterwards TO
twenty dollars. and shall then be The friend,
not the enemy OF the banks know that
the existence Of banks and The circulation Of
bank paper are SO identified with The habits
Of our people, that they cannot be abolished,
even if this were desirable. To reform, and
not destroy, is my mollo. To confne them
10 their appropriate business, and prevent
them from minislering 10 the spirit of wild
and reckless speculation, by exlravagant
loans and issues, is all which ough, 10 be de-
sired. But this shall say. If experience
should prove it TO be impossible 10 enjoy the
facilities which we'll regulated banks would
afford, without, al The same lime, continuing
TO suffer The evils which the wild excuses Of
the present banks have hitherto entaied up.
on the country, then should consider it the
lesser evil TO abolish them altogether. 1.-THE
State Legislatures shalt now do their duty,
DO not believe lha. il will ever become nee:
essary 10 decide on such an alternative. >.
awe are also charged by The Senator from
Kentucky with desire TO reduce the wages
of the poor mans labor We have often
been termed agrarians on our side Of the
House. 1t rs something new under the sun,
10 hear the Senator ard his friends attribute
10 us desire 10 elevate the wealthy manu-.
faclurer, al The expense of tho aboriug man
and The mechanic. From my soul, respect
the !aboring man. Labor is foundation OF
the wealth OF every country and the free
laborers o: the North deserve respect, both
lor their probity aud their intelligence
Heaven forbid tina, should do them wrong!
OF all the countries on the ea'lh, we ought to
have the most consideration for the laboring
man. From the very nature Of our ,insIitu.
tions, the wheel Of fortune is constantly re-
volvng and producing such mutations in pro-
perry, that The wealthy man ofto-day may be-
come the poor labofer of Tomorrow. Truly,
wealth often takes 10 itself wings and flies
away. A large fortune rarely lasls bey ond
the third generation, even if it endure SO long,
! We must all know instances of individuals
Obliged 10 labor for their daily bread, whose
grandfathers were men Of fortune. The reg.
ular process of society would almost seem 10
consist of The efforts of one class 10 dissipate
the fortunes which they have inherited, whilst
another class, by their industry and econo
my, are regularly rising 10 wealth. We have
all, therefore, common interest, as il is our
common duty, 10 protect the rights of the
laboriug man and if believed for mo-
ment that this bill would prove injurious
10 him, II should meet my unqualified oppo
sition.
:Allhoush this bill will not have as grea
an influence as could dssire, yet, as far as
it goes, ii will benefit the laboring man al
much, and probably more than any othe
class OF society. What is it he ought mos
10 desire ? Constant employment, regula
wages, and uniform reasonable prices for The
necessaries and comforts of life which he
requires. Now, sir, what has been his con
di,ion under our system of expansions ant
conlractions7 He has suffered moreb by then
than any other class of society. The rate o
his wages is fixed and known; and they are
the last 10 rise with the increasing expan
sious and the first 10 fall when The cores
pondihg revulsion occurs. He still contio.
ues 10 receive his dollar per day, whilst lht
price of every article which he consumes, il
rapidly rising. He is at length made TO fee
that, although he nominally earns as much
or even more than he did formerly, yet, from
the increased price Of all the necessaries o
life, he cannot support his family. Hence
the strikes, for higher wages, and the uneasy
and excited feelings which have at differen
periods, existed among the labofipg classes
But the expansion at length reaches The. ex
plodiug point, and what does The laborins
man. now suffsra He is for a season lhIowr
oot of employment altogether Opr manu-
fac:ures are suspended our public works are
stopped; our private enterprises Of eifferen
kinds are abandopedj and, whilst others az
able 10 weather The storm, lie, can scarcel,
ptocnte The mesns Of bare subsistence.
/ aAgain, sirj who do you suppose held thu
greater part Of the worthless paper of ihe on.
hundred ard sixty Ave broken banks 10 whicl
4 Ihave referreda Certainly L was no. th'
keen and wary specuialoi, who snutfs dan
ger from afar. If you we're to make th'
search, you would find more broken banl
notes in the cottages Of the laboTiug poo
| than snywhete else. And these miserabls
shipplasiers, where are ,iheya After the ts
s.za - II =.