Alabama state intelligencer., 1831-01-19


 calculated for this sign, because they are du- rahle and are capable of many subdivisions And i,recious metal is still better calculated for this nurpose, because 1t is more portable. fl netat is also most flrofer fof common ,ueasure. because t can easily De reduced to tbe so,ue standard in aU nations" :" Here we have the definition of money and the excellent reasons why it should be metallic. Now, as to coin. ssCoin seems to come from the French coign, that is, angutns, corner, whence it has been held that the most ancient sort of coin was square, with corners, and not round as it now is. It is any sort of money coined. Coin is word collective, which con tains in it all manner of collective stamps and species of money in any kingdom; and this is one of the royal prerogatives belonging to eve ry sovereign prince, that he alone in his 'do- minions may order and dispose the quantity, palue, and fashion of this coin. But the coin of one king is not current in the kingdom of another, though one king may make foreign coin lawful money at his pleasure" This quotation shows what is 'scoin, who may re- gulate it's value, and also, that of foreign coin, of which our clause is a close imitation. MT Blackstone observes further, 'with respect to coinage in general, there are three things to be considered therein: the materials, the im-
 
 gard to the materials, Sir Edward Coke lays it down, ssthat the money of England must either be of gold or silver,' though copper coins have since been introduced" &c. He proceeds to the mention of the impression, denomination, and many other matters on this subject, not necessary to our present pur- pose, and we have been thus particular to shew, first, that ifthe convention did not alter the names borrowed from thc common law, they must be understood in the manner they are used, whence they are drawn; and, se- 'condly, to shew that fiAfer currency was never considered, iii the remotest degree, re- lating to the coining of money, or regulating it's value; and still less, that it was ever used as SYNONYMOUS with 'scoin;" and such has always been the interpretation of Congress in 1egislating upon this power. There is not an act of theirs, in the establishment of the Mint, or the regulations of "coins or money, that is not in perfect accordance with the principles above referred to, as practiced by the sovereign power of Great Britain; or in any manner favoring the new tangled con- struction set up by the committee
 And, besides this view of the subject, which would seem to be conclusive, what can be said, what tongue will not be mute, when our last argument on this subject shall be heard? And it shews how dangerous it is for States men to probe and feel for power in the con stitution, with view to establish a favorite theory, without proper knowledge of the organic structure of that wonderful instru- ment. When the question to grant the pow CT ssto borrow money," was under discussion, there was connected with it, in the reported draft, these words, sand emit bills on the credit of the United States"
 A motion was made to strike out the words srand emil 6iLs," which was carried, nine States to two. Can any power be more sub servient to that of raising armies, borrowing money, laying and collecting taxes, transmit ting funds, regulating commerce, indeed to do every thing that can promote the public defence and general welfare, than this, of emitting bills on the credit of the U. States, and yet the Convention would not grant it Where, if paper currency was thought to be necessary and froher, was there better opportunity for the grant than at this partic- ular juncture? Will they incidentally confer upon a hriDate corhoration what they e1- hr.esslu denied to the Government itself? But it may be supposed that the Convention struck out the power because they believed it was fairly to be inferred, from those al1ea- dy granted. If such a delusion be not too deeply seated, we think we have for it com plete relief In the progress of the debate, MT Luther Martin, member of the con- vention, and one of no common powers, con tended that Git would be improper to deprive the Congress of the power to issue haher mo- s1ey: that it would be a novelty unprecedent- ed, to establish a government which should not have such an authority. That it wasim possible to look forward to futurity, so far as 10 decide, that events might not happen, that would render the exercise of such power absolutely necessary" These were his argu- ments in the Convention, and when they proved unavailing, he wrote home to his Le- gislature, that Ga majority of the convention being willing to risk any political evil, ra ther than the idea of ''paper emission' in any possible case, refused to trust this autho- rity to Government on which they were la wishing the most unlimited powers of taxa tion, and to the mercy of which they were willing to trust the liberties and proper ty of the citizens of every State in the Union, and they erased that clause from the system." (Yates' Debates, D. 75.) These are the sort of arguments upon which stand the constitutionality of the Bank Charter! For the safety of their cause and the sake of their regulations, let the committee take back this nezc trial argument, resting upon the grounds of fresh .discoUered testimony found in the clause s'to coin money" and let them be candid enough to own, that if the Convention would not trust their masters to ssuehaher money, it would much less con- fide such suspected power to the veriest s'moncy changers" of the nation..
 We have now done with the Constitution al part of this question, and shall proceed to consider the subject in reference to its expe- diency.
 NETWORK, Dec. 2o.
 The New British MinistryA change of Ministers in government like that of Engand is always important event. and especially when has foundation in change of principles and policy. Such undoubtedly is the present. Instead of Tory Cabnet opposed to general