Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-04-15

oi winch has ceased, and the country s,nnd IF Ii RS,
snd ~ IT. by the Bank of the u states are ncuren
ana iiiegh as tenders go that the peonia 81 d. Ii
States reduced 10 so small lie, p p .. me Omea
OF statute currency, Out of which 49,. ' Supply
paid That ii may be fairly assumed Tia, the wbois db,
part oil the community lie the mercy Of their crcJors
10 have their bodies JAIL or their proner,v sod fo
nonlng, at any time that their creditors please To such
condition are the free and bah.mpded iphab;,en,s 80
ms country reduced aud reduced bv the bower anil
policy OF the frs, second Banks of The u States and
The controlling influence which thew have sx.;d :, u
the moneyed system of the Union i H." t U,er
down 10 the present day. ' ''' ''"' i''i
|
" Mr. Benton expressed his satisfaction AZ 6nd;pc az
many points Of concurrence between his sentiments
currency, and those of the Senator from s. Carolina (Mr
sPecie,-evls of excessive banking and the evsnins
suppression OF small notes,-were ali points in which thew
agreed and which he hoped they should be found act
ing together when these should be nut 10 The feat
o. legislative action He regretted that he Could no, CON
eur WIN mat Senator on the points which all the
might be found TO be subordinate and acceesoria
Tie alluded to the prolonged ence OF the Rant of The
I, e' AND especially to the practical views which
a SENATOR had taken OF the beneficial operation OF that
lnsuhhon' hrsf, asthc REGULATOR OF the local curren
e. ana next as me supPLIER of general currency
10 'ne Onion. On both these points he differed nmea.
suraoy differed from that Senator; and dropping aI other
views OF ihat Bank, he at once 10 the pont which
The Senator from South Carolina marked Out as The r
ahu practical question OF debate and would discuss that
question simply under its relation 10 the currency. no
view me Bank simply the regulator of local
eu''e.'les anu The suppcr OF national currency and
give ms reasons Tor diering,iNe ceably dif-
,eLs'-"om Inc senator IRON South Carolina OH these
|
~ MT b. took three distinct objections TO the Bank Of
o''oS as regulator oi currency; l. That this was a
States; That il xii MO 10 me government of the w.
w, 70 TI Ie uelegaied 10 any bank.
said, wa. on o, ne currency Of nation, Mr.. b.
vas one o, .he highest and most delicate Of sove-
,'s" po"er. ~ was precisely equivalent TO the power
~ -, .eneSi 'or power 10 make more, less, was,
III ehee'' power to make much, or none Ii was the
coming power; power that belonged TO the SOVEREIGN:
% pSpep eurreney was tolerated, the coming pow
which emitted parep anu sup by the mandatory
nj
;o @ ,i "ss, me enera bank was the mint iorissu-
parj,g eoId and i,' ':. was mandatory for pre-
n lie t io, s,,'er LOT expectation. The States,
in" ~" or'" =" OF The Constitution gave the coin
anIhar;,v 70 GVhsres. win that power they gave
regulating the value Of cold ae o, 'ne onon 10y
ven,;n~ anu lii; 49, VI goiu anu silver, and pre-
~ nny in'ng bn' metallic money from being
else Of ,hs -. rSymem OF debts. II is by the
rreni,c III u'a az we ederal Governmsnt is 10
-, ~ INC nc currency oil the Union; and all the depart
in efecing Tho oi ore required 10 act their parts
n'on, e IeSiauob me Congress- as the depart
s, ias,e me raw tle President as the authority
frIIv xon'I NV, ~, approves IT, ana sees that il is faith
debior and creditor and a. standing between the
beno i;.rh.ra, H. Gnu PREY hnhg me execution from
that >, ,be a, ~ my ming ont gold and silver, and
cd Tb;s 10 H. '"e legislative department has fix
rencv which die TIi u soe power OF regulating cur
S "nen we F9Herai constitution contains; this pow
nar, ~ :; =" 'ie eueiai government, not in de-
] & w. ~, uu. ~ lhe JOINT action oil the three depart
yernmcn, Tho cm,rs pM n Is exercised ny The CO.
i,eI ai IL ittney oi me Whole Union will be regu-
lion of the Constitution b according 10 the inen-
TO the noin, If necia ppg al me local banks up
value Of tieir np pSmeh'' ana thereby making the
q This Gre a, .nJ 'J 5i al. III 10 specie:
sacred eia,i ue"ea'e power, thus involving the
or fI in Tho y,In ~ "nu creIof' and the actual rise
lertook 10 affirm co,,JJ "n" properly, Mr. b. I'M
from the Stale (nvern,a, q asiegseu IL was trust
The Stat, Cov.r,uo.," t; w 'ne feucrai government
and ~, 1''es'ea themselves OF this power,
Tia excrc;se dS " government win 1t, and made
government anI ~ uP inc 'hree branches OF the
Ielera,o !, tIb ~ ,h new government could
which I,nv v eouu 1e'esa'e any other great power
word Of Ills re,,,; mu W execute themselves. Not
when the frs, S,n - pe', W.T. d. SAID, was heard of
pe,son ,yb;snaraI .ndI'ere" IN The year l79l No
bank ar ~, a, ,;, a. ,e"son or me establishment OF
an after ,bonam, @ moie conception IS Dewiangled,-
ban i,.su h, S,ns ou' oil me very evils which tho
10 he cured hv n,h 1poh Tue country and which are
the Congress ,pd M il war great oank alter which
small batks bv JI; 'tuue'ay WIN easily manage the
eyc,lng ev:rv nf mem up 10 specie payments, and
B. Mr. n GAY, ,is, H. n S from revenue payments.
gate ,ls mover ;f - I 'hlnen o"ght not TO dele
be trusted to snv hI;N ~ was 100 great power TO
authority but te bihs V,"Pahy Whatever, or to any
known 10 orr Sorr, - C ios. responsible which
| self ,sed IN he ;ndn,oni, Inc government IT.
the national curranor ~ EASES 10 De saie,-when
Goyernmen, can 49, ,.ie W" oil company The
war nor nc,re ;'t , NO sIea' enterprise, neither of
that company il Cannot 60, 'ena anu cooperation OF
ahead yyi,hoy, resrr; ., ~, W ior SIX months
friend,hip or ennis ~ % aeuon Oh mat company-its
see how f,r ,at ns concurrence or opPosiiion,o
20 on repulsrv or , i - WIN TEL the moned system
Suit the inierc.t mr. no; III uSo'def; how Tar IT will
trmpes, mr. ,n ell. y, "!a' company to create
peonle ar, mot s,, ann ~ '"e inonied ocean, The
tho rrea, a. p'ny mas such power The
and mn, dow, r . ~ uppor,ury 100 easy-to put up
the q, lole cootn;, % ~ "nu "eaR fortunes; 10 bring
preside over the aux and sa Is 10 me NePiunes who