Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1858-02-17

...Jii 10 congress, tur such an al
,.,;tion OF the Constitution US will make it obi.
gatury On the States to restrain their banks
from issuing bills under twenty dollars. trust
that the New England people will have learned
by two sad lessons Of rcyulsion, that Mr.. Cal
houn and President Buchanan were right in tic
doctrine, that hard money currency is the best
tariff Of protection that could be given them.
New England is in 4 worse condition tl;an any
part of the country Her bank circulation and
dcpositcs amounted in Jaauary, 1856, to >evcn-
ty-nire millions, while the banks had hut slX
million seven Hundred thousand dollars in specie.
Ii the great men. Of New England had viewed
the subject OF protection to domestic industry,
as Mr.. Calhoun aid President Buchanan did
twenty-five years ago, they wonld have stund
on very different footing from what they do
now. Their machinery would have been doubled
since l%4j, and they wuuli HOW be consuming
protitaLly twelve hundred Thousand bales Of
our cotton per annum, III place OF seven hull-
drcd thousand last year, and possibly ioar hum
drcd thousand this year. They had, however,
fixed their hearts on the protective tariff sys-
ten, which had brought into existence and had
reared Il great branch Of industry into maturity,
! but which was no longer needed for It's support
! The tariff Of lSlG they regarded to he an ull-
! kind cut Som the South-an insult they were
determined not to swallow, without al attempt
at revenge. From that period many Of their
leading men trrled over to the abolitioniSts, and
commenced an agitation and a storm that many
have been most heartily tired Of; but such was
the magnitude Of the raging whirlwind, that no
power could allay it, save the exhaustion of its
own clements, which, thank God, has burst it
asunder, and we now have peace and quiet.
"Bleeding Kansas will no longer he heard Of !;
the suffering down-trolden negro Of the South
will be found to be in Il better average condi-
than the peasantry Of nations generally, and
infinitely better off than the free negroes of this
or any other country.
trust that this revolution in the currency
will he the finishing stroke to the warfare he
tween North and South that all will he convinced
that the best tariff Of protection will be found
in Il hard money or restricted bank currency.
1t protects all alike No one section is taxed
TO support the industry Of another. The plall-
ter, manufacturer and mechanic all bear the
burden equally, and all are equally interested
i'll steady and cheap labor, and all appliances for
the advancement ul productive industry. 1t Is
confidently hoped that this second sad rcvulsion
will bring the several States in the Union all
on the same platform, and that we will be able
tr make u simultaneous effort to establish uni
form and permanent currency.
Nature has worked for the Southern people,
and kept them blind as to the effects of an infla-
ted currency. Frosts droughts and storms, have
brought aGouta succession Of short crops, which
has maintained high prices. The West has also
rcaped Il rich harvest from the wars and flmineS
on the continent Of Europe, and consequently
obtained high prices for grain while All inflated
currency has carried desolation and ruin over
every other branch of industry. 1t has passed
over our whole country like Il meteor, blighting
every thing it touched 1t has spread ruin and
dcsolation among the manufacturers Of the Mid
die and Eastern States, and cast a witheriag
blight OH all manufacturing industry at the
South.
I have felt personally and sorcly, the evil, il
the management of u large cotton manufacture
ing establishment, which, by the dint Of close
economy and good management, has paid II
per cent per annum, while, all our advantages
considered, am confident that i'll such times Il:
VIC had from lS42 to 1916, that establishment
would have returned its cost, $3.50, 1000, to it
owners every five years.
1t has paid good interest to its proprietors
while many similar establishments in the North
ern and Eastern States have been compelled Il
stop, and now stand tax to the owners; and