Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1837-10-28

own will on the nation -ffav. NO, all those d
depos,es the rejection of the Co.
ury order, which led present unforsunae
d'o besn adopted in spite of the wishes al the cosa
and opposition, probably Of the dominant
ITSELF
Our misfortune been wan, of wisdom, but r
6mness, party power would have governed -
country very i'll, ii bad allowed way. +
fatal been lend its SANCTION and besso rs
in their origin, previously precia,ed condemnsd
We have been shocked grieved whole ogissA
ec'ion of the which previously they had u
unanimously recommended! To the whole aban-
do"ing sh. policy aud best interests in sub
servency Executive pleasure And tho nOmbsriess ex
amplcs Of individuals who have surrendered their ndepen-
dsnce must nfics pal" in every patriotic bosom SIN
gle forces itself recollection ussrasion
to which do advar, from unknd esiings towards
the gentlemen whom refer, between whom and myself
civil and relations have existed The meme
rails B.AA o. Gnsed States praying for tie
reeatsr placed his hands and presented the Sem
ate lie carried the recharser through ss Senate The
camsT A1l0in o. weeks afterwards, be-
hold the &enA ator at the head Of ASSEMBLY, Of iho
inc , " s a.. m s "n
act! Motives lie beyond he reach Of the human and
docs not belong to what they which prop
ted sec and this praise Of tbs destruction
Of his own work but it is impossible To overlook hs fact
that this SENATOR in due time received from tbs author
Of tbs veto, the gift of splendid foreign mission
The moral dsducibc from the past that free ns
tons all Others, and can be preserved IN
their purity and excellence only the condition that
shall hold the patriotism
to all the ties Of party to dcsaon: and that
In this rapid, and, hope, fatguins review of tho
which think have brought upoa existing embar-
rassments repeat that it has been to no purpose OF re-
preaching eliminating have had the conduct Of
public affairs; b, discover tho by which the
has bssn produced with view to ascertain II
possible, (Which by far much importantly should
be done by Congress its injurious effects And this
brings co,sde. the remedy proposed by the Admins
tration.
The great evil undcr country labors ,hs
pension Of she banks specie the total arrangement
domestic exchanges, paralysis which has
that given of bank notes will
no, now command as much of specie
prior suspension, she future,
the danger of inconvsrsbls being indefinite
ly ncny upon the People, tina, fills them with
appresnsons Our great objec, e-establish
sound currency, and thereby the exchanges and
vve the business of the country.
Inc which tn. brought forward
by the Administration make, is, that they consist of tempo
expedien, looking supply Of tbs necessities of
charats tendency rather agsavatc than alleviate
suf-rings People None of them propose
People, the Statss AID the banks, left to shift for
themseve, a. they may The Ad"i"s'raso after
taken them Federal without the consent Of
States: having pulled and praised them after ha
them, contributed bring t,er
pre- stuation sudenly its back them,
leaving fate! Ii is with that it
must absolutely dcre shs. ssaas e,a mess ,
supply them with currency left struggle
a. they can with the very which the Governments
them, but which il refuses itself 70
! ceve!
The protested object Administration is establish
That currency of the Consttuon which it
poses accomplish restricting the Federal
in all the exclusive OF Specie
refusing all bak pape whether convertoe OF o'.
II disclams all purposes OF GRIPPING OF putting Gown e
banks shall better dcsefm'ne inc 90
sign or the effect Of the recommended, by cod-
| erng them together. system.
l. The the uries which are TO be made
the repositories spscie collected and paid for
III. Government, dscreditng and
fsng all tho Of the States although payable ana Pad
2 bankrup. law for the United States eveled all
banks authorizing the seizure OF the effects OF
stop payment and tbs administration OF
their effects under Federal authority exclusively
3. particular law for the District Of Columbia, by
which all the and People of District, under
pains and penalties. prohibited fom circulating
days the passage of the law, any paper whatee
convertible into specie demand, and are made aoie
! prosecu ton by indictment.
l. And lastly, bill suspend the payment Of he
States by the provisions oil when
deposite indebted the arc placed
the discretion Of the Secretary Of the Treasury.
impossible consider this system without peceiSne
tina, it aimed al, and carried must terminate i'll
the total State banks; and that they Will o.
all MAC ed a, the mercy Federal Government II il
i, Win ,o proes, tina, there existed design against
The effect OF be misunderstood
Al ~hv ,h. new expermea. or u.ricd expcdicnt! Thu
Poodle of this country tired of experiments Ought
the itself cease hem Ought il NOT &
take warning the Of recent elections! Apov
body to lend itself to fuftne1 uf ". ~ no.
happiness this gea. People According to the
no longer true exponent will of the States
the People Ii there would be shrtywo or thirty
w eighteen twenty nenus VI tuc
zion.
Is il desirable 10 banist, convertible paper medium, an
substitute the pec metals the sole currency to
in all of varied business, Of this entr
country! think not. The quantity Of precious metals !
world, looking fair dissributve share OF them
wholly Insufficient. convertible paper is great smesa
wing independent OF its sopef
or advantages transfers and rcmsanees friend,
longer ago yesterday informed me OF single ban
payment, and in day amounted 10 t~
millions dollars. What time would have been necessar
sum. The payments, in the circle OF
year of New York. estimated several veal
ago fifteen hundred millions. How many and ho
days would be necessary 70 count such sum
younz growing, md enerpsng People, like those OF tn
United ate than other, need The use Of snos
credits whica inciden, sound paper system Cred
friend Of indgen. OF all nations, Great b
freely used the credit eyiem and OF ALL 81
is prosperous. We cease to be comm.fc
People; divorce ourselves from the con
ourselves back for centuries.
il exclusive of specie.
1, objected against convertible system, that 1t
liable expansions and con,ra"tions and that the cons
tbs ris, and fall of and sudden fortunes
n sudden Blu, the importation expectation
specie which form. the basis Of that occasions IN:
fluctuations If specie alone the medium of circuit
son importation expectation Of il would maj
il plenty and effect prices in tbs manner II
nominal apparent prices might in figures bot
AZ s.nsaon upon community would be great the
Il, ,he osasr These do result. the.