Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-11-16

t'iesr Lilo n,ac it, hnt eaf vaf, Ia " 10 ihoss Who ilsr
81, as asmueh ~ geld aBd #Iiser. II IS The 1T
flv rus ef uanuaueu', .iGd lie a.af rites II
Niiifl iut1i, hni IA tie fur5fls VIII h cNfs
1aheniea rfotH 20 ilasr Na baefa nnaHrely si the
| ir L.. ss.ne IL mas belbrale al Ae eyfent ol
The profit Ia llie >p'rHdid p1lat wtrh uu-
Idcl he nahr ri banktn2 30 gsfs and tatst l1finres
ulreh lave been fccamnlaffd niihis bfart at husi-
ness 81 ot llir mus n.fiaalei, tr de'sfnd tom
t lha pr1lreGre powers Of tl#t rBnHniv ms1 at
course ads sariatl 10 thr ees ri production On
|Hhe e'sat 4a d. The rfedn ~ Government. while #
Runii zrafs facilitate rs dnaHeal eptfaf phs, would
ts1 nothing, an ueNt tonof.iue both plf and the 'eo
nlc. m entfsr naffie ad taAng Ia ihe Gust al pro
dueiun. saficnwaHid rive every briach 81 oui INDUS
lay, agriculture commerce AMI manufactures. rs iaf IS
us etreBlston might extend great advantages both
n hrn1e aed Hbrosd.
l3nt lhefr remains another ael great advantage
ln ihr event ofwar. u"ould npen almost uabuundsd
resources IN eafrs IL on. nhou the rssity 81 re-
softine 10 What an almost disposed To call fraud
-p,hlie leaus--l have already shown hat the loans
OF thc Biuk Oi EHfisnd 10 the Government were W
y liile morr lll,n inene baek 10 The totrtnen' IL
pvn credits Il has : nioie less frie ni a loaus"hefe
the bautiug sysrn, prevails. II WIS pre- -emlncut'y
NJ our late .e,f. The rcniailnn ofthe Government
credit, IN thr shape o bills receivable exclusively with
gold api silver ~ lis dncs. aud the SUES ri public
lands, would dispense with he Necessity Of loans ~
increasing us hills with the increase of taxes. The
increase Of lavcs, and Of course, OF revenue and
prndinrcs wonld be followed lay an increased de-
mand Tor Government bills, while the latter would
furnish the means OF paying the taxes. without III
creasing in the same degree, the pressure ON tile
community. THIS with indioinus system OF fun
ding. low falc al interest. would 20 lar 10 exempt
the Government FROM the necessity OF contracting
public loa :, in the event OF war
| am MOI. Nj. President ignorant in making these
Suggestions Il wish hcm TO be considered only IN
thai lign1 hal 'olcn opposition every measure OF
The kind mus. be exposed. Banks have been 50 long
ia, he ans f1
~ natnfllly conclude HEY have IA exclusive rlglu
Ia H. aud ennsilet The Withdrawal OF it, even for the
n>e otlhc Government itself, asa positive injury
hlrr sumo experience on this subject. II WIS my
1ifnue lu tite sAld oathc side of the Government
against ihc bank, du'ing the most Trying period ofthe
life aar--fhc eiuie ei lsl1 aud lSf5-lnd never IN
my bic WIS eaposes TO more calumAy and abuse
No. ioI tyenun this oceasloa. II Wis my fast les
son on the subject. shall never forget it. pro-
pose Ia cipr 4 very brlei narrative OF the scenes
through which thcn pissed not nuh any feeling
ot eeolism ier nus incapable Of that. but IL
illustrate The truth OF much have saudi and 10 snatch
from Oblivion npt M unmppaanl portion of our inan-
cia history. STE The Senatnts tom Massat hnsctts,
Mr.. Mrsrlg,l y ifum Alabama, Mr. kING,l who
were thcu members ei the House OF 'enrcse ltatlves
athru plecs lnd they can ,oueh tot the correct
nos 81 NV narrative. rs Ln rs The memory Of iansac
mons so lone passel @lli serte.
fjte Ga1nees al the coaua, hal Al that timc. fl-
len into efplt co fusion. Nj. campbell bad retired
from The head of the fe3sfe, aud the ale Nj. Dal-
IT,. htA seeceede6l man al t1lruis, bold aud deei-
So. b,, v,,,,i.,,,.-i mi ms Of ihf Drp,ft-
~, ~. 64s, ,s,.,=t,,. II, and ia f,,r-
49,, H., .,,,,.,f,,t, 49,, fl,. ,,.,,,s l., ,e,,
- A., i t..,l ann oDa f., h, constituted ,l,,,,sI
t,,..,l, n Ina, ,,,,, -tnrls ,sf,rt h,1 beeu Issued
l,. ,ts -, -, ia. ~, l,.,,,, al ,I,. all which
~, .,,,1 L,t,ra m, uron,sed hand
o, ,,,t, lz,.I 10 makc loans rothc Government, and
wI. moi bonnn 70 pJ' specie DUNG the Wal, and Tor
'nl'' 9t'Ia '''' rs Il ',' ~ .;,.o Inn, IN ~,
- W "itt ''H'' '"'' .''' - -, ~,
,'lif .i''i NV ,"ih''epeei'r't % It. Id
"tel ae '"h'ah ny an "''d'N u ollIoeS ~ @
''A Pie"ipF" 'aii III M "e''9i''o" u l.
lui u ~ 'f''e "'''e 'n' "I'Ppe'",' u sustain u
N1nta non ~ to'oi' 'f'iA ',u orM,9 on u''
wa Ipht'l!if'} an ~ 'lll'af lad llAl eoh'ef-
s'iioa WIN VII l'|aas I'll ms request, e"'etiaih-
81 = hHl le'iMSs avn nm anu 'SAal'a ''l'i'
dtel In hd eNFi3oe3 hlt ri1h al "ool" eve IL
my early ana itsoiaale attention, a tnf Hlhe
had reflected bnt ltIle GA the subject OF b'hhi1R.
Many OF my i.n3caltlieads expressed desire hai
should takr prominent PAU IA It's favor 'Iherey-
ireme Anxiety lousri my attention. aud bong on no
committee, Qh y h1i been appointed before my ar F
WaI) teok ~ laf subject tor Hull nresll tailen.
"ilh every dsp lailon tpeiNfH mf support. ! had
not proceeded Ia before We struck with the MIA
ordinary character otl'e pejcct bau, of 40,
0J3,o99, whose cglIla WASTE consist almost eNcln-
sSflN at Government Ctr'u III The sh1pe oi STOCK,
aud u9 bound iolny ITS debts during the wal and Tor
Hlft years @lrlHHdS' 10 iurasl the Government
with loans To cary Oh tie Wal SAW at orce that
tiir effect al The Arrangement would be, that Govern
maHt nond boltu" back lis own credit, and pay six
per cent. per aunnh i1t +" hal they hid already pad
rieh az uinc. Twas Impossible tor me to give IT my
the difficulty ot NV situltlon, not only III opposing
the lfdtliug measure OF the Administration at such A