Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-10-26

r--,s..-.s,-s s.ss.--. -rz.zz-
however inro,su. in itself exert ma eentrollin
influence IN the general currency. " e ticu d hi
the sens.ptian ri.rs to Congress fe power ia Ia,
anil cs,rcf taxes, duties A5.. ia pr, the debts. NJ
of the rncd States" frrm the large Of tlie
receipts aud disbursements of the GoveruaIsul. tbs
rover is susceptible OF al eNesiSies and important
iear,u. on the crnrra currency ai the country. In
the exercise of il. !, Is incumbent on Congress Ia
make Instrumental in secure tn Tie whole country
ms far rs pnsshir the benefits OF sound and "a al
currency, equivalent every where Ia sarcie. l. W1N
be sn managed. b, receiving the paper 1nd employ
ing the asency al the State Banks, "a the liscd e
rlriuns OF the GUyerurneIt, nader certain ,alntHfN
reSticnns and conditions. - 60 inpft 10 die i>surs
al those hai,as. forming tic actual tnaenc, Of tho
country s,ine of the most esseniia qualities oi i
sound. sIahlr AMI equal circulating medium. But
IT, on the niler hand. tins Incidental tonifol through
the revenue power OF The Government. over the
al currency of TIL county, j. be abnIenci, mud
that cnrrenc, be delegated exclusively, pro
posed. lo the separate and conflicting legislation of
the individual states. Our whole ninnetarN system, al
srctinc wide, aud deeply the Interests al saeicts.
must INTO Wild disorder and confusion, and onc
of the highest objects oi the constitution be nahed
aud detcaied.
Tins, sr vas the ,loeiriuc scldy maintained hs
the late nstraIion. ffon the reiIusdl OF the
Dcpositcs from the Bank ol the nItcd States, down
Ia the close ul that administration constantly
nut forth bold relief. Ia the Messages ui the Prrs
lieut. ana Tie Reports ul Tue SECRETARY ol ut TIA
sury rs will The Speeches oi t,ledding iat ms
IN tins aud the otllrr branch OF Congress. The oh
CATION of the General Government 10 watch over the
general currency, and To secure to the "hole county
as Tar as possible. the benefit al ogcglating medium
that should be sound and of equal value, Vas distinct
" recognized and annard aud 1t vas eouiended
that this object could he olicetuaiy accomplished
lhruush the State Banks. by the agenr, 81 my ~
iional incorporation. hc management al the le'e.
nue. through those institutions, vas 10 he the nstrn.
,ncu by which The end MAS to be accomplished, aud
the particular mrans r,hrd on, 10 nuke 4 sup
preston OF the small notes, aud some oer returns
IN the currency. the conditions oi deposlie 81 the
public funds IN The buiN>. and OF the fCceRablly al
their notes payment OF the public ducs. lih the
employment Of THESE means, the Late President, III
his last annual Message, bur one, I" NouslcNs. sad,
I'VE should gain Ia place oi tie Bank III the
Emitted STATES = PRACTICAL tcinfm IA the Whoc paper
system of the country and looking forward 70 the
ultimate suppression al all bduh notes bt2r hfcRiy
toliafS rs the rc,uli ct tlIs p"hoy, he ird II win
cufhnsiasfie patriotism, ~ forming the lis
tory ofour country, which Wnnld he dwell upon Ih
ejirht b, every tiue friend al lis bcfS aud dtpcu-
,leuce." Tn pfescn hie Magistrate III ls celehlat
I'd letter To \ ncmber of the othet House speaking
Ut this same policy, saudi "u1thaur but idHtd Pr9-
aecpiion Of n bs the General GofUnlnrtl aud The
States Is necessary place H. on footing oi equd
iiy with ohrl oaiiol~, cnloyug, m The highest de
cree. the advantages ct stable and unnrn currency
In all ihiS | NJ, slurrtc CONVERT, auI III >ill.
still believe that II IS The du'N ut tins GnNenuenl-a
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at 'he H'ha''' h'll Il ''e'N9' '''e '"il"' '''''i'
sanction ol bal HOUSES "' o"s', :" '' ~ -
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