The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-29

public man who has as yet attempted to sympathi
with and provide for such AZ would be otherwise the
expiring victims OF this whrlwind OF calamity. |
Within the space of the last fifty years have had
the visitation Of the scourge Of least Ave financial
reyulions, and during this period each succeed ~
one becomes more ruin0us In its effects than the
which has preceded it. During the existence Of the
Unite6States Bank 1t was the principal operator in
involving IN the trouble OF 1875 it is well known
that for two years after the above period thousands
OF mechanics and iaborers unable to procure
employment, and 1t was stated by Mr.. Niles that
those who obtained situations had their wages re-
duced from 81 to 70 cents day. In 1928 the same
bank, with the cooperation OF the State banks, was
again the instrument Of running majority Of the
business men of the country. After the election OF
Gen. Jackson it called to an account by him
for the sins it had committed against the govern
ment and people. In the strife for the continuation
Of its charter the contest was fierce and violent.
In that prolonged conflict the old hero often called
upon the workingmen Of this city for support. They
always responded TO the summons N the unfalterng
guard whom he might at any time hurl upon the
combined hosts OF the couptionists OF Wall street
After the hero OF Orleans had defeated the United
States Bank the power to exercise mischief was
transferred to a brood Of State banks. Following
the example Of the mammoth institution in the
system OF expansion and contraction in the
sGs issue. Of pspsr money these State ,0an ins
The government up to that time had lost thirty
five million of dollars by its connection with banks,
and the direct indirect profit Of banks up TO 1870
other words, the banks had robbed the people
through the instrumentaty of substituting pieces of
of paper for gold and silver Of one thousand millions
of dollars The great democratic party of that day
having become sensible of the rninous and demor,l-
lizing tendency OF further connection between the
general government and these banks, instituted the
present system OF an independent treasury. They
established the wise policy Of having the financial
transactions Of the nation conducted with gold and
silver. Having thus freed the government from the
liability of being further derauded by these institu-
tons, the banks have been since limited to pursue
their depredations upon the inhabitants Of the differ
ent States by the assent and connivance of the te
gisatues in each of these distinct sovereigntes Since
1s40 it is estimated that the banks in these localities
distracted from the people, through direct and other
means the enormous and alarming sum of between
two and three thousand million of dollars. BY this too
il will be that since the organization of this go
vernment, that our citizens have been plundered,
by the instrumentality of bankers and brokers,
OF four thousand million OF dollars, to build up
aristocracy who hold in their hands these stupen-
dons swindling faro tables, upon which they play
with stocked cards at successful hazard the sure
game of controlling the destiny of the
masses of the American people with the moneys
they have thus obtained. They not only
direct the legislation of the States, but when It
becomes necessary they influence and cause
the judicial officers of highest courts Justify
them in their dishonesty in setting both eonven-
tional and constitutional law at defiance This il
the machinery which is moved by the adroit eDgi-
neers of the paper system, and such the results
OF its operations. When it is the interest of these
extensive policy offices to expand il is done when
to contract, it is executed no matter what who
the sufferers may be. Unlike our engineers upon
steamboats, railroads sefprotecton restrains the
latter from collapsDg. but the adverse is the
with those who have the management of the public
trains in which the interest of the people is en-
barked instead of using q vigilant precaution to
prevent disaster their selfish purposes leads them IN
vitiate the power Of propulsion, and thus cause an
explosion which, in its effects leaves but the pre-
sence of the scattered fragments of the conveyance
upon which those who had travelled to financial de-
structon could gaze. Such, fellow workingmen, are
the pursuits and character of the who have the
self supporting mpudence to array at the tribunal
of public opinion, the character Of public officer
whose chief crime consists in endeavorng to relieve
the people from the difficulties which have been
brought upon them through the wicked designs OF
the very men who now preside over and haranguc
meetings for the purpose of his defeat. II has been
also stated by one or two persons calling themselves
democrats, at the Academy OF Music, that the pro-
positions made by the Mayor Of agrarian cha
racter; the second said that these suggestions
revolutionary in their tendency. Now, II il somewhat
faretched for the it of these orators TO have used
such terms, especially when these unmeaning accu-
sations have been often applied to the democratic
party whenever 1t found advancing principles of
an equality Of rights to every citizen 40 far the
action Of government was concerned III the speak.
er who put forth the opinion that 10 buy and ex-
change -four and potatoes for labor il revolutionary
in its consequences, what should the logic of this
man. who sees revolution in the combustble mate
rial Of barrel Of potatoes exact of his confederates
who by precedent OF revolt against the State shut
mp their gold and refused 10 meet their liabilities?
What would have been the conduct OF this Congress-
man. who smells red republicanism at the idea OF
starving men, who meet and complain of the misery
which has been brought upon them by the action OF
his present fellow conspiratorsy Suppose that these
men were TO refuse paying their rents while employ.
ed, and were To call upon the Judges who sustained
the banks In their SUSPENSION To extend like pro
lection to them would he not have called upon oil
the powers OF the State to prevent such violation
OF the rights OF the andlord7 From the accusations
which have been unblushingly made by those to
whom we alude, we must that such were the
terms OF alliance between men who pretend 10 be the
exponents OF the democratic principle which incul-
Gates strict adherence to the doctrine OF justice
and humanity, and those who have gathered
at oil times under any banner where they
could have the opportunity Of opposing the
liberal execution Of these views In the conduct of
these two unworthy officials at the Academy Of
Music we have the revolving picture Of how tar pri
yate malice viii pervert, euggerate and msrepre-
sent the action and motives ot those WHOM IL so ma
cionsly pursues. We have been told that as work.
ngmeD we have no right 10 call upon our municipal
or State government for employment subsistence;
we answer by saying that under ordinary circum.
stances, will admit that claim IL unsound or
invalid: but the old maxim states that "circun,-
stances alter cases, find that there is reasona-
| be exception which we will urge in this particular
instance. Among the duties which the State obli-
gates itself to carry out is that of preventing class
legislation; the strict intention Of guaranteeing 10
our citizens equality of rights in the free pur-
suit of every kind Of business s distinct and re-
cognzed feature in the code constitution Of our
general and State governments. How ask, can
this security Of the equal rights of every class of
citizens be preserved or maintained when the State
extends specific privilege 10 certain companies To
manufacture paper money and circulate II among all
other Of its citizens the real substance of the in
trinsic value Of gold and sverf In doing this IL IL
not apparent that the State dverges from its true
course and endows with its sanction separate aud
privileged class, who thus let loose upon the
commonwealth, with the powers OF the State, 10 ap-
propriate 10 themselves the means which should be
reserved and diuscd among the pcople1 Our gene
raj government having exricated itself from thu evi
dent interference with the piainest and dearest rights
of our citizens, do not incur the responsibility
and odium of its being medium whereby to enable
banks To depreciate the currency, or by their nia-
ton contraction 10 bring upon the dreadful
consequences with which we now afflicted In
the States legislation the action Of this equi