Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1837-10-14

cultivate their lands, might be permitted to stay
with them, an, that their Great Father (the
Presidcnt) would be pleased to send amongst them
a fair trader to deal with them. The Indians
complained Of the mpositions to which they had
been subject by the traders who had heretofore
settek amongst them, and hoped to be freed from
their exactions. They hoped that their Great
Father and his people would hold fast the bonds
OF peace; and, after each Of the chiefs had taken
hold Of the pen, directed, they concluded the
treaty, shook hands with the Secretary and every
one upon the platform, and then left the church,
Nat. Int.
From the Madisoaian.
II was Tie policy Of the late administration to
enlarge the metallic circulation by the prohibition
of small notes, and the power of the General Gov
eminent of erecting a standard at the Treasury,
was looked to as the means muchto be relied upon
as s'auxiIiary' to its accomplishment Bat prin-
ciples seem to have changed this subject,
quite signally. since last spring, as they have
| in respect TO the deposites since 1884. Some
are inclined to roll back the too rapid progress OF
civilian ton halfa century, and return to hard
4 money and the strong box, according to practice
Of early times Of the Celestial Empire. and some
other dcspotic country Of the east. Some indeed
urge return to the palmy days Of the Roman
Republic, and propose to defeat the corrupting
Vaccinations Of the sRag Barons'' by the adop-
ton of currency Of corn and iron, and cllec-
ton Of revenue by depreciation.
England confides in convertible notes which
te,r the credit Of cpecie. France collects her
revenues by an hundred thousand receivers,
somewhat more expensive than may be imagn-
ed, than the fiscal agency Of the Bank Of Eng
land.
In Italy and Spain, the victims Of the noun
tain bantissi purchase their ranso'ns in har.i
money, for villiai.ny and guilt extend conf
dence, which is the foundation of credit, awakens
enterprise, and stimulates people to emulate
their masters. After the world had slumbered
upwards Of thousand years, in ignorance and
darkness, Germany awoke, in the 18th century,
to sense Of the high moral and social destinc-
, ton Of man, and gave new wings to the hopes OF
, Europe by the introduction of the credit system.
II doubled hos pnuer and for a time gave her
, the preponderance in "Gaul.' From the codes
: which were formed in the forests Of Germany,
. we are indebted for some Of the most essential
, fea:-res e the American Constitution. The sys.
ter, paced c Britain and made her mistress Of the
: sea. I: aided e stimulating the various voyages
Of discovery: which resulted in the settlement
cf America. At the commencement Of the rev.
. dictionary war, we had no gold and SILVER ct oil
commensurate with the wants OF the countEy'
Confidence and credit took thei place and carries
) us triump hantly through, thanks to Robert Nor
= ris. The sound war came, and the same resource
. rallied our conqucring armies, and rugged ant
\ manned a triumphant navy. We have cultIva
. ted peace, enlarged our territory, and connected
and affiliated the interests of the 26 states, BY
;. the most unexampled works Of internal improve
. ment. Have we ever had, up to 1884, a speci.
= circulation greater than thirty millions? Yet, VI
= have paid off about two hundred millions of deb,
=, Confidence and credit, the secrets Of success
=. are the pride and glory Of Republics; har
- money is the policy Of dcspots.
to Our policy is to preserve and regulate the Gre
le dit system. 1t reposed upon the banks Thei
of paper from The actual currency Of the country
h. Restore it to the constitutional standard. Err
he dicate, correct, reform, where these things ar
IS, necessary and jstiiable Infuse larger porto
he of the metals into circulation, sufficient f.
he minor dealings, to protect the poor against tn
Ne danger of losses by depreciation otherwis
That can never be done without the prohibito
of small notes. Neither will specie ever Giro,
.w late, when at a premium. Two currencies Of III
tie equal value can never circulate together. Sp
he Gle and small bills will never circulate togethe
,al the latter will drive the former If the Go
he ernment insists upon gold and silver cxcusive
les in payment for duties, the people will see nohn
at but the local currency, and the smaller denomn
,ur tons of that must be increased BY receivi,
he the notes of specie paving banks, that issue
of bills of denominations less than 800, the loo
al currency would be stimulated and enhanced, Il
te small notes discouraged, and specie be used
We minor dealings. 1t will be totally impossible
,ry get specie into circulation under the present
;s tenn.
we Something should be done to restore the con
len dence of the community in such banks as a
.rs solvent and bring up their notes to the spec
fer standard We wish TO protect no banks that a
not sound and capable. We abhor irredecmat
paper money. We wish to no paper mon
gs that is not convertible at the will Of the hold
Of into specie. Now specie has been carried abro
the by overaction on the one hand, and abstract
ish- from the banks by the policy Of the Goveume
at on the other The currency is dsordered: del
ght ors to the banks cannot pay; and the currency
ing the latter Is not convertible into specie 1t par
> of II should be. 1t is essential to the aeene
his welfare" that it should be made convertible, a
live It seems to Us that the Government u bound
IAN moral and constitutional obligation, to extend
loss aid to the people in this emermencv. a. far az
un- can by just exercise Of its powers, rather th
be turn away with a selfish declaration that cit /
oci- nothing to do, but take care Of itselfn Let
is circulation Of the country FIRST be placed upos
Ma solid and substantial basis, and the people acco
ious modated with good and regulated currency,
say the co-oPeratoo Of the General Govemment
On that usacpQae, and then ne can heax ,xisA