Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1837-08-24

The practical currency OF common
liie." before the Government should be
authorized to demand il from lie peo-
pie. The only means by which thu.
object can be effected. as experience
and reason equally demonstrate, is the
previous suppression OF bank notes OF
The lower denominations; and he &C
oordipgly brought forward. during the
last winter. . measure, having that
suppression IN view which was sane
toned by the votes Of more than two
thirds Of both houses Of Congress-
That measure was the direct corollary
from the principles be had a,owed in
1884. and IN sustaining IT. he REQUIRED
to and enforced those principles. Ia
the remarks made by him on the 22d
Of December last, on the introduction
Of the proposition referred 10. he used
the following language: shall that
medium. (the medium Of payment IN
public receipts and Endorsements. be
specie exclusively Even i: this
should be the ultimate policy Of the
Government. the country is. in my
opinion, not vet ripe for its adoption
Sp,c,e must first hfnse Itself more gen
'raHy through The ordinary business of
society, The common ehonneis of circu-
lation must be better filled wiih tie me-
taiiic euyrerey-be.oie the Government
can. with justice 10 the pubic debtor.
siernly demand payment Of its dues
in gold and silver exclusively. The
only effectual means by which large
circulation Of gold and silver in the
general trade aud business Of the COM
muniiy can be obtained. in the sup
preston Of bank notes Of the smaller
denominations. This is that practical
reform Of the currency, which has been
held steadily in view by the present
administration and is friends" sc.
Again. on the 18th Of January, 1897.
in supporting the same proposition. he
said, It'll. by the suppression Of the
small notes, the circulation ofthe eoun-
try has become better filled with the
precious metals. do not think IL would
consist with just, wise, and pa.ernsl
policy on the part OF the Government.
10 exact payment Of its dues IN specie
exclusively. II could not be done,
without great hardship TO the public
debtor, and extensive distress and en-
barrassments to the whole communi-
ty." Nothing. therefore, can be
clearer than that an attempt with our
present limited metallic circulation, to
col!ec! the public revenue in specie
alone, would be distressing 10 the last
degree. and could not abide the test of
that public judgment, Niihou; whose
appreciation no system OF policy can or
ought 10 stand"
IL will be seen from these extracts,
in exact conformity TO, aud steadily
pursuing the idea thrown out by Mr..
Rives in the debate on the renova! OF
the deposi;es in 1884, that he has uni
formly held, that gold and silver must
first become the common currency
OF the country by the previous suppress
sion OF bank notes under twenty dollars,
before the Government could be justi-
fed in demanding its dues from the
people in specie. Is this the case nowi
A formal answer would be a mockery.
I will only add, and do it upon no
slight knowledge Of Mr.. Rives's opin-
ions and public acts. that nothing can
be shown from him in 1894. or at any
other time. counienlncing :he snoma-
ly Of two distinct currencies established
by law in a republican Government
the better currency" for the Govern
ment, and any sort Of one for the peo-
pie. As Mr. Rives will soon. IN the
discharge OF his duty TO hts constituents
and the country. have an opportunity
Of explaining and defending hiS opin-
ions for himself. should net have
deemed it proper 70 say any thing Of
them. but that you have thought fit to
make them the subject Of a special
commentary. and that an erroneous
one. There are other errors Of less
importance in your commentary which
| have not the time, nor do | deem il
necessary. now to notice. X.