The Washington union. [volume] (City of Washington [D.C.]) 1857-1859, 1857-10-24

many thousands must have in il an Inherent deiec'
This defect apparent in the capacity 10 issue pa
per currency which expands and contracts almost
without limit, and wholly wthoutresponsibiliy to the
government OF people but which safely set both
at defiance When the system wishes exemption
from the consequences Of its acts, it requires gov
ernor to convene the Legislature, at the expense oil
the people, to compel the latter to submit % fahohs
aud crying evil until it becenes relieved of its diff
culties without loss,
The managers Of the system required this service
of governor of Pennsylvania and Legislature Of
the State, and both obeyed at the expense Of const
tutions and the honor 81 the Commonwealth, and
the welfare of the people, shifting the disasters of
rainous system from those who manage and control,
and usually profit by it, to the people, who are
forced to sustain the losses resulting from IL. A
hundred of banks brought agoverhor and legis-
lature to Submissions 30 their WILL and made both
violate the constitution of the Union and the rights
and Wishes of the people, to screen the paper-money
makers from consequences of bad system of cur
rency which they were engaged in manufacturing.
In New York the same interest started in favor
of the governor converting the legislature and there
upon his organs announced his Willingness, and then
that he actually would do SO. But before the city
committee could reach Albany those who at first de-
sired the converting the Legislature changed their
minds, when, 10 the governor began to doubt, and
desired time to reflect and then abandoned the idea
of a special session. Some suppose that their
last winters absurdities and questionable laws
led him not to desire them kgain to assemble.
-. H. ppt ?. L a.
convene them when the papernaonsS makers wished
him to do SO, and abandoned the intention when
they ceased 10 desire it. Neither he nor the gov
ernor of Pennsylvania seemed to evince any anxiety
concerning the wishes of the of their constitu
ents but both subservent to the paper curren-
cy system and ready to conform to the wishes of its
| authors. They were to be relieved, and to be
| clothed with power to declare dividends without
paying their debts while the laboring thousands
were wholly overlooked and left to struggle in pow
erty, with starvation etaring them in the face They
willing TO legisate for the relief of few thou
sand bank stockholders and officers, without making
solitary provision to protect thousand times their
| number who have been thrown out Of employment,
and are threatened with all the iseres of pinching
| want leaving them to the tender mercies of banks
| and bankers, administered through their customers
and favorites Those who have studied the history
of the past will readily understand that the real la
| borer is the last man thought of or cared for by
Them or the supporters and managers of the system
The laboring portion of the community can prop
erly appreciate the consequences of our banks Of
| issue, which subject them to all the evil conse-
| quences of expansions and contractions, as well
as the failures called suspensions) of those who
| make it. .