The national era. [volume] (Washington [D.C.]) 1847-1860, 1858-06-17

posed of lobby members, We have this to say
that not hing induces this so much as the ex
ercise, by the National Government, OF the pro-
tective power. Witness the expendi ures OF
Lawrence, Stone, & Co., of Boston, in pressing
the tariff act of 1857.
In reference to the general profigracy of our
commercial or esations, the rashness OF our spec
uls,ions, we have just this to say-that 1t Is di
rectly treeeable to, and chargeable upon, our
system of carrency, which contracts and ex.
pands by virtue of inherent properties which
increases, apparently, the available capital and
wealth OF the county, exciting to rash invest
ments and reckless extravaganza.
But what does all this amount to? What
possible connection would any sensible man
suppose to exist between the hard.money pro-
pensities of the Federal authorities, and their
interference (?) in the State. managed currency,
on the one hand and on the other, the beating
of poor Sumner-the abrogstion of the Indian
treaties-the appointment as ambassadors OF
Dodge, Mason, and Soule-the mayorslty OF
Fernando Wood-Fremont's religion-the re-
peal of the Missouri compromise--the Kansas
charlottesville bred Scott dscision-the prop
osition to reopen the slave trade-and, finally,
the dissolution of the Upicn? Yet, we are
here tcld that there il an Intimate connection
between them-a connection as intimate as be-
tween cause and effect.
Mr. Editor, if we were asked to give an ex-
ample Of the perfect adaptation of means to an
end, we should specify the fitness of such logic
to vindicate protective policy The charges
all being sdduced-the financial, moral, ard
social condition of our country being displayed
al length in Letter No. 4, and it's national po-
sitiop, at stu greater length. in Letter No. g.
we will now proceed to consider the causes al
legged for all this retrogressioE in commercial
prosperity and in civilization. s Steadiness
and regularity are the characteristics of ad.
vancing civilization. Instability and irregu-
srity are the characteristics of advancing bar
barism." The first we had before 1886 the
last, after. That is the summary of doctrine.
New, having fixed our author to q particu.
lar time, we will endeavor to make him state
the particular acts to which he refers, 80 that
We may have something besides general decla-
nation to review. Is it said, that, under the
he would include-and, as such, denounce-
free trade, as well as hard money? We an.
swer, no. "Hoping, Mr.. President, that, un-
der reforms that you may substitute, the STATE
authorities may be reinststed in the possession
Of the powers of which they have been depriv.
ed, and that we may THUS be enabled to re-
t'ieve our reputation-I remain, &C." OF
course, the State authorities never had the
power to impose revenue duties. Bot farther
for proof that the alleged change in our policy
of currency is charged as the cause of all this
loss of wealth and morals" turn back, Mr.
President, little in our history, finding the
pages in which are recorded the early efforts
o. the Central Power TO obtain direction of the
currency, and you will, as l think, find the
origin of ALL these changes. With such EN-.
phatic declarations, we do not think that it
will be denied that Mr.. Carey charges all these
distresses upon "the efforts of the Central
Power (ihe National Government) to obtain
direction of the currency" If 90, we think that
we have proved before that that power has
done nothing to affect the currency, materially
and for the woree, except in ever allowing the
States to have control of it. l, lie, moreover,
absurd to suppose that the Government has
done anything to destroy the credit or ipjure
the security of the banks, when we fild nearly
$500, 900, 900 CT the bills in circulation-form.
ing the only currency of the country-every-
where received by the States and the people in
good faith and COZ fding trust. If, however,
it is denied that our author refers all these
calamities to the interference of the Federal
authorities in favor of hard money" if all
these unequivocal declarations to that effect
are considered only as further proofs of his in
consistency, we have this to say: all the evils
which have been the result of changes, from
the policy O. protecting certain branches, to
freedom of trade, are chargeabe, not to free
trade, bat to that system which unduly, unnat-
urally encouraged capital and labor to wrong
channels. Free Trade is the natural state of
industry, and the essential condition of its per-
feet health. .Aw