Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1836-12-22

ztfd offending IT,. -
The, 10 the banks. /, IS quite probable that
many 81 the BANS have "Slrnd0i ihr'r ISSUES
but whose tault isit 7 Nhp called these. Banks
into cxi,fcuee? The Executive. hl" tempted
md coadcd fiefn 10 these issues Undoubtedly
Ia EAe a,i1e. The county f.r Years ago vas
IN possession of the moot beautiful machinery oi
eufrrncs and exchanges the world esfr -a". i
ssn,'ste,t u nun Der al State Bunk, protected
aud ~ tn sane lime rcstfliurd ~ thr Bank u lie
Uui'rd States.
The .roplr Of llc unied STATE, through tieir
representatives. r. charter ii ms iintion.-6li
The Executive. Disseminated uiIi independence,
rejected iIe ACT OF Congressman the ia,oritu To-
pic Of dcolamdian VIZ, that tie States would
max RfEh, and TIT 81 banks could create = better
ss<lrn 81 currency and .,,,aHgrs. The states
accordingly made hanhs--a"d thcn followed iil'
ptr1d 5 ahoutlh loans 81 these banks, aud tiieir
enlarged DEALING n exchanges. AID wlat is II"
consequence. The Bauk of the United States has
not ceased 10 exist more than seven u,onlts, and
aladdf the whole currency * exchanges are rum
nine into int1ificshle confusion and the indusir.
nf the country is burd.ird with rXtrayaeAnI
charge Oh all the commercial inter course Of the
Union. Aud NV. when these bank. have been
ctt ated by the Executive, urg.d into these Excess
>es, instead of gentle and gradual rcmrdi-s, 4
frrc" crusade is raised against tbrm-the funds
NE Suddenly and iar,lllt taken from them, and
rhcs are forced to extraordinary means ol defence
AGAINST tn" vriv power which brought the into
beng. They received, and were expected 10 ~.
criye, III payment for the Governments, the notes
Teach either, and the notes IF Other banks, and
the iacilit, win which they did so was "a ground of
special commentator bs the Govrrnm"ni.-And
no" lhat Government has let lnos" urri them IL
demand i"r speice, to the " l,ule amount of HES.
notes. Ih"r" is IN query abroad, raised by fac
ton and echoed by folly, against the Banks in the
Cnit" States. Cntil il was disturbed h, ,lr
Guvri nmcnt, itc banking system OF the United
State. WAS II least as GOOD as that Of any other
commercial country. What Was desired for its
perfection, VAS precisely What have so long STIR
ven 10 accompl'sh-to widen the metallic basis OF
the currency, by a greater infusion of corn INTO ,ic
Smaller channels Of circulation. This WAS in II
rradut and jn1 cious train Of accomplishment.
But this miserable ioolery a, II, an exclusively me-
tallic currency is quite II, absurd as Ia discard thu.
steamboats, and 90 back to poling up the Mi,sissip-
r. links may Often err from want of skill, and
ooeasiohaiiN u. injurious as steam ls-hut it is not
less lrnr, tIat HE banks t hi, country have been
tic great instruments ot III Improvement and that
daring Al! HE COMMISSIONS OF the lasi fifteen s,ars.
t'r every American bank which has failed at least
ten English banks have ihilrd.
SO with regard 10 The linds. For the last few
var 'H' hiphI I'll VIC sdits 81 me pubic lands
have been u constant theme Of congralu!alion viii,
he Executive. In The very las, message, on the
l2il December, 1885, hr repeats the same Strain.
Among the esiIcnucss OF the increasing pro,prr
lv It the country, not the least gratifying is that
Afforded by tie receipts OF The public lands, which
in'hnht III the present year to eleven millions ni
dollars. lls circumstance ati.sts in the rapid
Is with which, agriculture, the first and mast inn.
p"'tan' occupation Of man, advances, and contri-
bnrrS 10 de wralli, and power ofour extended ter
rifoTN. IN The same message he declared thai
~ HE circulating medium has been greatly inpro-
we'd. By the u>e Of the State Banks il is ascer-
tanned tIla, all the want, al the community in rrI.-
tion TO exchange and currency are Supplied AS We
asth"v have ever been before" Scarcei3 sewn
months riapse when these pastoral and fnancia
Visions dissolve III air. Agriculture ceases to h,
- tn hfSi and most important occupation of man
til" State Banks cease Ia b. the models of tx
change and tarrrnci In forth issues the Secrc.
Iart with a declarations. that to protect the Trcn.
shry " rom frauds, Speculation and monupoli-s IN
lir purchase OF public landsi--hom =" exccSsi.,
bank cfedits'-'r"m " rninouS extension oil banh
i>sue>"-nolhing shall be received for land bur
gold and silver.
Ne" what an exhibition is hist
he public lands are expos d TO uullic snction.
he prices reduced in order to encourage sales. am,
the PRESIDENT stands hv, raultIns al the amount
when sndd"nl Inc declares that he will raise IN,
p1cc oi the Lands hs raising the price of " hat a.
lone he vii receive for them. Now, srpposing il
trnr that men have bun9h mich band. " La
riel't has the President 10 dictate 10 the citizen,
oi'lis country, whether they buy too much land
/ or too mnrl, broad, 10th 7 They might he permit
3, ted 10 know and To manage their own concri Il,
quite as well as he does, leaving the evil, if j, bt
! one, 10 correct self, hv its own excess. If h,
prohibits the receipt of any illinu bnt specie I,
5 correct land sp"cnlaiirrs, he may make the sam,
prohibition as 10 the duties ON hardware or broad.
I cioih or Nnrs, whenever lis patrrnal wisdom
! S''al' see as buying too man, sliovrls, or too man,
COATS, or too much Clampaiene-and tim, brinp,
tn" rhl'r"~ industry Of tn country under hi. control
$ ne troubles may not, however, be wholly use.
less, II We extract from diem two great lessons
The first IS that "ccln have M permanent inat.
+ cal prosperity " hlir The public revenue. is srpara.
r ted from the business of The country and commit
r ted I" rash and ignorant politicians with II, ,uid.
! hut their own passions aud interest. have liz
+ '!a dnhht that the sbecir or'!cr is The revruo, of tin
] 'rr>Idrht upon Congress Tor passing the D,lribn.
'I"n Law. | have less doubt that THIS diSpersio,
OF the revenue among il multitude of BANKS WA,
TO advance the obscure aspirjrings of some Tr.a
: Surv Cesar.
G The other lesson is-onc a thousand Times -.
l''ated and Il Thousand time, iorgoticn-,o di>rnx
all domag"2nts oi all parties who Profess excl,.
: slNc love for what They call the propl,-E,, III.
: last SIX Years the country has been nearly c,n.
{ v'isrd by cltoiiS To break the mutual dcn,nd,,c.
! d" All tl'i>NtS ol CitiZens-io make the I,ho,.r ,,.