Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1830-04-16
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TRIDAY MORNING, APRIL 1e, 1880.
Tie Currency Repor!.-The report made to the
Senate BY Mr.. Smith of Maryland and published to-
day is very clear document, proving the sound
condition Of the national currency IT'S ccnazaton for
all valuable purposes, and demonstrating the inutv
and danger of that monster, Government Bank.
recommended to Congress in the Presidents Mcssap re-
The answers of the President of the Bank of the
U. .. to The ntcrroga'icns of the Comrnittee-"hat
'here W. but few State Banks which mirht no.
nave been destroyed by an cxeron of the power of
'he u .. Eank-and that it is the object of that
BANK TO keep the State Banks thin limits and make
."em shape their business to their mcans"-haye al
ven high displeasure to Lieutciiant Webb Of the F.
New York Courier. We happen to know hath
U. s. Bank was created for the very p,rpose Of te.
ing the State Banks within limits, WHO bss,, :.
origin had dcbased the currency of the co.,n,rr o.,
raised every thing by the depreciaa- f tbo;, 80
to the most ruinous prices, snieadne ruin mi, II;
rec'ions, when the bubble exploded ms din r.; 1910
and 10 or;cvc that the restraint thus exerc;sad
upon Tie State Banks, saved The Government from,
bankruptcy, and the Nation from calnmities such nc
attended the forced circulation of French Assinnn,s
All Banks arc curses, but the State Banks without
the bit put INTO their mouths BY the U. S. Bank would
be ha rd masters.
The tact was late!y stated in this paper on the
a"'hori'y or letter from Washington, that not one
OF the iFesidents recommendations (excludng his
'''''0ns' some OF which, fare no better had been
apF-ovedby Congress The instance is without nrc.
ccdent, and proves the crudty of his recommends
tions and the knowledge of Congress, that thew
were for the most part, New York projects, slpped
III by the artifcer of the message This report ~,
n. is yerv urid nd ;nJo
OF the absurdity of the project for Government
! Bank.
The National Intelligenccr of Wednesday. STATES
that on Tuesday, a report on the same subject w.,
made TO the House of Representatives bv MIR. Nc
Duhe' Chairman of the Committee of WAYS and
Means decsively affirming the constitutonality and
necessity of the Bank of the U. States, and disan
proving the New York scheme of Government
BANK The lntelllgencer thus speaks of the report:
NE NATIONAL CvRREN.y-We had the pleasure a few DAYS
,eses s our reae luminous report Of the Senate
seney according throughout, views which we have
the nigh qualification Of being able tina, report was
& nay maze IN the House Of Representatives from eo-
tee of Ways and Means which honor TO his talents and
20 10 The mependenee and industry of himself Commit.
ne report is OF such length that know whe,
we sha be able TO publish it, hui of interest that no read
The Ccnmee have every point of The question
am nohns shrinking from no difficulty avoiding respon.
ona Bank Residents Message an Ms
three great general heads divisions First the rover
oil The Government TO establish Bank an agent for be cor,
rect and proper administration of the concerns of the
i Ieeony the ekpedieney of establishing with
aid thirdly the expediency of substituting for such BANK
the President D"''' O. f''p0Seu III Inc message OF
Zach Of these poin very fully concusivey argued in
e ito ne decision OF the committee unequivoeay in
The affirmative on the two first of these questions and as dec
edly IN the alive on the sird The objections To
Government Bank, financial measure are
stated and the climax of the objections IS presented in
themselves folowe: ~ ' ' 'r ~
"bu the inevitable tendency of Government Bank 10 in
v0avs lie country IN paper system, not the opinion of
me Sonntee The greatest objection The powe-and In
the hands OF bad administrations irresistible and corrlnI
ing nhenes which would exercise the elections The
eolIy constitutes an objection imposing all the
diners united No by means an administration
hands, would be almost impossible 10 dsplace item rsont
some Miraculous interposirion If Proridence."
or report thousand copies were ordered 10 he printed
| ior the use OF the House OF Representatives.
| Tie Great Buffalo Roud-Oa Tuesday the Com
mttee of the Whole got through with this bill. Sc
verai members having spoken for and against and
the call for the question having become general if
was at length pat striking out the cnacnr clause
ana decided in the ne sativc ayes "a, noes H. The
Committee then and the bill was reported TO tie
House.
ms Is strong, perhaps certain assurance, that
the bi!! will pass the House of Representatives
me senate may possibly thak it inerpedcnt, BIZ:
decisive majority in that body sustain the constu
tonal power.
we want no such bill to PISS Congress; bat VIC
should Ike to the "Grcatest and Best" brongIt
10 the sticking point. we should like 10 see ifbe is
that friend Of limited construction which orr consis
tent neighbor proclaimed him through his Nashville
and Washington correspondents, or if he regards Tie
oGnontlons given him from the same quarter, on tls
very subject ofthc Buffalo Bill! Should he be brourbt
to this sticking point, predict that his professions
on the subject of constitutional Interpretation Will
turn out exactly did his "Judicous, Tarif-.tbst
IS that his opinion will be that ofthc majority of Con
gress "
H. The Senate didnot close tbe;, 7oo-. 49, IT,,