Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1859-02-23
digpoged Of the causes assigned BY DemOcratio

The next reason urged, which seems not to
have been without its influence, is that our peo'
pie were too extravagant, lived in costly houses,
bought costly furniture, kept luxurious tables,
drove fast horses, and finally built too many
rniIroads-admit that all this was done, pray.
to know, how that could have produced national
distress, that would have affected the financial
affairs Of England, France, Austrian Holland,
Prussia, Denmark, Sweden, and Russia, and all
the rest Of the commercial world.
Suppose man comes suddenly to an estate OF
of million, and he builds costly houses, furnishes
them extravaganty-pays high prices for last
horses-keepsa an extravagant table-lives great
ly beyond his income, and finally runs through
his whole estate, by extravngance, dissipation
and ganbng4this will certainly occasion lndi'
vidual and family distress; but how the nation
can be injured by the accumulation of n million
being distributed among the bricklayers, carpen-
tiers, plastcrers paper hangers, butchers, oa-
kers merchants breeders of fast horses, or gamb-
lers all of whom spend it again, is far beyond
my comprehension.
In like manner in regard to the construction
of railroads. We have received from California
some six or seven hundred millions of gold in
the last twelve years. Now, suppose that has
all been laid out in railroads. they have certainly
served to open up the countrY-develoP its re-
sources-increaSe its productlons-turnlsh the
way to market, and have increased the value OF
the lands greatly beyond their cost-and al
though the stakeholder may not receive divi-
dend on his stock, and may be great sufferer
and loser, yet neither the work, nor the money
that built it has been thrown away. Subscrlp-
tons to these stocks may have ruined those who
built the roads, and occGsloned individual and
family distress vet they would not produce q
great national disturbance, for the money has
only gone out of the pocket OF one man,
who had it before, into the pockets of many
that were without it. 1t has gone from the
stockholders to the contractor; :and from the
contractor to his laborers and manufacturers;
and from them, throughtheir operatives, to the
butchers, bakers, merchants, grocers, boot and
shoemnkers, hatters, farmers, &c, &C.; and has
thus been scattered through the general CONF
munity-by which the multitude are benefited,
although the few may be impoverished; and the
more that is spent by the millionaires of the
country, in this way, the better for the whole.
But, when, instead of digging your own coal,
and making your own iron, and giving employ
ment to your own labor, you leave 1t idle and
improbable, and you send $500 900 of the
seven, out of the country, to be laid out IN the
iron and other manufactures Of Europe, never
to be returned, then you send out what ought
to be kept at home, thus you improverish the
nation.
You have first, financial experiment, in
the form of what is called Sub-treasury,
which, If put into actual operation. rs intended
and provided for by those who framed 1t, would
display its ridiculous and deGormed features in
it out of existcnce but which, violated us it is,
and is obliged to be every day and every hour,
is new-Ganged invention, devised by those
who were opposed to all banks, and PROPOSED to
have no other currency but that of precious
metals-the operation of which, as now acted on,
is to collect the revenue of the country, amount
ing as it has done, to from sixty to seventy mil
lions of dollars TO be locked up in strong box,
and never taken out, except for the purpose Of
defraying the expenses of the government; and
being paid out to those who had dealings with
the government, about as fast as it is paid in,
at the Custom houses. This $70,000,0O is not
only withdrawn from the channels of trade, in
which il might be safely and protitably employ
ed, but is kept going round and round in con-
slant circle, by paying in and paying out-un-
seen and unfelt, unknown as far as Its benefits
arc concerned to those who are engaged in COM
mercial. manufacturing, agricultural, or other
industrial pursuits, and had for all purposes, eX-
cept those of the government itself, as well be
lying buried in the bowels of the earth in Cali
fornia. rs in the Sub treasury At Washington or
New York. The contractor who has the good
fortune to be n favorite with the government, the
members of Congress who have appropriated to
themselves $4,000, for nine months service, or
rather for nine months neglect of the public in
tereSts,-the Judges, members Of the Cabinet
President clerks, and other officials OF the gov
ernment who have certain fixed pay at all
seasons and amid all canmities, are interested
any more benefit from it than if it had been left
undug in the mountains, unwashed from the
streams of California. Whilst that same amount
of $4,000. 900, properly employed in the chan
nels of trade and forming basis for substan.
tal and indispensable paper circulation, and yet
answering all the purposes Of the government,
would give new life. fresh impulse, and mascu-
line vigor to business of every kind, that would
make every individual in the country who was
willing and able to work, contented, prosperous
and happy, especially when brought in connec-
ton with judicious commercial system, which
shall next consider.
Great efforts have been made to involve in
mystery, and treat as one of the occult sciences
what is termed political economy" Learned
writers and closet theorists have pretended to
investigate the subject with degree ofprofun.
dity beyond the reach Of common understand
ings and our unfortunate country has been
subjected to the control of class of statesmen,
or Of persons occupying the positions which
statesmen only ought TO fill-who distegarding
the example and admonition Of our most en-
lightened men, commencing with Washington
aud those to whom we are indebted for the
constitution under which we live, and coming
down to within the last few years when the
country could boast OF a Clay, Webster and
an Adams, shutting their eyes TO the light of
their own observation and experience, have
Pertinaciously insisted upon having this gov