The Potter journal. [volume] (Coudersport, Pa.) 1857-1872, 1857-11-12
Ranking, HaEkG-. and the
Ebk3ek Democracy.

1t was marked feature of the late
Presidential campaign, that the bankers,
spectators, and kite-hyers of the great
cities, were almost unanimously for Mr..
Buchanan, and that the chief strength
of his competitor was in the rural dis
tricts 1t was the men who issue paper
money, and fhe men who live upon paper
money, who constituted the fighting, and,
above all, the paying, allies of the Black
Democracy. 1t was by means of contri-
buttons raised by the New York fnanciers
at the last moment, that Pennsylvania was
saved to the victorious party.
Now, it has so happened that these
spectators, financiers, and bankers, COM
prehensiveIy known as the silk-stocking
gentry, have got themselves and every
body else into trouble, by their manage
ment Of their paper machines. 8y
- At this juncture, the Administration
which thcy elevated to power, to divert
attention from its own relation with the
banking fraternity, has directed con-
ccrted attack to be made upon banks and
paper money. -.
The whole thing is piece of transpa-
rent hypocrisy. All the world knows
that it was the paper-money men who
made Mr. Buchanan President, and that
they now control his Administration and
his party. .
Neither his Administration nor his
party can in this way escape the odium
Of their connection with the banking sys-
TEN, as established and administered in
this country. T
1t was in Philadelphia, where Mr..
| Buchanan's majority is overwhelming,
and where the banking and commercial
interests constitute his most reliable sup
port, that the late suspension of specie
payments commenced, and under circum-
stances indicative Of special rottenness.
If the clamor OF the Union, and of the
lesser organs of the Administration, up
on the subject of banks and paper money,
is merely political trick, no serious ac-
ton upon the subject by the party in
power is to be expected, and, in fact,
none will be witnessed.
1t is the States which are most thor
oughly controlled by the Black Democra-
cy, as Virginia and Snuth Carolina,
which are most deeply committed to pa
per money, and which will be the last to
abandon it.
Neither in Pennsylvania nor Ohio,
where the Black Democracy have just
achieved complete Legislative ascenden-
cy, will anything be done effectively to
Reform the banking system. Iu Penn
sylvania, especially, they dare not touch it,
because, i:fHsey ALLEVIATE their friends an
! Phj1odelphio, they lose the State.
1t is among the possibility, that the
managers of the Administration hoped,
by their clainors, to decoy the Republi-
can party into defence of, and identi
fcation with, system of banking which
is essentially defective or not, is, beyond
all peradyenture, odious to the great
body of the people.
If the Administration managers have
made any such calculations as this, they
have been completely foiled. 1t is not
the Republican party, with its strength
in the rural districts, which will assume
the special defence of banks, which have
been blown up by the kite-fyers of New
York and Philadelphia az+
The managers of the Administration,
have not decoyed the Republican party
into false position, but they have got
themselves into position which they
, can neither maintain, nor retreat from
: without ruin.
Ifthey reduce their pretended theories
| TO practice, if they will frame into stat
utes the dogmas of the Union upon bank
: ing, and cause those statutes to be enact
ed by the Legislatures which they con
) troll, and for whose conduct they are
politically responsible, they ruin Their
own friends, and sap the sources Of their
own power.
If they do nothing, (and this is, il
i truth, what will happen,) they will have
t courted the ridicule which an intelligent
! people never fail to visit upon empty
4 braTlcrs. Fq,kiag'oa Rlpub,ic.