Marshall County Democrat. (Plymouth, Ind.) 1855-1859, 1857-11-05

The Observation-Disclosures
Tariff.
Ever since the formation of our govern
ment, there have been periods of depres-
sion and stsgnation in the money market,
caused by the issue of paper money. Thou
sands have been heretofore, and are now,
thrown out of employment by this greatest
curse of all systems of exchange and
those who most suffer are least able to be
without employment. In 1885 the people
of this Union suffered severely from this
canse; and, in 1922, 1887 and 1887, we
have had repetilions, increased ten-fold in
their prostrating effects, by the increase Of
population, trade and commerce.
There has been more discussion and ex-
element upon the questions of currency
and the tariff, than upon any others which
have arisen since tie adoption of our ma
tional constitution and the country has
been more essentially afiected-in It's com
mercial, mineral, agricultural and mechan-
zeal interests-by them, than by any 9TH
ers, not even excepting those of annexation,
war, or the admission of new States aud
Territories. The reason is obvious the
strife is between the producing classes,
on the one hand, struggling for currency
50 guarded in the future as 70 protect them
from the paralizing effects of broken and
deprecated 'promises-to pay and on the
other by tho 'ros Ia"e.ro eAnl;"s IN obtain
Legislative sanction to issue three times rs
much paper trash as they have capital; and
this is so great privilege, so vastly profit
able, that they will leave no stone unturned
to accomplish it. For this purpose, large
bonus are advanced for State purposes,
which are but indirect brides under color
of preventing heavy taxes. The mass have
as much, and more, to pay in .he shape OF
interest and discount They would better
pay direct taxes; for, whenever there is a
discount upon paper money, the great
working masses have it to pay. The banks
will even 60 so far as to bride such mem
bers of the Legislature as are weak or ava
ricious enough to be approached in such
away; hence the magnitude and absorbing
interest to all of money revolution.
The lessons Of the past seem to have lost
the power TO inculca.e wisdom and caution
for the future. or their teachings are neg
lected, through incidence on the part OF
those who suffer. or bribery on the part OF
the banks; hence the terrible revulsiohs-
the bankruptcy, fraud aud suffering which
followed the suspension of 1887, were no:
sufficiently potent as TO prevent subsequent
over-issues Of bank rags and their conse-
quent evils to the general prosperity of our
country. True, General Jackson and the
Democratic party succeeded in preventing
q re-charter of the u. S. Bank by the gen
eral government, but the State Legislatures
have chartered more capital, in the respec-
tive States. TO issue shin-plasters, than e1-
listed an 1887; and there is a greater amount
Of paper money now afioat in proportion to
the amount of specie in the country, than
there was at that time Tie consequence
is we are suffering another money crisis,
and the country is conyulsed by metallic
cholic, from Bangor to Cape Sable, and
from New York to San Francisco
Ii behoyes us as good citizens to lay the
axe to the root and eradicate this evil in
the financial condition Of the county,
As good Democrats. we must undertake
the Hercuean task Of cleansing the Egear
stables of paper money, by curtailing their
issue ard prohibiting the circulation o.
mates Of a less denomination than So OF
SIC, and after 4 few years shall have elaps
cd. none less than $50. BY this means
we can force the precious metals into cir
culation sufficient for all ordinary transac-
tons. We should refuse to charter new
banks. and Wind up the old ones as fast as
their charters are forfeited. or expire by
limitation. By doing this we will gradual
~. but surely, bring the country to tho
constitutional currency--gold and silver
Upon this man may sleep over night
without being apprehensiye that tie tele'
graph OF the mex. morning may bring
she news tina. Lis money is worthless. Will
such currency he can feel that 10 specia
privilege has been granted to banks to de