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sult from this new and healthy impulse petty fraud, intrigue, and meanness, imparted to the national life. We re- which bas so long characterized the fapeat it then-More than any particular mous, or rather infamous, school, whose measures of national economy, more whole political creed was “party usages than anything else beside, do we now and regular nominations,” and whose want the moral power of honest, honor. sole governing principle was the inable, highminded, conscientious men effably abominable doctrine of “the men of open, frank, and manly charac- spoils.” ters—men elevated far above all that
THE ENCHANTED CITY.
In a fair and verdant valley by the borders of the sea,
They were haunted and enchanted with thy memory, Isadore!
THE INDEPENDENT TREASURY.
Day after day have the oracles, official lands, postages, or otherwise, shall be and otherwise, of the party now unhap- made in solid coin, and of course all paypily dominant, congratulated the country ments from the Government must soon be on the prospective reëstablishment of made likewise—that is, as soon as the that “great measure of deliverance and eleven millions of public money now safety” devised by Van Buren, twice re held in deposit by the banks shall have jected but ultimately ratified by a Con- been exhausted. The measure seems to gress of his partisans, which, though speedbe unexceptionable in its details, wrong ily overthrown by the resulting Whig only in its principle and inevitable conseascendency, has been ever since, at least quences. There can be no rational doubt nominally, adhered to by “the party” that the Senate will pass it, probably through good and through evil report. without material alteration. This measure, the people have been as But now there rises to view what sured, would secure the public treasure would be an anomaly in the history of against embezzlement, despite the expe- any but Loco-foco policy and legislation. rience in the cases of Swartwout, Hoyt, The advocates of the measure are alarmed Price, etc.,) give stability to the currency, and appalled at the prospect of its success, and everywhere preserve the business while a large proportion of its opponents and industry of the nation from those regard that result with undissembled satruinous fluctuations growing out of con- isfaction. These say to the “divorce” tractions and expansions of the circulating men—" You have talked about this meamedium which have proved so baneful to sure long enough-let us see it work! legitimate enterprise and patient toil. You once before carried it through ConBrave words these and specious, such as gress by prodigious efforts, and turned have heralded all the gunboat experiments square around to contriving and managing ever made upon popular credulity and how to render it, as nearly as possible, a party tenacity since the world began. nullity and a farce. Now pass it as you The scheme, so plausibly commended, mean to have it stand, and set it in mo. has secured a sort of public sanction by tion as you mean to have it work, and the votes of those who never examined we will gladly abide the issue. One of the arguments in favor of, much less two things we are confident it must prove, those against it, and to whom it was am- either an expensive and hazardous jnggle, ple recommendation that it was unpalata. or a ruinous mischief. But if we are so ble to the Whigs and seemed calculated grossly deceived with regard to it as you to harass and cripple the banks. The assume, a thorough, practical trial will Independent or Sub-Treasury project has undeceive us, and the country will reap triumphed, so far as is implied in the all the benefits. If the measure work election of a President and Congress as we say, the people will soon put a avowedly favorable to its reënactment. stop to it. At all events, it is high time The argument is exhausted, or rather this protracted controversy were brought forestalled; the jury empanneled to try the to a close. Put on your screws!” issue, are already pledged to render a ver But the very sturdiest champions of dict for the scheme ; and the House has the “hard” policy now betray misgivings, put it through without ceremony, very while the summer-flies who flutter and reasonably acting on the presumption that buzz in their wake do not even attempt where but one result is possible, the con to conceal their reluctance and fore. sumption of weeks in debate, where there bodings. The portents of instant calam. can be no deliberation, is a sheer waste ity to result from the Sub-Treasury revoof precious time. So the bill has gone to lution are too clear to be denied or mista. the Senate, by a vote of nearly two to ken. Credit and confidence wither, and one in the more popular branch, and in the Circulating Medium shrinks in volits legitimate shape. It is in truth a bill ume irresistibly, as the doors of the Subto“ divorce ”the Government from Banks, Treasuries yawn to engulf several millions if faithfully executed; providing that all of specie. The banks have no more payments to the United States, after the power to resist in the premises than the 30th of June next, whether for customs, sun bas to shine through a raging storm
same as ever.
Their directors may resolutely shut their believe that the collection forthwith of eyes and ears, and go on discounting the the whole in specie would prove disas
But this cannot last. If trous. But to make such a revolution as prudence does not teach them, bank, this bill proposes take effect by degrees, ruptcy soon will. The power of banks can never modify the essential character in a convulsion is like that of ships in a of that revolution, nor even its essential storm; they can at best but avert and consequences; it can only serve to blind overcome its perils, but must not presume the less observing millions to the causes to still or even direct the warring ele- of their sufferings. And this is in truth ments. Should they do so, the rebuke of the main object of the gradualists. They their temerity is speedy and signal. No fear the public will not swallow the vulgar error is more gross than the sup- whole quart of their nostrum, so they position that banks may combine to in- present it in four half-pint doses. If they crease or diminish essentially the volume asked us but to take one as a sample, of the currency, and thus to raise or there would be some difference in favor depress the money value of property. of gradualism ; but, since the same act As well might the frailest bark undertake binds us to take the whole, there really to reverse the tides.
is none. The Sub-Treasury project is to pass, But mark the difference against it. for we assume that the dominant party is The currency is now mainly sound and not quite ready to enter a cognovit on all yet sufficient; the banks solvent, yet the hobbies which it rode in the canvass actively benefiting their customers and which gave it power. “The whole of the public. But pass the Sub-Treasury Oregon” is virtually given up by the in the graduated form, and the power of action of the present Congress, while Mr. the banks to facilitate business will be Walker's thoroughly free-trade report, diminished, while they will be forced to and partially corresponding bill, must the unpleasant and unpopular resort of stand back for the substitute of the House curtailment and collection. In the agony Committee of Ways and Means, giving a of contraction, some of the weaker insti. higher range of duties on Woolens, Cot- tutions will go to the wall, creating a tons, &c., and diverging as plainly if not panic and a run upon the whole. Soon as widely from free-trade principles, as the inevitable stringency and occasional does the present tariff. On no grounds ruin of a bank will be appealed to as rea. but those of Protection can this bill be sons for an entire divorce from banks and sustained; it is in truth simply a weaker paper money, because of their fluctuaand worse, a more timid and diluted Pro- tions and insecurity; and thus the consetective Tariff than that of 1842. We can quences of the Loco-foco nostrum will not see how a well-informed and earnest be brazenly adduced as its causes. The free-trader can commit himself to the Government will be held by its advocates support of such a measure. And now if to have cut loose from banks because the Sub-Treasury were to be thrown they were unsafe and useless, when in overboard, either openly or by an obliter- fact it has made them so by its predeteration of its essential features, the party mination to do this very thing. Every which elected Mr. Polk might as well consideration of justice, business, policy, confess its positions and doctrines of 1844 combines to urge that the measure should a stupendous fabric of imposture, resign take the shape at first that it is to wear to the seals, and go into liquidation. But the end; and we cannot believe that this, pride, interest and ambition will not Whigs will lend their aid to any scheme permit, and therefore we cannot doubt of which the design is to mystify and the passage of the Sub-Treasury, “in delude. spite of lamentations here or elsewhere." That the practical evil of the Sub-Trea
And, since it is to pass, why not in the sury, honestly and faithfully enforced, shape it is to wear to the end? That it will be far greater than many even of its is to produce contraction, convulsion, adversaries anticipate, we have long con. suffering, is conceded in every attempt to sidered inevitable. The real point of give it a modified, graduated operation. danger is rarely touched in the popular No sincere advocate of the measure could discussions on this subject. Whether the vote for such a glaring violation of its Government shall see fit to keep its deessential principle as is involved in the posits with banks or elsewhere, and to collection and retention of two-thirds of make its transfers of funds by means of the Revenue in bank notes, if he did not drafts or guarded wagon-loads of specie,
is a question which derives far greater bank circulation resting thereon averimportance from considerations which do aging something like one hundred and not strike the general mind. That the fifty millions. A tiny slip of paper, Government should see fit to keep its prepared in five minutes and sent by mail own funds, and to that end should with. at an expense of ten cents, effects a transdraw them from banks, even though it fer of a million or more from New York were to hoard them inflexibly in specie, or Boston to St. Louis or New Orleans, is not enough in itself to convulse the without agitation or remark, when that business and paralyze the industry of same transfer, if made in coin, as of old, a nation so energetic and so prosperous would have cost thousands, and required as ours. The use of the five to ten the labor of several persons for weeks. millions per annum which constitute the A contraction of even fifty millions in aggregate balance in the Treasury might the bank note circulation of the country be lost either to business or banks, and necessarily involves a contraction of hardly be felt. But when the Govern. credits, of operations and of money values, ment openly, ostentatiously determines to to ten times that amount. withdraw its deposites from and cease all Now let us suppose the Sub-Treasury dealings with or trust in banks, the moral established as the law of the land, in that iniluence of such a resolve cannot fail to shape which all agree that it must ultibe great, and to be felt in every corner of mately assume if it is to be a reality, and the Union. The example appeals forcibly not a pestilent, profligate sham, and that to the ignorant and the timid, especially its requisitions are faithfully enforced. among those who justify and sustain it, Does any man, can any man, believe that for imitation, and imitated it will be the present system of bank credits and We know that already individuals who circulation will not be violently affected ? had hoarded sums in bank notes, have,. When the Government has written glarsince the Sub-Treasury passed the ingly over the doors of all its customHouse, taken them to the banks and houses, land-offices, post-offices, &c., drawn the specie thereon, in order to be “ No Bank Notes taken—nothing receiv. secure against apprehended danger, who ed or known here as money but the hard would not have thought of so doing but coin itself," can any one think that everyfor the action in Congress. This process body else but the Government is to go on must go on and become general when the receiving and regarding bank notes as act goes into operation. Guardians, trus- heretofore? Will not the citizen who tees, treasurers and individual depositors, has twice or thrice been repulsed from will be impelled to convert their funds the post office, where important advices into coin, and place them beyond the awaited him, because he happened to reach of whatever consequences may re- bave nothing but good bank notes in his sult from so vital a change of national pocket, be careful to have something policy. The banks will thus be driven, else another time, and to that end convert by a perpetual drain of specie, to con- his notes into specie? Will not the pru. tractions far beyond their present antic dent merchant, daily required to make cipations.
payments at the Custom-House, take care But when to this moral influence of to have a supply of the only money there the Sub-Treasury is added the practical, recognized, stowed away against the inevitable effect of the Government's de possible event of a suspension caused by nying, avowedly, uniformly, inflexibly, ihis very exaction ? Will not the emi. to all bank notes the character of money, grant going westward, the land speculaor its legitimate and honest representa- tor, the capitalist seeking profitable in tive, no apprehension can magnify the vestment,&c., all take with them that medireality of the desolation which must um which will alone pay for lands, instead ensue. Bank issues now form nearly of that which is most convenient? The the entire circulating medium of the notes or certificates of a New York or country; they are universally accepted Boston bank will no longer be wortha without hesitation or doubt as money, more in the West than the specie they and pass from hand to hand with a celer- promise, because no longer accepted at ity which defies calculation. The six the land-office, or used by it in remitting hundred millions of dollars of specie in its funds. In short, bank notes, no France do not, and could not, perform the longer answering all the purposes of service which is here done by less than money, must cease to be regarded as the one hundred millions of coin and a equivalent of coin, because no longer
THREE CHAPTERS ON THE HISTORY OF POLAND.
Poland has become linked by asso
while faithful to dates and names, he may ciation and sympathy with the cause of give an unnatural complexion to the subFreedom the world over. Her heroic jects he paints. This is precisely the struggles and her cruel fate, while they case with Mr. Alison when sketching the have rejoiced the despotisms that sur. history of Poland. On this accouni it is round her as another victory of Tyranny more difficult to refute him, without going over Liberty, have bound her to the heart all over the ground, as every feature in of the patriot in every land. Poland is this subject must be retouched with its now a corpse dismembered and divided appropriate color, that the whole picture to her conquerors, and all that her chil. be faithful to nature. To do this, neither dren can do is to see that her grave is not time nor space would allow us; but we dishonored, nor her name covered with will attempt such a sketch as will preundeserved obloquy. She struggled while sent Poland in her proper light, and serve she could, and when hope in her own as a partial vindication of her so much arm had departed, she leaned on her misunderstood or misrepresented cause. broken spear, and turned with pleading The inhabitants of the great plain, now look to the world, but in vain, and she unrighteously partitioned, bounded by the fell. Not content with her ruin, her ene Baltic, the Dwina, the Dnieper on one mies attempt to blacken her history, and side, and by the Oder, the Carpathian destroy the moral effect of her example. Mountains and the Black Sea on the
We propose to devote here three chap- other, according to the belief of some, ters to the affairs of Poland, with a view had the Scythians for their ancestors. of giving a concise sketch of its history, The Poles were also called by the Greeks so that one can form a more definite and and Romans Sarmata, and hence the correct opinion of that nation than from name of Sarmatia was given to the counthe meagre and prejudiced sources fur- try they inhabited. Sarmatia is but a nished by English historians. There is contraction of Saurom matos, and means so little written on Poland in the English lizard-eyed, being derived from the two language, and most of that either in preju. Greek words saura lizard and ommatos dice or ignorance of Polish authorities, the eye. that a correct and comprehensive history These lizard-eyed people bore also the of Poland is yet a desideratum in English name of Slavonians, which appellative is literature. We never were so forcibly derived from the word slava, meaning reminded of this fact as when reading fame or glory. Slavonian, therefore, Alison's History of Europe—that libel on means famous or glorious. Of late the all history. Mr. Alison set out with Slavic writers prefer this to another fair professions of candor and impartial. equally authentic generic name of the ity, but he has not made those professions Slavic race, we mean Slovianie (read good in any part of his work; and every Slo-viah-nieh.) Slovianie is derived from nation he has taken up has suffered at his slovo word. Slovianin, the singular of hands; England alone-the immaculate Slovianie, means rich, full in words. England-is glorified. In speaking of This latter appellative is used to this day Poland, he discovers there too much of by a small tribe of the race calling themrepublicanism, and bis sensibilities are at selves Slovacy (Slo-vah-tsy) the singular once offended. Instead of taking up the of which is Slovak. It follows that the thread of history at the beginning, and proper appellation of the race is Slavianie, following it to the end, he takes it up at or Slovianie ; Slovacy being reserved for the most unfavorable point, and from the the tribe alluded to. In English we circumstances which then exist, he judges should say Slavonian or Slovian, or if it of the whole nation and her entire history. should please better, Slovianian, Slavic or In history, as in painting, the outline may Slovic race, and never Sclavonian, Scla. be correct but the coloring may be false, vonic, or Sclavic race. not true to nature. The historian may The Germans, who were mortal enedip his brush only in black, and thus, mies to the Slavonians, were in the habit