Newspaper of Burlington Free Press, August 17, 1838, Page 2

ft FRIDAY M O II N I N , A U 0 U S T 17. For Governor, SISAS 22. JjESNXSOST. ZV ii'eut. G?oi)cor, DA VXD Effl. CAlVZP. JV 'Weasurer, HEHH7 P. JANES. S12NAT0US POIl CHITTENDEN COUNTV JOHN N.l'OMEROY, .TOSEril CLARK. FOR GRAND ISLE COUNTV. .TOUIj allkn. For Congress. TO THE FREBMBN OP THE 4TI1 DISTRICT. The approaching election opcn9 at n period never surpassed in interest nnd im portancc. The desolating career of Jack- sonism its violations of the Constitution I its thorough corruptions its destruction of our cherished systems of policy its attacks on all the institutions of the Government its plunder of tho Treasury its war upon public morals, tho Currency, the Judicinry, nnd Congress, have, at length, reached their natural termination in the reign of tho "follower in the footsteps," whose insidious and unprincipled counsels so largely c 'I'l.h.u to pr .-'tico thcrn. 'I'm co-ordui.i'p brunches ot the (.ioverntnent ot the foot of tho Excculivo. and r.l the BOtirccs of influence under hit command, ic only required I he exclusive control of tho public money in his own hands and those of his hirelings, to complete the circle of executive power, and to make it independent of, and stronger than, the people. From the "Treasury Hank" re commended in 1 829, to the present moment, this consummation was the end and aim of the present and last administrations, and has been pursued with a perfect reckless ness of means, and to the destruction of the business nnd prosperity of the country. Tho people have at length boon compelled to look for redemption through "the yawn ing chasms of their ruin." Men have bro ken the strong ties of party association. County afior county, city after city, and 6tato after 6tate, have abandoned the ndministration ; and strengthened by the force of tho people, tho strong arms of Webster and Clay have, at two sessions of Congress laid tho Sub-Treusury Mon 6tcr in tho dust. Sanguine men arc ready, ot once, to conclude that their business, nnd our free institutions arc already rescued from tho malignant influence of their worst enemies. But, fellow citizens, let it bo remembered, that the administration have tho forces of loco fncoism, party organization, patronage, offices, money, nnd a corrupt and licentious press. Let it be remembered that the President, regard, less of the thousand expressions of public Eentimcnt, persists in tho Sub-Trcasurv Echcme, reminding one of Richard's des peration : Slaves ! I have ilirown my fate upon n cast t Anil I must Eland t lie hazard of the die. Lot it be remembered, that our democratic President persists in it, after announcing in his September message, that the "peo ple's will is tho supremo law of tho Rcpub Jic!" thai the public lands arc offered to be surrendered to the new stntes, to pro pitiate western support and the sacred right of petition, Creek, Cherokee and Seminolo lauds the annexation of Texas, and the ruin of the north by continued confusion of tho currency and exchanges, conccdcJ to the great nullificr, to gain the south, by appeals to its hat red and cupidity. That the commerce and agriculture, the manufactures and navigation of the north are to bo sacrificed or permanently do pressed, and its only compensation is to be money and offices, post-masterships, cus torn house appointments, break water and gut agencies, showered upon our little and big demagogues. The object ol tho ad ministration is, to convert our republican government into an elective despotism practically irresponsible to tho people and llion, how easy is tho transition to undis guised monarchy ! but men of tho north ! you arc to be the victims ! Tho destruction of your liberties is to be effected by the Bacrifico of your vital interests. And when you consider their possession of all the immense ,:owcrs and influence of govern rnont for nearlv thrfn vears to come, who will say, there is not si ill danger ? THE HURIS. The nvi'iiiin' s;ar ha.- io-li., "lnilcVriinT our whole ptl.tical hemisphere with beauty of iu promise wiso r5'l b! ii '1 navigators will nevertheless, notice and watch tho speck in tho sky "not bigger thou a man's hand." it is in the power of iho Whigs, to rcstoro tho country to pros pcrity and peace, to reestablish the balance of constitutional powers, to put down tho measures principles and men of'this corrupt administration to rescue their country from tho moral and political chaos of Jack con Van Burcnistn, and to secure her a long career of freedom and glory. Ho firm then, united and active ! Above all, re. member that if tho Sub-Treasury is to bo defeated if the currency and business of tho country arc tu bo permanently restored if tho Treasury is to bo rescued from plunder if Florida wars, costing $20,000, 000, and Chorokco removals, which would disgrace Algiers, oro to cease if the expenditures of tho Government arc to bo reduced if tho organized assaults ol 100, 000 office holders on tho freedom of elec tions arc to bo put down if Congress nnd tho Judiciary nro to bo restored to their first authority in our republican system if the march of Executive power is to bo stayedif tho desolating career of loco focoism, threatening law, order, and the institutions of tho country, is to bo arrested and tho principles and existence of free government vindicated and maintained it must ho by PURIFYING CONGRESS AND KEEPING IT PURE. Our high. est obligations nnd our dearest interests arc trifled with, if wo do not place thoroi men, true, able, firm and inseparably at tached to those principles which Vermont has so long maintained, through evil report and good report, with a gallantry and steadiness which have won tho respect and admiration of her si'ter states. If such men must he sustained in ordinary limes, how much ir. Lsenlial is it note .' The decisive bitltp between the PEOPLE, and an administration which insolently pro claims its independence of them, and claims to bo their masters, is yet to be fought and the next Congress will bo tho battle ground. Vermont did her duty at Ren nington ! Let her sons do it now, on nn occasion not less momentous, and a field not. less important ! And, fellow citizens, is not II EM AN ALLEN such a man ? Pronounce, for he has lived in the midst of you forty years. You know his private life and his public course Congress. It has always sustained your interests and represented your principles lie is not a political trimmer, has not mount ml hobbies, has not joined and quitted all pa:tics ''every thing by turns and nothing long" to catch at every popular breeze and to take '.ho wind out of better men's sails but steady, firm, conscientious, and sincere, you always know where to find him, andean implicitly trust him. Besides, Mr. Allen is n most valuable mombcr.- Ho belongs to the class unfortunately a small one of working mkn in Congress, of which Whitlcsy is nt tho head; dcyot ing to his duty on committees and to all public measures and questions tho same conscientiousness and laborious attention that ho gives to all tho private claims of his constituents. A single instance it 1033, an immense class of claims from Vir ginia, which Mr. Allen believed to be un founded, was urged upon Congress, nnd in spite of his opposition, carried to the amount of half a million. Multitudes of the same character poured in, and by his able and strenuous exertions on the floor of Coiv gross, a largo portion of them wero defeat cd, and the rest suspended in 1831. The contest was renewed at the last session; and a final decision obtained by which more than five millions wore saved to the Ircasu ry, and the people. Day after day, he conducted the discussion, single handed, aainst a host of able men. The result was due exclusively to his perseverance and ability : and yet this great public ser vice was emblazoned in no newspaper, nnd though appreciated in Congress, is almost unknown to his constituents. And yet it is sometimes objected to Mr. Allen that he does not display his talents often in speech making. He is nn able, argumentative, and impressive, speaker whenever speaking would be useful. It is objected that ho has been some six or seven yours in Con gress, as though his familiarity with pub lic affairs, the character ho has acquired, and the experience he has gained, did not enable him to be doubly useful. But those who urge this, remind one of tho hoir who thinks it very wrong that his undo wont die so that no can navo mo larm. it is mado a ma'.tcr of complaint against him that ho voted for the Canada bill. Now what aro tho facts? Tho neutrality act of Gen. Washington's administration pnssed in 1704, forbid the fitting out of expeditions fram our ports against other nations, and prevented this country being involved in the wars of tho French revolution. It merely enforced an ncknowlod principle of tho law of nations V eculions took place under it in Jcfi' ic . ii a time. It has boon continued and approved by every adminis tration. But tho act omitted lo provide for land crptdilions, because it was then sup posed to bo unnecessary. Tho Canada outbreak occurred, the President asked, and Mr. Allen voted for, a hill extending a recognized principle of national law to a set of circumstances precisely identical in character, yet requiring to bo specially provided for. Should it bo unlawful to at tack Halifax by sea and latcfid to attack St. Johni by landi Tho President requir ed and nnd approved this bill, and, by the way, allows Uritish eoldiora to enter our territory iu pursuit of Johnson nnd bis fol lowers, and yet his adherents condemn Mr. Allen's vote. But if cny of his old political friends think ho has missed fire in this in stance, will thoy throw tho old rifle aside, or "peck the flint nnd try it again ?" Again it is objected that Mr Allen is not n Frank lin county man, and Mr. Smith is nn nrgu. mcnt, tho weight of which cannot bo in creased or diminished by discussion, And for Hctnan Allen such as you know him the Van Burcn convention gravely ask you to substitute tho HON. JOHN SMITH, of whom also you havo some knowledge. A similar invitation two years ago you do clinod by some 1250 majority. Mr. Smith is a man of good morals in private life re spectable talents and a very clever lawyer. Ho has tho distinction of having belonged to more parlies than any man on the con tinentNational Republican, Antimasont Whig, Abolitionist, Jackson, Van Duron, Democratic, and lastly, Canadian Patriot. He would have joined more if more there had been as tho weather would bo hot tor if tho thermometer were longer. He possesses tho extraordinary faculty of be longing to three or four parties ot tho same time, as a skillful rider in the circus rides threo or four horses at once. Ho can maintain both sides of any political qucs.. lion, and satisfy a friend and opponent of his orthodoxy by the tamo argument. - Catechised by a committee of the Van Burcn Convention, he satisfied them, and his strongest friend in St. Albans proclaim ed him, a few dajs after, as good a Whig as any in the district. It is hard that a gentleman so marvclously accommodating should fail to receive universal support--but so it is; ho is a natural born Van Burcn man, but too Van Burenish ; a disciple of the school of political morals, founded by Martin Van Burcn, he regards honesty os too precious an article to be wa'tcd on pol itics, and the perplo too stupid lo dis cern, to appreciate, or reward il. Fellow citizens, can personal address or local feel ing, or temporary excitement, induce any Whig to sustain John Smith nt a Cnisis t.iKK this ? Is hU doctrine true, that trimming beartlessness and trcachary to principle and duty is n passport to office, and the broad road to tho people's confi dence ? Is your confidence to be given lo such a vascillating politician at anv time ? Again, remember that republican govern ment is practically an agency, and the pen pie's agents must be trustworthy, or evil cannot bo remedied or good promoted and their will and interests will bo tram pled under foot, as for ten years past. I.n conclusion. The Whig patriots and champions aro at their posts, on the ram- parts of tho Constitution, with tho broad banner of Reform waving over their heads. Strengthen them by your suppurt, and con. tinuo them at their posts. Let not Ver mont flinch in tho moment of a glorious victory, after campaigns of reverse, and years of gloom. Go to the polls for once, every man; and let your spirit and union be as deep and thorough as the wrongs of this abused country. When the bill for erecting the new state house nt .Monipelicr was iniioiluced, Mr Suiiih laboured to prevent iis passage. No plan was fisod upon in the bill and no dt finale sum set ns ihe tihnnaiiiin nf.cxpcnc. It provided for n i-nuimillee In make liauglil lor inc Innding ami ilnccinl the com- ineurf men! of the unik necoidiitg to the mo Idle die committee ,-lioulil lin ui.-h, A n c.-ilni.ilo it is true wns pie.-en'cd in ihe legislure fixing iho probable expense at 30,000 of liirh ilonipelier was to pay ono mil! null ihe slate Ihe oilier. Mr smim excited all his iiifluctire and used ciery argument he was master of lo persuade ihe legisliituic to postpone tlu nie.isuie iinlil nnullier Near an. I lie warned ihe house thai if ihev pioeeuled with I lie project ciiihlv ihuii-uuil dollain ol ihe people's money would lie expended hefoie it would be com- nleieil. lie failed, ihe bill ti-isst il. anil one bun dled and leu thousand dollars has been laNcn fiuui 1 1 1 o porKels of ihe in, my lo guiiify the piopeueilies of the few. Lamoille Express, So Mr. Smith voted against the bill for erecting the state house, did he ! nnd prob ably from Iho same motives of policy that some of his old Federal associates in 101 1 voted in favor of tho war, but against the supplies to carry it on. Burlington, it will be recollected, offered to erect tho state houso free of expense to t lie state; but Mr. Smith, by his vole and his influence, denied us (ho privilege and fixed the loci tion nt Montpolicr, where ho and every other man of sense know it would cost money untold to build 6uch an edifice as would do honor to tho slate. The very money required to prepares a e'hc would have built a rcspcctablo house either at Burlington or St. Albans. But no, says Mr. Smith dig a hole into the hill at Mont, putter, and build the houso there. But marvellous consistency! characteristic of ihe man having fixed tho location and imposed the burden, ho then begins to look about for a retreat, nnd lo, behold! ho votes against tho bill to do the very thing ho had just decided by his own vote should be done. And now, with brazen impu dence claims as n merit an act of contempt, blc shuflliiig, which an honorable man would blush to own. Ono word moro in rofcrenco lo Mr. Smith and the Stato Houso. It ju doubt less recollected by our readers that tho legislature in the first instanco left tho question of location open, to he determined with roferoncc to tho liberality of tho competitor sections. Tho towns wore invited to bid, under tho implied pledge that the most liberal proposition should be accepted. Tho result was that two towns only entered the list. Montpolicr offered $515,000 Burlington pledged $10,000, and offered to build tho house to the acceptance of the stato. But no, Mr. John Smith, who at that tunc stood nt tho head of a powerful party in the stale, cntorcd the field against us, rallied his men, madu it a parly question, and by dint of drilling nnd exertion, defeated tho just claims of this district, of this county, and tho town of Burlington in particular, to an important local benefit; while by the same operation ho saddled tho slnto with tho enormous cxpcndituro of ONE HUNDRED AND TEN OR TWENTY THOUSAND DOLLARS, merely to gratily a mean, narrow-minded, groen-cyed jealousy of a neighboring town or county of every thing that is not his own. And yet, this same individual now comes before tho freemen of this district for their suffrages; and--impudcnco unparalleled liia organ undertakes to condole with the people about tho gt 10,000, which, in spito of Mr. Smith! "has been taken from tho pockets of tho many to gratify the propensities of the few" a few such men as John Smith. What say yc, men of Chittenden, Franklin, Orleans and the Islands ? will you reward such treachery? is such, n fit man to represent you ? Are your interests safe in such hands ? Can such a man represent n whole district? Judo yo ; and as truth and conscience dictate, so pronounce PRINCIPLES. The Whig are furrqu.il rights in nil thing3. They hold lhal the will of iho majority must gov ern lh.it public offices should be distiibuteil for iho good of iho people, and not for iho benefit of ofliee holdcis. I'liey aro opposed to all .;ti tial and tiiicrjii.il legMalion, which li .is a tendency to benefit the lew anil injtiie the many. They aic opposed lo nil monopolies, ulicichv individual an; made ncher.and ihe public poo.er. Th-y nro in Citor j of economy in public expenililuies, both state am national. I liey aie nlaimctl nt the enormous in crease in the expcines ol the geneial goicrnmeni, shire General Jackson came into power; un incicnsc from less ihan ihiriccn millions, to over lliirlj -two millions of dollars annually, anil the' aro determined not to relax their efibtte, until l lie same is leticiichcd and rcl'oimed. The whig aie in favor of a sound cuircncy, composed of both specie, and paper; the Inlter," nt all limes In be conierlabln into specie at the will of the bolder. 'I'hev aic in favor of the credit system, wheieby l lie honest, industrious, nnd capable poor man, may Flam! on a let el with the rich, and cmb nk in any honorable and profitable business, with no capital but inlegrity and c.ipacily with n benefit to him self, and safely to those with whom he deals. They aie opposed to placing all the public moneys which belong lo Ihe people in the hands of the President, or in ihe hinds of ofikeis appointed by iho I'icsident, lobe used bv them for election ceiing purposes, giving the Executiie ihe whole conliol of the finances ol I tie couutiy, nnd virtually uniting the pin so anil llie sw ord in the hands of one man ; coiifripiently iliey were, and are opposed to ihoSub-Ticasurv liill. These, fellow citizens tire the principles which! the wliigs openly avow and which govern iheir i conduct and t heir voles. Uur motto is, Equal Ilighia to all men.llcnninglon County Whig. We find the following in the Franklin Messenger : A CAItD. The Freemen of l'rnuklin County nro hereby giien to understand, lliat I decline standing us a candidate lor the ollico ol bounty isenalor. ily reasons for so doing are, that 1 am no luugor a sup porter of Mr. Van Uureu, or his meusuies. Timothy Foster, Sivnnlon, Aug. 13, 1S3S, Wo rc-publish iho above card as an act of justice to an honorable man, who thus shows that his love of principle is greater than his love office. Wo hnvo many such, and havo never doubted that they loved their country, and would eventually come out for it. But Mr. Foster, and all like him, who dare to act openly, will be abused. It has been thus with Mr. Tallmadgc, and others. But they will rccoivu tho approhn. lion which they so well merit. Such men arc the salt of the land, and will save it from corruption. We beg our neighbors to husband thoir equanimity, as they will have largo draughts upon it before election is over. Tho Sentinel, wo observe is resorting to the stale artifice of manufacturing public sentiment, with rcferenco to tho Congres sional election; and having dressed up one of its men of straw in the guise ol a friend Iu Mr, Briggs, has located him at Rich mond for tho purpose of abusing our Hun tington correspondent. But tho day has gone by for such trickery. No ono will be decicvod by it, nnd the Sentinel will fail in its paltry attempt to enkindle nny local jealousy or ill will among the whigs by such a course. Our Huntington corrcsnondent is a veritable man, of flesh nnd blood aye, anil of soul too God's noblest work, nn honest man. And if tho Sentinel, or onv of its scribblers, choose to break n lance with James Johns, our word for it, the "Huntington BardM6hall write his epitaph. Tho scavenger who fills Iho columns of tho Sontinol, asserts that tho Frco Press is cditod and controlled by an individual other than tho ono whoso namo stands connected with il This ho knows to bo false as il is moan and calumnious. Our press and types aro our own ; and that wo uso Ihoni in our own way, wo had supposed, and still believe, tho public havo sufficient evidence Lest, howover, any person should bo deceived by Iho falsehoods of tho Sontinol, wo ogain repoal, whatovor ar poars in our editorial columns is our own, and that communications aro admitted or rejected, as to us individually, scotneth moot and prop er. Novor, except in a very few instances, when absonco or sickness rendered it necessa ry, has any individual contributed an editorial article for our columns. Wo challenge friend or foo to gainsay it. Can tho Sentinel say as much ? Why, ovory man in the county knows that, from its youth upward, that paper has been a notorious political bawd,--its editorial columns wide open to every individual who choso for Iho tirno being to occupy thorn. ID Thitfact was but recently established btj "ore a court of justice in this town, in tho settlement of Mr. Bailey's estate. And yet, forsooth, tho Scninti would fain read its neighbor a lecturo on chastity ! Excellent ! ! Wo had supposed that when Mr. Van Ness left this country, the system of cspion ago over our movements was discontinued. But wo wore mistaken. It 6till exists, and the pimp who now stands sentry informs mo puunc sioop clown u Heavens! give car, O earth! -that, our devil, in tho broad light of day, as more than ono wit ness can testify, actually carried a proof 6hcel to "a lawyer's office near tho Post office !" The public will doubtless bo very much shocked to hear this. But wo can not deny tho fact. Even while wo arc penning this paragraph our devil is again out upon a similar errand ; and wo will tako tho present occasion lo notify the Sentinel that so long as our correspondent A. B. continues his numbers on imprison, inent for debt, ho may expect to witness a similar outrage weekly. Inasmuch, however, os wo arc under constructive bonds to keep tho peace, the Sentinel will hardly find it advisable to keep so close a watch, and its informer general will doubt less return to his old vocation. So we shall lock our hen roost. IMPRISONMENT FOR DEBT. NO. IV. One nf the leading objects of govern ment, is to encourage industry. Industry, Trurrality, intelligence, and virtue, are the four pillars on which our government is established. Their union is the perfection of republicanism, and when cither fails, the progress of dissolution has commenced. Industry is promo'cd by the rapidity with which tho products of industry arc circu lated; and credit as an instrument of this circulation, has an important bearing on our prosperity. This is an abstruse sub jeet, difficult of explanation ; but I crave the reader's patience while I endeavor lo discuss it in the simplest way possible. Property may be divided into three kinds, land, fixtures, and stock. Land needs no definition. By fixtures I mean all crec Hons on land, such as houses, barns, shops, manufactories, and whatever is attached to them, as machinery &c. By stock, I mean all the products of industry, whether in its gross state os it comes from tho farm, as cattle, wool, &c, or in its more finished condition from the shops of Ihe manufacto ry, as cabinet ware, cloth, iron, plate, &c. It will be seen there is a difference in the nature and character of these three kinds, nnd as I think a marked difference in Iho policy that should bo pursued relative to them. Tlic two first are fixed in tlici nature, nnd so far as stale policy is con corned, they should ho continued in the same hands and not subject to change. Government should throw no ob-taeles in the way of their transfer, but no additional inducements should be offered to make them objects of general merchandise. It may be laid down as a political axiom that credit lion lit never bo employed in tho purchase of land or in the erection of fixtures. I am ware that this will be denied by some, but I think it can bo made apparent, though 1 havo not tune to go into it, but it rests oi the certainly that after the farm ispurchas ed or the manufactory erected there will be still as groat a call for credit as prudence can ever justify. Stock ditTors in character from the other two, being of a transitory nature, The products ofinductry, the avails of the farm, the shop and tho manufactory are legitimate objects of purchase and sale, and each branch is prospered in proportion to the rapidity of the circulation' In this point of view credit as an instrument of cnminjrcc, a means of circulation, is of tho utmost im portance and should be encouraged. The mndo nnd Iho manner ot it deserves a little examination. Take a case, tho farmers of Chittenden county raise ono hundred Ihou sand dollars worth of wool, the Brndloys buy all this wool, they sell it to Paine, Cat lin, and other manufacturers, they manu facture it into cloth worth two hundred thousand dollars, I hey sell tho cloth to the wholesale merchants, these sell it to the retailors, those to tho tailors, who again double its value, and they in the shape ol clothes sell the wholo to the consumers. Tho same mav ho said nf tho iron oflvecso villo, and il may bo followed through vari ous changes from Iho oro and coal to ploughs, axes, nails and penknives. Bill the Bradleys have not the hundred thousand dollars to pay for the wool, I hoy borrow it of tho Bank nnd pay tho farmers, and thoy pay their laborers. Bradleys sell tho wool lo Poino, Cntlin and others, but they not having such nn amount lying idle ivo their notes at three nionlhs.ond with Iho product of those notes Bradleys Inko up their own notes, nnd so Iho process is continuod'until it reaches the consumer. On tho principle that I havo stated in n previous nrtlclo tho consumer should nlwnys pay down. In this way a constant circulation i9 kept up, nnd ihe monev oventunlly paid by tho consum ers pays all the intermediate notes nnd n fuir profit to all concerned. Tho amount I of specie required is the groes amount of the valuo of tho articles in tho bands of tho consumers, nnd honco wo havo n rulo by which lo cstnnnto the nmount of nil tho specie, necessary to form ihebasisof all tho business in tho country, the gross nmount of nil the products of industry iu any given year in tho bonds oftho consumers. Tho transmutations nnd changes from tho raw article irom mo tarm or the mino to its fin. ished state ore difforont nccortling to tho nnturo of tho nrticlo. but may bo said on nn average to bo throe, and if po iho specio should bear tho proportion of nno to threo to tho whole nmount of the credits. Theso credits nro the currency. I think the pro portion between tho currency and specie ia as throe to one. Tho basis of thoso sever al credits ia tho property at all times con-, vcrtiblo into cash in tho hands of the debtor, thus tho Banks trust the Bradleys because they know thoy arc skilful men nnd will have nn equal amount In wool, convertible into cash, nnd so in nil iho other singes of tho circulation. It is then this property that is trusted, and not Iho bodies of tho Ilradlcys, and this property alono should bo holden for payment, and not their ueclesa bodies. Bradleys from their ability may obtain credit independent of Iho wool, but that makes nothing against tho principle, for slill it is property that i3 trusted. Any man can get a credit who lias an established character for integrity, when from his intel ligence and skill it is believed tho money will bo prudently invested in stock convert ible into cash. This is the secret of our prosperity, it is this which has caused our lato unexampled success, and it is tho want of this that has broken up this circulation and brought dismay and ruin upon us. Il will he readily seen that according to tho rapidity of this circulation will bo tho incitement to industry. As manufactures abound, the more tho purchasers of wool and other articles from the farm will in crease, and consequently, tho greatest inducements will bo held out to tho farmers for vigorous exertion, and active enterprise. An increase in any one branch of business naturally aids in tho increase of others. Uy increasing manufactures tho number of operatives is increased, and a greater demand for provisions, clothing, mechani cal arts, &c, anil the whole round of in vestment and labor enlarged, nnd tho general prosperity increased. If all tho intermediate purchases were to be made for specie only paid in hand, an amount equal lo about four limes the valuo of tho articles in the hands of tho consu. mors would be required. This is an un natural state of things, and must bo pro ductive of a loss equal to the interest on tho whole amount, beyond the actual valuo of the products of industry. Money is but tho representative of value, tho measure of the value of tliuir products, and any in crease beyond tends to decrease the nctual value of these products. Wealth may aptly enough be said to consist in the ability to purchase the pro ducts of industry. In this point of view credit is wealth, and a healthy credit should bo tho care of government, one of its chief objects as a means of producing general prosperity; but this credit to ho sound, must be based upon property. Any foun dation other than this brings into action a fictitious credit, and the consequence is overtrading, and the end poverty nnd bankruptcy. The whole rogo of credits that aro made upon tho basis of men's bodies, is injurious, injurious lo the creditor by its losses and the false system of busi ness, injurious to tho debtor by its expenses, loss of time, bad habits, and destruction of manly independence, injurious to the public by lowering the lone of feeling, creating a distinction of classes, nnd diminishing tho etfoctive power of the nation. A. B. COMMUNICATION. In my communication of last week I touched upon the subject of confidence in our fellow citizens and had I the power of presenting this matter in such form as to arrest attention I should think that I was doing the public a service. I will not at tempt to say how much I feel on this point, but this I urn compelled to say, that the tono of public discussion not as conciliatory as it chould be. Motive-1 are impenched, and si ill wo oro bound to believe that the great mass of individuals nro pure in their mo. lives, and patriotic in Iheir intentions. I i hank God thai I havo not a doubt of it. I would confide my honor, my prospcrty and my ponce to the keeping of my countrymen. Private charncler is assailed and yet the individuals who do it arc conscious of tho wrong t hey do and atincipa'o condemna tion. Il is certain that honorable men will shun tho authors of detraction as disturb ers oft he peace. The difierencos of opinion honestly entertained aro sufficiently great to excite anxious attention. Let these dif ferences be examined and discussed in a spirit of moderation and forbearance, and if wo cannot convince others ofthoir mis takes, wo sha'l at least escape condemna tion for harshness of manner and an un compromising temper. Among theso differences, there is ono that has divided the American public ever since the formation of the government, and is still full of intere.-l ant! pregnant with consequences, r7te danger lo which thepolit. ical power of the people is exposed by tho concentration of it in the Executive. Tho lovu of power, if not natural, finds a ready resting place in the breast, the ambitions cherish it, and ho is truly a great man whom the exercise of it does not corrupt. Power is prolific of its kind, and they who feel its influence ore prone In uso it in the production of more. Hence in all ages the great problem hus been to find checks against its abuse. If in other countries where tho ihrono is considered ns the foun tain of power men havo taxed their inven tions lo find these checks, how much moro' anxious should wo bu with our views of tho origin and object of power. To understand ihis subject in all ils bearings it may not be improper to remarki that political li'beriy seems not to be under, stood by tho world nt large. It is unknown1 in any country hut ours, or nt least is not practically enjoyed by tho people. It has' its foundation in tho principle that all men' nro equal, that power eminales from Iho people and is n trust to bo exercised forS Iheir benefit. It consists in tho right of tho people to establish that primary law the constitution, and in their control over all public functionaries by tho right of suf. rngc. In a government thus lormed, based on euch principles, iho concentration of