The Daily Cincinnati Republican, And Commercial Register

A SURE RECEIPT TO CREATE AN "ALARMING DISTRESS."

First, charter an institution with capital enough to control the whole currency of the country.—Place it under the direction, and submissive to the will, of one man. Its own latent caloric becoming active, will soon simmer it into the belief, that it ought to regulate the politics, as well as the currency of the country. It will then put its attorney on nomination for the presidency. It will begin to extend its loans for the purpose of increasing its power. By thus making credit more ample, it will induce men to build splendid houses; to furnish them in a sumptuous style—mechanics will run in debt for luxuries; and merchants will overtrade to the extent, perhaps, of thirty-five millions. The election comes round—the attorney is defeated—and his client prepares for renewing the effort. He buys presses; pensions men of talent; cloaks up bribes under the specious garb of business transactions; and calls the purchasing of influence, the "granting of facilities." In the midst of these doings, let the public moneys be removed from the institution. It will operate as a signal—a sky rocket—to the wide spread pack. The manager of the instrument, "calm as a summer's morning," begins to turn the screw. The purchased presses raise their cry against the injustice of the government. The pensioned advocates deluge the land with their special pleadings, against the country and in favor of their patron. The thousands who have touched the "business transactions" or "facilities," join in the cry of "down with the government!" like the supernumeraries at the theatre, who perform their parts for a shilling the night. The thing is now under way; the pressure begins. Then denounce all the state banks in the country—declare them unsafe—publish false statements of their abilities and liabilities—advise the people to rush on them for specie—talk loudly of extensive failures; and ring in the ears of every business man, exactly such heartless falsehoods as we copy from the Frederickonian of last week:

"ALARMING!! It is stated on the authority of a letter from New York, that there have been ONE HUNDRED failures in that city, since the commencement of the present pressure, involving an amount not less than FIFTEEN MILLIONS OF DOLLARS!! It is also said to be in the contemplation of the legislatures of New York and Pennsylvania, to authorize a suspension of specie payments by the Banks within those States."

By this time you have a pressure indeed. You now have a little truth, to work upon, so do not stop. Some now must fail, and the moment a trader closes doors, cry it throughout the land, and assert stoutly, that this merchant, or that broker, or yonder importer, was on his paper to a large amount. Charge, also, that such a state Bank lost so many thousands by him, and must soon stop—this will have a capital effect. There will be run after run, and you have the pressure in the full tide of successful experiment. The manager may now relax a little in the way of discounting, and talk of his own liberality—for now you can go on without him—now the pressure can be continued as long as the public believe the bought presses and pensioned orators.

If any fool of a fellow should cry out, "I am ruined! what the deuce has brought this evil upon the country?": you have a very simple, and yet very pery satisfactory answer. It is—“my friend, all this distress is caused by the President's taking a million of dollars out of the U. States Bank, and putting it into the Girard Bank." He'll see the truth of your position at once.

**The above receipt has been tried by Dr. Biddle, "Dr. Clay, Dr. Webster, Dr. Calhoun, and Dr. Downing, in the course of their extensive practice, and has never been known to fail. It is now published for the benefit of the public, that whenever they want panic medicine, they can make it for themselves, without the trouble and expense of consulting these learned gentlemen.—Trenton Emp.**