Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1837-11-02


redundancy OF Paper money, spd otherfacilitie,
OF credit the safhs spirit Of speculation; The
same partial successes; the same difbcuitie,
aud reverses;' ami nj length, InesrIs the same
overwhelming catastrophe"
Tho very clear shd able argument of the
Senator from. Georgia (Nr. King reIieves me
from the nccessiIy Of sayiog much upon thu
part OF the subject 10 appears that during
sthe period referred TO By the Mc..a,c. Of
lls33-4-5, there was, in fact, no augmenta.
hon. or very triaing augmentation, Of III;
circulation N the country, aud that the Mes
sage has totally misconceived the actual state
OF things "a. Great BSitsin. According to the
qualifications TO which Ibave had some access,
the'bank Of England IN. fact Diminished. Il,
circulation sbOutiwo and half millions ser-
ing; and although the joint stock and private
banks increased theirs, the amount If increase
Was neutssljsed by thc amount OF iminulion.
I ~ the state OF ,hipgs weo. really identical, or
s'rn.i.r IN enc two rousteirs. ~ vrfl be lair Ca
traee Il 10 LUn.iHfity OF esu,cs But i, that tb,.
ease. 10 Great Britain a sDaad .enry.ney "a.
Prr.SrNed b, rr-ehsrset OF thr hank Of Pug.
fs"d sbo'r Ihe ssme Tina thst the 'te-rharaer OF
,he ps.s 'ot the tnfted States Wis sgits,sd here.
In the Y aited States We hsNc not preserved n
FOUND currency, IN eooscgueaer Of tie srto N
Srent britain yrrc- Eeir The same entalfropbc
tihe snsprns'on Of slseeie JAY menisl which oe-
le~fed hers sh- nrsertheie.A,EsC .r,I
uis d'he'cnce IN the eoi,a uion az the t~o eoun-
.r'r, makes slf the difference in The world, -
@reet btlts'n hssJeeojr cred from Shstevsf n,er-
eantae dis,rcsscS she eSberieneed; ar haze not.
and she~ shall ~ept All 10 bright and eL,erIdi
snd encouraging m the Prospects whish lir-bc-
fore ber' and the reverse 10 our nnfs,uuste ,i,u.
laiisn.: =. 80
Gren, Bri'si" has, IN truth. exnerienccd only
hosc temporary emtayasSHIentA y hfrh are iHei.
dentto commercial ttansaetions eotidue,xd dpon
The scale Of yssi msghti ode on. whie CHI bcrs arr,
carried an. Prosperous bud sdveise- lin.rA. &C.
tloa and rc.aeiion are tho lot Of all commercial
counpteaL Hut oHr distresscs sink deep~f, th,.,
rcarh me besrt, ~h'eh has eeasei TO rrr(otm its
ofhse OF circulation ~ Me gtes, concerns Of. CDR
body polite. :.
J whs,sver OF embsrrSs,raent' Rarope. hs. re-
Gently experienced, hisy be- satisfactorily, 81
pla'ned by .nstra'ie and connections . ith th.
STATES. eheRrrc OF embarrassment hAsbeen
Inarhsd, :" the eommsreisT eousrirs there, by
The degree oil their ronnrNion With the United
S's'es, All. &c almost al, the gveus failure, IN
f.uroPe ha'e'h-eu az housg tlgpgrd the Ame-,
r'eah Trade. Nssest Btit.in, uhirh ssr
sage justly obsc''es msiSfsilp the closest rs4.-
tons WITH ne, has suffered nlosl; France meat
Hnhso on ~ We or'lsr ot their greater or less
commercial intercourse ~i,l,us. MnsftruIy SvA
II said by il,e senator from Georgia that The re-
cent entertainments OF Europe were the EN-.
banassments Of = creditor, from xhom m, m-s,
Vas wi,hhsih by the debtor. su6 iron. y HON the
precious metals have. beea unneersssrily y ith-
dr~n hS the Poliyy OF the same dehaar'.
Since The Ihiensoy Of suffering snd The di..
astrous stale Of things 10 THIS country bayrgf,r
I trAnseended anything ti,At has Occurred ia Fu-
roP~, We must look here for some feeuIisE sud
more potent sauses than shy which have beru IN
ioINrnti"n there They src 10 he foand in that
.r'les OF msa."FSsio shisl, I have sGcsJy. stl-
| Serted
! Id The veto Of tile Rank.
9'. he Removal of tie alcpapiteB, With The
urgeHi iojnnetion ot Secretary Fancy upon abe
banks TO enlarge their Recommendations
ID. The gold bill. aud the demand Of gold for
the foreign ib'lemI,iIiss
I, 4ih. he clumsy execution Of the deposiie
law; and
eIh. The Treasury Order of July, 1856.
! tHrre MIR. Clay vent Into m rSamipat;on az
ihose measures, 20 shoW that the inflated eo,di
t'on OF Tue FOUNDRY, the Wild speculation, phicb
\ had !'',n' to hsirheighth ~hen ihs.y began Co bv
eheoked 10y the pTrpmalioHs OF the local IS,nk .
NECESSARY 70 meet thrieposite Law OF ha,r. sJ6.
'hf hS"i Suspension &c specie ,aymsfts, aud ,I,,
eoDseqcht disorder ~ the stirrrney .ou,r1rrr,.
n,d the generaI- buAih-ss Of the eann,ry. ~rrc
All to be traced TO the influence Of Ihr St,a,sr.,
Snsa,trMsd' htI'hese Ssusr. operated icnulr.
dIssciy ,SiirOeilys aadpox IuI ,uc,, IA aud ,hs
efhrts -ere l'direslly i,lt ia Esro,sc. y
] The Mesafge ipiuies TO the a,.,osi,e Law "a,
sgenTy IN produolagthc rxisiing embarrsssr,eit,
ih's - charge irts,trialy n.,lr Nv ,I,t Ti,.o,ts
'"t hr Adntnlst, a'os' sgsiust that las. Il &.
Iue Iha' The hs''xs llS'Iag iSSTrAScd il,eir Sc
4 comm nHtOaa, IA ronf0rrntty witlpthe or,l,. A
Ss;erytary T~nry, IL might not have Se,n con, ..
u'cid ~ TecSiI s"d psy. M over for 1aLIie.u,,
" true, also, Thar fi'e hEsnheV in irh Me 4. :.
! Sss eSgeuted lay The Trrssnry DrpartmrTH. trims.
itrr'ng large sana from etednor TO debtor IN nor
"Q'A OF The country. without regArd 20 the soo,.
'nstee OF business Of ll'e eduHiry, might lnsSe
Z he : a.
those Sho Object 10 the fsW laok oaei,, 10 bsy,
\ beep done 9th the BurpIosea Nhioif Ind arch.
mwssed, and were daily augmonti,g 20 E.eh nm
enormous amnaAt htia. hands OF The drnrsh-
Lark Were they Ia be iqeortlsrayed uiihIheir
eSP,Sis, s''d rruF'n tbere .fOF ne benefit Of u..
moeh,olusr@ vs., Il not proper And jus, thsi
thry shosh lsr APplisdNo ltcJses ol ihc Peot,i,.
rom Shom iheS- we're selles,edi Gnd. ~bs1~.
'rr snd .hqwe'er iskrn from ihe fier,siia S.,,ks
mot iseontehieDSs DecessAriiy .hahreu1
he Message ssscrts thstlhe Bank ol the 4
4 9t,Es. clustered BY PennsyjV snia, hes not been
70 S'e nssii or % cheek other isAiiitfios,S,
notSmhfiAeding "lhe still gfrnicr' sirtsRth IL ls
seTn said 10 posses, uadct ns Tpresenr Thsr,er .
~ ls.vk ~ noS nirre State or local iast,tf,-
ICON WAY ~ " rrtfrrsd ~, ahrs tLan The a al
~ N'tythja, o. ans oti,sr tpcai hssaV.,S,on7 1.l.
sIsitrd station - hiair he poe,bl,1d sis I6rhitIs
'ne 'gduSehce ~ Ibc spPPosiiiogs that The alIi-
son hss h,sn u,-s 90 eusl,lr the Aslmt.it,.t,,,,
70 I'rOhi rs tlrv ~, Jiiires uhiet have B-.n 81
thed hRsisa a. Vas u the duty Of The INA
more thsa sny .otlcr Ststc b.sk. 90 ei.r,k ,Le
srssi ins'u,iDas' Wss u rot cvrn n,.lsT 4, :,
I "hhs t'on 70 do 80 ihau the opposite bs,.k.. s.
.'ee''d "Hd iqs'-Fsfby Ne Geasrd tsJ,esan,es,i
4! Bat boz souidthr Message vgninrs 70 .s.s-s,
ihri q has grcsisr sreagih ihsa the l-Ir n.bk
20 The bnitei Sisiss I,os~-s,dt .Wkasrser mas
- the isbcrshiy "A the conditions ~ ti tl..,t.,
y - i'npas.'lie ii'st ~ s'ngie sCsIe raula ss,.
ier upJn y tsrihtss egfrito tirts. grated In ti,e
IHie hsnk - liz tt,ttfri stdes-Efa ~ ,o.ttrg
y th- s"lt 'hpp.iiefy n itr t,,sr,is. ~ ih- n
9tsirs- 80 ,r1ndl,. ~ n,Hrs ffrris.bi b., a..
~ n',5i ~ ~ pHilic dues ~ tisnk al tl,. n
Hisirs itssi EXISTED, y suuid hs,u t,i .n,ti~ ns.
trr - iiis astufns foit ~ public tan.f, b. a..
i9ssl bsf4s, sHds ~ Uutis s,r-s,ses n ~, 80.
uos', q spaId bstr tireveidesl ,hs 70. Sai.,ls,
osrt 70 hish thft 80, spphsd snsl, -, ia,s,fs.
uoo sotid have i-ru bound. by Hs fesflsus n,
iisr t'pfefruirtdst ~ 0bs.r,v ~ spprots, s,i,s,.
s'''l ihent ~ arrangements sn,i sai.ti sti a. Isl
view al~His rr.'lY praIapiit 81 MEET ti,.s 4,
Fo+ilt hs'e afasn - iiief-srssi.s.ii, tsit ssr,
tsi"it iife piiiiy ranv5y O. fi6sFrtr ff-t,-r.4i -
hesPspn hiiny sSuid haze lave ea,isrttt.t.a
nl''''. al's'e. hss,sl - 3 20 w~ukenrd - -,
y dihptinn -Hs1nr snfnr sigkfy of nsssf, De .
h-nks. dt,iHrsd isfeiiahoit he tt,,tsirg 49,
sei'"E shhuia - fhttitc toi.tsiL
\ si'os,lnaie ~ ~ ugtnpogt.at ssase a