Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1858-09-26

n. oLservafiou and eKpeTIenee Of lns @NiJ
business men Of the country nave lso tseln =
cIDsion that the best regulator Of trade ana cur
$50 a,,d the srrest preventive Of those disastrous
s.l.ystions in both which have so often broegh'
5;tss Dou the country, is to be sought tof IN 'hS
commercial policy Of the Government -, !
The great question Is, whether TINS power =
lste foreign commerce can ought to be e1erclseu
in such manner as to increase and give staoi'y 70
domestic or internal commerce, Or as one sGnOOi -
political economists contend, solely with the
to raise revenue for the support Of the r
No great derangement or huetuatloh ~ sAo
renew Of the country, any commereial
has ever been brought about but IN eonileO'iOA
excessive impoFtetions Of foreign pEooue.s. - -,
whoever. like the President and the autnor % "a. o
article have referred to in the Edinoarg ne.'o.
attributes the late revUsion, with al us 80 -
evi1s A an flregulated currency, must De oeol "
/ az. t.oobi7gs az experience The one OF these au'
tborties is Supporting party and the otnsl sno
teresis of his own country The unIsetAioS 49,, 80
of naner money NAV have contributed 70 tAe useS
ter as have before stated, but the ereas ne =; -
/ of fbis widespread calamity is TO De lounu -.
| iIl.reeulated unrestrieJed foreign commeTCe. SA'
n was free trsdel All freely admit that 'ne lne
facures of Great Britain are the principal Iouhus'
lion and support Of her immense commerce. one
exports no raw products; her manufactures no" sup
1 l onnuaIlv an average Of el0O OOO O0U OF EXPORTS
IannvaIent 10 $500 100 COO and this they do after
simplifying the home consumption TO an equai amount
az estimated by her ablest economists; thus making
the whole annual product OF her manufacturing lu;
dustry goo 600 000 equivalent TO one Thousand
millions of dollars 1t this exhausiless mine OF
| wealth that carried England through the terrible
and expensive wars of the French revolution tri-
nmnba1Ev. and it would enable her again to subsi>
die half the world in any great war in which they
may happen to be engaged
The port and msjesty with which Great Britain
r,oves among the nations are justified by her mex
baustibe natural sources of wealth which she early
discovered. and had the wisdom to develop If 1t
we're fit and Just that any one country should make
ali others tributary to it, the small group of British
Isles. the seat Of British power, with their comPa-
rative dimiuutive population, by raising themselves
IN their present pre-eminenee, have won the right
to make the world tributary to them; and now, hay
ing attained the full measure Of the benefits which
protective policy could bestoW, wen may tnat great
people challenge an exchange Of their products for
the commodities of other nations on free trade prin
What is the true policy of this country? To sn>
courage and protect by all constitutional and Just
means its internal trade and industry; to promote
the division Of labor and the diversity of industrial
pursuits: to provide genial and profitable employ
ment as far as practicable, for the whole popula-
ton Let all the arts of production and eiViliza-
tons be cherished by discriminating patronage
Let the flame and smoke eff the smelling furnace De
seen rising from every hill and mountain side, and
from every valley where nature has stored her min
ersl wealth Let beautiful villages spring up along
the line of all railways, great and small and dot
aver ali the INTERIOR and in around all Of them let
the stately factory appear with its busy hum OF
looms and spindles; and hard by, the great works
sbops be found in which that sort Of machines are
made that produce the wealth Of England. Let the
draupbt stacks of the foundry diversity the scene,
and the stroke of the big forge hammer, reducing
the crude metal to the desired FORMS be heard; nor
let the decent sehool-house be forgotten; and hrs,
and above all, let the tall church spire ascend
pointing to heaven In word, let domestic lndns-
try and the manufacturing ar be encouraged ana
sustained, so that agriculture may ind It's surest
market at home and be relieved of the foreign de-
pendenee and fluctuations to which it is now sub
jected.
It would be impossible for Mr.. BELL to differ more
radically with the Democratic party than is shown
by these extracts.
The Democracy maintain that the recent monets-
~ revulsions, suspensions and failures, proceeded
solely from cur extrsvagant and vicious system of
paper currency and bank credits. Mr.. BELL main
tsins that this was every far from being at the root
of the evil, but that the great first cause is to be
found in the i-regulated unrestricted foreign com
MERGE" "Sir," said Mr.. B., it was free trade y
The Democracy maintain that these revulsions
must continue to occur at successive intervals SO
long as the amount of paper circulation, bank fa-
elities and discounts left to the discretion Of
fourteen hundred irresponsible banking institutions
: MT. DELL mdlubhlH6 IudI paper AaS SNPO7
rior advantages and conveniences over gold and
silver" that it is cheaper" and to the extent that
it takes the place Of gold and silver, that would
otherwise be required to be kept in circulation in any
community or country a medium of exchange,
it adds to the floating unfxed capital Ofthe
try" Mr.. BELL expects of course, to have the
sham dollar in circulation without the real dollar
representing it, that being added to the floating capt.
tai of the country.
The Democracy maintain that the Sub-Treasury
system has been eminently successful and only
needs to be applied to the States, and the currency
of the country reduced to constitutional standard,
to perfe,t our financial system. Mr.. BELL main>
tains that the Sub Treasury a failure and should
be abandoned and United States Bank establish
ed in its stead
The Democracy maintain that tariff simply for
revenue purposes and approaching as posi-
BILE to the principles of free trade is the only
of dealing Justly with all interests of the country
Mr. BELL maintains that high tariff which will
partially exclude foreign importatiOns, is essential
" necessary in order to build up home manufactures
at the North-and that though it is a tax upon La
Dor for the benefit of Capital-a tribute from the
South paid to the faithfuness of the NOrth-it is
/ necessary IN Oruef 10 keep uOWn the Dalance OF
trade that is now against us
The Democracy contend for equal rights and 3
simple government Mr.. BELL desires a hot bed
system that will build up the cities and towns lead
to the construction of factories and start the busy
hLy, of looms and spindles, with their hundreds of
Operaves dependent upon the lcrdly capitalists, all
tending Il the establishment of powerful govern
ment like England, with its dense population aAd
its starving minions-its magnificent palaces and
its dirty hOvels-is strong naval and military power
and its powerful peOple-its dense cities and their
homeless mendicAuts
This speech of Mr.. BELLS was circulated some
months since throughout the State. 1t has been
but little noticed by his party press-from what
cause we unable to say. 1t is in the main con-
sistent with himself and the party to which he be-
longs. We have appealed to the Banner and Patriot
to know how far they endorse it. They have failed
to answer. We appeal again.
We call attention to Persian story on our first
page, entitled ''The Fortunes of Abdallah."
| FEARFUL FLIGHT IN A BALLoON.-On the 10th, a,
Adrian, Mich, balloon ascension was made by
Messrs. Bannister and Thurston. The ascent and
descent were perfect success, landing near Riga