Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-10-23

give 10 tn bencf ofthe people veil Is othe Govef
You ment tins is The great point To be tdAe At II
rument tie leading object OF the measure brought forward
iGlcncc dmius the last session ot Congress aud which r
received the almost nnaunrous sanction OF this HOUSE
,uulc aud the of arer hainray OF the other.
pcnpri honel from causes to which have already alluded
Il s,l flel IL beconc law Tie MEASURE. al
N dis essential principles. again submit Tor Tho
,qni,,. consideration Of the Senate.
large TIN President, III his Message tells HAT tho
rcqnlsion OF gold and silver payme0 OF the pull
ope lie dues would lavc ~ direct tendency produce
public wider circulation of the precious metals.
mr. all the safety oibalk paper and improve the general
silver currency desire ~ treat tie opinions ut the Pre-
twelve sdcu will all possible Respect respect ll aite
4 eight for the Individual aud tie maetsf,a unless
nry haer wholly miscooececd The elementary principles
EDITION "hchhcinng tn tins subject az well rs hen oslous
r. practical nr1'ion II Is impossible IN 'estan any
prrcia OF these positions. How. the colt
pass the revenue in gold aud silver, te 40 widen the
cuatim ot the precious metals = Il well kuuNft
les and aud inynriabIe law 81 currency thai bank
eaten, CONS o the same denomination eanno circulate to-
ch the eerr Il IS IN yail then attempt tridt1 the
gold eraa'oa Of cold and silver by any o,e means dian
M ean by the Suppression OF bank o the low dcuom
ni,r1 nations but not now to tbs sub ~ e
dc the have fully developed and enforced eem lere
;oycm. nlan thai the collection o tho public revenue
porting gold and silver, while the common Currency The
ut. country consists of bank paper nscud OF rtni9a
ht. or me f'e'o7 Of those metals would have the otct
hcsto OF a'ne III ont oil general cac03oa altogether.
H. wnh l''th remarks have already made, n,it haa
touds been satisfactorily shown, that the necessary
words OF tins policy would be IL cold aud sl,efio
in b"n Wflnnm bearing preuIlpm. they would
holder not circulate currency all bnt would Le ONE
toh'er'dnto IN nrttrle ol merchandise The pub
ish ne debtor would 6eF thrm Of the hiohpr pa, h.
aud dues 10 the Gusr0nen aud when Iaid the
,srm public creditor lac would aud g.H trnngHIu to
which The broker nstead ot entering ulHllon. al
Gov oi thcm that would BIZ restricted lls
rsts nano" round OF udhc while the vi them
Coy would be wllll ttom public view. we'll ~ l>e
II the lhrh sraS Ia the tendency o this peIry
!, m, crease the safety ot bank papet'weud YOU
bling '''ls' 'f safety oil bank paper by aistattng Tho
4 lhr ihnd or srt redemption Yet sub would tie pIa
ernr operation III this poley The Secretary the 1e4
IN, Of snry has referred the condition ii the reasut,
IN afet
u lay operation oi the new financial syslemhe proposes
/ The In nnkg NJ the Treasury statements of taf wear
alton hhd thai the average amount o public
H. ei dcpose in the ol New York urtg tlmt year
am was about I've m1I.rs while tie whole amount al
toun- specie III the banks OF the CITY about uni
hons Taking this ms fan average tor that es
/ tins what would be the influence o tbs policy
collecting the public dues IN gold aud silver tie
II Gu saIef4 n 6a"h ldPYr tlert Nhac would ,on gel
rh me i've milon7 al specie 10 meet TN, drmand To-
u The public revenue II IS evident the banks would
be drained by oI tIelr stock Of the prcciorls noia
d ON and the Community would thus bctepr1ved tie
mcn enrty oG Which lcy relied for the sonndues5 the
more bInk paper held BY rhemlhe nm emei oftlie
" of general currency then, which The pfcsdo, anie,-
a. III l'e' is ne Ies"i "i Tie policy he proposes "onid,
the unless the mi1ees heretofore received
rules, bic uulhs the snbcc ol the currency utter
,oee 1laeIes amour To tins, that the lfrciols metal,
:, We Womb II" Hunger form part OF the general coua-
the otla hey would cease 10 be currency, aud be-
ed eone moe articles al merchandise IL bc obtained
con. only At premium and that the specie basis. or
Which the soondncss aud safety Of bank paper
ncll- maloy depend, would heneciorwald great ~
wis tent, be Withdrawn aud InOnonolized ny the Govern
lbr bh' his been saul and rrgtet 10 pofceNe that
the hc ldra sf"nnenanccd by the high authority of the
the Presidents thai the general currency the country
lcraI with which TIN, Government has poihnp
10 dpia Us hullcs are confined 10 ne exercise oil
and the power and the collection Of is own
an IN gold and sl,tl-ard that the ecneal CIR.
ale, '"'dlhF nf"hh OF me country must be entirely
r. ban loutd Ia the separate and conflicting con-
H. mol Of lc individual states. Now, opinions
AN differ alike from This of the subject and lsm
thai urgcda lev days age, BY lc Senator from Mas
Z W Saciu>el,s, (Nir. WinsrEn,) beg leave 10 safc
In brt1 mha they The Wiinle hi=io 1.-THE for
Nv napu ot The constitution, wtllas The
NV db'r ut u, luo isnis. prove beyond question: that
us, tie runners ul HAT instrument nfcudd that there
cal shoald he currency the uou aud not
ro las many different cuncntles there states"-
ent They donbuess bclcved tIin that currency would
cye consist, almost cntlcy of gold and silver. There
"'le bGt TWO huhs then III existence, whose
~ v"ecdipot, s,Gll' naif of the general ctcu-
R.EgcOEsER$ WANTED