Meigs County telegraph. [volume] (Pomeroy [Ohio]) 1848-1859, 1858-01-12

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,shaI dnn.ad s.. 49, :,
1si.,s..t sIs $500 y
NJ bp's y. shf'S ThSS y
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h;rh sSn'' Sn,, =" 49,, 1 4
W}tb ,be yssr 1904 ,bsre iss Gan,s itrr. = ~ !
E.;.l a ohann ~ S,'IIt,red 1eeo n T.. : paI
ev,.ns;ya nna IL rYioy ~, = :,
In .h.nn;nn S,Son ~ -, l;os NffssJs 60 ,rsJo
70 nr,,,act;ye .,,,a ,r - ,,,sr5
ware sneed;lg ses, r Il Ls NJ isn Z, !,
\ factufgs. hi HE tien,auf f5r me Z,
the earth, in the import of spec;e. ibp1 an
increase of public revenue SO so great AZ 10
require the emancipation Of tea. coffee.
and other commodities from all cobtr;bu' :
ton to the public revenue. IN the final ex-
tinction of the public debt. in n general
prosperity. public and private. and in a
feeling throuohout the country of strenotb
and power, far exceeding even that which
followed the return of 6eace in 18I5-
That prosperity. however. was a ouiet and
TRANQUIL one, there having been but little
speculation, and therefore little tendency
toward the creation of unnecessary bapLs.
The few that had been created had foupd
their places in the Eastern States ThA
total number. in $50. was hut 3o1 AGAINST
3o7 that had existed ten years previously.
and the Increase in the amount of can;tal
was but $4,000. OoO-the 8 IO7 600 600
of 1920 beino renresented in I8ao bv
SIlO. 900 600, -
,Aeain. however in 1a34 tho system Of
the Central Government was cbanoed-
provision having been made in 1854 far
the gradual nassaoe from nrotect,ye 10 a
merely revenue Tariff, the last stage of
which was to be reached in 184o. Nj.
merous banks we're now again created
enormous foreion debts wera incuyrad. and
the result was seen in the ;nsolvencv Of
the banks-tbe ruin of the merchants
the prostration of the farmers and nlanters
the d,ain of specie-tbe renudiation Of
& ates--.and The bankrnntcv of tbo Tre.s.
urv-tbe Government itself being reduced
to the use of inconvertible nansr monav
as the only means bv which the machine
of State could he kent in mo,ion WV
Once again in 1sa9 tb. evston, of tho
central Goyernment wascbanosd q b;abIv
nrotect;ve tariff bav;na baan s,bsf;,nia ad
for the revenue one of le41-9 Few. i
anv. banks were now created. foreicn debts
were now Maid off hanks now resnn,od
payment; merchants became. once again.
prosperous: snecie flowed in. safes he.
came arain able 10 collect tbe;r tayea and
tberebv redeem Themselves from, Tho die
grace of repudiation. and the revenue in
Creased rapidly. while the peaceful policv
Of the country greatly facilitated reduction
in the sums demanded from tbe Treasury
Peaceful and Quiet nrosneritv was tho
characteristic of this neriod-tEere baving
been no sneculatiye movement Whatsoever
and therefore no inducement fnr any ox.
tension of the number of institutions ON :
Moved in money onerations Atno ne,iod
in tbe history of anv country had tb4re
existed SO lliTh a decree Of confidence in
the future as was found here exis,;no in
the wear which preceded the enactment Of
the revenue act of Auuust. l846
Ry that act. the svsfen, If tho certr.l
Government was once more CHANGED
nrotection having been abandoned and the
tariff HAVING been ad;usted with reference
to revenue alone, l. has now been in
existence eleven vears-vears cbaracteri-
zed bv an amount Of instability and un,.er-
ta;ntv in all commerc;al afF,irs almost eo,,,l
10 that which existed in the ner;od which
embraced the EMBARGO and non intercourse
octo and the w,.r wS;cb foIlowod RanIe
;nnnme,abla have heen crcated Prices
hova1 r;sen .nd faIlone ronsotoalv Ntho
nLou,os bav;no. bdon 1rr.,t al,nos, I.vond
ali nrsy;ous nT',coIort F,nnr ond c,,t,nu
have Of fines bean lowoy in nrice than
bod aver hee,,e haen known ! Will at
otbars th.,, bovo ovb;b;tod ,o,Jancv to'
ward r;s;nn @ r. tho nn;nt ot vh;ch tbey bad
s,ood I =. ,1,o noss,!re @ | nf the free.trade NET a"t
of iaIs n me- result IA saen in tbo fact
,b.t tho or,annG.c,urors onJ tbo rnornIants
on ,.,;noJ J''.that tLa n,,n1hnn nf norsnns
aso,.nIavad = oraat hauoud n, rn,a,,nr
nrecefent,4N,hat ibe n,;cos nf all onr eta
r.. ProNNo.N 80 III II P -