Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1834-03-08

oil The General Government, seems TO have been
sanctioned 10y The ,eM The people, l was, therefore,
"iing To submit TO this repeated decision of the go
vernmont and Of the people. i acknowledges the
truth and justice of the maxim, Msero est serptus
ubtJHS est All cGgum oM inceYt,,n"-tbnt there is no
curse greater than that miserable seryitude where
an Is vague ana uncertain in the fundamental prn-
cipies OF government. un not sure tl,at the peo-
PIE even OF this State have considered this question
ueiioeratey, and have formed fixed opinion of the
BANK as to its constitutionaty or ms n measure of
eeNpediency. believe the great democracy of the
p", 'ne great body OF the people, is opposed to the
'a"h-Dut II IS because this was one Of the dstin-
gushing features of the democratic party aud from
general hatred OF all missionaries of wealth. But
sir although do not think would have stirred the
question: rejoice that il is again agtated, and
p. VIC people VIII examine il well, and will rem
uer 'eif verdict not only against this but against a
other Banks hope the eyes of the people will be
opeueo tiat they will see the dangerous and de-
,onS eitects OF ALL such institutions, and that
'hey wili destroy them root and branch.
mr.; Chairman, know the opinion, that we shall
81 ~, " "ah'sh paper money and bring back gold
ana shvor, Is considered wild and extravaganza and
no. III all more chimerical, than the serious expec-
'ioh OF me return of the golden egc of the poets
but SIR, while have not the slightest f,ill, i'm the
"osoute Periectibility of man. do think he may be
MADE better, and that he may he prevented from be-
coming worse. Sir, it is not the part of good citi
ecu, nor OF good man, and still less of legislator
=" "espair oil improving the condition of his fellow
man. we should not be discouraged from attempt-
ny 10 ucs'roy that which is acknowledged to be
u""Serous ana bad, merely because il is of long
standing, and Inconvenience NAV result from it's de-
S"uI.o". mr.. Chairman, is it allowable TO throw
oack The charge Of ignorance on those who pro-
no"n1e all VINO venture TO hope that the currency
may become what the Constitution intended it--real
money! TO be eXtravagant and absurd? is il cha
ritaoie to suspect some of those to be wilily blind
VINO are loudest in denouncing the alsurdi,y and
io''y Oh tins opinion? Mr. Jefferson, in exposing the
nnyio'ioh and unyeIling" says, "They have taken
~ oeeP root IN the hearts of that class from which
our legislators are drawn, and the sop to Cerberus
:. from liable has become history. Their principles
:, he hoiu oil the good, their pelf of the bad and
. mus, those whom the Constitution has placed "a
guards to lis portals sophisticated or suborned
rom ther duties" presume it is not more extrava-
sun, ~ assert, with the most confident assurance that
Sou ana silver are the only proper materials for the
tS"iency OF country, and that they will and must
DC restored to us than to declare an inconpeytible
"Tedeemdole paper, the best currency i'm the world
""u tlat gold and silver as money, are useless and
an unnecessary incumbrance. We, Sir. i'm this conn
"y' anu NJ inns day, can scarcely believe that nny
MAJ. IN MS sober senses entertained an opinon
III inc remotest degree, approaching this attcr-and
yer, IL is almost an exact statement Of what once
was te deliberate opinion of the most enlightened
ana commercial nation in the world So prevalent
anu strong was tins opinion with the British public
lat IL required the talents of Ricardo TO expose s
and this believe was the origin of the
Duiiioh and ant-Bulllon parties in England We
M "leao me suspension of specie payments by the
BANKS and yet this was for many years regarded as
nv evh ny the people of England The minds of
tue statesmen OF that country have gradually under
gone complete revolution - From believing tho,
n"nk notes were very good, whether there was gold
ana silver in the Bank not, they began 10 think
.llat Banks should pay their notes in specie on de-
'iuh ana II TINS was DONE they thought that trade
and the nation, and all, would be wel@nnd Ills i;
me point at which zoe have arrived. But British
statesmen have advanced a step beyond it, Lord
NIng, IN deDate ON the motion to repeal the act
PronioIting the issue of notes under five pounds
sterling, or some subject connected with the chr
rency declared, ole had no hesitation i'm savino ,bo,
Inc superstition attached to paper money was idola-
trous in the highest degree. He regarded il ms the
most dangerous hercsy of all heresies" The Duke
y, w eiihgton on similar occasion, see debates in
Iar' VOL. l9 sand, THAT experience had proved the
Jutacg oil the theory, which stated that paper cur
Tecy was perfectly safe as long as it was convert
Die INTO gold and silver. Experience during. the last
HHTee years hat pTOvea Mis not To be kyte" And no
man could speak with more authority. ms nj that
iime he directed the destnes of the British Empire
ferhaPS, sir, after the authority of such names.
ana c)uiu add many more TO the list the obiec
'ion 10 bank notes may not be considered so very
absurd. There Is one other name must bring TO
'he notice OF the Committee--a name at presen,
scarcely known, but which, trust in n short tine
VIII De familiar with every American | mean Wi
liam NJ Gouge, the author of the " American Rank
ing nysteih,-i little book which hold i'm NV
Iai' sad MIR. r., (holding the book upland which
most respectfully and earnestly RECOMMEND TO the
serious attention of the members of the Senate and
all 'heir lrieds AT any time il would be valuable
but at this time, it is above all price Nor do es
TEEN the less, because he complied Frequently and
oteh largely from others. He has preserved in the
second part many inesmable jewels, which n1iobt
olherwsc DC lost; and in both parts he makes lis oc
quanted with authors and works inaccessible tn tho
general reader. had hoped, if did speak on This
SUBJECT 10 have 1t III my power 10 take broad view
oil Banks and Banking, and especially of American
paper money. l wished TO shew i'm what manner
oahks are generally formed and conducted-to ey
pose their general effects, and particularly their G
lSc's on moral character, and on the happiness of
Man; In all of which, should literally use th;. II,
tie work, and would have mudc it pretty wen knovyn
10 Tie senate. But at present, / have not ms bc
Iore remarked, properly prepared myself nor an,
So iahllIihf with nay author, as instantly 10 present
even what lie says on those important topics There
are, however, some portions which / can readily
turn to- and which will present to the COMMITTEE
Mr.. Chnirinan there is but little method i'm INV re
marks, and perhaps there will be as little in INV
guoia'iohs; but to preserve something like nethoJ
VIII hrst hoilce the importance Of the subject or
'he danger OF Banks, and will then briefly examine
some OF the arguments in favor of Banks IVo oil
know, sir, the objection which has ever been ur@'
ca ny The Democratic party to the u. s. Bank ne
forming monied arisrocracy POSSESSING n ,,s,
powerful and helmiDg Influence; that il is nm
nSIituuon IN tile Often quoted language of Mr. JEFF
ierson) "of the most deadly hostility mains, ,le
principles and form of Constitutions will cir
present you with later authority will reod nm NV
tract from very celebrated speech which W., L,,
all seen and heard much and Justly culopised md
Wnich was published III our city newspapers few