Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1834-11-10

his parent of dangers set in hts pain though that pa
| real IN the excess Of selfconhdcnce should turn a
i deaf ear 10 the warning, or even disnhera I'm Tor
e,stn. il he would tel Virginia want SIC iod TO
/ exprei. explain TO her the choice 81 oxs which he
thought lay before her, and inyoae her ii.nfly mn
deliberate consideration ofthsm # he were sare tho
she would be oiftn1ed by his zeal and freedom anu
in her anger discard him from her service iofe'e'
lie would tell the pronle Of ytglnia. thai,-soPfo
sng the ba,k guilty. ofeyefy sfe nat ha' os'"
charged npoa u, aud allowing If toba a 1la2cre9s,
corrupt and torruplus. IS I'll a. unconstitutional
institution 1T vas yet more ngerons md 1t was
wholly unnecessary, to eoneedo 81 saneiipe aa Ar
! binary posef 10 tho Exern'iYe to pr Il dp%n.
| The Bank mnst have gone down oi tfstIf aud In.
| in very short ume--the assumptions nl power ny
| the Exaeu.iye II a9preyed and all wed, would b'
r.t,bllsle md sand an example tu tins. Inc
/ bank ssa m ieed mohStsr,li Il voc u ecssary
/ Tor is destruction, TO admit nnd maintain nudihfr
/ minister Which was capable Of destroying Inc
constitution rs The bank-monarch'ca prefosa1fo'
/ lie would sill tell tho peops Of Virginia, thai, ~
his OPINION founded on long and a1Kp1s fehec ION,
nothing would be ultimately ed 10 them but
choice Of owls IL would tel ii m hat the o.
lection 10 a national bank constitutional grounds,
was. nn1 had al3nys been, cou6n i 10 Virginia,
AMI n few 4 very few, other Ststcs Of he Dnion
thai Therefore. whenever noy administration SHOULD
think IT txps1cn', % whencytr, nj any momanfthc
! opinion e is policy, much m re Of is nfe7 'siy,
/ should become general throughout lhi Union al
large, as it happened IN lsl3 Ii, "A hniohal bahh
would be created, ~ spite Of ouf opposition hh9
thar this was n Consideration, which, as II could
no .so be put fside ought never to he oycfio'ohed
in our ,sula ion ofcoos Ilanc's. II was dilepll
10 conceive, how this nation could bang gether,
IN rs present state OF P9lrlea UNION nnd enmmer
cal frlpooos without general oati"rm currency oil
.onekind or othcr-he believed the Indispensable ne
ccssiy OF such currency vas universal admit
|, was difficult TO conceive no the state banks
could furnish s1,h u currency b cause Il for no
other rem on, even sup sing their credit soIld
vet owing to fhs mutitnds ofthem, IT @oul bc I'M
possible for people ~ distant paris to b. informed
or thr siafa Of thcir credit hg able 10 IIse OF The
commences Of ncir notes. But their paper wond
supply the 10 al currency. II was dahcnIt to con-
c. iye any maaas wlhin the coni'ltttoni comp
tcnev of the federal government by which he stotc
bank system could be suppressed, or Tho cxitn5oh
Of II by tho States pfcyebci-or any constitutional
means, by Which even lhair small 40 e could b.
irn WI oul Of local circulation for, 10 tbe scheme
which hid been suggested of suPPtesslas them b,
The imposition of federal stamp duty, II could nol
have been well considered /, was pntily uoc1n.
slltufiona and II ptrYcrson Of n
mother nnl wholly ddT.rlnt p.ppos' Which !
would be found, in practice, the mos, sweep !
ing and dangerous of al the sYatcms OF enpsrnc ION
thtt had yet been invented Aud 50 long ~ the
State b INK system should continue aid the State
banks should remain N any eolnurabe state OF Gre
dl he could not see how II was possible 10 res
tore hard money currency, 4ch measures us
tho Gold bill, and others winch the federal govern
mont was competent to ad0pl, mi hl have the eli Ct
of nfusins larger portion Of specie IN the general
circulate 1n-and IN his opinion the more the better
but the to,ut of his re0 clons the subject was
that the effect Of such ea4ufes would b. very par
ual md limited indeed An him $ consldete the
institution of national ban ould present llsei. as
the easiest method at least, Of pro@dng general
uniform currency for tho whole Union and II
would therefore, be tesortcd 10, by those who
thought such ~ institution constitutional as well
AS expcdenl and adopted, If thry had the nsjoriry
Aud then, those who thought II unconstitutional
and dangerous, must take that scheme of national
bank, which, IN their opinion, would b. most ca.
| pahe OF good, nod least capable oil mischief. And
thus II was that 1t would happen that the question
ultimately to be derded-the question VIC should
have TO consider at last, in spite of our tcch-
would be- not whethc, there shonld be national
bunk or not but, what sort oil bnak u bank viii
n capital of 100 Ol9 nOD or oil 5p33 0ao 0OO-t2o,
00o oDO or 2D0oo00O n bank subjected to lhe
absolute control and direction Of the Executive
or one placed undct the qualified control aud dree
| non of the Sioekhold rs MI l.. sand, he knrw
we'll any body, that all reasoning IN politles,
all reasoning from the p,sl aud present 10 thu
future state OF thmgs,-was, in ITS very nature,
fallbla an when his mind anticipated oyil, no
one would be happy as lac should be, if his an
prchensons shout ptove unfolu1Hd. But, il the
present instance, the cham Of pf0b0biiti'cS hung
to.oth by such IN assIye Links, lhll IT WAS woLdrt-
| tul 10 him TINT they were rot visible 10 all eyes.
| Those ptab thdilics depended on the regular opr.
ration Of political causes, mud rou uo"se be- al
! focte 10y hellef That tha results woll or would
not happen. In the name Of common sense an
common prudence, why was IL offensive 10 eX1lbii
such ycws these to the people, and 10 ask then
consideration OF them We're presases If evil
even surprising them the o'fypimg of an over-anx-
lous mind to BE- regarded proof OF desire 10
promote evil II any man sincerely think So, then,
said MIR. l.. " him have oaenIrd, but offended
eut Of zeal to serve. Andn to those who do not
think 80, md yet say so, II were iltc 10 dcprccao
their opposition.
As to the place Of deposit oftha public treasure
of the Unlcd States anl the disrlbu ION and dis.
bursoment Of H. Mr. l.. had recently inlimated the
opinion, that tho true principles OF the constitution,
according to the intention of It's founders, would
roqerc, that the rco sury should be divorced tom
all conncxton with any hank or banks, state or fed
cral The same proposition had been suggested
by Mr.. Gordon, at the last Session Of Congress
and the hint of il, in truth, was given by Mr.. JEFF
terson in letter to Mr.. Galaln, in 1903. A reg
uatIon of the treasury that prlnclplo, siln,
pie caough-Let general treasury niftc be cstab-
shcd at tho seat Of government under the man.
agement Of treasurer, and local treasury Offices