Letters To The President On The Foreign And Domestic Policy Of The Union And Its Effects As Exhibited In The Condition Of The People And The State

Author : H. C. Carey
Publisher :
ISBN 13 : 9781330634226
Total Pages : 178 pages
Book Rating : 4.6/5 (342 download)

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Download or read book Letters to the President, on the Foreign and Domestic Policy of the Union, and Its Effects written by H. C. Carey and published by . This book was released on 2015-09-27 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from Letters to the President, on the Foreign and Domestic Policy of the Union, and Its Effects: As Exhibited in the Condition of the People and the State Sir: - In common with a large portion of our fellow-citizens, I have looked with much anxiety for the appearance of your Message - hoping for some suggestions tending towards the relief of the community, from the accumulated evils under which it now so severely suffers. In this, however, I have been disappointed, having found therein, only the assurance, that, while the government "cannot fail deeply to sympathize" with the people in their distresses, it is wholly "without the power to extend relief" - the cause of difficulty being to be found in the vicious action of the local institutions, which are beyond the reach of any action of the central government. For more than forty years, as we are here assured, the history of the country has been one of "extravagant expansions in the business of the country, followed by ruinous contractions. At successive intervals," as you continue to say, "the best and most enterprising men have been tempted to their ruin by excessive bank loans of mere paper credit, exciting them to extravagant importations of foreign goods, wild speculations, and ruinous and demoralizing stock-gambling. When the crisis arrives, as arrive it must, the banks can extend no relief to the people. In a vain struggle to redeem their liabilities in specie, they are compelled to contract their loans and their issues; and, at last, in the hour of distress, when their assistance is most needed, they and their debtors together sink into insolvency." For all these difficulties, we are, as you have here informed your constituents, indebted to the excess of power in the States. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.