ÆäÀÌÁö À̹ÌÁö
PDF
ePub

tailed upon mankind, by the oppressive and unfeeling hand of capital, should so fall from the dignity of manhood, as to prostitute such fine talents as he possessed, for the purpose of inducing the working classes to lend their deliberate aid in establishing and perpetuating one of the greatest and most dangerous "monopolies of capital" perhaps in the world, and which, he well knew, must eventually bring about those very consequences he, apparently, so feelingly deprecates. But, such is the overwhelming influence of capital, that its arrogant claims must be vindicated at all hazards, Justice, religion, and morality, must be sacrificed, that a few may possess all the riches-all the ease-all the comfort-all the enjoyment; and the toiling millions must be kept in hopeless dependence, and, finally, starved to death.

If we have a "National Bank," no one would deny the danger of its existence, if its political views should be antagonistical to those of government; and, on the other hand, if they should happen to be both united against the views of the people, the danger would be still greater;so that, whether it be the friend or enemy of government, it is alike to be dreaded; nor could real patriotism, under any consideration, tolerate its existence. But if the people will have one, in order to preserve consistency, they ought to abolish all other departments of government. This is one of the great questions incumbent on "National Reformers" to settle. They should continually bear in mind, that, when orthodox political economists, stump speakers, or legislators, generally, speak of the prosperity of a country, mean the ease, certainty, and rapidity with which property passes from the hands of those who produce it into the coffers of those who produce nothing, but claim the right to own all things. And the facilities to trade and business, mean all those cunning contrivances, invented by the cupidity and avarice of the "business community," for the express purpose of producing such results: "satiety on the one hand-starvation on the other."

The working classes may well rejoice that the "monster" pauper-making machine is no more-is "obsolete;" and the small fry may be taken in detail much easier now, than when protected by the gigantic power of the maternal "monster."

In addition to all that has been said on this subject, we

would refer the reader to Madison's Journal of the Federa Convention. He will find that it was intended by that body, that the federal government should not have the power of making paper money, or of circulating bills of credit. At page 1343, vol. 3, will be found the following record:

"Mr. Gouverneur Morris moved to strike out and emit bills on the credit of the United States.' If the United States had credit, such bills would be unnecessary; if they had not, unjust and useless. Mr. Butler seconds the motion.

"Mr. Madison. Will it not be sufficient to prohibit the making of them a tender? This will remove the temptation to emit them with unjust views. And promissory notes, in that shape, may, in some emergencies, be best.

"Mr. G. Morris. Striking out the words will leave room still for notes of a responsible minister, which will do all the good without the mischief. The moneyed interest will oppose the plan of government, if paper emissions be not prohibited.

"Mr. Gorham was for striking out without inserting any prohibition. If the words stand, they may suggest and lead to the

measure.

"Mr. Mason had doubts on the subject. Congress, he thought, would not have the power, unless it were expressed. Though he had a mortal hatred to paper money, yet, as he could not foresee all emergencies, he was unwilling to tie the hands of the Legislature. He observed that the late war could not have been carried on, had such a prohibition existed.

66

Mr. Gorham. The power, as far as it will be necessary, or safe, is involved in that of borrowing.

"Mr. Mercer was a friend of paper money, though, in the present state and temper of America, he should neither propose nor approve of such a measure. He was, consequently, opposed to a prohibition of it altogether. It will stamp suspicion on the government, to deny it a discretion on this point. It was impolitic, also, to excite the opposition of all those who were friends to paper money. The people of property would be sure to be on the side of the plan, and it was impolitic to purchase their further attachment with the loss of the opposite class of citizens.

"Mr. Ellsworth thought this a favorable moment to shut and bar the door against paper money. The mischiefs of the various experiments which had been made, were now fresh in the public mind, and had excited the disgust of all the respectable part of America. By withholding the power from the new government, more friends of influence would be gained to it than by almost anything else. Paper money can in no case be necessary. Give the government

credit, and other resources will offer. The power may do harm, never good.

"Mr. Randolph, notwithstanding his antipathy to paper money! could not agree to strike out the words, as he could not foresee all the occasions that might arise.

"Mr. Wilson. It will have a most salutary influence on the credit of the United States, to remove the possibility of paper moThis expedient can never succeed while its mischiefs are remembered. And so long as it can be resorted to, it will be a bar to other resources.

ney.

[ocr errors]

“Mr. Butler remarked, that paper was a legal tender in no country Frope. He was urgent for disarming the government of such a power.

"Mr. Mason was still averse to tying the hands of the Legislature altogether. If there was no example in Europe, as just remarked, it might be observed, on the other side, that there was none in which the government was restrained on this head.

"Mr. Read thought the words, if not struck out, would be as alarming as the mark of the Beast in the Revelation.

"Mr. Langdon had rather reject the whole plan than retain the three words, and emit bills.'

6

"On motion for striking out-New Hampshire, Massachusetts, Connecticut, Pennsylvania, Delaware, Virginia, North Carolina, South Carolina, Georgia, voted aye-9. New Jersey and Maryland, no-2. [So the words were stricken out.]

"The clause for borrowing money was agreed to, nem. con.”

The index which refers to the above passage, reads thus:

"Currency. The pretext for one of paper cut off...........1346.2

29

The above vote, if taken individually instead of by States, would have stood thus:-Ayes 30, Noes 7-a majority of over five-sevenths.

From the foregoing evidence, it is perfectly clear that the framers of the Constitution fully intended that no such "vagrant" power, as that of circulating bills of credit, or paper money, should exist in the country; consequently, the States are positively prohibited from using it. To prohibit the United States government was not necessary, it having no right to assume powers not expressly granted by the States or people: being cssentially a government of delegated powers only. The assumption that the General Government can endow others—either individuals or corporations-with powers it does not possess itself, is per

fectly ridiculous. Such a power has never yet been delegated to the General Government. The 10th Article of Amendments to the Constitution reads thus: "The powers not delegated to the States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people." Will any man, in the face of this evidence, have the hardihood to contend for either the justness or constitutionality of a bank charter? Surely

not.

CHAPTER XVI.

A PROTECTIVE TARIFF-PRELIMINARY OBSERVATIONS.

THERE is a very pernicious error prevalent among the American people, the consequences of which ought not to be overlooked by the National Reformer; and that is, in placing too much confidence in the truth of the doctrines, declarations and opinions, advocated by our representatives in our legislative halls, merely because they have the reputation of being great statesmen, or because they belong to this or that political party. Now, this is evidently wrong, and often leads to delusion. For it is notorious to all, that many of our most distinguished and talented statesmen have been on diametrically opposite sides of the various prominent political questions that come before them for discussion at different times. Now, it is not possible that either the nature of truth or justice can change; but the pursuits and interests of men may, and do: and are all that can or do change. This view, then, of the subject, dissipates the apparent mystery. We should look upon a representative precisely as we do upon a lawyer going into court for the sole object of defending the cause of his client, be he right or wrong; such being his sworn duty.

It is precisely so with a legislator: he goes to fight the battle-advocate and maintain the interests of those that send him for this is he sent. Neither is it wrong; for when the mass of the people become sufficiently intelligent themselves to know the right, with sufficient firmness to demand it, the right will be accomplished-must be; but, till then, cannot be.

At one period of his life, we see an eminent statesman, when representing the pure mercantile interests of the New England States, eloquently discoursing upon the beauty and advantages of free trade and foreign intercourse of the injustice of giving power to a small portion of community to tax the greater, by legislative means; ind, therefore, a high tariff, on the ground or pretext of protection, or for any other purpose than the support of

« ÀÌÀü°è¼Ó »