Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1837-08-08
ANOTHER LETTER FROM JOHN QUINCY
ADAMS

ADAMS.
t,..,,. are ~, orders q the DAY and NJ. Ad
"a, ,~rssrr viii sboihtf mote curuo' ihtn ihe
f,,t eec,nife a. ssuAi and indicating ihS' hc
ali sa.ls The far ay' whss be rrsrhss The cer'o
, s,pssmbet, THIS hiier ~ss brovghi oct BY
al frou the Hos. Wiihsm Poster 81 Boston -
-, Karen rusn y under date q Juoc II. and the
n,u,, ~s. dated July Let. We quot" 81 The
c,,., which would interest cur readers. Inc
-o,,,.poDaence FIRST appeared N the Boston aero
81, Van Barren ratmo.onir, sbolh'on, high
isrf espsr. NJ Adams. q - eles' intends TO
"a n, bnrnbar." With Benton. rather ihsn to be
,rsurred with R,e., ih. Albany Regency a. Co.
~ y. EIpre..
wv, az. nov IN The midst Of national bank
,,n,ey. .oe.rorsd BY the insolvency 81 mulinudes
n Individuals. We are now told ,bs, ell the
b,.t, In the United Ststs. have 'S'poadod Tee'e
rg.o.esfs-snd What - the suspension Of specie
-syneni. bu; se,tag Ibslsws of property al deh-
secsi II the President and Directors Of bank
b.,e issued miihon Of bills promising 10 pay i've
sol ary TO the holder Of each and every one o'
ihsm, tie suspension o. specie payments 10, by
ms act, the bseaoh o. milhon Of promses.-
Nt., ia this bot freud upon every holder on their
bill.i And whst difference 10 there between the
President and Directors Of such bank. and the
,silfgl artist who engrsscs bank bill, lac snhe
Il the ball .isned by the Presiden, and Directors
md caves then .be trouble Of signing II by dong
4 for tnemi The only difference that can see
n tao two operations Is. that the artist gives esI-
d,nce of superior ,kill aud modes,y. II requires
more talent 10 sign another mans name than ones
own, and the eouu,erfeiter does a, lcss, his work
IN tho dark, While the suspenders Of specie pay
n,cu,s brsren IL in the face OF day, and laugh al
the victims and dupes who have put faith IN their
promises.
nYoa ask, what IL 10 be the remedy OF this state
Of thinesi There are two remedies, both OF
which NAV be practicable. One u.s. that the Con-
gre.s Of the United States should exercise It's
powers TO regulsio the currency but they must
do this (which they will Dot without consulting
hanks, the presidents and directors. The Lce'sla-
lures of New York and Virginia have already
shown what the pr-sIdeuts and directors Of hunks
will sdylse. And the proposal Of the President
Of a broken bank 10 Charleston, South Carolina
TO begin with an amendment 10 the Constitution
granting powers 10 Congress, which have ALREADY
been granted 10 them, snd which they have twice
exercised to the great benefit Of the nation, is an
insult q, once 10 our understanding and upon our
misfcrtunee.
As little do ! relish his other proposal Of a
general consention Of broken bsnk presidents and
directors to enigh,eu Congress with their advice !:
etcnce for the oblic alton OF contracts, and how 10
make nothing but gold and silver tender for the
pay nent Of debts Of all remedies for existing
evils, The last would resort to wou'o be spurious
49,. s,.,,n the mint Of nullihcai,on.
The other remedy which Uciieye r.--s;subIe
is the, Of Solon-a sponge upon the sccount Of
debtor and creditor-wipe out ell old sores and
begin sgain. This is the hard money system, and
far AZ can ,ndge. It 10 the essential system Of
The present adfninistrution-it is to detach the
government from all banking, and deal in nothing
bu, the precious metals. If Mr. Van Buren, is
made Of stuff to GO through with this operation, ]
1ish hun we'll out Of il, but he will want other CO.
opcrsiors than the Legislatures of New York and
Virgins aud other advisers :hun presidents or
directors Of broken banks, or land jobbers upon
loans from deposite banks.
II think of this as though, Of the dry dock
gun-boat, restrictive, snti-navy system Of Mr. JEFF
ferson. II cost the cation terrible war 10 be de-
hvsred Of that, but the nation was efiectually cur
cd Of its hydrophobia. The war was drastic
purge, bu, it cffec,uslly worked its cure. fear
that our present bankruptcy will need still more
violent course Of alternatives, but the cure vii!
come when the people are prepared 10 receive II.
They are certainly not so now-they will most
probsbly not be so during the remnant Of my term
Of life. hope you will live TO witness aud enjoy
The eonvsleseence.
''forgive the freedom with which have answer
respect.
Your friend and seryan:,
J. q. ADAMS