Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1837-11-02
NO. 40.

2
u was cailed> Proc, NJ abbreyia,,o, of the
authority under e.b heb Il was put fofth, and
took ono and n half and sonstimss two
dphars OF ProdYo purchase one IN speeie.-
kaii IL any one besires 10 undersissd perfect
" the operation OF purely paper currency,
lst him study the history of the Bank Of The
Commonwealth OF Kentucky u wa. es,ab-
i'shed abou, IS OF l6'yesrs ago, with consent
OF a majority Of he people OF that state. N
~ winding Up and closing it, career, with The
almost unantalo1s appreciation Of the whole
people u had an authority TO ISSUE, and did
issue, nqies To the amount Of about two mil.
hons ,oi dollars. The>e notes, upon their
faee, .purPoried an obiigatfon OF the bank TO
pay the holders on demand. me AMOUNT in
specie, but II was wri1 known that tbey would
NOT he 80 pad. A. a security for their ulti-
matepaymeot, therowere Ist, the notes Of IN
dvsiuais supposed to be we'll secured, every
note put or by The bsnk icing represented by
, an individual aots Ghseoiinied "a. The
iunds Of the State in o prior State bank,
smo1ntipg 10 sborl half { million of dollars
80. The proceeds Of iaTge BODY Of waste
land, belonging 20 The State, Aad lth, The
annual revsnue Of The STATE aud pubic dues,
sp OF which We're pay able in tho notes Of the
Commonwealth Bauk =
.Ne'~ iihsia,iiing these srpsren,iy solid pro
Visions Tor the redemption Of the noie. Of tho
osnk, theg began 10 dsprc,isie shortly after
"cotomsneed oPeratiUn. and in the course Of
Ew months they SUNK y. low az CIV per
'eent-t~o dollars lor one specie dollar. They
eontmsed dePrsciated for a borg. time. unt,I
after leEgs amounts 81 them. we're called IN
snp oorbt They then rose 10 value. aud
now, hben there is only some fifty or ono
hunafec thousand dollars cot, they have .,S-a
70 about par THIS Is owing 60 The demand
ior lheEi, created by the wants Of the rsmsio-
ing d. 6tors 10 the bank, and their receivable
y IN payment Of taxes. The result of The e.
pe''ms5t Is, that, although IT s, possible TO sus.
tam Al about par purely paper medium 10
some amount, Al the legislative authority
"neh creates u viii aIso create . demand for !.
u, u Is impraeic able 10 sdius, tie proportion.
% supply aud demand so a. To keep II Atp.r,
and that the tendency Is SIwsys TO an exce..
OF issue The resGit, with HE people Of Keo-
turky. has been a general conviction Of the
mi>rhieis OF all Issues " an tredeenabIe pa-
per medium.
Is it practicable for tue Federal Govern
lnent 10 put down the State Banks. and 10 IN.
iroduee an eXclusve metallic rurrsne,p IN
the operations OF this government, We should
ever bear IN mild that political power II Dis
"iou'ed between II aud the States. and that,
sh'st our dulles are lew and ciesrly deiined,
- "'ST' " JuliOrItN Qt1dea
With ihe States. Their banks east without
US, independent OF Us. and IN spite of u.. We
have no constitutional power or right 70 pat
lhem down. Why, then. seek their destruc-
i'on' openly or secretly, direcu, or Indirectly,
hy discreditIng their issues, and by bankrupt
laws, aud bills oil pains snd pensiue., Nhy
are ihess banks now 40 decried and tienouncedl
'lnirudets; aliens, eDemies that have found
Their way into the bosom IL our country n
gainst our ~'iis. Reduced to their elements.
and the analysis shows that they eonsisi-I.t
OF s'ockhoIdersi %, debtors; and ID, bII-hold-
err aud other creditors. Ia some one Of these
hfee relations, large majority Of the People
oil the United states stand Ia making war
upon the banks. therefore, you wage waTupou
tie People OF the United States III, not
mere abstraction that YOU would kick and eua
snj bankrupt and destroy. but a sensitive,
generous, eoufding people, who are anx,ou.Iy
turning thetr eyes toward you, and importing
relief Every blow that you inilIci upon the
banks reaches them Pre.s the banks and YOU
press them.
True wisdom, u seems IN ms, requires that
We should not seek after Il We could disco
YER, hpattalnabie abstract pSTiert ton; hot
should look To what's practicable ~ human
sn-ir>, and accommodate Our legislstisn 10
the rrettrsiGle condition of things. Since
aud WI have them, and since We have No
constitutional suthotHJ TO put them down. our
-duiy .. 10 come 10 their relief " hen M smbat.
easement, aid 10 exert al our legitimate pux.
er TO sustain and ehsble them g. perform. in
Ne most bs6r ieiai masner, the purto.s.
oi IhsH intuition. Ne should emhsnk NOT
des'roy The ferldiEiag stream which threatens
an iiuindation
We are told that IL - Aeee.ssry 10 ,srs-
rate divorce the Government from ihs
Banks 'Let-us not be detuded by soands..
senators might a. wei talk II separating iks
4oNsrument from the States. OF from The PEG.
pie 90 from the country. ws SSe all Peo-
pie states IDiof,<.- Backs. hound up and In
ferSoten together, united W fortune apd Ia
destny, snd al. al sDtiied Co tk4 proisetinr
osre e a parental Govefpnsnt You ma, as
veil slbmpt Ia mogsthe lssvefnment breathe
dihrfcpt ar. drinh different water, Ne Dc
shd Saruled hy diHefctt sun from the Peo-
pie A hard noosy Government ard q pster
money People GosFrBment. IN pficial
o"TP-- u's servants Of The People -yj,,,@,jnz
m geld, sod iht Peoele IbemssItes they n,as.
ie'', Guf'sd 10 run, and SURROUNDED With
fags
Norfudspl or ptpetieal Coternnspt will
~ fsmessIrvs run coanssr b. The tong sst,lsd
hauiis Ard atsges 81 ihe People Religion.
~ 49, w eafsb ifeHtu cuFfftry anQ
O'isintss ~ Whoie country rsHu0i he essdy
90 sUf1eHly UpfOoisd Aftsf the dsnotaias.
ti"n - our roo VS. changed o. dollars add
rs"is insty yssfs elapsed befofs he cd ise-
'toFi ~ hssPiug afesunis. ~ pDupds thifimRs
i'ti Penfr. was shsndonsd And tOshIs daf.
'hsfF 4fs prui abs some mcn bfihf last cen.
tory sho adhere 10 o. VI fgndsmsstat
thss<s hsr"nics nsrsssarg. should not h.
'ndifH be- Conducted ~ clos snd eaotioss
fsffrts thr People ~ ihs Tened state,
haze baen al~sys Pspsf monsy People -
" 49, psTer monty tbat eauied - through
Ne hfToi"i'pn, sstabirsied oar liberties. as8
'ssde " . irss a. indspebdthi People And
~ "s esPsrisrcs ~ Ne Fvsabtiatsfy go
r"uf'nfsd out aneesf0rs. - - ere CONVINCED.
"' re e'i's 81 - Wffdssalsbis pspsr MEDIUM.
q ssf PIT ssify oniy o. ave piass "a thst
renfsfnhie Faprr which sss ~ pousrfuiiv
'""ifihuisd - our fsp8 s6ssaes H,sat. psas-
peri'i, aad etssins.s
Ihs pTng.-fs suisiifufion ~ M sxfimivs
H'Ftsliic currency % ne mrsd sssdisn, aHh
shfch ~ hste beet 80 ionr fsniias Il f.y.
fflfisen ~ ffe rrlHff f.ffs ~ sfas..f t..s.-