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

done prior To tbe suspension, but IL "A The future
the .dange[ Of an incpr,ertible paper none;
being indefinitely or permanently fixed UPON
the fsopie, thai ellis them with approximations
Our great object should be 90 re-estasli,h .
sound currency; aud thereby 10 restore the
exchanges, and revive the business Of The
country: -
rhe first jmwe..iou which the. measure,
brought forward by ID. standardization make
-, INA, they consist Of TEMPORARY expedients,
looking TO the.supPty ofthe necessities Of the
iTeasnryS or, so far ~ any Of them posse~s a
permanem character, 'i:s tendency ~ .rslhsr
TO ssgravste than. alleviate the sujfermgs OF
The Pesfje. None al them pfopo.e. 10 recti;
~ the disorders in the actust currency OF al g
county; bot the People. tho Stats, and fhr
banks, are ZEN TO siait for themselves as they
may or can The. Atnipistfati6na after having
interviewed between the State. and their banks,
and taken htn into the Federal Ssrxice, With
out'tho consent 6f the States; after having
Drought them or contributed 90 bring them,
INTO heir present ,itIztion now suddenly Turn.
III back Upon tbern, leaving than 90 then fate.
It's DOL. conienr with ihat, IL mu,t ABSOLUTELY
dseredlt their issues. And the yers PeopIe
who. were told by the Administrator that
these. banks would supply them with. s,better
currency, are'h0v ieit Ia siruggle a, thew eau
with the very currepcy whtch tile Government
Recommended 70 ihen, bui'whieb Il now re-
fuses itself TO receiSef =.
The prefessed object Of the Administration
Is 70 eStsblish what IL terms the currehcy of
The constnuiio~,' which IL proposes 10 serDmt
plt.h BY resfrieting The Federal Government,
10 all receipts and payments. TO the exclusive
use 81 specie, and by refusing al bank paper.
whether Convertible OF not. u, disclaims all
af nFaA u.
bank, of the States; bat We shslI better deter
Inhe The design. or he efirc, Of the .sissufe
recommended by .oossideriog tlrem together.
~ one systeai,
j. Tie first - the sub TIRE asarie,. whi.-ir ar.
10 ,te u'sdr the deposition ies of all the specie
collected and paid out Tor The service Of The
0enerai Government. d,scrediiiug and ref,--
ing oil The notes of'ths States, although pa va.
Ole add paid in specie. -
p bankrupt law for the United States.
le'elled 81 all the State Backs. sad authoriz-
Ing the seizure OF the effects OF ATTY Of them
that stop payment, and the Administration OF
their effects under the Federal suthority sx-
ciusively.
,. A particular law fur the District Of Co
lumbia. by which all the Corporation aud
People the Drstrict, urder seTere pains and
penalties, are prohibiiedIr q iTcu ting sixty
days after the passage Of the low, any paper
whatever no, convertible into. specie on de-
mand, and are made liable to prosecution by
.iudir tnept
4. And lastly, tho bill Ia suspend the paw.
mehts OF the fourth iRsts lmcnt ~ the Ststes
ey The ProtisIons of which, he drposiie barfks
lndehled Co the Government sre pIOre,r al ~.
discretion ot the SecTeiar, of the Treasury .
It's impossible 10 consider this system with
out PerceIsipg tlat Il - AIMED az. and, IL e ar
RED out, must terminate 10. the total subyer-
sion OF ihs State banks; and that they ~ ~ ali
Ne placed II the mercy Of the Federal Go.
vernmeni. u IS vain 10 protest that there
exeiA no design sgsind them. TIE eject Of
these measures eaoROi be m,,uoder.tood.
And why tbk new experiment or untried
exPed'ent' The People Of Tia, country are
tired u experiments. Ought moi the Admin
i-iration itselt To cease With themi Ought u
not to.ake warning from the event. Of the
reeent eleeiionsS Above all, should not the
Senate, constituted a. IT NOW j., be the last
body blend itseif 10 further EXPERIMENTS upon
The business and happiness of this great Pca-
pie' According 10 the fLesi expressions of
public opinion in the several States, Che Senate
= no longer. a true exp"ncni OF the will Of tho
States VI "f the People If il we're. Ihere
would be thirty-two .or. ti,ni,,four. Wings 10
eighteen or twenty friends of the Adn,inIstfa.
,Yn. y. It. desuabir To- bahi.b r,ss,eri,bIe
paper ifedidm, aud toNu'siRute tic precious
uSetais ~ She sole currency 10 he used in All
ifie NasteNtent Uf YARN d busluess of the ebtrc
'co0sfrt' ihink not. The qianti,y Of pre-.
cIous meta's' NJ ihs' World. Looking Io.our fan
dlstrIbutUe share OF the0,, y wholly INSULT
e'est. a eon'eTl5le PAPER is a great tine-
saving Snd lahoSsstinE inslrumept, indr Een-
IeGt Irs superior adSsnisge ~ trenSiers and
rem uancss A faepd, 10 tvpger ako tt,,n
yesitrdsy infnSurd pe ola single bark wto-e
payments and receipt, \, one dsy amotsste,I 10
tvO millions Of dollars. WI . time Wonld
not have been necessity 10 count such ys.t
-sdn p The % yHents m he circle of'a Jr~r
10 The city IL NrS York, we're SsIis,sl.H -.
.strsl yeas ago 81 fifteen hundred miHion. -,
flow .haoy tnep snd-bow saoy day. wosiu I,c
nect.ssry To- e0i0t, t,Ieh a SnaS Young.
groSIng, and fHlerpr,si"E People, Ike those
q ihe linheh Si.ieS, more tAsn. Any other.
need upe sse Of ibUsc credits Which are h,cf
dem Va sound psper. syasm. 'CndH j. the
friend of ipdissut tlefit. % aHpsI'Otrs. g. rssi
Britain has nsosS freely ussd f1e cTeAn =, ,ien,
and Of Ill she -. The aso,t TNoSp-fons. " +,
must sesHc iO bs = coIA,ns iPeopls. ~
must. separate. divorce odrsstvss ftoni the
commercial world, sfld throw ourselves i..,
tOr csnii0''a- y ~ restrict oslf husfne,s a. tis
exclusive .se u specie.
u y objected sgsiR.i a Sopvcffihle paper
systems that y - tisbie 10 rNgai sirf,s sra ,.,-
lfoctiODs. and tkst ihs cUii-eqpeBrs . he
RE snJ fail OF prices. and s,IdJsa Iofiutss ~
sudden ruin. But u - Inc importation 80 sS-
poristioh 81 specie With f0rp.s ihs basis a
.pspcr, hat soessiOts these hneippi,Ofs d
spec'a aiuna weir tie nrlltu at ei,ouisiis,
The sane importation 90 sEpottstra - o.
so'Jd n'shs e plenty ~ srsfce. .nd fec
prices ~ Ne same oanbef, Tbv nominal -
sprsfeni prtcss wigd ysfy o.hf0ffs. bot a.
ssntstioh pppn tbe continually uruid D. %.
greet g The one case - ~ the other Ttr.g
aliefetibns do not result ihruf"TF from o..
nature ef the fnediuU. wbsibsrihsi o. srer b.
exclusively. ~ paper eonvsri,ble no s,.seio
bot from The epsrsiiof, = soansrss " =
commerce ~ lat. Ctat u ekafgesb's uHh 60
Psnsioas and oonirsetioss sud against coa.
MERE. snd got its ipsifumspt. should opps,-s
iiop ~ dBecisd.
ga,e heard u srged - ne Senator froa,
sossh CsroIina NJ. tslhoubJ 9Th 20 lntis
suprse ~ fhe ceurse n thts debsie nist
eonveribie paper Eolih rot susseF Or ~.
rcnry, bui that TIE ifuo sish5sfd - rsi1s 49,
% - found 81 paper currency nos eos seft,.