Farmers' gazette, and Cheraw advertiser. (Cheraw, S.C.) 1839-1843, July 08, 1840, Image 1
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VOLUME V
BKe 8?4.&t>,m4!.&>
EDITOR A NO PROPRIETOR.
TERMS:
'r**a Viin Uimb months. . . $3 qq
| I |I41V4 m?Mi? wmm ?- r Wr~
it paid within three months after the
eloae ofthe year, 3 50
If paid within twelve months after lite
lose of the year, 4 00
If not paid within that time, ... 500
Two new subscribers will be entitled to the
paper the first year for five dollar*, paid at the
time of subscribing, and five new subscribers
for ten dollar* paid st the time of.subscribing.
No paper to be discontinued but at the option
f the editor till arrearages are paid.
^lvertiseinents not exceeding sixteen lines,
inserted for one dollar the first time, and fifty
cents, each subsequent ins irtion.
Persons sending in advertisements are rcques.
tou .o specify the number of times they aro to be
inserted; otherwise they will be continued till
ordered out, and charged accordingly.
Z^ The Postage must be paid on all commanications.
.
- ~ GRASSES.
It is & subject of constant remark that
m our agricultural country little attention
is given to such objects as are considered
of primary importance in other
agricultural communities. Hay from
England, Ireland and France, is sold in
Charleston, shipped into the interior of
our 8tat6, and at this very time is selling
at a price for which our farmers will
hardly bring it to market. Surely there
must be a profit derived from its supply,
fgl or -it would not be brought to our seaports:
and is this state or things always
to continue? Are we lo raise cotton at
8 cents to buy hay at 81,50 per cwt. to
feed our stock with? What a commentary
ou the condition of our agriculture?
The obstinate adherence to old fashioned
modes of practice, to following in the
footstep of predecessors, keeps down
knowledge, and retards all useful and
productive innovations. " We are called
Agriculturists. Do we deserve such a
name 7 Not justly in the present state of
our affairs. We are planters?literally and
strictly planters?we put seeds into the
ground and expect them to germinate We
watch their progress with anxiety, and we
look for the same fault every year?we expect
to raise a little mora cotton than we. did
bat year, and we hope to make cortvenoogh
to spare a little, and here we atop. We
iroat to the chance of our stock getting fat
on grass, and to got through tho winter on
what shucks we may have-because it, would
be ruinous to feed s ock with fodder, &c.,
planters must attend to the crop, and the
? an in p*rlu(tA all Attention
VfVJf ,w |P *W?. WW ?v ? - ?
to secondary objects. In summer wiien
grass is plenty we have lambs, in the full be
fore the stock begin to fall off, which is usuuaHy
expected, we eat mutton, but when the
cold winter s?ts in we then begin to
look with anxiety to a supply of Kentucky
or Trnnesee or North Carolina sheep to
give us something to oat until next' grass.
Our timeis too much occupied in workmg
cotton toppare time ;o plant rye, and no at
tention being given to dry provender, our
domestiecomlorrs are diminished, as well as
our stock d? indie a s ay to skeletons, and we
trust to chance that they may live through
the wintry blasts in an old field.
How many planters sow rye for their cattie
and sheep ? How many make provision
for them in winter? Pew, too few.
Aft* there no grasses-suited to our climate ?
There are more varieties than in Northern
ogions. Are rhey more dfficult of cultivaion,
and of slower growth ? They flourish
jwith a luxuriance far above the produce of
higher latitudes. Are they with more diffi.
etiky converted into a state fitting them lor
preserratron in a dry form ? Experience
says that our hot sun will cure them faster
than at the North.
Are our lands injured by the cultivation
of luccerne or clover or peas ? They ore
materially benefitted. Why then is so
much indifference to the cultivation of grasses
apparent among our farmers and planters?
The fact is, we ore unwilling to act indupendenily?we
place our unlimited confid?n
nn!Inn I onttnn I nnlt/in f tn krihn no
(M V VI (VII . VV^lVt* VUilVIl %W VI uo
out of aH our difficulties?we consider it
the sine quenon of our existence as u people;
we look to it as a fix< d and settled policy to
it raise cotton at all hazards?and we plant
more if prices are low. Every man leaves
his neighbors to plant less cotton and pay
more attention to minor chances, and the
consequence is the same old routine?and
the same contracted policy of importing at
a cheap rate ail the necessaries that properly
ought to be our first consideration. It is
certainly reasonable io supply our immediate
wants at as ch**ap a rate as possible ; but
can we not with a slight variation in the ap?
plication of our labour effect this among
ourselves??certainly we can. But ths
practice of other countries must be followed
here to enable us to do as they do. We
must cnjjivalc land, not exhaust it. We
must adopt more generally the system of
rotation, and manuring, and planting less to
the hand and working better. Lands can
be as well set m particular kinds of grass
here as elsewhere, but the same care must
be given to them to prepare and lender them
V fit for these crops. To expect a particular
gross to take root and grow without some
attention, is just as absurd hs to expect cot.
ton to come to maturity merely leaving it
when planted to overcome other plants by
its inherent capacity to grow. Men sow
grass seed, and expect it to turn out well of
its own accord, and hence the many failures
*?treat it as they do in Kentucky and in the
older countries, and the same good result
will ensue. In our present s:ate of planting
(we will not suy agriculture) we look upon
gross as our enemy in the field, and our
i. * s T?.
.1 .v /> f /.
CHERi
xertion* are !o koep it down. If we would
n I i'Q n lit: lu nl'onlinn ?n milliner n Small DOf?
g'l ? - r- & r
lion of our land in order for the cultivation
j of grasses, we would soon be ^satisfied of
their value. The crowfoot in Columbia
j has been known to yield 6 tonsjto the acre-,
and the. only preparation here required was
to manure the lund well, break r up early
?and again in the fatter part of June?roll
it, and leave it to produce. The hay procured
from crowfoot is equal to any other,
and very littJe ^preparation required. Lucerne
grows with luxuriance and herds grass
is well adopted to our climate, and the Pe.
renial rye grass is to be found throughout
our low grounds.
A few gentlemen have lately given some
notice to the grasses, and we hope to have
shortly some account of their success.
Carolina Planter.
* Frotn the Carolina Planter.
; the chinch bug.
Mr. Editor :
Having suffered seriously by the ravages
of the Chinch Bug for the last three years,
I have observed its habits, its mode of attack
upon corn and small grain, and will
endeavor to give you the result of my oxpe.
( rience. for -the benefit of those planters
whose f.rrms are but receutly visaed by this
most destructive insect.
Generally, the Bug does little injury in
'he jearly part of the spring, being
engaged in the business of piopagaiion.
They deposit thf'r eggs in large numbers,
most frequently under the bottom blade of
the corn, and sometimes under the second
and third blade. "The joung insect is very
small, and is known by its red colour. In
a short time after the egg is deposited, the
oung may bc-seen by pulling the blade
dowimrd, lodged in a compact circle around
the stalk?they are very dehcate at this
stage of their existence, and I was satisfied
bv an experiment made last summer, that
millions of them were killed by stripping
the blade off, and exposing them to Die sun
?a process which is attended by no ptrccpt
ble injury to the growth of th?? corn, inasmuch
as the botton blades, being generally
more or less injured by the plough, and
from their proximity to the roots, aro ol
comparatively little use in receiving nourishment
from the atmosphere. The most
certain mode of destroying the young insects
is by the hand?a single gripe, accompanied
by a horizontal motion of the hand being
sufficient to destroy tho whole deposited.
This labor may be performed in the same
time that would be employed in thindjpg tho
corn; and when the importance of the result
it compared with the means used in attaining
it. I.think no one can doubt, even ad.
roitting the time necessary to perform the
labor twice as long as that supposed, that
" the end will justify the moans."
The young insects (Jo the principal mischief,
by beginning to suck the juices of the
corn where they are deposited?and as their
powers of locomotion and their appetites
increase, hy attacking and finally killing the
whole stulk.
Every other mode of destroying this voracious
insect that I have known to be re.
sorted to has proved abortive, or,4the remedy
has been worse than the disease." And
after all, the only permanent consolation
which I can off r to the suffering planters
gf your section, is to be found in ihe miggratory
habits of the Chinch Bug. In the
particular neighbourhood where I plant,
ihey have committed most d stressing ravag.
es for the last three years; and this, the
fourh year, since their first appearance, they
are doing comparatively no injury, whilst
the adjoining districts, North and West of
us which have been heretofore exempt, are
now suffWingly greatly.
I have known no remedy to be tried, and
have heard none suggested, to prevent the
ravages of the Chinch Bug upon small
grain.
J T
Edgefield C. H.,June 10, 1840.
IMPORTATION OF IMPROVED
CATTLE.
We neglected to notice the arrival in the
United States, early this spring, of some
stock sentover by Mr. Murdoch, of I relani.
This stock was offered at auction on the
5th of May, in the city of Baltimore. But
the excitement and bustle of the political
meetings then convened, caused but a small
attendance at the sale. An Ulster sow wns
sold at Si30. and one cow. which had been
much injured in the voyage, brought S:H)H
The other two cows were withdrawn to wait
further instructions from the owner, who
had sent them over to be sold on his own
account.
We are informed of yet another importation,
by the following paragraph, which we
cut from a New York paper, of 29ih uit.
VALUABLE IMPORTATION OF CATTLE AND
SHEEP.
We yeslerdny inspected the valuable collection
of Cattle and Sheep brought out in
the packet ship Philadelphia, Cap*. Moigan,
from Loudon. They cons*. of the fohowing:
A cow, called Gray, 5 years old, cost
20 guineas.
A calf, Sir George, 6 weeks old, 40 do.
A cow, Lumpy. 8 years old, 100 do.
Do. Maria, 3-years old, 105 do.
A calf, Matilda. 9 weeks old, 20 do.
Do. M .jor, 11 weeks old, 50 do.
A heifer, Spot, 2 years old, 100 do.
Do. Astor Beauty, 2 years old, 80 do.
Do. Nancy, 2 years old, 60 do.
Do. Victor, I ) car old, 80 do.
V. ' f
JSpt .
e r '
-T' "* *>'. " v
r je r a w . i
jP ... *
tW. SOUTH-CAROLINA,
Do. Flora, 1 year old, 70 do.
Do. Cherry, 1 year old, 60 do.
Three rams, 75 guineas; ltf ewes 75
do,; 1 do 10 do.; 1 do. 20 do.; insurance,
freight and passages, 463 do.?Total,
1 ^1 ft mnnone i\- 87 *7fll RR
'jvtv gUlUUUO) VI V V ) I v/x vw?
We have never s?enso fine a sclecdon
of stock landed on our shores. The cows
are prodigious in size, and their forms de- .
note great strength and power. They are j
aii froni Hertfordshire, und are the very
best breed that England can produce. The
sheep are of extraordinary size, being the
Co s'-vold cross w:th the Bukewell Lincolnshire,
the very best animals of the kind (
we have ever seen. They are imported
bv Mr. Wm. Henry Southard, of J> (Person
county, in this State, who went expressly to
England to select them, being for himself
and Mr. Corning, ofgAibany. Th? intro- *
duction of valuable stock like this ia^f im- ,
mense importance to our agricultural and
farming interest, for. which Mr. S. deserves ,
the thanks of the public. They have been
brought out in fine condition by Cap?. (
Morgan, and without any accident.
Express.
From the Amerircan Farmer.
PHILADELPHIA SOCETY FOR 1
PROMOTING AGRICULTURE.
Stated monthly meeting, May 6. N. Bid- j
die President, in the Chair.? A pap<T was
read by Charles Roberis, on theauulysis of
sevt'ralfspccirnens of limestone from Chester
nnd Montgomery counties. Tiie socie.
ly at an eurly date bore a decided and public
testimony to the fertilizing qualities of
lime and gypsum, and the members of that
day evinced then confidence in both by a
free use of them. This confidence wns not
- - - ?L. !. I I
misplaced, us uy uu ir emp.uyiueni, several
count!' s have been recovered from sterility
to the highest state of productiveness?
Among the farms ?hus restored, may. be
mentioned that of Wiiliam West, of Deluwate
county, to whom may in a great measure
be ascr.bed the happy change wbieh
commenced in the general management of
upland farms and more generallyfollowed
east of the mountains.
It is well know that a d.(Terence of opinion
is entertained by farmers respecting the
comparative merits of different vnrieties of
lime s'one, some ascribing them to the com.
position of the mineral, and others to the
nature of the sod on which when calcined
it was applied. A farmer of Bristol, Bucks'
county, not long since told the writer that he
had tried it on a lot neur that town without ,
the least perceptible benefit. The porticulars
were not inquired imo^. but several
are connected with its successful rise, and
to ttterrlnsttpmicHrmBy be as(Ttb?f tftelafr*
ure of benefit from it in the case mention- j
ed. That the result or its use on land
there can be no question, and under that (
impression the society in:end to havo ana- ,
l> sis made of specimens from quarries in
great or low repute, lor the purpose of ascertaining
thooonnectron between the ac. :
tual or deficient fertilizing properties of the
lime from th i,m, and the composition of the
raw material. An important service will
thereby be rendered to agriculture. The
analysis quoted in the paper read before
the society were kindly made by Mr. Frnzer,
of Philadelphia, and the paper will appear
in the Farmer's Cabinet. One great
point to ascertain is whether the presence
of magnesia in lime, is or is not injurious
to vegetation. The experience of Pennsylvania
and Europe is d tferei.t on this subject.
Mr. Vilmorin, one of the most extensive
] Parisian dealers in seeds, and an eminent
horticulturist, sent to the Society eight pareels
of different varieties of wheat for trial.
Thoy ore the produce of various climat'-s;*
one was from 0 less a, and were deposited
with the editor of the Cabinet for distribution
among farmers, under the condition .
that they will give an account of the result ,
of experiments made with them. I
Mr. Rowan stated that the Legislature ,
had passed an act to revive that of March, ,
1821, which granted to the Society 850 j
annually for every member from the city |
and county of. Philadelphia, in the House of ,
Represeutatives, for distribution in prerr.i. ?
urns. I
A fact on the subject of wheat was men- |
tioned, which gave rise to somo ducution, j
and will be resumed. It was stated that a ,
fo ld of wheat, sown as usual with grass ,
seeds, was much injured last year, by rust j
while an adjoining one, in which no grass ]
had been sown was free from it. I
The President brought n bottle of wine (
made from grapes grown on his farm last }
year.
The Society resolved to hold nn exhibi- ,
tion and fair next autumn, and a cominiitee ,
of arrangement was appointed. It also (
passed a resohion recommending .ho Farm- |
er's Cabinet, published by Kimber und |
Sharploss, No. 50 N. 4th street, to the pat- (
_/?.L 1 I- ?. _:il ?ll
ronuwu oi me puuuc. 11 win uuiuum uu |
papers read before the Society. j
CONTENTS OF THE SOUTHERN CABINET FOR ^
JUNE.
Notes on European Agricuhure, by a
Charlestoriian, No. 6.
Agricultural Survey of the neighborhoods
of Society Mill and Chora w. By the Editor.
Emigrating. By a South Carolina Ala~
bamian.
Answer to Queries on (he improvement
of Pine Plains. By an Up-Countrymun.
Agricultural surveys. By tie Editor.
RemarksjtfJdr. Ruflfni on Dr. John!
son's ArtlclcT>h Calcareous Manures?with
m
f** *
ft} AS
A -/?* v' ?
Z> P?lt T
- - ',
WEDNESDAY, JULY 8,
the reply ofDr. Jonnson. .
Trees of the Rocky mountains.
poultry Management. *1
Fast Working Oxer.
Abstracts. ..
Agricultural Societies. v * ^
Green Crop oflndinn Corn.
Descriptive Catalogue of Turnips.
Leading Rules for Laying and Planting
Flower Bods in ibe Front Garrfons of Street
Houses.
- Tales, Sketches, 6rc.
>
A Morning's Ramble of the Imagination.
Notes of an Excursion from Philadelphia ]
to Jacksonville, III. (continued.)
Hunting in Kentucky,'(continued.)
The Panther's Leap.
Poetry.
Francis Olderby.
The Coffin. #
Th? Battle of Trenton.
Rocy Mountains Sketches?the Snow
Cliff.
Jewish Marriage in Whitchchurch
(Eng.)
Agricultural Items.
Rye in Woodland; Orange Globo Mangel
Wurlzel; To prevent Milk from turning
Sour; Caking of the Bug or Udder in Cows;
To preserve F'ince Posts, &c; Silk Rolling;
S? eds; Chinch Bug; To prevent Hens from
Scratching; Tulips.
Miscellaneous Items.
Tunnel through the Alps; A Floating
Market; The Water of the Dead Sea; The
* orld's Bod; Spanish Philosophy; New
York Police; Love's Telegraph; Anecdote;
Woman; Society in Portugal; Vastness of
London; Singular Circumstance.
CONTENTS OF THE FARMERS* REGISTER)
NO. VI. VOL. Vllh
Original Communications.
Oti the different proposed schemes of rotations.
On the objections to marling in the
south.
Manuring.
Remarks on corn culture, beans, &c.
The earliest notices of silk culture of this
season.
The second Physirk humbug.,
Monthly commercial report.
Selections
Lucerne, or French clover.
Agriculture of France.
Essay on the nature and importance of
agricultural education.
Hot air furnace.
Tbe grape vine.
PoMfrnj- , _ Remarks
on the propriety of using marl
in South Carolina.
. Exract from the report on the culture of
the mulberry, arid the mode of rearing silkworms
in rhe environs of Puri9 in 1836.
Model filature at Philadelphia.
Different soils in Kentucky, and the conjectured
formation of the rich lands around
Lexington*
On shoeing horses.
Harvesting of corn.
Directions for clearing hnd.
Ti:e bee-moth.
On the cultivation of fruit trees.
Notes on European agriculture.
Essex agriculture.
Wire-worm.
Gatherings from graveyards.
Edgings for a flower garden.
Powers of the Arab horse.
Noteson northern silk-culture.
Lime and lime burning.
Manure from leavrs. Cowpens.
Green manures. Buckwheat.
On the culture of lucerne."
IMPORTANT TO FARMERS.
A friend of ours, Capain Cheney whose
plantation is below Old Chester, informed
js the other day, when we were at his place,
hat several of his neighbours had made
what he regards a vory valuable discovery,
and certainly, if it shall prove true a very
mportnnt one. It is no less than a preven:ive
for the fly in grain. ' The farmers to
whom wehrive alluded, had purchased considerable
street manure, Irom Philadelphia.
This had been put on their wheat
field* in strips; 1st, a str'p of street manure
from the farm-manure, from the stable,
und then another strip of street manure?
<o alternating through the fields. Jn every
instance the wheat is taken by the fly direct|y
through each layer where the common
farm manure was spread?and in every
ather case, where the street-manure was
spre.id, there is not a fly in a single stock.'?*
rh? farmers alluded to, are of opinion that
he preven ive proj>eriies are in the anthracite (
ishes, winch had been tliown in the streets
if Philadelphia, and were thus mingled with
[ho manure. Certain' it is the effect has
been, in some way, to escape the use of
the street manure, and it will be worthy of
the considers ion of farmers to investigate
for themselves on the hint we now give.?
We shall be glad to hear from any of them
upon a subject of such importune to the
farmers, the great pilars of our nation.
[Saturday Courier.
ADDRESS OF THE "NATIONAL
DEMOCRATIC CONV ENTION."
[Concluded.]
It was to havo been expected that, in
nominating a candidate for the Presidency,
the Whig party would select an individual
w^iose political principles so far as they have
been disclosed in his publie acts and declarations,
arc in accordance with their own.
EET1
V"
IZER.
1840.
i" ?
This expectation has been fulfilled, in th
nomination of General William Henr
Harrison by the Harrisburg Convention
He may be justly regarded as a true expo
nent of the political doctrines cfr the pertj
which have put him forward as tbei
leader and reprsentative. Before thi
contest between Thomas Jefferson am
the eider Adams in 1798 he ha<
been alredy in public life; and upon th<
separation of parties on the leading politi
j;ul questions of that day, he bScame a a ip
porter of the latter. Prom that lime loth
present, nothing has appeared in his pubh
acts evincing any change of opinion on hi
part in respect editor the questions referro
to, or to others which have grown out of sub
sequent division upon measures involvinj
great principles of government policy.Indeed,
those who now take upon Tbemselve
to speak for'liim authoritatively, and to b<
the expounders of bis prinriples, have pub
linlu <I<uiIdkuI -thai rin hII the nxriiincr niii-n
|VV>I J UVV4UI vv? ?M?M WM w Q tions
which formerly, agitated, and sul
agitate the public mind, his opinions remuii
unchanged." - -
We may, therefore, justly "appeal to hi;
former course and opinions as the criterioi
by which'he is now to bo judged* Hi
stands confessed as a supporter of tbe-mos
obnoxious Federal measures?the aitei
and sedition laws and the standing army o
the e! ler Adams; the high toned doctrine
of the younger, and the administra ions.'c
both. From both he received confidence
and favor, and from both public office.?
If other proof of his Federalism Be neces
sary, it wilt be found in the position h
how occupies as. the sole candidate of th
modern YVhig party for the- hightest* offici
in the gift of the people.
Relying, as we do, for the successorou
cause, upon ihe great principles ofconstitti
tionul right and popular liberty,, we do He
feel called on to make a direct issue- w*
the supporters of Gen. Harrison, on th
questions of his claims to the title of u Here
Wecannot, however, but remember the ex
pressed apprehensions of the party that sup
port him. uttered by their great l? ad?T a fei
yeurs since that the elevatiotiof a Military
Chieftain to the Presidency would be <
more fatal tendency than 44 war, pejtilenec
and famine." It is true, we might quesiio
his claim to a place in history as a grez
military leader: and on this issue we cnigt
c?H tor the universal judgment ot hift cour
try. Acts should speak lor themselves, an
most especially military* exploits; and th
General who requires from his subulteyn
their written tesiimt niais to prove the wis
dom of his conduct, the fact of his presenc
in danger, or (he value or his services t
his country, Can scarcely aspire to tli
dignity of a hero. Are weiriistrfken in tti
fact that doubts surround jthe mil
tary reputation of Gen. Harriaon 1 i'i
they not exist even in his camp and amor
his most bruve and efficient officers ? Di
they not reach the Congress of the Unite
S at'is, and, at a time when the tmns tctiof
weru recent, and the means of mfurmatig
full, induce the Senate to refuse to him tho?
honors which were unanimously awnrdc
to others with whom his name was ossocia
cd 1 Did he not leave the mihtary servic
of his country at the most gloomy period <
a desperate war, thus making his own ae
ands the time chosen for it, a confirmation <
doubts land question? To Generi
Harrison we would render strict and impai
tiul jus ice, and we propound these inqu ric
because the history of the tim< s not onl
suggests them, but, furnishes a positive an
affirmative answer to each. Will hi
friends reply that we are proving their can
didate not to be a military chieftain? B
it so. Their inconsistency in claiming fo
him that characters! a merit and a qualifi
cai on for the Presidency, is not the loss ap
parent, if they shall be louod to admit tin;
the claim has no foundation in fact and hit
lory.
Beyond this single claim to the support c
a free people, as distinctive of the Peder
candidate for the Presidency, we are unabl
to speak from nny ground as yet assume
bv^himsdf or his friends.; In reference I
l? s principles, opinions, and acts, be)on
his military chieftainship, there is an orgaf
iz"d silence, as studied as it is singular. Th
country has been told, as it would seem b
authority, that he is to write no more 44 fc
the public eye," until ufier the Presidents
electiou. and his supporters very careful!
follow this example of their selected leadet
His public history is certainly not a histor
of civil triumphs, nor has a life spent i
public employments, mostly civil, prescnte
him as the author of measures, or even r
a leading supporter of the measures of o;l
ers, essentially consecrated with the princ
pies of our Government, or with the in ei
ests of our people. We are compelle<
therefore, to dismiss General Harrson; am
beyond what we have alrendv said, to folio'
the example he has set and his friendsaam
tioned, to say nothing, because, as we ai
forced to presume, nothing is to be ?au
We leave him, therefore, wilh his Federa
ism established beyond question, and wil
his questionable claim tu a military ret>uu
lion.
Once more, we repeat, we are not alarn
ists ; but our duty-to the Democracy we ai
here to represent, would be ill discharge
did we not cul1 their serious u'tenUon toll
desperate efforts which their opponents ai
every whoie making to carry the approacl
ing election, and to gain possession of tt
General Government. If they were to su<
ceed in tho accomplishment of tlieir- objec
and thus be enabled to carry into execulir
their schemes of policy?rlhose especial
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NUMBER 34
e which relate to the management of the puby
lie finance by the agency of a great moneyed
. institution?there if danger that our Repub*
- lican institutions, though they might preserve
f their form, would not long retail* that? purity,
r their s?mpbc?ty, or their strength. But our
s .confidence in the discrimination and patriot
i tUm of the people is unshaken, and we Qflflfe
i fidontly trust and believe that they will itdj,
b only see the coming danger, but that tbefT- j
will gieet it with ail the necesnkry measures ,
e The history of oil Republics if r
d Government like ours, fortned^by a tifthttl
- of independent Sia et. ^ y/
b foreign influence, exerted tbroughthepowef
e of money. The approaches of this influ.
ence have been gradual and impcfLlpMblc,
. until within the l.ist few years; tvUbfe which
i the progress has b^en rapid, and the dilfosiSf ^ ;
r iihmos! universal. The ordinary operation*
of trade bet when commercial countries are
i reciprocal and salutary. Enabling each to
i exchange the commoditH* of which it has i
t try, the cooveoienCe, and the comforts of all
a- are promoted, the wealth ofaft, both mdivL
f dual and nations), increased, healthfiifofod
s useful intercourse secured, end hfomouy
f of feeling producod, without and necessary
q sense of dependence. IU however there
ciprocal relations of trade be Changed for
- the retations of borrower and leader* if one, ?*
?|-couhiryor its citisei*, become borrowers % ...
e from another country, or its citizens, fk#
; purposes, not" commercinl, the consequences
[are whoHy diflbrsm, and the m
,r truth, that14the borrower is servant to- the
l lender" efm/wiay.-wdl be fo&nd to fore in
it application strongly, and much more dan
I, geroasly, than when that dependent relation
e exurs between citizen and citizen of the
sa ne coun'r;-?
t Wo are not to be understood ascondettf*
k ing, in all cases, ioans between country nod
v country, or. between the citizens of rfi&fiNft
i* countries. Tno demands arising from *
>1 state of wnr, and ]>erh?Pf of other great os. *
i, igenccs, frequently render such loans, by t
n nation, indispensable, while the transactions
it of commerce are constantly creating credits
it between commercial men of ett countries,
u In the first class of cases, the wer mast be
d prosecuted, or the other greet national esi*
e gency met and the relation of debtor enis
dured, until returwng peaefc, or renewed
j. prosperity, shall huve wipedoft the debt.?
e In the second the operations of commerce
o 'ire anticipated, and ordinarily depended
ie upon with safety to bataaog the accounts,
10 and terminate theimpfi ?iit rclatiem >Tt>
1. no transactions t>f these dbsset are any of
d our subsequent remarks intended to be up.
ig plied.
id A very different description of foreign
id loans and foreign debts hare been oomtion
is in our country, and to these it it our wish fa
m draw the pfcblic attenfon, We refer to loans
ie made by banking insiitutians'eithcr to rc
d lit-'ve themselves 1/om embarrassment
t. caused by improvident expansions in hankie
ing, or io enablo them to extend their ope*
,f ration? beyond the Rum intended by those
tt, who gra nted their characters by tympanies
yf and associations, to enable them to monopo.
ij lixe ?n entire branch of inteifwltrade,'ft|qp
p. embark in some enterprise of questionable
* productiveness, and hy the Slates of ti?
y Union, without the provision, by taxation
d or otherwise, cfa safe and certain fund to
? iTH'dt interest upon their loans* Wo-thiok wo
. are not m rata km in the assumption thai all
0 the early State loans were sought inoor own
*> market and from?6ur own countrymen. 4
1 We hi lieve, also, that one of the first acts
i. of the borrowing State w is to establish and
it set apart a fund to meet ihe payments of
i. interest upon the money borrowed. TM.
safe policy prevailed for a series of yearly
)l and until deleterious examples, proceeding
il not from ihe States of the Union, but foot
e inc orporations, the creations-of the -State
d and Fudiral Governments, produced the
o change, the consequences of which wo
d consider do frarful and alarming.
i. The Bank of the United States was the
e first to inuka the standard of its crcdlrin
y London the measure of its business in the
ir United States. Other leading Slate institu.
1) lions followed this practice of evil Undnef.
v | and none or the incorporations wlHCTronee
. adopted this standard, failed to make their
y interests conform to it. Thus a change iu
11 the value of money in foreign countries
d would become the measure of bank ex. ?
is pensions and contraction's in the United
i- States, nnd of many of the iargcr States
j. banking institutions, were concerned,
r- A long period of genertri pence, and lof
Jf great prosperity in ail the brat cheeof trade \
j, and industry, rendered expansions, gradusr
uated by tliis standard, much more pWfalent
than contractions; end thus from tho
e known excessive profits of banking in thia
i. coun ry engendered an appetite for
multiplication of ba k charters, before un.
iH known to us. H? nee the number of banks
i. in the country was at l? ast doubled in the
course of some three or four years, and the
i. hanking capital was enla.ged in still greater
re proportion.
d, This muliiplieaiion of banks and banking
ic capital in so sh irt 8 period, could not Tad to
re produce a proportionate expansion of ottr
l). paper circulation. Such was the effect,
,e i with the fur;her cosequencet of increased
1 prices of property, and an almost universal
I, speculation. The multiplied banks found
>n customers, because almost the entire com*
|y muijHy were st mutated to become borrowI
. .