The Columbia Democrat. [volume] (Bloomsburg, Pa.) 1837-1850, 1837-09-16

is undenlaDle; lie precious metals viii IN
variably disappear when there ceases 10 Is
necessity for their use, as ci-culs i,r
medium. 1t was in strict accordance viii
this truth, that whilst. in the month oC N,r
last, they were every where seen, and wc,.
current for all ordinary purposes, they ,,.
appearel from circulation the moment fl,
payment of specie was refused by the barI
and the community tacilv agreed to li,.
pense with its employment. Their pl,,,
was supplied by currency exclusively d
paper, and in many cases. of the worstds,
scription. Already are the bank notes nor
in circulation greatly deprecated, and be,
iluctuate in value between one place ani
another: thus diminishing and maxine M,
certain the worth OF property and the pc,
of labor, and falling to suhserve, excepl At,
heavy loss, the purposes of bushes,
With each succeeding day the metallic IN,
rency decreases; by some it is hoarlel
the natural fear, that once parted with
cannot he repaced; while by Others nn
diverted from its more Legitimate uses 4,
the sake Of gai>. Should Congress SAN.
ton this condition Of things. by mihn,
irredeemabIe paper money receivable /,
payment Of public dues, a temporary clpr,
to a wise and salutarv policy will, in all mn
babiity, be converted into its absolute d,
tructon.
It is true that bank notes actually coDya
tible into specie may he received in p,l.
ment of the revenue, without henqlia
all these objections, and that such con-,
may, to some extent, promote indiL
convenience, an object always to be cong
cred where ii does not ccAict with the p,
ciples Of our government. or the gc,sr
welfare Of the country. lfsuch notes Oh
were received, and always under su,h
culnstances allowing their early prcsca
& if, at short & fixed periods, the, ae
converted into specie, to he kept BY t.
iicers Of the treasury, some Of the mos
rious obstacles to their reception E.
perhaps he removed. 70 retain the rs
in the treasury would be 10 renew, 1
another form, the loans of public moar
the banks; and the evils consequent q"
on.
1t is, however, mistaken imprs
that any large amount of specie is reqo'
for public payments. OF the severn
eighty millions now estimated to he 10
country, ten millions would he ahuull
: sufficient for that purpose, provided 90
e cunuIallon of large amount OF rc,r
s beyond the necessary wants Of The ar7
= ment, be hereafter prevented. lin
Il cilar,tin,,, lao ,,l,toI ,I,o G,..iIttiaua-.
# will arise from enabling the Treas
;. satisfy the public creditors. by It's d-'
d notes received in payment Of the
II dues, ii may be safely assumed that
l. tive of convenience TO the citizen it
=, the reception of hank paper.
v 70 say that the refusal Of paper
ie by the government, introduces 1n
ir discrimination between the cure
l. ceiyed by it, and that used by iaiu
N in thCir ordinary affairs, is, Ia ug
r. meut, to view it in a verv cIronroH
Of The Consitu' OF prohibits the Sa'r
r making any thing bat gold and si'o
l. gal tender in payment OF debts,
IN secures to every citizen a right to .s-
payment in the legal currency. "
~ vide by law that the government w
=. receive its dues in gold and sii'crs'
e confer on it any pccu,inf prur-
N merely to place it on an equality
ID citizen, by reserying to 4 nohtsc
A. HIM by the Constitution. i is d
,e for this reason that the principle hr
T. sanctioned Ivy successive laws, n
le time of the first Congress nnder rIlaN
n tulion down to the last. Such pres
ID never objected to, and proceeding f.
,e sources, afford decisive answered.
y. putatlon of inequality or injustice
lg But, in fact, the measure is o1'
so strclion, not Of favor. TO Ior'd
e, lie agent TO receive in payment a
T. than certain kind of money. is
h. him a discretion possessed by t'@
c. zen. 1t may he left to those v.
the management of their own trans
lk to make their own terms; but shr0
d, tion should he given to him whoac'
1t as an agent Of the people, who IS "
ar what the law requires, and 10 pay
$, preparations it makes. When b."
N, are redeemed on demand, the'" j.
e. discrimination in reality, for the I0
ct who receives them may, at his OPT,
" stitute the specie for them; be tar
IL from convenience or choice. w"
i'd are not so redeemed, il will sean
y, commended that their receipt and
lr- by public officer, should he
al Il. l. NsaV