Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1837-08-09

ASHORE (N C) Citizen.
From the National Intelligencer.
A LETTER FROM MR.ADANfS.
The Boston Daily Advocate of the 18th of
July, contained correspondence between
Messrs. VIM. Foster, and John G. Adams.
MIR. Fc7ter requested MIR. Adams to favor the
public with his views on the appropriate policy
OF the government in relation to the revenue.
MIR. Adamss reply is as follows:
Quincy, July l, 1887.
VIM. Foster. Esq. of Boston:
Dear Sr-Your friendly letter ofthe Dist
ult. has, perhaps, remainedtoo long unanswer-
ed; but when l received it, had expressed
opinions respecting the present condition of
or public affairs, in answer to INQUIRIES
from some of my constituents Of the twelfth
congressional district, which have since been
pub shed, and which presume are as expli.
cit asyou may think they ought to be at this
time, and which will pass for what they are
worth IN the community.
still believe it the duty of every good cit.
izen to contribute, according to his ability, to.
ward forming and modifying public opinion.
because she is more than ever the queen of
the world, but for the regulating Of my own
conduct, long and trying experience has
taught me two lessons, though not always to
square my conduct by them. The first is, to
dstrust the correctness of my own opinions
upon every thing pro- 9ctive and conjectural;
the second, never to fatter myself that my
opinions will have any influence upon the &C.
tion of any other human beng.
- <Io L..
try, l have very decided opinions upon the
past; differing, perhaps, considerably from
yours; certainly differing from those of
large majority OF the people of the United
Safes. And as our views ofthe cxpedient ac-
tion for the future, might, in great degree,
! depend upon the conclusions to whichwe have
come upon the past, it is impossible that the
measures which ! should deem the only effec.
tive remedies for our complaints should be &C.
ceptable to the ruling power of the country.
| am, and during great part of my life have
been, in the minority. 1t is the business of
the majority to propose and accomplish
measures. 1t is too much the practice Of mi
nor.ties to expend all their energies upon de-
vices to defeat the measures of the majority.
The question of right and ,erong, so far as
my experience goes, is of use 10 either party
only for the purpose Of making professions.
We are now in the midst of national
bankruptcy, occasioned by the insolvency Of
multitudes of individuals. We are now told
that all the banks in the United States have
suspended specie payments. And what is the
suspension OF specie payments but setting the
laws ofproperty at defiance! Ifthe president
and directors OF bank have issued million
of bills, promising to pay FIVE dollars to the
holder of each and every one of them, the
suspension Of specie payment is, by one act, a
breach of one million of promises. What is
this but fraud upon every holder of their bills!
And what difference is there between the
president and directors of such bank, and
the skilful artist who engraves bank bill, a
fac simile Of the bill signed by the president
and directors, and saves them the trouble of
signing K, by doing it for them! The only
difference can sec in the two operations is,
that the artist gives evidence of superior skill
and superior modesty. 1t requires more tai.
ent to sign another mans name, than ones
own; and the counterfeiter docs at least his
work in the dark, when the suspenders ofspe-
Gle payments brazen it in the face of day, and
laugh at the victim and dupes who have put
faith in their promises.
| You ask what is to be the remedy Of this
state of things! There are two remedies, both
of which may be practicable. One is, that
the congress of the United States should ca.
ercse its powers to regulate the currency;
but they must do this (Which they will not)
| without consulting banks, their presidents,
| and directors. The legislatures of N. York
| and Virginia have already shown that the pre-.
sidents and directors of banks will advise
And the proposal of the president of a broken
bank in Charleston, South Carolina, to begin
with an amendment to the constitution grant
ing powers to congress, which have already
been granted to them, and which they have
twice exercised to the great benefit of the ma
tion, is an insult at once to our understanding
and upon our misfortunes.
AS little do relish his other proposal of
general convention of broken bank pres-
dents and directors, to enlghten Congress with
| their advice; convention of bankrupts to
teach Congress reverence for the obligation
of contracts, and how to make nothing but
gold and silver tender for the payment of
debts! OfalI remedies for existing evils the
last I would resort to would be spurious
coin from the mint of notification. Z
The other remedy which deem practica.
bic is that of Solon-a sponge upon the ac-
count,of debtor and creditor-wipe out all old
scores and begin again. This is the hard
money system, and SO far as can judge, ts
the essential system of the present adminis-:
tration-itis to detach the government from
all banking, and deal in nothing but the pre-.
c:ous metals If Mr.. Van Buren, is made of
! s.ntf.o go through with this operation. I wish