Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1837-07-04

81 exercised Dy the ETeSIuOul
nited States, has resulted in
disastrous consequences. 1t
most universally acknowledge
he acts of the Executive, in
the deposites, in issuing the
Treasury Circular, and in
2 to force upon thecountry a
Irrency, at a time Of nnexam-
issues, have plunged this
rishing country into deep and
iversal distress. The parti-
lie present National Admins
Notwithstanding all their pre-
have proved utterly futile, and
anticipations Of their oppo-
We been but too truly fulfilled,
ttempting to delude the peo-
the cry Of "hard moneys" and
peal to the honest passions of
ature, to excite one class of
munity against another, the
inst the rich, and the agricul- |
inst the commercial interest.
IS iust as clear as MONDAY, that
were desirable to substitute
metallic for our present mixed
such an operation could not,
~ to the country, be other
very gradual. 1t must, II
a not totally unhinge society,
FORK Of many years. No re-
and intelligent mind can re-
argument on this subject, No
tical proposition can be clear
he system of paper currency
abolished in this country, it
BY gradually undoing what has
ne, and by tolerating the sys-
L the process is going on. The
promise on the tariff question,
b apt illustration of the proper
action. 1t is not however, at
BE that the people of the Uni
es will entirely discard the
of their ancestors, and of all
commercial nations. The at
Which has been made blythe sat-
of power, to excite the different
of the country against each
merits, and will receive the de-
Condemnation of every enlIght-
an and true patriot. In view
these matters therefore, it is
ReSolued, That the expiration
charter of the Bank of the Uni
ties, and the removal Of the pub
ositcs from that institution and
them in the State Banks with
hority Of law, were the most eff
causes of creating an excessive
of banks, which flooded the
~ with their notes, and thus pro-
an unnatural and deceitful APP
nee of prosperity, and caused the
st and most extravagant specula-
Ind overtrading.
That the Specie Circular was
d not only without authority but
fance Of law, and in direct oppo.
to the will of Congress and the
n; and that it was the immediate
of the distress that has followed
That the refusal by Martin Val
n President Of the United States
scind the Specie Circular, afte
policy Of that measure had beer
eddy condemned by sufficient ma
es Of both houses of Congress t,
overcome even the Presidentia
is daring attempt to trampl
be rights of Congress, and mani
a healless and wanton disregar,
le best interests ofthe country:
That the people are hearth
of the Experiment r" which ha
made upon the currency of tn
htry.
That it is an insult TO the goo
e Of the people, longer to attemE
ielude them with promises Of a
lusive metallic currency.
B. That we most heartily deprC
e the establishment of any nation;
nk, over which the federal execl
e shall have any control.
n. That as the cOnstitutionalitv
bank of the United States, is
ast doubtful, and as we believe it
rigorous policy to admit the rigI
the Fedral Government; to a
hme powers by implication; and b.
ewing as we do, in the absolute e.
edienCy Of a bank Of the Unite
tates to aid the government in i
Dancial operations; and to establish
niform currency throughout the couI
y, we would therefore recommer
ID request our Representatives
ongress to use their utmost endea
5 to procure a speedy amendment
federal constitution, with certa
citations, to enable the general 60
nment to create a national bar
q the purposes before mentioned.
8. That the power Of the Exec
We has increased, is increasing a
,ught to be diminished.
8. That the Odious and demoralizi
doctrine openly avowed by those hi
h power that, the "spoils of the va
1uished belong to the victors," is utter
5ubversive Of the lofty and genera
of patriotism, and deserv
the sternest condemnation from eve
true lover Of his country.