Cheraw gazette. [volume] (Cheraw, S.C.) 1835-1838, 1837-04-19
From The Albany Argus.
To The Editor OF The druuS -

To the Editor OF the argus -
SIR-Thc enclosed communication has
recently been sent to me by Il mcrchaE1
IN the country, waose good sense is qr!lc
apparent in tne production. And although
not intended fer publication, Yet preSumng
that TIC can have ITO Objection 10 lis gong
70 the publi>, | take tav liberty of asking a
place for It in Your columns, and bcspeah
q careful pcrusal of ITS comcn,s. II con-
tair,s many sound pracacai views which
have an important bearing on questions
now under legislative discussion, and, if
properly hccded, may assist in leading to
beneficial rcSul's.
When so many crude notions arc aGoat
in regard to banking and the currency, 1t
would be We'll fox the advocates of an ai-
most entire specie currency, to inform the
public from whence they are TO procure
specie adequate TO the performance OF the
business OF the country, should their favor
i,e project be adopted. II aiI the specie
in Europe could be transported TO this
country, 1t would hardly be sufficient 10 the
business that VIC now transact bv our cred.
itsystem, under udicIous combination OF
specie and paper. This is part OF our
system. and intimately connected and
blended with the business Of every State IN
the Union, and no commercial country can
flourish without II.
Suppose we should attcmptto adopt slI.
Yer as The medium of business, as has been
the case in Spain for a great number OF
wears: how could commercial transactions
De conveniently carried Or? In that coun-
fry q merchant must take his bag of Span
ish dollars with him; and if he has any
considerable amount, he must not only be
at the expense of poricr OF carrier TO
transporiit. but guard TO protect II; and
whom he arrives at his place Of dcstInalion,
his dollars arc worth no more than good
convertible bank note Of the same a.
mount.
Ii NAV perhaps be said ,hat scll s!:ail
be adoptcd instead of silver but now soon
Gun the requisite amount q gold be furnish
cd,or from whence IS il 10 como! Our
coinage cannot supply it in quarter OF a
century, nor have we Il suttlclent amount
of the precious metal from which to manu-
facture the requisite supply. we may
perhaps so rcguIaic and fix The value OF
gold and silver coin by law rs TO invite and
induce its importation, but tins can DC
countervaIled by corresponding enact
ments in foreign countries; or Il dram OF
specie from those countries may create
cmbarrdssnrnts there, lhat may seriously
affect Us, as has been the case III England
during Inc past year. The drain OF Spccle
from that coun,rv las already caused a.
larm and embarrassment, and tic result
has been dlscrcdlt of American s. curl
ties, for the very reason that II was deemed
advisable 10 check negotiations lest 100
great an amount nigh! be Withdrawn. The
relations between Great Britain anu this
country arc SO blended ana connected thai
the cnbarrassmens III one country arc ST.
riousIy fclt in the Other.
Wnile | wouiu require sufficient d.
mount of specie to give stability and safe
ty 10 the paper circulation, would adoP'
no rash experiments, nor run INTO eA-
rcnes that may grcaly cripple and cmOar'
rass the country.
VIA, do .:.c advocates .: nearly an cn.
tire specie currency expect rc gam by get
ting rid OF, rag money, as ti'cE term II,
cycep,i. bc q yc;n fi,ur-tlI'ha q 'hc cor.