Daily Richmond Whig. [volume] (Richmond, Va.) 1828-1831, 1830-04-16
Rteats,t0 QUO 9asNt0.
FRIDAY MORNING.. APRIL 10. 1870.

FRIDAY MORNING. APRIL 10, 1880.
The Currency Repor-The report mado TO Oh.
Senate by Mr.. Smith OF Maryland, and rublisbed to-
day, is very clear document, proving tho sound
condiiiun Of the national currency its ecuelzaiouf for
all valuable purposcs, and demonstrating the inuty
and danger of that monster, a Government Bnnk
recommended TO Congress in the Presidents Messorr
The answers of tho President of the Bank Of the.
u 5. to the in,crrogatcns Of the Comni,tee-oqlnt
there were but few State Banks which mirb, no.
have been destroyed by an cxet,ion of the power Of
the U. ). Bank-and that it is the ohicct of Tint
Bank TO keep tho State Banks within limits and make
them shape their business TO their mcans"-havc ri-
ven high displeasurc to Lieutenant Webb Of tie
\ Ne" York Courier. We happen TO know that Nh,
u 3 Bank was created for the very purpose of keen
ing the State Banks within limits, who before il.
origin had tcbascd the currency of the country and
raised every thing by the depreciation Of their notes
to The most ruiuous prices, spreading ruin in all d
rectIons, when the bubble exploded as il did in 1878
and TO believe that the restraint thus exercised
upon the State Banks, saved the Government from
bankruptcy, and The Nation from calamities such as
attended the forced circulation of Frcnca Assignats
All Banks arc curses, but the State Banks withuu,
the bit put into their mouths by the u S. Bank would
be hard masters.
The fact was lately stated in his paper on the
authority of letter from Washington, that no, one
Of the Presidents recommendations (cxcluding his
nominations, some Of which, fare no bcticr) had been
approvcdby Congress! The instance is without pre-
cedent, and proves the crudity of his recommends
tions, and The knowledge Of Congress, that they
were for the most part, New York projects, slipped
in by the artiliccr of the message This report OF
Mr. Smith is very lucid and independent exposure
OF the absurdity of the project for a Government
: Bank. (. ..
/, The National Intelligenccr of Wednesday, states
that on Tuesday, report on the same subject was
made TO the House of Representatives by Mr.. Nc
, Duihe, Chairman of the Committee of WAYS and
Means, decisiyey affirming the constitutionality and
necessity of the Bank of the U. States, and disop
proving the New York scheme of u Government
Bank The lntelligoncer thus speaks of the report
TnE NATIONAL CrnRrNcr We had the pleasure a few DAYS
ago. 10 present TO our readers luminous report the Senate
COMMITTEE OF Finance upon the subject National Cut
Tency according throughput vies which we hays
heretofore had occasion take subject we have now
the heh erauhcaon Of being able that repot, Yas
queni and able reu ofMr NcDue Choiran Of IN. C '
tee Of Ways aud Means honor to his talents a
tee The report Of such length that we do M, Ino n
we shall be able TO publish such interest tina, mn e
s'' wn ne comes to Ieuse II, would wish shorter
lhe CCmn'iee have taken every point the question ra
S nours shrinking from difficulty, avoiding no resnor
sbhy Inc report examines question couc g.
tonal Bank, presented by line Pieis, Ts Na
oT,hoS sneIs heads or divisions viz First the rowe
reel ana proper administration financial coneeu Of %
v;w such az the present Iaat os & M'9 ha
dng, tTdy the e%pedency of substituting for such sat
the President ''r'''u III Inc message Of
Zach OF these points very fully and eonclusvelv apped n
the report The decision the Committee m ss ~
he Affirmative, on the FIRST these questions and ss
Guy IN TIE negative the th The various ob;eoIions
Bank as financial measure are perspcuousl
stated and tic climax Of objections to IS nrrr.eneS
. themselves, as follows " '''' '"'' may SPeaN i'r
Bui the inevitable tendency of C;oyernmrn, R,b .,
the Comm HpenTy N paper ysiem opinion Of
the hands of bad Administrations the ir,eSisbIe s IN
ing lnnenes which would exercise over the eeeti H.
others united No matter by what means an ,rInii. a.
ba6d e' nI power with such Tremendous engae in their
"n, would be almost impossible dsplaee them rrnIg
'o"f mneul0us iatoBosnoa n Propidsase" N''''"
~ this report ten thousand copies were ordered to be ns
''I '"e use OF 'he House Of Representatives. - F~
me CTer! Buffalo Road-On Tuesday, the Com.
InIttco Of the Whole got through with this bill So.
'erai members having spoken for and npninst mil
Tue call Tor the question having become general. :,
was at length PIT on striking out tho cnacting cans,
unu decided IN the negative, ayes 75 nocs II. Tho
committee then rose and the bill was rcporica "a ,I
! House. ~ '''
Inns is strong, perhaps n certain assiranep thai
the bill viii pass tho House OF Representative
The Senate may possibly think it inerosdien., bin,
decisive majority in that body, sustain tho cors,;,,
tionul power
VIC want no such bill to pass Congress; b1t We
should Ike to see the "Grcacst md Bes,n b.o,,.,
to the sticking point. We should like to 500 irbe :.
That friend of limited construction which our co,.,,
tcnt neighbor proclaimed him through his No,byill.
and Washington correspondence or if bo rc,,,rd. ,l
admont'ons given him from the same quarter on Fri,
very subject the Buffalo Bill Shopldbo no b,o,at,
to this sticking point, predict that hi, p,oto,,ons
on the subject of constitutional Interpretation vii,
turn out exactly os did his "Judicious' ToriF-,bo,
@ tha' his opinion will be that oftho majority of Con-