Republican vindicator. [volume] (Staunton, Va.) 1849-1857, 1856-06-28
NO. 6.

| shall say : II experience should prove
It to BE impossible TO enjoy the facilities
which wellregulated banks would afford,
without, at the same time, continuing to
suffer the evils which the wild excuses of
the present banks have hitherto entaiIed
upon the country. then shoulc consider
i, the lesser evil TO abolish them altogeth-
er. Ii the State Legislatures shall now do
their duty, do not believe that it viii ey-
er become necessary to decide ON such an
al ernative."
Mr.. Clay had charged that the friends
Of the independent treasury desired to re-
duce the wages Of labofing men. As this
is The charge which it's how sought TO re-
vive, we invite special attention to Mr..
Buchanan's reply. 1t was as follows:
I'VE are also charged bv the Senator
from Kentucky with desire to reduce tbs
poor mao's labor. We have often been
termed agrarians on our side Of the house.
1t is something new under the sun to hear
the senator and his friends attribute to US
desire to elevate the wealthy manufactu-
rer at the expense of the la5oring mechan.
ic. From my soul respect the laborise
man. Labor is the foundation of the wealth
of every country and the free laborers OF
the North deserve respect beth for their
probity ard their Intelligence. Heaven
forbid that should dc them wrong! OF
all the countries on the earth, we ought to
have the most consideration for the labor
ing man. From the very nature of our
institutions, the wheel of fortune is con.
stantly revolving and producing such mu-
taiions that the wealthy man of to>day may
become the poor laborer of Tomorrow
tel
and flies away. A large fortune rarely
lasts hey ond the third generation, even if
it endure so long. We must all know in
stances Of individuals obliged to labor for
their daily bread whose 9randfathers were
men OF fortune. The regular process OF
soclety would almost seem 10 consist Of tie
efforts Of one class to dissipate the fortunes
which they have inherited. whilst another
class, BY their industry and economy, are
regularly rising TO wealth. We have all.
therefore, a common interest, as it is our
common duty, TO protect the rights of the
laboring man; and if believed for mo-
, nent that this bill would prove injurious 10
him il should meet my unqualified opposi.
ton.
although this bill will bot have as great
an influence as | could desire, YET. as far
as it goes, il will benefit the laboring maj,
as much, if not more, than any other class
of society. What is it he ought most To
desire Constant employment, regular
wages, and uniform, reasonable prices fer
the necessaries aud comforts Of life which
he requires. Now, sir, what has been his
condition under our system OF expansions
and contractions? lie has suffered NOR.
by them than any other class of societv
The tate Of his wages is fixed and known:
and they are the last TO Use with the in
f creasng expansion, and the first to fall
when the corresponding revolution occurs:
He still continues TO receive his dollar Der
day, whilst the price oil every article which
he consumes is rapidly rising. He is al
length made 10 leel that, although he nom,
inally earns as much or even more than b.-
did :ormeilyi yet. from the increased pr;cs
OF all the necessaries Of lie, he canDots,n-
port his family. Hence the strikes far
higher wages. and the uneasy and excited
feelings which have at different periods
existed among the laboring classes. Bin.
, the expansion at length rcachs Is the explo.-,
ding point, and what does the Iaboriup m.o
now suffer, He is for a season throw
out OF employment altogether. Our mau.
features are suspended; our public works
are stopped our private enterprises of diff
tereDl kinds are abandoned and whilst
others are able 70 weather the storm. h..
can scarcely procure the means OF bare sub.
sistence.'
The reader will be surprised when ne
state that whatever OF foundation there il
r for the "ter cent? chatge is embraced in
/ the extracts which we have made from
Buchanan's, speech. Throug houl the whole
OF 1t there is no sentence Or word wh,cb
gives even plausbility 10 the charcs
From beginning to end the speech abounds
in sound. ;tatesmanllke sentiments which
have been fully illustrated by the exper;.
ence OF the last sixteen years. Our chief
purpose in making such liberal auota,jon.
is to vin,licatt the wisdom aud irmns.s
aud patriotism of Mr.. Buchanan. We DO.
sire to show how nobly he sustained Zen.
eIal Jackson in his struggle with tae Uni.
ted States Bank-how faithfully and abIv
he maintained the Democratic position M
the independent treasury sysrem--bo,v
clearly lie comprehended and how ferribIv
he presented the merits of that systrm
} and how clearly and earnestly he advoco
ted the interests of the laboring man. !,
Isl indeed. strange that the charge of n w,sh
to reduce thewages cfieboring men should
be based on anything in this speech. But !,
must be Iecollected that il was during ,ba
remark able canvass OF 1910 that this charos
obtained currency. In the condition thsn
OF the popular mind, nothing was So all
surd oil prrposterous as not to be accen,a,
Bile to the depraved tastes Of the times, -
This remark is fully illustrated BY the mar.
ner in which Mr.. Buchanan's speech w..
perverted, and a charge deduced f,o,, :,
winch was in direct contradiction Of ,hs
speech itself
Amongst others Who undertook 10 an
sweI MIR. Buclapaa's speech as the Hon
John Davis OF Massachusetts, thai ,vss
usually known as "honest John Davis.
He assumed in his argument, direc,', IN
the teeth Of the fact, that Mr.. BueLsoan
had advocated the independent treasury ON
the ground thar j, would establish an
elusive metallic currency. Starting win
this erroneous assumption, he argued -
show that i would bring down the wage,
of labor Ia the standard ,,~... y 50 H~hNS