Speech of Hon Samuel S Blair of Pennsylvania Delivered in the U S House of

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I will venture the statement, that for more than two years past there has not been a furnace built; and those that remain in blast, unless en- joying some special advantages, have reduced their production in a manner corresponding to the limited demand ; many, unable to catch a ray of hope from the gloomy prospects that still lie before them, have with a wise and cautious prudence closed up their establishments, and others have been forced to sale by the sheriff.
The gentleman from Vermont [Mr.
... Moheill] supposed that furnaces, like ships, were not now worth more than half their cost ; but I do not suppose there are many furnaces that would this day bring one-fourth of their cost. The Government, too, without any cause for extra- ordinary embarrassment, is unable to meet the demands upon the Treasury without a resort to loans. Now, sir, what enemy baa done this? Has the Creator been sparing of his bounties to us? He has blessed us with a luxuriant soil and a healthful climate. He has sent us neither war nor pestilence.

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