Phenix gazette. [volume] (Alexandria [D.C.]) 1825-1833, 1831-04-11
MIR. burgess sPEECH-rCO>cLuDED. ]

This establishment Is utterly luSOiNent. II Is
the instrumen, of prescription. Its concerns have
BEEN as we have seen, most traudulently con-
Quoted; aud, under the Amusement OF the cabinet,
is modelled into system OF political espionage.
Every Deputy Pest Master is directed TO insert
in his return the title Of every newspaper, re-
ceived at his office for distribution. BY thus return
MIR. Hobbie mot the Postmaster General, Tor he
is laid NJ out of the combat( can place under the
eve of Mr.. Van Buren,. the name, and he knows,
the political character of every newspaper, read
~ every city, town, village and neighb0rhOod IN
tbe whole country. Win an independent and
free people, always endure such lockers into
their own affairs: such spies upon their IN eSde
amusements: Let them once know their inju-
RES. and they perfectly understand, and will di-
Iigently apply the constitutional remedy. The
President has under the same adriSement, placed
= deem censure on the Bank and currency OF the
United States. This was advised by Mr. Van
Buren,, doubtless to give to the banks OF this CT
". the expectation on the overthrow OF that Of
the Uaited States, Of receiving aud disbursing
the national funds; aud thereby to reconcile
them to the system Of guarantee, which ne had
placed upon their transactions. This isht have
nroLuccd some eject, had the subtle p0ison been
yended without the altidOte. The splendid
scheme Of a treasury bank az Washington; So
dazzlcd his imagination, that he could not cx
clde every glimpse of il, from the message; and
thus what he mi sht have gained b. his proposed
destruction Of the Bank If the United States,
MAS placed beyond his reach by disclosure Of
the political mastery that was 10 be raised up IN
its TSlce.
The custitutionality Of the United States Bank
- questioned by the Secretary III the Message;
and he further alledged, that this Bank has fail
ed TO establish sound and uniform currency
throughout the Country. The Constitutional
question has been settled by The Supreme Court.
What does Mr.. Van Buren, intend by sound
currency? He should mean, and therefore, tor
once. will believe he did mean, currency,
equal in value 10 the silver aud gold coin of the
United States. Every bank bill OF any amount,
which NAV, on demand. at the place where it is
PAYABLE, be converted by exchange into gold or
silver coiu Of like amount, must be equal in val
Ne To- such amount of coin. Nav not this be done
with ever, bill of the United States B4.k: No
man will deny the fact. lfthen such coin be a
sound CURRENCY, such bank bills must be equal
lv a sound currency. This allegation against
,be Rank Is. therefore, uniounded; and must
have been made either without knowledge OF
the facts, Oh With TO intention to State them cor
rechy. Is not this Bank currency quite as uni
form as gold and silver currency? VIII not a
hank bill at New Orleaas, and payable in that
CITY, exchange for as much gold and silver coin,
as a bank bill of equal amount, payable IN New
York can he exchanged for in this city! Will
not one hundred dollar bill, at New Orleans.
if PAYABLE there, exchange for one hundred silver
dollars, or for ten eagles; and will one hun
hred dollar 5iii at New York, If payable there,
exchange Cor any greater or less number OF dol
lars or eagles? What then does the great hnan-
cier of ,he State Department, intend by want
IN This limited States Rank rur
cy?
PERHAPS Ne objects, because the Bank does
not promise 20 pay, aud actually pay its bills of
one branch, at any, or all other branches Should
II do this, the same Obj eCtion mig be made,
less il promised 20 pay, and actually did pay,
them at any or all other places. He, who coull
not oct one thousand silver dollars for IA bill of
that amount of the New York Branch, ifhe call
ed for il at the Branch IN Boston, would have
no more reason to complain OF the refusal, than
if at Worcester or Padtucket, he might want fhe
like accommodation, and not be able to obtain
II. The objection raises question OF exchange
aud not of currency; and lies with more weight
against coin, than against the United States Bank
bills. Indeed such bills are almost as much
more near to uniformity than coin, as they are
more easily transmitted from place to place, than
like amount in gold and silver could be trans
ported. Imagine for moment that our whole
currency were gold and silver coin, If man at
Providence desired to invest $4,000 at New
Orleans must he not, unless he could purchase
bill Of exchange, payable in that city, transmit,
at whatever cost Of risk and labor. the whole
amount of coin to that paces In fact, in all
countries destitute Of the accommodation of bills
of Exchange, or Bank with collateral branches,
gold and silver is worth just as much less in the
place where tits not wanted than 1t Is IN the place
where it is wanted, as it will cost 10 transport
il from one to the oeher. Any amount OF gold
aud silver is, in truth, like every other commod-
itv. of the same uniform value, only AT the same
time and at the same place. The nature OF things
cannot be reversed; and we must govern our IN
stitutious according to their laws. Unti! we can
abolish time and space we cannot abrogate our
exchange that subtle mystery OF trade which
seems to be too evanescent for the matter OF fact
Intellect of the President; and yet too we'll known