, 1874-03-14

Of llnul In tratlo; and, according to
tho philosophy Of ths rigid old homosp,,n, II
ths process continued. not only would tho banks
mil with ttIn[r papor OF llis hands hut stntva
tlon matt DO tho fate OF portion of tho people.
llo roao up and Bwnro with Ills {ayutllo uath
that he would soon mond nnnttora or 1nako them
wo!Eo md lin co'nniaaictl his faithful! Hocrotary
Ct tue Treasury, md his nntlor-scryanta Of tho
as money, called raYs hut to tako only asicl' as
ac,ator 13onton Ind full faith in, viz gold ant
silver III payment for The public lands; and Lliia
was tho spccie. Circular. Tho United States Danlt
l,onoiH, md II waa eponssng blood. :rl,s other
was blow Mt tho INTERPRETATIONS, anil MI ad-
1nonltion to tho stato banlEs Tint tho samo
doughty President Ind tlotollnined that
%.o wsa ,,.no t;Hy t shoua ses Their their
goro under this blow from Washington; Twas
lolt II MI parts Of tho land. md by NIL olaaseB
hut Michigan, Ind Ind n fur atart under !l,o
speculative regimo; nnt thny wore building fatr
YpHllanti, Ann Arbor, Jackson Marshall, Knla-
mnzoo. etc.; md before the st,lmpa wrro ont Of
their prominent stroots tl,oy lind substantial
large brick structures up for hotels. htoroa and
dwellings,. which atatltl to-ony aa proud mo1st,-
men.H Of Ct the energy Of tho tlmcs, when Jackson
- Tho Territory Of Michigan was admitted aa o
stato in 1877. It wnu
AN ExEs1pI.Any DEMOCRATIC STATE,
nnd nor reop!o meant to rc!cct y! tho HtronEoBt
light tha Holnd doctrines Of tho Democratic
party; @hov woro op1osol 10 nlononoliea md to
Nntloiiai Bank. and wore quite willing to swear
ny bontoas addandum.-specic c,',rcncM-nnl
also tile Down-lsast commercial Interpretation
Of the doclrno: free 6Gnhtag with roal:csnto
security Tho :diclliganders Ind plenty Of land
wh1ch tlloy llnd bought whon paper waa plenty,
but were worry poor geoso in matterH Of dollars
and halves mud Quarters; and, rinco hauk-blllH
would no. longer buy lands Of Government.
thoy Ind gone auddon1v back whence they had
como, and papor became as scarce as silver.
There !vna not currency onoueh In tho State to
move tho Bwamp-lat,ts. Under the licenRo Of
party fidelity they proceeded At to oglslato
for f., tho emergency. How prone ,pooplo are to
got hard upl They therefore, at Detroit,
through thoir representatives. proceeded to
cgelate into full Vitality tho essential doctrine
Of tho Democratic party: that banking
SHOULD NOT nEC0sfE A MONOPOLY
that nll people Ind innenablo rights to run a
bank, provided tlloy put up tho security; and
TINT land. being tho Burest OF all property. was
tho bost security that person proposing to
nanK couk! put up as guarantee to hll who
might hold tho BILLS Of tho bank that they should
should be made. Who could Btato principle
more logically than this And thoy passed
lnw, TINT my number OF poreonH combining to-
gethor 81 ansl 80, and ptodgng to the State cor.
tain amount OF roal estate, unincnmbere1. md
tim sion1d oninr Tia " nrivicna ~ iaan;nc Ii1io
Which should be- doomed and taken AZ n5onov
Which Hills should onIitio tI,e i,ol1ar to drnw
apccie from tho bank in redemption for tho
far tia enecia. Now ali thnt
was woak in tnia pyutom rvas the nossihi1;tv lint
the poo,,ie womld Ga foolish md r cni ror sneoio
whom thoy did not want it. and when it could do
Known. thsr VIVA fear that '@ n'irar s0I avan
m;ght nrv far n And hca;dns tharn w.a tn"t
nthar oGunliv nomncrat;c .loottr;nn Il snon"1 as
enrrency anf, tl,rt nnsaih,v n,ie1t onno n and
banking" And tl,romrh th;n oncn ] cate 1vhic1,
tl,c io"a,atora nj notr1t sot nnan ~ ,ro,,,,od
wifi, unrti I,;cI,ctv at;nG tl,nt 1oni,oa ,n IT,
old Jaokeon'a cujro1. 'o'''o N'f'
TIE WILDCATS CAME INTO .nou,aAy.
he o. e
HOal]and Conniy" 5fncnmh. :" HYi,aiinnt,,,
~ Rank Of Washtonnw u aT,olhn,n co,ntv - Wnri.tr
" Bank of Maran]l ;" uInckunn Il HEliorann
"Bandstonen NHnron. ;yo. H.. air cfc
secured tho wealth Of tho lands. yilci, could
not topart. was roprcsontcf1 In n curroncv wI,ich
tlcy called monny' and 10 ha ,,sod na tho ;nndn,n
Of trado. to raise crops and move crons. m to hmv
and sell morcIa,,diso With. Sc. Thev woro rond.
looking bills, md seemed aa much like monoy as
n grcol,bucj, Of 1S7l. How YER, yery nioo was nj ii
tbIu! The country was happy for thov had
money in rtoat abnndauco. Thu morcl,antH
bought largo stocks Of goods; tho storos woro
we'll filled Tho people borrowed the money Of
And money ,gas again ~ plopty as when Tin
worthy vo,nr mnn of tArni,oraE 1iaImraoa
DoloI,ertown, or the yenerahlo Tresidont
n,ade nonoy from the sst1mn Of a treo viii tia
stroke OF his pen. But tilno Aurrios up o.euts
most mnsvelo,lsly. Tho financial convutsiou,
which Jackson oithor NEEDED or made worse
cn1ne on unappoascd, till at Inst his successor,
Van Bnrct. when ho took the Presidency, found