South Branch intelligencer. [volume] (Romney, Va. [W. Va.]) 1830-1896, 1837-03-18
no. 80.

forfeit from the genuine notc. 1ue Ae ,,
are most generally perpetrated IN tne saille
notes, which are used IN the dally transao.:oii'
of ordinary business, and the losses occasion
cd hv them are commonly thrown upon tie
laborinc classes of society, whose situalon
and pursuits put it out Of their power to guard
themselves from these impositions, and whose
daily yaaes are necessary for their suDsiss-
ehce. It is the duty Of every Government so
to regulate its currency as to protect TINS M
merous class as far as practlcaoie from tae
impositions of ayarice and fraud. 1t ID more
esnecially the duty of the United States, where
the Government is emphatically the Govern
ment of the people, and where this resPec.a-
Bile portion of our citizens are so proudly di't
tinguished from the laboring classes. OF all O.
the2 nations, by their independent spirit, their
love of liberty, their intelligence. and tnelr
high tone Of moral character. Their inauStrys
in peace, is the source Of our wealth; ana
their bravery. in war, has covered US VIVA
GLORY; and the Government Of the United
States will but i'll discharge its duties II IT
leaves them prey to such dishonest lmposi-
tons. Yet it is evident that their interests
cannot be effectually protected, unless silver
and gold are restored to circulation.
These views alone, of the paper cur
rency, are sufficient to call for immedi-
ate reform but there is another con-
sideration which should still more
strongly press it upon your attention.
Recent events have proved that the
paper money system Of this country
NAV be used as an engine to under
mine your free institutions; and that
those who desire to engross all power
in the hands Of the few, and to govern
by corruption or force, are aware ofits
power, and prepared to employ it. Your
banks now furnish your-only circulat-
ing medium, and money is plenty or
scarce according to the quantity Of notes
issued by them. While they have
capitals not greatly disappointment to
each other, they are competitors in bu-
siness, and no one Of them can exer-
else dominion over the rest; and al
though, in the present state ofthe cur
rency, these banks may and do operate
injuriously upon the habits Of business,
the pecuniary concerns, and the moral
tone of society,yet, from their number
and dispersed situation, they cannot
combine for the purposes Of political
influence and whatever may be the
dispositions of some Of them, their pow
or of mischiefmust necessarily be con-
fined to narrow space, and felt only
in their immediate neighborhoods.
But when the charter for the Bank Of
the United States was obtained from
S GoInggEeeAgst a i pe5fe6Tffffsafr
present hour. The immense capitals
and peculiar privileges bestowed upon
| f enabled it to exercise despotic sway.
over the other banks in every part OF
the country. From its superior stren9tn'
+ could seriously injure, ifnot destroy
the business of any one Of them when
m;oht incur its resentment; and 1t o.
i,srlv claimed for itself the power q
Regulating the currency throughout the
/ Tilted States. other words, it as
serted land it undoubtedly possessed)
the power to make money plenty or
scarce, at its pleasure, at any time, and
in any quarter of the Union, BY Control
limo the issues Of other banks, and per-
hitting an expansion, OF compelling a
, General contraction, OF the circulatii 8
medium, according TO its own will.
The other, banking institutions were
sensible of its strength, and they soon
: generally became its obedient instru-
d ments. ready, at all times, to execute
d its mandates and with the banks, ne
81 cessarilv went, also, that nornerous class
= &c neTsons In our commercial cities who
E. depend altogether on the bank credits
\ for their soSency and means OF bnsi
i ;c ness; and who are, therefore, Obliged
a. for their own safety, to propitiatc TIL
e, favor Of the money power by distin
r. ou;shea zeal and devotion in its service
10 %. THE result Of the. ill-adviscd iegisla
In ion which established this great nc
III, nonolv was, to concentrate the Who'll
or moneycd power of the Union, with \
md boundless means Of corruption, and !
bile numerous dependents, underline dlre'
hes ,;on and cotnmaItd OF one acknowledl
atil ed head; thus organizing this partic.,
c,v lar interest as one body, and securlI
i'd to it unity and concert ofactlon throug
un- ont the United States, and enabling
CT en-. to bring forward, upon any OCCASION
, ave entire and undivided strength to s.
len mort or defeat any measure Of the Gf
'ited ernmept. In the hands Of this iorL
le ere; dable power, thus perfectly Organise
,s tiiy was also placed unlimited dominion
is to yer the amount of the circulating n
We dun, giving it the power to Iegul
'p aaa the value Of property and the fruits
:l or labour IN every quarter OF the unie
eiti- and TO bestow prosperity, or bring ~
's IS Of upon any city or section ofthe count
1 # is as might best comport with It's own
shall .erest or Poliey' !,
c the We are not left to conjecture b
yoar the mo..eyed power, thus organic