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the approaching winter, descend into the while the living sufferers that lie beneath plains, to gather in the harvest. Then the them are left out of the picture; or, of slaughter commences, and does not end till churches more magnificent than one could harvest is over, and often not even then. well dream of, while wretched men, in The malaria seizes the hardy mountainer as its lawful prey, and hurries him with steps, begging the bread that is not given.

disregarded rags, sit upon their broad fearful rapidity into the grave.

Unaccustomed to the scorching sun that beats on

Let us have the full picture, drawn to the those plains, he finds himself at night ex

life, of this and every other country, or hausted and feeble. Inured to toil, and let us have nothing. delving arrong his native hills from morn He takes frequent occasion to let us ing till night, he wonders at his weariness. know, that all intelligent persons there Without a hut to shelter him, he flings his know the condition of their country and complaining limbs on the damp earth, as are ready for a change. We extract a he has often flung them on the mountain striking passage. The long succession side, expecting the morning will find him of gorgeous papal ceremonies had closed fresh and vigorous as ever. But ere slumber has wrapped his weary form, the pesti

at last with a magnificent display of firelential vapors begin to steam up from the

works. noxious earth, and noiselessly embrace their “ Lent is over-the last honors are done unconscious victim. In the morning, he to God by his revealed representatives on who has felt all his life long his blood leap earth, and the Church stands acquitted of in his veins like his native torrents, now all neglect of proper observances. Is it askfeels it creeping heavy and hot through his ed again if the people are deceived by this depressed system. Ignorant of his danger, magnificence? By no means. A stranger, an or the cause of his ills, he renews his task, Italian, stood by me as I was gazing on the and again staggers on under a burning sun, spectacle, and we soon fell into conversaand lies down again to sleep on the moist tion. He was an intelligent man, and our earth, in the embrace of his foe. The next topic was Italy. He spoke low but earnestday the poor fellow toils with hotter brain ly of the state of his country, and declared and a wilder pulse, and fings himself at there was as much genius and mind in Italy night on the cool earth, from which he will

now as ever, but they were not fostered. never rise again to his labor. Thus, while An imbecile, yet oppressive government, the scanty harvest of grain is gathered in, monopolized all the wealth of the state, and the malaria has been reaping its richer har- expended it in just such follies as these, vest of men.'

while genius starved, and the poor died in With the same appreciating eye and want. I have never heard the poor Pope so felicity of language has Mr. Headley berated in my own country. At the close of dwelt everywhere upon the triumphs of the representation of a volcano, I remarked Architecture, Painting, Music and Sculp. with a most bitter sneer, 'hell is in Rome

that it resembled perdition. “Yes,' said he, ture. But it is not the splendors alone of na

now-a-days.' Had the Pope or one of his

gens-d'armes heard it, he would have seen ture and of art which fill and illuminate the inside of a prison before morning. I all the shores and cities of Italy, that ar was exceedingly interested in him, for he rested the quick regard of the traveler. was an intelligent and earnest man, and While he leads us into the halls of kings, when I turned to go away, I took him by into the more than regal magnificence of the hand and bade him good bye, saying, a proud hierarchy, and amid the beauti- another day is finished. Yes,' he replied, ful and poetic scenes that on every side with the same withering sneer, another abound, he has not neglected to introduce day of our Master, another day of our Lord to our notice the people crammed into filthy

and Saviour Jesus Christ."," dens, half clothed in tattered garments, The common people, too, appear to with haggard faces, as the fruits of a so see quite through the jugglery and false. cial and political system that requires ness of their ghostly teachers. When “ two-thirds to die of starvation, that the near the close of a terrible three days other third may die of surfeit.” This storm, bishop and priests “ took the ashes is the book's chief merit, though it pos- of John the Baptist,” marched solemnly sesses so many other sterling qualities. It to the sea, kneeled in the water and thus fills in Italian picturing a space that prayed to stop the tempest—soon after has hitherto been vacant. We are not which the wind wbirled about, and the willing to be delighted with political storm Julled, a manifest miracle !-one descriptions of that lovely country alone, fellow asks: "why did'nt they pray when it is filled with a half-fed people; sooner, before the mischief was all done?” or, of statues that record the deeds and --another says, with a noticeable shrug, memory of the great and noble departed, “umph! they watched the barometer!"

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Italy sadly needs a religion. Mark the ries of her modern history are but a record portrait of a holy priest of St. Peter. of her decline. The cause of this state

“ With his cowl thrown back from his of things, in part, is perfectly evident. shaven crown, and his cross and rosary dan

The instruction of the people has always gling at his rope girdle, he approached me partaken of the nature of their climate. in a most insinuating manner, aski:g for It has been musical, poetical, cheerful, alms, and promising to pray for me as long volatile and passionate. That class of as he lived. I thought I would test his

emotions, corresponding to the nature of creed for once; and so pulling out a hand

their instruction, has alone been cultivaful of small change, I rattled it before his

ted. Her people have thus grown up, greedy eyes, and said, “You say then you will pray for me, if I will give you money?

out of all good proportion and symmetry, *Si Signore !' • But a priest-your superior

and now exhibit us a race mentally de. in rank, has told me, there is no chance for formed, diseased, and ready to die. While a heretic; that he did not even stop in pur she has produced some of the world's best gatory, but went straight past into the low men, the majority have not been, and est depth of perdition. Now you say you cannot be, under this peculiar training, say you will pray for me; but if I am damn noble, good or great. Mr. Headley has ed at the outset, your prayers will be of no expressed himself very distinctly, on this use. “Oh,' said he, “I will pray that you


Whether Italy will ever assume may become a good Catholic. “I am much obliged to you,' I replied, “but I wish no

her place again, among the nations of the such prayers for me, with or without mo

earth, is very doubtful. If she does, she ney. I am a confirmed heretic, and desire will be the first nation that has grown to remain so; so good morning? With this old with decay, and again become regeneI put my money into my pocket. He saw rated. In this respect, nations follow the it disappear like a treasure going into the law of human life.

If age once seizes deep, and wriggled and leered, till his sim upon them, they never grow young ple face expressed more shrewdness than I again. They must first die, and have an thought it capable of doing. Oh,' said he, entirely new birth. Everything is now

I will pray for your body, that it may be old. Cities, houses, churches, and all, kept well.'. No,' replied 1, the doctors

are old. The whole economy of outwill take care of that; besides, the soul is ward physical life must be radically of more importance than the body, and if changed, to fit the spirit that is now you cannot say there is a chance for me as a heretic, and that you will pray for me as

abroad in the world.” such, there's no use of talking farther.'

The principles of truth-the world's The covetous fellow was cornered, and he conservative principles, are not there. It had sense enough to see it. He found there has been always the policy of the reliwas no dodging the point, and finally, with gious teachers and rulers of that people, a desperate effort, declared he would pray to fetter down their free minds, and enerfor my salvation as a heretic. I held the vate their spirits. The history of Italy money over his box, and said, "Now there exhibits their complete success. Nature, is no mistake about this, and no deception” by breathing her own spirit into them, • No, signore.' "Then there is a hope for has taught them all they know. Tyranme? Si, signore! I dropped the money in his box, and we then entered into a long ny could not chain the winds, neither has conversation about his religion. He said the bigot been able to darken the golden he fasted and scourged himself frequently; sky; and every hill and running stream, and that lately in one of his self macerations, and every star has spoken to them in the the evangelist Matthew had appeared to presence of their task-masters. Beyond him in the form of a baby, and that he ex this they have never advanced, and we pected another visit soon. At length, get- fear they never will. The government ting weary of his nonsense, I bid him good of that people, might have been, for many morning; and he shuffled away, wishing all the blessings of two worlds on my head.”

ages now, all that these elements of their

nature demanded; but the people have, We cannot close this hasty notice, with as social and civil beings, become more out a word farther, in respect to Italy and fully perfected, under Nature's tuition; the Italians. The condition of that peo. and now are demanding, though faintly, ple is peculiar. While there is intelli- a form of government better suited to gence, nobleness, and courage, in Italy, their present state. This causes their the mass of the people are ignorant and murmurings and uneasiness ; yet there is vicious, and cannot be relied on in an not life enough among them, or strength, emergency. Italy was great ; but she has or courage, to break the chains with been so long going to decay, that centu- which they feel themselves bound.


It is not a work of much difficulty to the calmest judgment to avoid sometimes write an ordinary commercial article for confounding that relation. There were a magazine. A few of the latest returns probably as many men in America who from the Banks and the Customs, a stock ascribed the derangement of the currency table, the prices of the great staples of in 1837 to the existence as to the absence the country, and a slur at the Tariff, con of a National Bank; and neither side stitute the materials with which they are was without plausible ground for its view. generally made. This is surely not all There are now more persons who consiwhich merchants, or politicians who der the present prosperity as the consewatch the progress of the United States, quence of the freedom from any regulahave a right to expect. They want broad tion, than there are who regard that very views, based upon extended observation prosperity as an indication of the neces. of cause and effect in the commercial sity of applying in season some sort of world. We know better what it is they control. do want, than how ourselves to furnish In the mean time, the government of it. It requires a combination of materials the United States remains passive. It is not always equally at hand, and a power somewhat questionable whether any zealof philosophical deduction which is not ous attempt will be made even to return the lot of many men to possess. We lay to the lame expedient of a Sub-Treasury. claim to neither, and yet we deem the When in 1837 the Secretary of the Treapresent position of the country sufficiently sury found himself completely paralyzed interesting to warrant us in throwing out by the general suspension of specie pay, a few general reflections upon its cha- ments on the part of the Banks, in which racter.

thirty millions of the public funds were The most obvious feature of it, is the deposited, he then very naturally turned absence of any system of regulation of his attention to some mode of preventing the currency of the country. After a for the future a like embarrassment. The period of severe distress following hard country was fortunate in being in a state upon the discontinuance of a National of profound peace. What the effect Bank, a new period of great ease and would have been in case of war, it is not prosperity succeeded, and still continues. easy to say. A national system ought There are many who, as they despaired to be predicated as well upon the probaof a change from the former, are now bility of the one contingency as of the correspondingly sanguine of the perma- other. Ours is and has been nothing nency of the latter state. They suppose more than a string of expedients. The that the great problem which has puzzled first National Bank was the offspring of economists so long is at last solved, and the disorders consequent upon the Revothat after all the real way to regulate the lutionary struggle; the second grew out financial affairs of a nation, is to let them of a feebly-conducted war. Each lasted regulate themselves. It is useless to re its time, and then there was an eager

this common tendency to look searching for new experiments. The only upon the surface of things. Politi- democracy of President Van Buren and cal economy is to most minds a science Levi Woodbury, profoundly shocked by of misty theory, because there is a much the test of the infidelity of the whole greater tendency in writers to substitute brood of rotten Banks, into which they their hasty conclusions from partial views had breathed all of vitality they ever posfor the more difficult and labored process sessed, threw itself for protection upon of induction that flows from extensive the reserved powers of the Government observation of facts. There is moreover itself. They argued as the miser does, a great need of resort to crucial experi. that after all there was nothing like the ments, in order to arrive at any reason strong box. The result was visible in able certainty of the exact connection of the Sub-Treasury. But that system, even cause and effect in events. So great is during the brief period that it lasted, never the number of disturbing forces operating was in truth what it professed to be. The upon them, that it is barely possible for repeal of it was the work of the Whigs.

mark upon

It remains to be seen whether, now that where. It was this which had brought the Democrats have recovered power, in quantities of wheat to a people able they will restore it. The inaugural ad- to supply, not themselves alone, but the dress of the President, and the silence of world besides. It was this which had the government press, argue indifference carried up the value of imports to the to it, to say the least. There may be enormous amount of one hundred and many motives which would dictate a for- ninety millions of dollars, in the single mal renewal of the proposition, besides a year 1836. It was this which gave a conviction of its intrinsic merit. It was great excess of imports over exports duan expedient, and it had its day. Times ring the whole period of the prevalence have changed, and there appears no pre- of what was called the Compromise Act sent necessity for action upon the subject. of 1832, down to the year 1810. Even It is not to be supposed that the adminis- after the scale of artisicial prices caused tration which has opened and is pursuing by the expanded currency of the Banks, different and more interesting objects, will the original inducement to these excesembarrass itself unnecessarily in taking sive imports, had been done away by the care of futurity in this particular. If the failure of those Banks to redeem it, the Sub-Treasury should be adopted, it will fatal effect of the system remained. It be only in form. The Government will pressed upon the industry of the people, continue to use the Banks through its struggling for the reduced wages of its agents, much as it now does directly ; labor against the competition of great and the present system of currency will foreign capital, wielding products cheaply be allowed to go on without interruption, wrung from the hands of a needy and just so long as it can go by itself. It starving population in the Old World. It will be only an urgent necessity which was not so much the payment for goods will give rise to the adoption of any new from abroad which made the paralysis of expedient.

1840, as the difficulty of selling anything What is then the state of our currency at a remunerating price at home. The in the United States in 1845? It is de paper circulation of the Banks had been pendent upon the action of Banks char- contracted forty-three millions of dollars tered by the several States, just as it was in three years; the prices of all commoditen years ago. These act without concert ties had been going down at a correspondwith each other, and without responsi- ing rate; and yet the stranger had the bility to any common head. The Govern- whole command of the market, because ment of the United States resorts in most he could afford to sell at the smallest liv. cases to them for the transaction of its ing profit, or at the least sacrifice, whenbusiness, but in some to individuals, ever a sale could be made at all. having in neither any security for its The adoption of the Tariff at that mofunds, or control over the agents it em ment, changed the whole face of things. ploys. The system consists in there be- The people began to draw breath. Iming none at all. If it will last forever portations continued for some time, it is as it has done now for four years, then true; but having been made in the face is it indeed the euthanasia of a national of a low scale of prices, under the delucurrency

sive idea that the advance of duties would In order to form any opinion of its du- raise those prices, they paid little profits, ration, it will be necessary to look back and inspired no disposition to extend and see where it commenced. Up to the them. The first sensible improvement period of the adoption of the Tariff by was in the firmness of the domestic marthe Whig party in 1842, there had been kets. The lowest point of prices had no symptom of relief to the distress of been reached. Trade then began to asthe country. Without intending to claim sume its natural channels. The Banks, for that measure all of the prosperity that which had been busy in contracting all has ensued, we have a right to assume obligations until they had almost put a. for it that it came in just at the right mo stop to the formation of new ones, found ment to revive the drooping energy of the a farther perseverance in their policy unpeople, exhausted by the drain of its re necessary. With the returning confidence sources to foreign countries, which had of the community, their resources became for years previous been going on under the more available. The process of liquidaoperation of a scale of prices created by a tion which had been going on for three redundancy of paper money of banks, and years, gradually accumulated a great raised by it much higher than ruled else. amount of capital in money unemployed.



While in 1836 the community was gorged tion of the present revenue can with with paper and yet demanding more, in safety be recommended. 1842 and 1843 it had little and wanted Assuming then, for a moment, that the little. The wheel had been turning so Tariff of 1842 will not be essentially long that it had got completely round, changed, we have the great element upon and the currency was beginning a new which the safety of the present no-sys

tem of the currency rests, still undisturbIf we are correct in our conjecture of ed, and the experiment will go on under the effect of the Tariff of 1842 upon the tolerably fair prospects. We are, neverpresent state of things, it becomes a mat- theless, entire sceptics of its ultimate sucter of some interest to know what the Without presuming to go over the probability is of its continuance. It is ground so often trodden in the contests well known that the party unfriendly to of the last ten or fifteen years, we must it is now in possession of power, and that yet be permitted to maintain that no exit will modify or repeal as it can hope to perience worth having, in any country, be sustained by popular opinion in the has yet shown that the currency of a act, but not without. Had the revenue country, when made up of paper resting from customs been as abundant this year upon credit, can be safely left to regulate as it was the last, there is no doubt that itself in irresponsible hands. The pro. some modification of its provisions would gress of the last three or four years proves have been sustained. The contrary is, nothing on one side, any more than the however, likely to be the case to a suffi- distress of the preceding years does on cient extent to remove all argument of the other. The excessive revulsion from necessity on that account. There will one to the other, the great swing of the be no great surplus to brag of. From pendulum carrying with it as it does the present returns of the first half of the fortunes of myriads of individuals, proves year, it would seem that the receipts for more than both. It proves that some 1845 will be less than those of 1844 by system should be devised, no matter what at least one-fifth of the whole amount. It it shall be called. Whether it be Bank, will scarcely be the part of prudence in Sub-Treasury, or Exchequer, so long as Government to recommend a measure it shall prove effective in bringing the having in prospect a reduction, in the entire circulating medium of the Union face of this decline; more particularly to a specie standard, and keeping it there; as, if the calculations of the friends and the friends of a sound and stable currency authors of the system itself should prove ask no more. They ought not to be sawell-founded, a decline in the import of tisfied with less, or that nothing at all dutiable goods will hereafter go on in should be proposed, or that what shall be proportion as the manufacture of them proposed prove little likely to effect any becomes established here. This expecta- really good end. To them it ought to be tion is likely to prove well-founded in no argument, that things are going on the great article of iron, at least. A con- well enough of themselves. Supposing, currence of circumstances has had the for a moment, that the fact be granted, is effect of raising the price of that article the inference also to be conceded, that 60 high in Great Britain, as to stimulate the virtue of the present“ well enough” to the production of it in America, at is in the let alone policy itself, and not least to an extent to supply the domestic in mere chance? As well might the capmarket. Considering ihe peculiar quar- tain of a ship argue, that because the ter in which this great article is most helm may be left without a steersman in manufactured, may admit of a doubt time of dead calm at sea, therefore the whether the Administration will feel in- vessel may be safely trusted to take care clined to disturb that interest seriously; of itself in the next storm. and if it does not, it will not be easy to The operations of commerce require peframe any general modification of the riods, of time to develop themselves. From system of which it makes so material a the spring of 1837 to the autumn of 1842, part. Neither does it appear probable, the revulsion consequent upon the susthat in the present somewhat confused pension of specie payments had its sway. state of our relations with foreign nations, Of the suffering of that time, it is perhaps when the necessity of increased expenses unnecessary to remind our readers. Its in preparation for any result that may cause lay in the necessity of submitting to a take place is pressing, a material reduce steady contraction of the paper circulating

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