The Caledonian. [volume] (St. Johnsbury, Vt.) 1837-1867, 1837-11-21

paramount interests Oh SOllle lllCl-
dental or collateral benefits may perhaps, nc
crue to the community. But is Government,
ask, to for nothing but itself? Is seIt-pres-
crvulion the great end OF Government? Has
it no trust powers? Does it owe no duties, but
To itself? 1t it keeps itself i'll being, does it full
| I'll all the objects of its creation? | think not.
think Government exists, not for its own ends,
but for the public utility. 1t is M agency, es-
;abIished to promote the co nmon good, by COM
mon counses; its chief duties are to the people;
and il seems TO me strange and preposterous, in
II moment Of great and general distress, that Gov
eminent should coniine all lis deliberations TO
the single object of lis revenues, its own conven-
fence, its own undislurbcd administration.
| cannot say, sir, that | was surprised to
this general character impressed on the face OF
the message. | confess it appeared to me, when
the banks stopped specie payment, that the adj
ADMINISTRATION had come TO pass, in which il was
unavoidable that it should take some such course.
| But that necessity was imposed, not for the
ture Of the crisis, but by its own commitment TO
the line Of politics which its predecessor had a.
dopted, and which it had pledged itself to pursue
Ii withtlrawS its care from the currency be-
cause it has left itself 10 means of performing its
own duties. connected with that subject. 1t has,
voluntarily, and on calculation, discarded and re-
nounced the policy which has been approved for
half Il century, because it could not return to that
policy, without admitting lis own Inconsistency,
aud violating its party pledges. This is the truth
| of the whole matter.
| Now, sir, my present purpose chiefly is TO
! maintain two propositions.
l. That it is the constitutional duty of this gov
! eminent TO that proper currency suitable
to the circumstances OF the times, and TO the wants
of trade and business, well as to the payment
! OF debts due to government, be maintained and
preserved II currency of general credit, and ca
pable of aiding the operations of exchange, so
| tar us those operations may be conducted 10y
means Of the circulating medium and that there
are duties, therefore, devolrng on Congress, in
relation to currency, beyond the mere regulation
of gold and silver COINS
II. That the message, Tie bill, and tho propos
! ed amendment, all, in effect, deny any such duty,
and di>caim all such power, and conne the
constitutional obligation of Government to the
mere regulation Of the COINS, aud the o! its
own revenues.
! l nave well weighed, Mr.. President, nnd fully
considered, the first of these propositions; to
wit, that which respects the duty of this Govern
nent in regard to the currency. | mean To stand
10y il. 1t expresses, in my Judgment, Il principle,
| fully sustained 10y the constitution, and Ivy the
usage OF the Government, and which is of the
! highest practical importance. With this propo-
sitIon, or this principle, am willing to stand
connected and to share in the Judgment which
the community shall ultimately pronounce upon
| it. fthc country shall sustain it, and he ready,
N due tinIe TO carry it into effect, 10y such means
aud instruments as the general opinion shall think
| best TO adopt, | shall operate, chGeriuIIy in
any S(lcli Undertakings ana Sild HOOK iHul WIN
confidence, to prosperity in this branch Of our
national concerns On the other hand, if The
country shall rcjnct his proposition, and act on
that rejection; if it shall decide that Congress
! has no power, nor is under any duty, in relation
to the currency, ;beyond the mere regulation of
the coins; then, upon thar construction Of the
powers aud duties of Congress- | am willing 10
acknowledge, that do not feel myself CONNIE
tent to render any substantial service to the pub
lie councils, on these great Interests. / admit
once, that if the currency is not to he preserved
| by the Government OF the United States, know
not how it is 10 be guarded against constantly
Occurring disorders and arrangements
| Before entering into the discu ssionl Of the
grounds of .lhis proposition, however, allow me,
sir, n few words by way OF preliminary cXpluna-
ton. In the first place, wish it to be observed,
that am now conending only for the general
principle, and not insisting either on the consli-
nationality, or eXpediency, Of any particular
means, or amy part calar agent. am not saying
by what instrument or agent Congress ought To
perform this duty; only say tits dGty. which, in
some mode. and by some means, Congress is
bound to perform. In the next place, let it be
remembered, that | carry the absolute duty OF
Government, in regard to exchange, no farther
than the operations of exchange may be PERFORM
ed by currency. No doubt, sir, IL proper institu.
ton, established by Government, might, as here
oore give other facilities to exchange, OF Egreat
importance, and to IL very great extent. But
intend, on this occasion, to keep scleary within
the constitution, and to assign no duty to Con
gress, not plainly enjonrd by tho provisions of
that instrument, as y3nterprctGl, and as here
tofore understood.
The President says it is not the province OF
Government to aid individuals in The transfer of
their funds, other than by the Of the post of
ticc and that it hight us justly be called on to |
provide for the transportation OF their merchant
disc.
Now, beg leave to say, sir, with all respect
.I,f,, It. 4. :
individual to individual usually for the ,Iirecl
purpose OF the payment aud receipt of debts and !
payment 81 receipt are dules of currency; that,in
my opinion, currency is thng Government is
bound to provide for and superinlehd that the
case, therefore, has not the slightest resemblance
to the transportation of merchandise because the
of merchandise is carried on bv
ships and boats, by carts and Wagons, and not
10y the Use of currency, or ANY thing else over
which Government has usually exclusive control
Il,n,, A., ;,,,l; 80; ,t,,,l