Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1837-04-05
VIRGINIA
HOUSE OF

L III atf0
Whereas the present disorganIzed
state Of the money market, and the DIS
trcss experienced throughout the com.
mercial world, have been attributed
by many to the efforts Of government
to restore the constitutional currency
| Of the United States, and a panic IS
now attempted to be gotten up in yarl-
Gus parts Of the Union, with the view
o finducing the President Of the United
States to repeal the Treasury Order,
issued July 18th, 1886:
And whereas it behooves every clti-
zen in such a crisis TO make a iull ana
candid avowal Of his sentiments on the
important subjects corrected with the
revenue and currency of the country (:
Therefore,
/. Resolved, That the late Circular
Order OF the President Of the United
States, requiring the payment for sales
Of public lands to be made IN gold and
silver, in lieu of deprecated bank pa.
per, is legal, constitutional and wise
well calculated to repress the enor-
nous speculations in public lands, to
~curtail the excessive issues Of bunk pa
per, and restore the constitutional cur
rency Of the country.
@. Resolved, That a repeal of said
Treasury order, so beneficial in its
| operation, would give additional in
| ducements TO the banks to o%vertrade,
| would enable spectators more eiiectu-
ally TO possess themselves OF that rich
domain which was purchased by the
| common blood and common treasure OF
all, and which was intended as the
home and retreat of the honest laborer
-and that such a repeal would be re-
| garded by this Assembly as IN aban-
donment of the policy of the late Ad-
ministration, which had for its object a
| restoration Of the constitutional cur
rency-would be regarded as a Gispo-
sition to legalize the issues and notes
of local State Banks, and TO return TO
that system of paper money which has
been so signally repudiated by the PEG
pie ofthe United States.
3. Resolved, That the banking in
stitutions created by the States have
become so interviewer with their poll
CIV, and have taken such fast hold on
the interests of the people, that they
cannot be easily oradicated, and the
only means by which they a be con.
trolled and kept in their reasonable
limits, is for the Federal Government
to adhere strictly to the letter Of the
Constitution, and to receive in payment
for duties, taxes, debts, or sales of
public lands, nothing but gold and sill
yer, the constitutional currency of the
United States-snd that any attempt
10 restore and regulate the constitution.
al currency through the agency of
State Banks, must be partial IN its OPP
GRAFTON, destructive ofthe independence
ofthe Statos-& inefficient as a means
to accomplish the proposed end.
Mr.. Garland, in presenting these
resolutions, stated, (ns we understand,
not being present. that he desired TO
lay them on the table, as expressive of
his own opinions, in his representative
capacity, not expecting any action up
| on them at this time.
After some remarks by Messrs Boo
ker, Voolfolk, Watkins, Hunter and
Witcher, Mr.. Wilson Of B. called the
previous question, which was sustained,
and the resolutions we're laid on the
table.
Mr.. Bolts stated that he was not a.
ware until this evening that it was in
order for a member of the house 10 Of
fer resolutions expressive of his own
opinions on subjects which were not
intended for the action of the house
but as this indulgence had been extern
ded to the members from Mecklenburg,
and as others had been prevented by
the previous question from expressing
their opinions on the floor, he would
avail himself las he differed SO widely
from the resolutions just disposed off,
of the privilege Of Offering a sleeping
or travelling companion, as the case
might be, for those resolutions. They
were intended as an expression of his
own opinion on the subject, and he no.
ped they would be laid on the table in
company with those to which they
were intended as Il reply. He had no
idea that an expression of opinion on
50 important a question should be n
fined to a single member. He there
upon submitted the following:
Whereas Andrew Jackson, late Pre-
sident of the United States, did, in do
fance of the Constitution, and Of all
right, issue or cause TO be issued a
Treasury Circular, the effects of which
are now beginning to be felt through
out the whole commercial world; and
whereas the National Legislature, be-
ing sensible of the impolicy, illegality
and unconstitutionality ofthe aforesaid
Treasury Circular, did, by a ote of
two thirds of both houses, repeal the
same and whereas the said Andrew
Jackson did %thereupon not only refuse
to sign tho said law but, did pocket