the amount of 'the necessary circulating; me
■ diumnn-any country; you thereby double the.
nominal.price’of “every'article. •; If, when
the circulating medium is: fifty millions, an
article should cost-one dollar, it Would cost 1
two,’if, without arty, increase of tho nsea of
a citxiUatinejiLeilium,; the quantity ahortlcfj
be increased-to one hundred I
The would fifi.’prodpced, whether
.the circulating medium were specie, or con
vertible’ Sink paper Imnghjdwitlr specie.--
It is the increased quantity.df;the,niediuin,
■ not its character, which produces th|» effect.
Of course I leave out .of view irredeemable
bank paper. .
I dp nut pretend that, on questions of
political economy, rou.can attain mathemati
cal certainty. All you can accomplish is to
approach it ag *near as possible, ‘The prin
ciple which I havo atatedis sufficiently near
the,truth to answer my-present;purpose.—
From this principle, I drow-ari inference
that the extravagant amount pf'our circuln-'
ting medium, consisting, in'a great''degree,
of the notes thrown out upon the community'
Irreighthundrcd.bartks.was injuriouslnnrtr'
domestic manufactures.' In other words;;
. that extravagant banking and domestic in'an
nfactures are directly hostile to each^wther.
I did not .understand that the Senator-from
Massachusetts' -Daiis"] contested tljef
-general proposition that an increase in the
currency of any country, without any in
crease of the usca of a circulating medium,-
would, in the same.proportion, enhance the
price of-all tho productions of that.country
whose value was-not regulated by a.foreign
demand.. Ho could not hare contested this
principle. If he had; all history and allex
perience would have been arayed against him.
The discovery of the miqes of South Amer
- sca, and the consequent v'astjncreasc of the
' precious metals put into circulation in the
form of money, have greatly enhanced the
nominal price of all .property flironghou.t the
world. ; Indeed it is now a matter of curious
amusement, to contrast the low prices of all
articles three centuries ago, witli their pres
ent greatly advanced rates. The Bank of'
England recognises, ami constantly acts up
on this principle, though often without suc
cess. When "prices becomc ao high, in con
sequence of a redundancy of paper currency
and bank credits, that it is more profitable
to cxpnrt'the precious metals from the king
dom thgn its manufactures, this, bank cortr
stantly diminishes its loans, raises the rate
«f interest, and reduces its circulation, with
the avowed object of reducing prices to such
«i standardjis will render it more profitable
to export merchandise than bullion. It is in
this manner that the Bank seeks to. regulate,
the foreign exchanges.
But why need we resort to foreign nations
for illustrations-of tile truth of this position,
when it has been brought home to the actual
knowledge of every man within, this country.
Have-we notjiU (earned. by bitter experi
ence,'that when' our-periodical expansions
commence, the price of all property begins
to rise? It goes on increasing with the in
creasing expansion, until the bubble bursts;
■and then bank accomodations and bank is
sues .are contracted, the amount of the cur
rency is reduced, and prices fall to their
former level. ■ This is the history of our own
country, and we all know .it. A certain a
inonnt of currency is necessary to represent
the entire, exchangeable property of. a coun
try; and if this amount should be greatly in
creased, without a cotresponding increase
in the exchangeable productions of the coun
try, the only consequence would be a great
enhancement in nominal prices. I say nomi
nal; because this increased price will not
enable the man who receives it (o purchase
more real property or more of the neces
saries and luxuries of life than he could have
done before.
Let me now recur to the propo-ition with
which I commenced; and I repeat that I do
not pretend to mathematical accuracy in the
illustration which I shall present. The U.
States carry on a trade with Germany and
France; the former a hard money country,
and tlre.latter approaching it so nearly as to
. have no bank notes in circulation under the
denomination of five hundred francs, or
nearly one hundred dollars. On the con
' trary, the United States is emphatically a
paper money country,- having eight hundred
banks of issue; all of them emitting notes of
a denomination as low as five-dollars, and
most of them...one,two, and, three dollar
' notes. For every dollar of gold and silver
in the vaults of these banks, they issue three,
four, five. nnd some of tlicm as high as ten.
ami e vert fifteen, dollars of paper. This pro-’
duces a vast but ever changing expansion of
the currency; and a consequent increase of
the,prices of all articles, the value of which
is not regulated by the foreign demand.abovc
the prices of similar articles in Germany and
France. At particular'stnges of our expan-,
sipns, we might with justice, apply the prin ■
tuple which f have stated, to our trade With
these countries,- and -assert that, from the
great redundancy of our currency,.articles
are_ manufactureu : in France and Germany
Tor one-hair of theiractual cost in this couh
—iry.—Let me present an example. in Ger
many, where the currency is purely metallic,
and the cost of every thing- is reduced to a
hard money-standard, a piece of broadcloth
can“be manufactured for fifty dollars;-the,
manufacture of which, in our country, from
of our paper currency, would
cost one hundred dollars.; What ,is" the con
sequence? Thfe foreign Ereiic]h- or Germatt
'’manufacturer imports this .cloth into our
country, , and sells It for a hundred "dollars.-
. Does mot every person perceive’ that tire’ re
dundarj&y.of our. currency is.equal lb
mium of one' hundred per cent, in favor of
the foreign manufactures? No.tarm’of pfu
tection, unless it amounted to prohibition,
could counteract tills advantage.in favor-of
foreign manufactures. I -tb Heaven
. that 1 could arouse theattention of every man'
vfacturerofthepationtothia'liupOrtant subjet
our bank n.otes inpayment. Hewilltake
nothing hbraeexcept gold and silver,"dr bills
of exchange, whichare equivalent. He does
to support , his .family, and-jU*
’ his. labor and.irmterials ot-the.same
fateof prlcesAyliich.heVecpives for- his-irtari
litctures,. On, the .hbjitrary, he'g6e.s ; home,
, -pundiases fils- labor, Jiik.wool.aml all iother.
' articles which etjter into .his'.manufaeturey
• at half their cost-pi yliU-iounlnyt and-. again,
: returns to inundate us.with.fpl&jgnqybllenß,;
il pnd to ruin pur,domestic- maiftfajqtqjpfcj’-F
might cite many. other exairqijeß;' but>iiii,s, 1
truat. will be sugicieatta draw .'ppblic a'ttehr
- tiun .to. :the -subject. ' of
. our currency is,'- therefore;, equivalent to a
i. direct protection granted to thcforcign over
the domestic manufacturer. ,It is impossible
that qur manufacturers should _ bo abib to
; sustain such an unequal competition. .
Sir, I solemnly believe that if we,could
but reduce-thisinflated paperbubbleltp any
think like reasonable dimensions, New En
gland would become the most prosperous
manufacturing, country that the sun /ever
shoneppon." Why-ca'nnot yrc manufacture
goods,' and espe’cially cotton goods-, which
.will.go.’intbsuccessful comjtefitron with Brit
ish manufactures ih foreign markets? Have
we mif the necessary capital? Have we not
.the industry? -Have wo not the machinery?
And.above'alli are not our skill; energy, and
enterprise, proverbial throughout the World?
Land is also cheaper hcrcluanin any other
country oh the face of,the earth. ,We pos
sess every advantage which Providence can
bestow upon us for the manufacture of cot
ton; but (hey are all counteracted by the folly
of man. The raw material costs us less than'
it does the English, because this.is an article,
Vtieprice of which 'dcpeiida it pon foreign
markets, alidlsnot ’regulated by our-own
inflated currency. We; therefore,‘save the
freight of the cotton across the Atlantic, and
that of.the manufactured.article on its return
here. What is. the reason'that, with all
these advantages; and with the protective
duties; which our laws aftqjrd to the domestic
manufacturer of cotton, we cannot obtain ex
clusive possession of-the home marjte't, and
successfully contend fur the markets of the
world?' It is siniply- because we manufac
ture; attlie nominal prices of our own inflated
and are compelled to sell at thp
Veal prices of other nations. Reduce our
nominal to the real standard of prices
throughout the world, and you covet - - our
country with blessingsjspd benefits. I wish
to Heaven I could speak in a voice, loud
enough tobe heard throughout Netv England;
because,- if the attention of the manufacturers
could once be directed to the subject,-^their
own intelligence and native sagacity would
teach them how injuriously they are affected
by our bloated banking and credit, system;
and would enable them to apply the proper
corrective. , .J„ -
What is (ho reason that our manufacturers
have been able to sustain any sort of com
petition; even in the home market, with those
; of British); origin? It is England
herself is, to a groat extent, ti paper money ,
country, though, in this respect, not to be
compared with our own. From this very
cause, prices, in England are much higher
than they arc upon the continent. The ex-,
.pense of living is (here double what it costs
in Fiance. Hence, all the English who de
sire to nurse their fortunes by living cheaply,'
.cmigrate'freiTi "their own country to France,
or some other portion of the continent. The
Comparative low prices of France and Gcr-’
manyhave afforded such a stimulus to'their
manufactures, that they are now rapidly ex
tending themselves, and would obtain pos
session,- itr. no small degree, even of the
English homo market, if it were not for (heir
protecting duties. Whilst British manufac
tures are now languishing, those of (he con
tinent are springing into a healthy and vig
orous existence! .It, was but the other day
that I saw an extract from an English paper,
which stated (hat whilst the cutlery manu
factured in Germany was equal in quality
with the British, it was so reduced in price,
that the letter would have to abandon the
manufacture 'altogether.
, The Senator' from . Massachusetts, after
all our experience, doubts whether our cur
rency has been inflated beyond the proper
degree; and to prove that it has not been-, he
says that the rates of exchange upon Eng
land have often been below par. T(?is fact
does not fend to. prove (bat our paper cur
rency is not inflated at’home. Our foreign
exchanges are regulated by the specie stan
dard of the world, not by the amount of our
bant issues at home; and whether they are
above or below par, depends upon whether
we. are the debtor or the creditor nation.—
We ought always to be, and would always
be, the creditor nation, if it were not for our
extravagant speculations in foreign merchan
dise, produced by the redundancy of our
paper credits and circulation. Ourimmcnse
exports of cotton ought always to produce a
balance of trade in our favor; and ;yet this is
rarely the case. There Is generally a par
ticular period, however, in the progress of
each one of 6uf expansions findcbntvactionsf
when exchangejs_in_our-fa.v.or.-..This occurs
after our cotton and other exports have paid
The debt previously contracted to foreign
nations; and: before we have bad the time
and the ability to get fairly, under way jn a
new career of extravagant importations. To.
say that this'circumstance proves that our
paper currency is hot inflated, is an argu
ment which I cannot understand. It proves
nothing blit that Providence has provided
us aresource in,our vast produclioriTiT cot
ton, which enables us to repair the injuries
which.we suffer from our extravagant spec
ulations. It’does not.tbiich my argument to
show tlie pernicious influence which our ex
panded-currency
manufactures. —lf it were not for this cause,
exchanges would not only he occasionally,
but always, in our favor; and the Bank of
England could not exercise that controlling
influence' over' "bur banking institutions‘of
which tlie Senator from Kentucky so loudly
cproplaihs. .This influence is derived solely
from the fact that we are almost always tlie
debtor ( uplion, as we must ' continue to be,
until our tyild speculations shall be arrested.
■.ln'. addition to the, reason suggested why
foreign exchange lias sdhietimes been in our
favor, notwithstanding our extravagant im
portations,'lmiglit "add another which ,has
operated with vast powerduring the lart.twp’
or three years’." This is the iinmepaeamotaht
of money which Several of the Statps have
borrowed from'England withiir that'period.
This money constituted a fund on'which,bills'
wefe drawn .torn, large amount,. and conse
quently reduced the rate of exchange. . 'The
paymentof theinterest un this debt, particu
larly as (ye shall, probably hot soon increase
the.principal, will operate hereafter in a con
trary direction, anil will tend to raise, not
reduce, the rate'6f our foreign exchanges. ~ ,
v,;Bdt : Kentucky[Mr.
■.CtAYj leayqs uiilurned. -He says
: that the frienn» onhe luilepen(lbntTreasury
dcsi^.toestabliahahexclusivetiietalliircur.-
■ uf the, poor! lKaTthe rich ijpi-.
;plby,eruVay.!beu^
1 aiti, lower lldehy Vf&qitei
rectness ofthese proppsitiopy; ahd,;in ;
(he first place, : I for one, am’ndtinfavdi'bf
establishing an exclusive nie taUJc.,cucrepcy
for the people of this country, v’l-dpai re tot
see' the banks greatly reduced in number;
and wouldidf "1 could, confine their accom--
modntiuns tp'-speh, loans qr discounts, for
limited periods,
tUring, and trading classes of tlio cOmmUhi
ty, as the ordinary course of thcHribasincsa
might render.-rieceasary.'.; ! nabeJ-Kislv (o'
see farmers and .mechaiucß andvpwifcltsjonal
mien tempted, by the . facility .of. Obbtirudg
bank loansfor long peripds.lto
owii ptoperand uacful
a,nd rush into wild. andVxtrayagant specula
tion. I would, if l'.could. ryadically.'ireform
the present so aa tq confine
it withlrhsuch limits, as .to-.piwvteii&fttture
suspensions of specie
'exceptions, I ..would instantly. - deprive each
and evdry bank' of its. charter,\svhich should
agairl suspend. Establish these or v :S\inilar
reforms, and give uV a real'specie basis for'
our paper .circulation, by.inci-easing the de
nomination of, baiik botes first to ten; and
afterwards tp -twenty I dollars;;and r".shnll
tlien be flie friend, not the enemy of .banks.
I know that the existence of banks anil the
circulation of bank paper arc so inderrfifietl
with ,tlie liabitß.of-.our pcople-,.that they can
not be abolishedreven if tiiis were desirable.
Tp reform, and not to destroy, is my-iflotto.
To confine them to thelc appiopriaterbusi
ness, and prevcnWliem frpm ministering to
the'spirit of wild and feckless speculation,
by extravagant loans and issues, is of I..which
ought to be desired. But this 1 shall say.—-
If experienceislinuld prove it to be Impossi
ble’to cnjiiy the facilities which wpll.rpgtila-1
ted banks would afford, without', a’C tlVc same"
time, continuing to suffeV the evils which the
wild excesses of . the present banks have
hitherto entailed upon the country, then I
should cpnsiderit the lesser evil tp.abolish
them altogether. If the State Legislatures
shall now. do their duty, I do not believe,that
it will over become necessary to-decide.on
.such an alternative.
Wo'are also charged by the Senator from
Kentucky with a desire .to reduce the wages
of the pour jnan’aJabor. We have been of
ten termed agrarians On our Side of the
House. It is something hew undeHhesun,
to hear the Senator and his friends attribute
to us a desire to elevate (he wealthy manu
facturer, at the, expense of.the laboving mau
and the mechanic. From my soul, I r.espdcf
the laboring man. Labor is the foundation
of the wealth of every country; and.the free
laborers of the North deserve respect,' -both
for their probity and their intelligence.—
Heaven forbid that I should do them wrong!
Of all the countries on the earth, we ought
to have thfc most consideration for the labor
ing man! From the very nature of our in
stitutions, the wheeTo'f-fortuncis constantly
revolving and producing such mutations in
property, that the wealthy man'of to-day
may become the poor laborer of to-mbrrow.
Truly wealth often takes to itself wingS'and
flies away. A large fortune rarely lasts be
yond the third generation, even if it endure
so long. We must all know instanccs_of
individuals obliged ,Jo labor for their daily
bread, whose grandfathers were men of for
tune. . The regular process of society would
almost seem to consist of the efforts of one
.class to'dissipate the fortunes which they
have inherited, whilst another class, by their
industry and economy, are regularly rising
to wealth. We have all, therefore, a com-'
inon .interest, as it is our common duty, to
protect the rights of the laboring man;, and
if I believed for a moment that the bill would
prove injurious to him, it should meet my
unqualified opposition. '
Although this bill will not have as great
an influence as I could'desire, yet, as far as
it goes, it will benefit the laboring man ns
much, and probably more,,.than any other
class of society. What is it he ought most
to desire?. Constant employment,-regular
wages, and uniform reasonable prfcesTor (he
necessaries and comforts of life which he re
quires. Now, sir, What.has beep his condi
tion under our system of expansions and
contractions? He has suffered mdre by them
than any other class of society. The; rate
of his wages is fixed and known; and they
are the last to rise with., the increasing'ex
pansion, and the first to fall when the cor
responding revulsion occUrg. He still con
tinues to receive his dollar per day, whilst
the price of every article which he consumes
is fapidlytrising;_ He is at.length mad.OP.
feel that;-although he nominally' eal'ns' as
much, or even more than he did formally,
yet, Trom thelncreased pricedf'all the" ne
cessaries of life, he cannot support his family.
Hence the strikes.for higher wages,-and the
uneasy and excited feelings which ' have'at
different periods, existed among the laboring
classes. But the expansion at length reaches
the exploding point, and what does the la
boring.man now suffer? He is fur a.season
Thrown nut ot' employment altogether. Our"
manufactures are suspended; our public
works art stopped; our private enterprises
of different kinds are abandoned; and, whilst
others are "able to weather the storm, he can
scarcely procure the means of baresubsistence-
Again, sir: who, do you suppose, held the
greater part of the worthless paper of the one
hundred and sixty-five broken..hanks. fo ■
which I have referredf Certainly it was not
the,keen and wary , speculator, who snuffs
danger from afar; If you were to make the:
search, you" would find more broken; batik
motes in the cottages of the laboring poorthan
any where else, And these miserable'shin
plasters, where are they? After the’ revul
sion of 1837, laborers were glad to obtain,
employment on any terms; and";they often
received it upon the express condition that
they^should,accept, this .worthless- trash'ih
payment. Sir, an .entire suppressiun of all
bank notes bf:a lower denomination than the
value of one Week’s ..wages of the-laboring
man is absolutely , necessary for. his. protec
tion. He ought alwavs to receive his'wages
in gold and.sdvcr, Ofhjl m.enon theearth,
the laborer is most sr
sound and stable currency; - f ''
" All other circuuistaneea being cqualr.-l
agree with Kefitunky.that
that country is most pfosperuhs whefe lab.or!
commands the highest wages.. I.dp not, how- ■
ever, mean by the terms. "highest,wages,*’
the greatest nominal amount. During - the
war, one day’s wqrk,' cotn-
hundred'
pet; bnt-this wbultl
a breakfast. , The more prppci;'.expcessioik
would be,;tD‘ say . that,.tb'at.^uD,titr^jB*;^dgt<'
'prosperous where labor.coiniilaiidkijh(f
;est rcwar.l; where- nne
.cure not the greatest noirtinal'amnußtSoX a
depreciated currency; but most of :tlie nec
essaries and- comforts of life. If," therefore,
you should, in some degree, reduce .the nomi
nal’price paid’Tor labor, by reducing thorp
mount of your bank issues' witbin-rcaponabje
and safe limits', an’d establishing’a metallic
basis foriyour paper
injure the laborer? Certainly not; because
the price of all the necessaries and comforts
of life fere reduced in the same proportion,’
rind he will bp able to purchase more of them
for one"dollar in a sound state of the cur-,
feocy, than-hpcould'bnve done,’'in’ the days
of extravagant expansion, for a dollar and a’
quarter; jSo farfrom injuring, it-wiil greatly
benefit the laboring man. It will insure ’.to
him cojistantcmployinent and regular prices,
paid in a sound, c’urrehcy, which, of all things,
tie ought.most.’to desire; and it.will.save linn
from being involved in ruin by a recurrence
of those periodical expansions and cpritrpc
tinns of the Currency,’which have hitherto
convulsed tbe'couhtiwV . • ’
This sound state of the currency will have
another upon the laboring
man. He will receive bis wages in gold and
silver; and this will-induce him 'to lay up;
for future use, such a portion of.them as lie
can spare, after satisfying his immediate
wants. This be/will r nqt doi at present, be
cause he knows not whether the trash which
be ir now compelled" to receive as money;
will continue to be of.nny value : a‘week or a T
month hereafter. A.knowledge of this fact
tends to banish economy from his dwelling,
and induces him.to-expend all his wages as
rapidly as possible, lest they may become
wdrthfess on his hands. ’ ’. ._
, Sir; the laboring classes Understand ’this
subject perfectly. Ills the hard-handed and
firm-fisted men of the, country op Whom' we
must rely in the day of danger, who are the
most friendly to the passage of this bill. It
is (hey who are the mostardently in favor,of
infusing.into, the currency of the.country a
very large amount of the precious'metals.
• 'i'he Senator has advanced another position
in which lam sorry 1 cannot agree with him.
It is this: that a permanent high rate of in
terest is indicative of the prosperity of any
country. Now, sir, a permanent high rate
of interest is. conclusive evidencc.of a scar
city of capital,and is indicative of any thing
hut prosperity. I think, therefore, it will
pu'/.7.1c hiin, with all his ingenuity, to cstab
jish.hja proposition. To render a country
iruly prosperous, capital*and-labor must he
so combined,ns each to receive a fair reward.
In England, when the rate of interest was
Very high, the country was not-at all in a
flourishing condition; but as capital gradu
ally accumulated, and the rate of interest
consequently sunk, she became more and
more prosperous, though she did not reach
her highest elevation until money yielded
considerably less than live per cent. But
this subject is so little relevant to tile ques
tion under discussion, that it is scarcely
hee’essary to pursue it. If it were, it would
be easy to. show that a high rate of intciest,
generally, if not universally, enters into di
rect conflict with the wages of labor, which
the Senator is so anxious to maintain. Sup
pose, for example, that it required a capital
of 820,000 to put and to preserve an iron
manufactory in successful operation. In one
country the interest on this sum at tan per
cent.pvould amount to 82,000, whilst in an
other it could be procured at four per 'cent,
or 8800. The difference, would be 81,200;
and, unless this amount can be saved cither
by a reduction in the wages of labor, or in
some other manner, the manufacturer -who
pays the higher rate of interest cannot endure
the competition. A high rate of interest al
most always presses upon the wages of labor.
If the gentleman’s theory be correct, Wall
street must be a perfect paradise of prosperi
ty. There, the rate of interest for a long
time lias been permanently high, varying
between two ami four per cent, n month, or
between twenty-four and forty-eight per
cent, per annum. Post notes of the Bank
of the United States have been. discounteVl
freely.at two per cent, per month. With
these facts before him, Mr. Jeffery would
not now declare, ,as .the Senator inlonps us
be formerly did, “that this country was the
heaven of the poor man and the hell of the
rich.” He might probably reverse the po
sition, though it would be equally extrava
gant one way as the oilier 1 . A country in
which a rich man can realize from Twenty
four to forty-eight per cent, for his money,
'would';certainly be nny thing but a place of
torment for hitm —But what is'the condition
of a poor man in such a country? When
capital commands"bUclr an extravagant hP"
terest to liquidate commercial debts, it will
no longer be used in the employment of la
bor; and hence poor men must necessarily,
be thrown out of employment. Such a con
dition is any thing bu taheaven for them.
The Senator exclaiink with holy horror,
"the Stuarts are still upon the thrnne, and
RharleB“the“Se'conil - has srrececdetl'Charles
the First.” He has, 1 think, been very un
fortunate in this historical allusion, if be.in
tended to'compare our Andrew with thc.first
Charles. The enemies of Charles cut off
his head, -whilst - our—Andrew,. politically
speaking cut the heads off. all his enemies;
and. many of them Were in such terror of
■him, that.they dreaded he might turn, the
metaphor into a reality, and cut off their
heads in earnest.' Charles the Second did
nut.succeed Charlcs'thu First, My Lord
Protector intervened Although he and the
Senator from Kentucky are as different in
other respects as two able and brave, men
can be, yef whilst he was speaking, it struck
me that there was one striking point of re
semblance between - tlvem; Anil what, sir.
do you think that, was? My Lord Protec
tor always-began; arid ended‘every thing as
the Senator has begun and ended’his speech
-r-u>ich prayer. Then in regard to the'sec
ond Charles, I. have- litt|e to say. . Of all
men, the Senator ought to bejhejast todis
parage ouri Martini; - l.hrive read of a great
conquered Griuccal, who always-pronounced
his conqueror .to be a ..very .able and brave
mart,' becausel as the historian observes, it
would.hatfe lessened the merits of the .van
quished to have been overcome by. a fobhor..
’k'i«ipward^The^e)iafor4 T in-i ; Bpeakirig-of
Martin, oughtrather ; to exclaim, .
: . ‘MSfoatJetme cwfhim,.fpfAe-<m^oem3'ine.”
If id qddition, the little magician shriuld
j)e the; hero of .Tippecanoe,
fought thbanpimrich-
Aye .ft*M. • faiiU that-such
will -be- ,tKe. ream t,Thqo h.e wi 11 ; go. do.vyn-tq (
pOßteriy,.withall :^ , hiBblUshingliunorB tfiiclc
upmidiim.” f f' : ' 1 ‘
« ’Thanking the’Seriate for their patient at
tention, I shajlynpw yeaumo. my rieaf; •
AMERICAN VOLUNTEER.
CARLISLE:
TIUIItSDAY, MAKCH.S, ISM,
otrn FJLJta. •
••Now our flag is (Umg to-tlie wilil wind free,
Let it .float o’er our ‘father land,’.’
And the 'guard of Its spotless fame'shall be.,
Columbia's choa'en band!"
FOR PHF.SIDKNT IN 1840.
MARTIN VAN BUHEN,,
■ ■ V AND AN.
INDEPENDENT TREASURE.
NOTICE.
Those interested are hereby notified, that the bills
duo this catahlielmicnt for snAra ip/Von’, ddvertmng
smS’job-work. Will be made opt'between this and
the Ist of April, when those indebted will.’.bc ex
pected t 6 liquidate their accounts either with the
cash dr promissory notes. In the meantime, those
Who can conveniently, will confer a favor by call
ing at the office and’settUng their accounts. , !
Subscribers at a distance can remit ’’through
the mail, in current bank notes, at .our risk, the re
ceipt whereof shall ho acknowledged in the paper.
We this week conclude Mr. Buchanan's admi
rable speech on tho independent Treasury!! ill, and
again ask for it ah attentive perusal. Its great
length should deter no one from reading it, as any
tiling comingfrom that gifted statesman must am
ply repay for the time spent in its perusal.'
That portion of the speech given in to-day’s pa
per, embraces Mr. B’s remarks on the subject Of
the wages of labor. This part lias hcqit grossly
misrepresented by some of the federal presses; blit
an attentive, perusal must satisfy every unpreju
diced mind that his remarks, instead of taking
ground “openly and unequivocally against the
poor man,” , ns has been charged, are intended to
show that the passage of tlio Independent Trea
sury Bill will bo a lasting benefit to the labofihg
man;
Now that wo arc done with tho speech, wo shall
bo again able to r.csumo our usual variety.
, An extensive’revival of religion baa been’going
on. for several weeks, in several of tho churches of
this Ijorough. The work commenced in th.o Metli
odist.clinrcb, from whence it has extended to the
Prcsbyteiian, Lutheran and German Reformed
congregations. Already, wo understand, about
100 hare been added to tho first montiohod church,
and the excitement is still progressing. ~
At a military election held in Mechamcshtirg,
on the 22d uit., for officers of the 2d Battalion of
Cumberland Volunteers, Capt. John Ciendenik,
of HoguestoWn, was elected-Lieut. Colonol, and
Capt. Jacob Dorsheimer, of Mechanicsburg, Ma
jor--
The Democratic State Convention, for liomina-
tingan Electoral ticket and appointing delegatee to
tho National Convention,assembled at Harrisburg
on yesterday. We shall be able to give a synop
sis of their proceedings in our next.
Mr. Buchanan has introduced to the Senate a
resolution to raise a select committee, to enquire
into the expediency of amending tho constitution,
so as to prohibit the issue or circulation of any
bank note of a less denomination than 520. The
resolution was adopted.
Precautionary Movements The New Bruns
wick (British Colonial) Legislature' have passed
an a t authorizing tho Governor and Council to
embody a force of 1200 men, to march out of the
Province if necossary.
Flour Six thousand barrels of dour were sold
at Philadelphia, on Tnesday,pt S 5 pcr barrel—
tho greater part for Liverpool.
Ex-Ghyernor Mason, of Michigan, has.bcen ar
rested on a charge of libel. So says theßaltimorc
■Sun. .
The New Jeksev CXse.—-ThG“l)road seal 1 ’
claimants baVirgono home. to hunt up testimony to
sustain their pretensions, and the House of Repre
sentatives is still engaged in the discussion of the
question, to. the exclusion of almost every gthor
kind of business. That our readers may under
stand the State of the question at present, wo clip
the following from, the Baltimore Sun (a neutral
paper) which, presents the whole case in a nut
shell:
—“On. the SOth-ofJanuarJvor about that day,-tho.
subjcct of lho election was referred to die commit
tee on elections, composed of four whies and four
democrats, with Gen’l. John Campbell, of South
Carolina, as chairman*. : _
The committee took possession of the books and
papers iri-relation to thc case—They considered
and ro-consldcred the subject till sometime about
the middle of February, without perceiving the
possibility of arriving at any direct conclusion.—
In the mean time the claimants for seats,' who are
known by tho appellation of-Po'nningtdn men, ask*-'
ed and obtained leave of the committece to go home
and absent themselves, till the Ist of April, to take
evidence touching the case. On granting this
•leave, the committee bn elections stood ayes 4,
noes 4, and Gen. Campbell, the chairman, voted
in the affirmative. As soon ns this decision was
made known at tho Capitol, tho'friends of the ad
ministration tookalarra,-because it was ascertain
ed that the evidence sough t, was'to be taken; un
der a. prcapec(ice law_not yet passed, bnt.whichis
yet to be debated and passed by the legislature of
N. Jersey. Tri this stale of the affair;-Mr. - Camp--
bell made an explanatory speech to the House, in.
which he stated that the committee of.elections
were of opinion that .Uie democrats from New Jer-.
eey, who claimed seats,;and-not the Pennington
men, possessed a majority of all the ybtes oftlie
people of New Jeisey; Mr. Campbell, by con
sent,'gbt a resolution before ilie] House, proposing
to prin t certain.documents. As -soon as this adroit
mantEuvrc had been accomplished, Mr. Oave John
son, of Tennessee, moved that the committee be
instructed to report “forthwith’!,which of,the iwq
aeta7«ffrtP!rtraiaUve9Te(»ihhi)
electoral votes of N. Jersey.; .. .I.;
’ On this propositiqnTho 4ah a, . e t now going qn!
commenced, and hasheen persisfed jh,; with una--
bated pcrtinacity by bbth aides. ’ It - is .the object
qt the. Whigs to, keefftha debate up, for tho pur
pose of allowing tho Pennington men-to have all
the time
object of the democrats to bringit to a speedy.
eluaorUimi compel the comntiUeeto report the feet,
that thkwtemoeratii) claiirtartU.'ffbk.'NbirßwßfX'
possess a majotity of the N ow J eracyauffrages.—-
That eommittoe ’v^F^qrtThat fact ab”sbqn as it
is called to.doso: and the, irtomeht if is reported,
the resolution of Mr.. Campbell, as amended by
Mr. Johnson, will bo again amended,.so as to bring
the- House to a direct vote on the admissionof tho
democratic memberaib their Scats. Tho result of
that vote, you aro aware, as well bs any body else,
under the present condition of the Houaemf Rep
resentatives, will bo in favor of tho domocratio -
members. ; Whether this will he right of - wrdng,
it is_npt for me to decide; .! only stale the fact, that'
a majority,of the : House of Representatives will
vote for their adinissibn, right or wrbhg. It is my
opinion, that the .matter-will bo settled before to- ■
morrow nigKt; -pnd. it may bo as well to add, that’
tho dccision.wiil jbo arrived at, oxclusively on-po-,
litical .ground's—withou.t* any direct- teforenooeto
the actibh'dt the conunlitdo.on.cleciions. I state
these facts for thobenefitpf with
out disfmptlon of pdrfy.-fbr theij-inibfma!(ion; apd
as it cmbracid’linfbrination that I tliej‘ nerer would,
arrive at'frbnt tlie every day reports of Oppgresa,,
if they rbadfliera'tcnjtnbnihs at a time, and with .
forty pair# bf specs bn their noses, I hope all of
them will thank m,cj and not suppbse that lam pc
tuatod. by any political Tpelinga or considerations..
Call me- any-thing you please—apply to me any
cpithotcf scorn'apd contempt that yop plcftSe, ara,
if you do not call mo a political writer or a parti
zan, I shall bo Satisfied/’] : —-
P. S.Sincn the above was in typ(',’weleai-ii:.
from tho Baltimore Republican that tho resolution .
offered by Mr. Johnson; instructing-thc Committee
on Rlbctions to report which of the two sets of
claimants ftom 'New Jersey received -a {najpnty of
votes, was adopted'on Friday evening last, by the,
casting veto of .tho Speaker., The report will: .
doubtless bo made in a day or two, and will up- ,
questionably bo favorable tolhe democratic claim
ants. ...
Tlio federal papers tell na that “tho popularity
of Gen. Harrison is sweeping over the whole
Great West like a tornado.” But we should judge
from the following resolution, adopted at a federal
•meeting held in Kentucky T on
the 3d ult., thalthc “tornado” hud not yet reached
that particular quarter:
That we are unwilling to-subimtin
silence to-tho outrage committed against the'Whigs
of this Stat<vhy the nomination of Gen. Harrison
as the candidate for the Presidency, at the sacrifice
of HenVy Clay, the man whom Kcntuolcians de
light to honor; and that however much wo desire
the ascendency of Whig principles, we will at all
times express our disapprobationof political chi- .
canery-and injustice.”
But if the above is not sufficient to open the eyes*
of somo of the credulous followers of old Tippe
canoe, to the true state of public opinion as it re
gards the popularity of his nomination in the West,
wo herewith subjoin a fe.w msre evidences of feel
ing on the subject, taken from papers in the Bast
and South'. It is a real “Shower Bath” for the
Fpdcralist? and must lower their feather* amazing-
ly-. „
Here it is:—
-The Columbus Enquirer* (fod.) says:)
‘‘Should the contest eventually he between Gen.
Harrison and Mr. Van we be forced to
choose, we have no hesitation in saying that wo
will.sustain the latter/.’
The Augusta Chronicle* (fed.) says:
- “Desirous as we haVrbecn to support the oppo
sing candidate to Mr. Van Buren, we canm t go
for Harrison,—and we think it time and -labor
spent in vain to attempt to elect him.”
T..c Jjus!di\ Daily Advocate, (fed.) ‘says: (i
We confess we have some' curiosity to learn
which rif tho members of the delegation from this
State, eun claim the honor of having giveh the vote
of tho State for a candidate [Gen. Harrison] who
we arc well assured is far from being tho choice
of the State.”
The Acid Orleans True J}mtriean, (Ted.) saJ'S;
“Henry Clay had thousands of devoted friends
—Harrison has hut a few simpbrterfu Wo wisll>
ed the whig cause success, out cahnot hope for ii
now;”
■ J l'he Philadelphia Sentinel, (fed.)-says:.. -
“Dissatisfaction was loudly expressed bymahy
of the leading whigs jn this nuatter* on receiving
the nmVs of tub hbmjhplicn ot Gen’l. Harri Son hy
the Harrisburg Convention, and threats of resisting'
it were freely niadfci”
The Jhn, John S-. Jjarbotir , £nc cf the most dis
tinguished whigs in Virgirila, Hascortienut, “tnotlu
and nail,” agaihst the Hafrisbiirg nomination;
The Itichfnorid JZngutfcr &sys'. , r
“W« havb seen several members of the general
assembly who have just returtied to their emu titq-.
enls, We understand that many wings have pre
tested hgalnst the nomination, and that .several of
them havA already abandoned the whig banner;.—
Thenj will be no serious contest in Virginia,”
James Clarke, Esq., late Canal Commissioner*
it is rumored is appointed President of tlio Union
Canal Company, at a salary of $2OOO per plinunu
The Old Game. —.Tlio Federalists profess to be
confident that Gen. Harrison will be elected Pre
sident in November next. Can any of them tell
ns at what nU'Clicn,'since the days of ol I John
Adams, the.same party have not stoutly maintain
rd that tlicir candidate would bo elected? and at
what election during that Whole period of forty
years, has their candidate received a majority of
electoral votesj or of tho suffrages of the people.
State Legislature.
-fcetterto tho Editors; dated: . ,
• - “IlAnnisnuno, February 39,1810.
In Senate the Resumption blit Was discussed
from Monday, till _Thursday,cn\vliich.dnyit pass-.
cd by a vote of 16 to 11—two democratic and four '
federal. Senators being absent. The following; is
the list of yfeas and hays'on its passage: ' . ,
- Yeas.— Messrs. Bell, Brown,..Caldwell, : Cop-
K, Fleming, Fraily, (Scb.) H?ys, Miller, (Ad-.,
s) Millor v (Berks) Myers, Patterson, Plumer,
Shortz, Snyder, Sterigere, Rogers,’Speaker. ? :
Nays.—Messrs. Brooke, Cochran, Kwjng,Fra
ley, (City) Killingcr, Penrose, Purviance(Spack-.
man, Slorrett, Strohm,;Williams.
T’ho.bill provides for immediaie.rtsumpiwn*— .
This was.an amendment offered by_Mr, Sterigere,:
and’prevailed by a vote 0f33 to 7.. ■ ‘ •
.In the- House,..tliQßank/hill-wasdiscnssed-du
ring the week. Various amendmcntswerc offered
and rejected—arid a number of sections wore pass
ed generally by a vote of 59 to 33.
.On Wednesday, in the Senate, Mr. Fleming,
from the Judiciary Committee, reported & bill to
repeal the act chartering the Bank of the U. States.
The act. establishing the now Criminal Court ,iri
the city of Philadelphlai hah passed both houses
and'received! the signature of the Governor. .Three
Judgcs.will have to Reappointed forthwith fdrth'at
station.,-Georgo'W. Barton, Esq. is spoken of as'
likely to bo one Of them.
So you perncivelthat, with'iho oxcpptioh of lhc>
passage ti thei.'Kesuinpiidn Bill’ in khij, Senate* L -
thingslinkin'pretty much iriiigiu jtyit.V.TUs
ijuesdbn;of ißjumpticin will come up again lit,thp -.-
HoUßanoxt.Week, and I think will be finally
posed.of. '., : ■"v' 1 -’?-';' “ i ..
; Much other business of a local nature has becit,
disposed of duringtho week, hot hot of.sufficient
importanco to render a detail necessary. ‘ . . •
. r i : Yours,'*:C.. '