Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1837-08-24

mind. II Is. although plausible in ,heo.
ry. the most difficult scheme in prsc-
hce which it has fallen TO my 10, 20
consider.
4. ~ virtually snrrenders the PURSE 10
the Erecutire.- All these Treasury a.
gents will hold their places at the dis.
creiion Of the Executive. What tenn.
'ations TO abuse would the uncontroil-
ed possession Of SO much money hold
out to an ambitious aspirsnt for unim-
tied power? have no distrust of The
present Executive, but | sneak of the
tendency and dangers of this scheme,
which suppose is intended to be per-
petual. It's power which | am I'M
willing TO place in the hands of any
Executive. The powers Of "ile nurse
and the suord" are at all times formida-
bic enemies 10 liberty and free govern
ment.
D. Hwif enlarge The patronage of the
federdf Gorenment.-li there be a
single principle IN our admirable sys.
TEN oil Government which tends more
ihan another to destroy and overturn
the dignity and value Of our State Go.
vernments, and TO produce a consolda.
ted Government, IT is the extensive.
accumulated, and accumulating pat.
ronsgc OF the Federal Government
Its overshadowihg influence is already
casting the State institutions into the
shade, and now scheme is propo.ed
which must in the end enla, ie lis pa i.
tronage and accelerate the progress of
consolidation. New officers and new
salaries will be necessary, and in many
instances an increase in the salaries of
the present officers. Already are the
expenditures OF the Federal Govern.
ment overgrown aud extravaganza; but
a scheme Is now proposed, which, if
effected, will still farther enlarge them.
We should seek rather to curtail than
to expand; for we are far departed from
the true principle Of economy which
should be observed in the expenditures
OF the Government.
Il. The difficulty, charge, and erDease
~ 9raAsporidfioA.--lf this system shall
be adopted, it will deyolve as a duty
on the Government 20 make its paw
ments in specie. The difficulty and
danger OF transporting specie from one
part Ut tins extensive empire to the
other. will be Of a serious and IMPOSING
character, aud will involve ruch exo
pensc. Why run these risks, when a
system can be adopted whicb will ay old
both. as well as the expense: can
not perceive any sound reason for il.
Z. The great Inconvenience 10 uhich
n i0iH subject Me public deGiors.-Ii
there be currency which is sound in
every other point of view, why subject
public debtors TO the trouble and ne
cessiiy Of hunting up specie when thew
are about TO discharge a Government,
debit Why, upon many occasions.
throw them into The hands Of brokers
TO raise specie by giving heavy pre-
miums. when they could pay sound
current notes, Immediately convertible
into specie Why subject them TO the
payment Of specie, when in their more
extended transactions with their fellow .
citizens, notes will answer il is an
anomaly in the history Of Government
to see IT demand specie, when a differ
ent currency is provided for the people
at large. am decidedly OF opinion
that an accommodating spirit on the
part Of the Federal Government 10
State institutions. will greatly increase
the bond OF union, and strengthen she
arm Of the Federal Government.
.. II DiH result ia aa incyeased de-
H1and for a national bank, and secure IFS
ssfaCLIshmenf.-When this scheme has
operated sufficiently long to have tested
IT'S utter imp-scticsbilily, aud the State
Banks shall have been deprecated 10 a
great degree under its influence. a.
w:l inevitably be the case, then the
demand for a national bank will be so
strong as TO he irresistible, and then
adIeu, long adieu, TO our boosted II.
berries! i need not here remark that
am an Incorporating enemy 10
national bank "a any form or shape, a.
IA violation ol the Constitution, and IN
conflict With those great principles OF
democracy which lie al the foundation
Of our institutions.
] have merely sketched my objec.
tious 90 ihis gIlded scheme. will
hereafter eularge upon them aud pre-
sent others Ian aware that our bank.
ing system Is unsound add defective
aud needs great reformation, bat I 70
Tor REFORM, nOt Destruction. 1 40
decided advocate lOr great snlarge.
ment Of the specie basis-such an rn.
lsrgcment a. vail iaiuse It intl al the
business transactions OF the farmers add
mechanics. leaving bank notes almost
entirely for extended commercial opera.
lions. see az Ssy 10 elect this bot by
gradual sNclusion Of small notes. IA
peuence has amply tested that notes
and specie VI ibe same denomination
ALL not circulate together The NOES
Danish the meta. Hence, 10 introduces
a more extended metallic circulation.
The exclusion Of sa.all notes By law l.
iadIsPcosabiy necessary. an will.
lng 10 90 on ultimately, bot gradually,
to hfly OF one HUNDRED dollar notes. II
lound necessary snd sHpedient. 10.
H. A..