Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1837-09-28
NO. 35.

sSSHlis'to 70 DsNN ObOeT state OF
things which he considered iireversibls
'n 1916. There was bit one mode IN
which the government could re-units
Itself with the Banks, bat that was
emIncn'ly oijeciionable-he meant By
creating The IGnsy lvania Bank Of the
OnI'ed States The FISCAL agent Of tia
government. THIS would compel a
sesur p'ion Of specie payments in a
less disastrous menrcr than by tho cs-
'nblishmeni Of new Bank. But ho
would oppose this measure because ho
would not give hi. sanction 10 the ere.
alton Of an sgent wholly under tho
control OF The STATE and sgaiG shs
would not aid 10 give that Rank til.
umph over the government, much 40
be believed the government in the
wrong IN the late couics, be,weo n them,
He objected 10 Reunion hich would
make the ere dit ofihc governnentiden.
teal with The credI, oithe Bank. He IL.
Illustrated bis Argument by q reference
10 cases Of sup. osiiiCus character IN
private life. AS government opera
,nD' cCGHac: CT cIpaLt, 80 would tie
bank circulation. lie traced the pre-
sent disastrous condition cf The coun-
Try lack 70 l52i, When the tariff svs-
ZEN vas IemoGtllcd 10 1923. tho
evil vas increased and fixed by new
tauf act. Oue effect was the cxpan-
sion of bank currency; another va,
tho increase Il custom house bonds
/ hcse eau es sWtli-d the expansion
m tie circulation Of the Bank Of tho
United States in 1921. end IL vas not
The iaul, Of thai institution that It's ia
.ucs were thus expanded. The re-
charter of he Bank a England in
~ had us effect or the course of
'hinvs. II was AZ this time ,ha, the
PSr>idcn; cf the UNITED S:a,rs no, com.
rrchendinC the real state of things.
struck his blow OF the United States
B'nk-a blow which com ple,ed the
catastrophe. j. vas remarkable THAI
The tliicc great su5rcu ions of Specis
PAYMENTS now. in 1913, and in Eng.
land in 1871 resulted from The con
rec'ion % the Ranks end The govern
meu'. He wished 10 know on what
nrincirle We could lend the credit Of
the goyeTnncnt to = tCdy q s'ockhcld.
citizens of the United S,a'es Tie
etc, wa 10 give preference 10 ore
tody 20 lie injury OF oil the rest Of
he con r7uHi'v. Tie Increase Of Tho
Rl-'e MAS enormous, end J. ri..l ia.
orcaa.ns Ia OF enormous degree. The
vcfious remedies proposed would DO
Intellectual io produce relief, ard only
Cfrctual 10 inCTcaee The evil. Ito
touched on tie corrupt practices and
ccrrrr'ing influences connected via
lc cis!aiion or The subjec, a. bpnks-
Hr ihen commented on he course &c
C'a Jackson. Who bad Produced tho
ir''w1'e connection beta ecn the Co
vernmcut and the Banl IN iS34.vIoh
tad eecr since cAi isi ard which
would for lorg time ins'- ma
io-sl Pyh'ics a1i The Rrrbs II then
there could be TO reunion vijh the
Bsnsr, % L. S. Bank rc'liu, re-
.rai"s Dot 10 'ecrrari-c tie Treasury
n meet tho new condition of thugs
He had not loose into he g-~seni h,n.
bet n would object 70 any measure
Al.-S Ln0rCe 'sau'y svCilg tie ratTou-
\ ~ a. Tie goyCTrren' The fc.uIrp-
ioo ~ specie payment. hoVc,cr. ur-
~si ne existing law, would renew tic
connection Wifh The Banks. He would
% o proper 'iDe suhm,tap a. cndrent
i4irg rat nrsr tie fr.i ii Janu.
s-v rsH, ltrce.foUfIis " the debts
~ 'he Uri.rd States i-ay be pad
.1 notes ~ 'rH ir-rayirg hank5 ard
7r' '.a.iv 10 ictr'' 'he frSrofu-n cArh