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Editorial November 21, 1840

Salt River Journal

Bowling Green, Pike County, Missouri

What is this article about?

The editorial celebrates economic prosperity following the Independent Treasury Bill, refuting predictions of depression. It criticizes John Davis and federalists for supporting the harmful United States Bank, now broken, and opposes restoring British-influenced banking policies that enrich foreigners at American expense.

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Full Text

PROSPERITY OF THE COUNTRY.

The business affairs of this country have never brightened more rapidly, and with better prospects than since the passage of the Independent Treasury Bill. It was solemnly predicted by some and believed by others, that the passage of that bill would depress the price of every description of merchandise, and reduce the wages of labor to a condition with that of the monarchical countries of Europe.

It is not surprising that the authors of these monstrous impositions are now ashamed of them-that they are uneasy whenever the subject of prices is introduced-and that honest John Davis, though a candidate for a prominent office, has sunk into insignificance, or is mentioned only as a reproach to his party and a disgrace to his station. The deliberate falsehoods which he and his friends palmed off upon the ignorant who believed them, can no longer deceive anyone--they will forever remain a stigma and disgrace to their authors.

We understand that the manufacturing business has sprung forward with a bound-that every thing prospers with them, and that their profits will be all they can ask on what they now manufacture. The United States Bank which has been their curse, but which they have supported-which has inflated the currency with the passage of every tariff, and thus invited foreign importations--which had the use of public money, and loaned it to importers to introduce foreign goods-- this British United States Bank has broke. It has hung like a curse and a millstone on the necks of the commercial and manufacturing community until it can no longer harm them.

The Independent Treasury strikes a blow at the root of this mischievous policy--so unjust to American citizens-so enriching to the foreigner.

But the federalists wish to unsettle this permanent, American and independent policy, and restore the old quack, bloated, banking bubble with all its expansions and contractions. They wish to take the public money for the use of speculators, importers and gamblers. The British are pouring their money into this country with profusion to influence our elections, and to re-establish, if possible, the British policy of enriching themselves at our expenses.--Hartford Times.

What sub-type of article is it?

Economic Policy Partisan Politics

What keywords are associated?

Independent Treasury Us Bank Economic Prosperity Federalists Manufacturing British Policy Tariffs Currency Inflation

What entities or persons were involved?

John Davis United States Bank Federalists British

Editorial Details

Primary Topic

Prosperity After Independent Treasury Bill And Criticism Of Us Bank

Stance / Tone

Strongly Pro Independent Treasury And Anti Federalist Banking Policy

Key Figures

John Davis United States Bank Federalists British

Key Arguments

Passage Of Independent Treasury Bill Has Rapidly Brightened Business Prospects Predictions Of Economic Depression Were False And Shameful United States Bank Inflated Currency, Supported Foreign Imports, And Harmed American Manufacturers Independent Treasury Ends Unjust Policies Enriching Foreigners Federalists Seek To Restore Harmful Banking System And Use Public Money For Speculators

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