Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1837-10-26

every individual Of the country.
3. The paper currency Of the coun.
try Is not, NJ IL is represented by some,
deprecated in value. On the contra
~, j, has risen in value. and is now, NJ
thB moment, above the value which
specie bore before the suspension. For
land, houses and other property, can
now be purchased with good current
Bank notes, for less than the same could
have been purchased before the sus-
pension with gold or silver, when by
the relative excess Of the currency, Il
was less valuable than now. There
fore, paper is now a, less depreciation
than when there was a currency OF
gold and silver and psper-that is, be-
fore the suspension Of specie pay ments.
=. The results Of the specie circular.
by ITS acting in violation of all the
laws Of Exchange, were most ruinous.
Such were the results Of what the
Senator from Missouri (Mr. Benton)
called the 'giorious-giorioas-speeie
circular {" referring TO the language
used by MIR. Benton a few days ago.
(Here MIR. Is. nodded assent. and SAID
"-3y. Glorious. We now, however,
said Mr.. King have found that this
glory had deprecated, like some bank
rags, and from the same cause, name
ly. thatit was found not TO rest on
very solid basis. We now, he said,
beheld ouI Government insolvent and
disgraced in time Of profound peace;
our young and prosperous nation brand
ed as a nation Of fraudulent bankrupis
and swinClers-its merchants bankrupt;
its manufacturers lsnguishing in Idle
ness and distress; planters ruined, and
two-thirds OF the working class threat.
ened with actual stary' ton. So much.
said Mr.. X, for glory. MIR. X. thought
this too much glory TO be endured any
longer.
Mr.. K. called upon his political
friends TO Join HIM in restoring the con-
troll OF the finances OF the country to
Congress, and rescuing them from ex-
elusive executive legislation. Mr.. X.
did not say that there had existed no
disease in the banking system; but the
methods adopted to cure the disease
were just as bad as if physician were
to turn a man heels upwards in order
TO cure him Of an apoplexy.
In relationto the Bank Of the United
States, MIR. KiLg spoke with great en-
ergy and pointedness. He said the
fate Of the Bank was very extraordina-
ry. But before he could venture TO
utter word IT favor Of that institution,
he felt he must give his reasons for SO
speaking; fo- " hoever now would open
his mouth in its defence vas obliged to
defend himself as il he were felon or
a traitor.
He had grown up from bis earliest
life Democrat in habits aud associa.
tons. Mr.. X. was Democrat in heart;
a real Democrat; he used not the word
0s a catch-word; he despised catch.
words. lie went IoT an economical
administration, and no one should find
him with Democracy on his lips, bot
Tyranny and Plumber in his heart -
lie would "6orTov no taise hrery from
Hearen 10 Ssyre the DerH IN" He was
a Democrat from his youth, and when
he first entered upon public life he
found the Bank Of the United States
established by the Democratic party
His parry established this Bank IN 1916:
that was the remedy then proposed and
found efficient; and from The time of its
establishment to the period when IL was
put down, We bad q currency better
than any other nation was ever blessed
with. Such an institution. in fact,
seemed necessary 70 the government OF
this country No country having q
mixed currency could do without it,
IL was necessary TO trust the finances of
the country to- some agency. The fate
Of this Bank, established by the Demo
cratic party, MI. King said. was extra.
ordinary; and he proceeded TO show the
injustice and inconsistency Of the Ad-
ministTaiion towards II. IL Mr.. Biddle
lay down. he was useless: IL he stood
up, he was impudeni, II he at down
be vas suspicious. II he expanded he
was bribing the county; II he contract
ed, be was running the country. n he
imported specie, he was Specializing
upon the country; if he exported specie,
he vas oonspIring agsinsl the country
In short. whether he passed above Or
below ths President, be- equally muddcd
the wafer. Mr.. X referred 10 an a..
tack on the Bank by Mr. Niles for not
exporting specie ~ 1892, and compared
that wI:h the late policy Of the Admin.
isirsiion 10 regard 20 the eKporiaiion OF
specie. IN truth. Mr X vent on a.
say, that institution had. oy shipping
five millions Of specie. performed ~
operation more favorable for this coun
Try than ever could be expected from
an institution winch had been wsrfed
against ~ u bad been.
Dir. \ referred 90 all these things 20
yindicate himself and others vho bad
slwsys entertained these opinions Of
the Bank and not meaning 10 indicate
any course on his part 20 relsi,oo 20
Bank yanaut from the opinions Of The
mass Of his Constituents. which. when
be Lass beard from them. we've, he be