Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1837-07-11

IMPORTANT LETTER or NR SENATOR
TAtLMApCE on ~. y

the Aibsny Esensoy Jcsrnsi. u really rte' %
.s- kape. Whsr men cocap,inr the posi'ion 81
~, T.lasdg. come oa, in sOch direct snd opcn
oppo.nsoa 70 III. lesdiag doeir,scs q The ohon
tsu,n,i II The t;vssrnnssni--~e are ente-isred IN
ss,s,s The, true principles viii set sfs'n pretsii
II. truth 70 that Loco Focoism--olirs Jackson
,,.n--v utter anii- nantism--ss ,ni,ersbly weak IN
TIM. eoae,rr. II makes no bead wsy. Tho party
,omr,,.~. Martin VISA Barren. General Jackson.
Tbon.. n. B,u,os. Eli Moote. {. e. Csmbrcleng.
the editor. If tho w,.h,eeiop Globe, y Y. Post,
and y v Ersm'nst--sbJ some I'VE thousand In.
,eIlirent individuals eongregs,ed at the Fre Points.
This tells oil the sireagib q The party. These
r,,n loat Cor [. Metallic Currescy --ihe dcstrue.
,on o, credi,-snd attribute al The distress TO the
Di.lrbgiion B,ll--boi they find no response among
the inislhgen, men of thcir own panty.
With degree Of ,ndcpe ndenee highly ercdna-
bin be6ss.s aneoms@0As. %" The leaders t,r 1he
etc. the insaoe folly Of Loco Foeoism aud rebukes
the ssnn,trous doctrines Of the Globe. lie tells ps
that the d,triJuiien kiH vss wise and salatafy
measure that the recourse TO an exclusive mo-
fslie opgrcsey. IL !, were practicable. would pro-
a,,ce dssolstion and destruction from one end Of
the Un,on to the other aud that the system Of
credit Is the distinguishing feature between Despo
f,m and Liberty. All this is IT, the very teeth of
the doctrines daily pu, forth By the Globe.-Ils
views in gard 10 the small bill circulation Of the
State slso merit attention and particularly where
they slluJc to the sbsutdty of requiring the peo-
pic To transse, their business in currency hat
eoHaoi h. had.
Every one should read the following letter.
Such Of nur subscribers as have Van Buren, neigh
bora, or are themselves Van Buren, men, will do
well 10 preserve this paper Tor their pcrusal
PououxEErsiE, June O. 1887.
To the editor o. the Argus:
Dear Sit have jus. seen the comments Of the
New York Evening Post on the meeting held a,
Poug',tecp.ie, in relation to the issue Of small
bills by the banks and beg 10 correct through
The columns 81 the Argus, .he errors into which
the Pos, has fallen. II is iroe, | signed The no.
tee FOR such meeting. and. although did not
attend it, approved then. as do now, of it's OBJ
cc,. ~hch very dIiIercn, from that represent.
ed IN the Post. The object not to repeal the
Law prohibiting the circulation Of small bills, bu,
TO suspend ,s operation during the sospe usion Of
specie paymsnis. ] Was one Of he earliest sdvo-
Gates Tor prohibition Of the small bills and | be-
liese the measures recommended BY the Pough.
keepsie meeting lie the surcst means oil preserving
that Law. Without its suspension during the
pension Of .pecic payments. there is much danger
that the Inconvenience felt By the whole coumu
nifty for the wan: Of small change. will bcget a
~ strong feeling in the public mind against the
Law itself. which may be carried into the next leg
isls,ure, snd cause total repeal instead of sus.
pension Of may mlsjudgc in this matter, hut
know this to be the deliberate opinion of many Of
che wsrmcsi friends OF the org'n,l passage of that
Get and that the mode recommended by the meet
ing was deemed the best means to preserve the
law. and 10 give full effect to it's provisions the
resumption Of specie payment by the banks. Al
rcsdy these n-onvenences are felt. and already in
the country flooded with small bills from the ad-
joining States. cannot appreciate that policy
which would increase our circulation by spurious
circulation from abroad, instead Of giving TO the
Community the bills OF our owe banks, which are
under our own control Of whose solvency
have doubt and for The safety Of whose issues
ample provision is made by cur own avs. There
~. to my own mind, also, an Inconsistency IN su
tborxing the suspension Of specie payments BY the
banks. and, at the same time requiring the people
TO transact their business IN a currency that can
no, be had, and which they csnno; in any way
command. That this is true is cyinccd by the
fact. ;hst specie is no; in circulation for small
change, and that the small bills IRON other states
nov form the circulating medium in it's stead, not
wiibstsrdine their circulation is in direct contra
sention Of pensl law OF this state, whose proyis
ions have been strictly observed until the suspen
sion Of specie payments by the banks, but which
ere now violated from necessity, and no, from
choice.
The editor Of the Post is pleased to remark. that
my speech. in The Senate Of the u. States, about
syesr siaee. on the dcposi,e act. IN which
tufed some views in relation 10 credit system,
wac duly copied into The Wing papers with great
spp,ssss," &c. Seeing those papers bot seldom,
I ~ss not swsfe how extensively il bad been cop
led or spplsoded by them. ! wa, however. at that
time 10 the regular reeeip, Of the Evening Post
and DO no, remember to have seen that speech
eopsed INTO iis eolums, and sm not aware that its
readers have been favored with my views on that
subject. to enable them TO form an opinion OF the
correctness Of the snimsdversions Of the Post.
Those views believed correct at the time aud
have seen nothing since TO change them. but every
thing 10 esahrm them. have no disguise about
my opinion an ,hs subject. Ian 10 favor ofs
well regulated credit system. and opposed to the
ehimericsi scbeme Of sreissre natalie currency
The following extract hom the speech which hss
90 unesremoniously received the eensare Of the
Pest. ~ill show my opinions then. as well "a the
oPnlons which ] nos enieraIn.
THE credit system 10 the Distinguishing feature