Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1837-11-23

thirds of the money conlided to them and
were, not detected for eighty years. This
was the beginning of banking. The sub
system is far more advanced. nnd
the, sub-treasurers 40 doubt will be equally
;skilful with the Dutch direc,ors.'
"As our documentary system is now and
has always Grcu organized, there have been
large ,nonied and corhrnercial Institutions
cooperating with privd,S- individuals, in
conducting the cXchanges~ ecountry.-
The regulation and conducting Of e~xc!ian-
ges, is Il matter Of Infinite consequence in n
commercial community, and OF fearful in
hucnce ifconfded TO dircct.poilical conlroul.
Hyt The proposed system. you establish cXccu-
tive agents through the country. who, hay
ing command of Government funds, gnin-
to the exchange market. with irresistible
power, and control this great branch, ofcon-
mcrcc, without risk or responsibility. TO
This huge banking apparatus. to this I'M
checked contrcul over domestic exchanges,
add to the Government the power nf msnu.
featuring paper money AT its own pleasure,
and will any man say that this is a confsde-
r0ied Government. No sir, il is Il c01So!i-
dated, money Government: holding It's tv-
~ranical court in Wail-strrct-.nr To Wall
stree. arc all its tendencies. /, has been
said that the United States Bank, establish
ed in Philadelphia, las d tendency 10 rem
|iraliSm--ii is said that The bauLin@ system
6fshc StHtcs, with II bank in lever, village
and hamlet, has n tendenry,to ccniralisn-
but what is all this to that Irresistible cen
tralism which wiil'hc given 10 New York.
when, 10 her present ro%!iiical banking and
commercial power. you add the all ahsnr-
hing Influence oiihis new machinery which
| r,. mr. ,rstl, t,,, mathematical Coo, - = -
s%lcncss amd identity, brings every thing
within her already too powerful grasp |
cannot but consider, Mr. President the poll
cy proposed hv the Message, asthc very
opposite Of the true policy of thr Govern
mcnt. We should rrfnrm our suarm, rot
crush tive should deal will, the rircu,n
stances around us, not attempt a ncsv- crea-
ton. We should not cn,lravnr to filcc, an
entire disruption Of tho ties which bind our
financial destiny with ,i~iatcfiic Safes and
the people. hut Try to regulate then, for mu-
[tual hcnefi-try To make the banks sub
serve the JUST ends Of The Government,
while they are permitted to pcrEorn wha:
tic States created tirn for. Il is said that
the experiment has failed. and ongtr mol to
be again attempted. MIR. President, the
great experiment which has isiirG, is tia,
wiiirh the country has made wiIhtliis adj
min!s!raiion-tha' is The fatal experiment.
and tIaIthc disastrous iai'urc-liEH is the
experiment which il Is fniiv 10 expect sue
cess from. "O ci'ccl, c%nnIroul and contra
dict. and heat down This administration
would Cla"ci more for the onn'rv in prniu-
cling the true remedy of It's disasters. than
any thing else than can he doEc. The
remedy " hicll The case requires is oJnfitRcr.
Restore confidence, and You rcinSta;e pros
rcri'y: conquer line administration. nnt! yGu
restore confidence. All lis principles Of Ii.
nance have hecn wron.. violent end prcpns.
ferrous. All meme of property dis,ruSt ii and
its projects. Ifiic gseat oIirc, of The ven
ncnnre and Acrimony of the admiuis.ra'in
ii the rcv,lch and denounced Mr. B,ldl,
were tohav called TO The head ofitlc ,rcasur"
in place Of Mr.. u ooLhury. i, w2Gi.! in &c.
HaNs aid more than Il hundred million nibt
value cf the property ofil!c country: ii wuult
loosen those immense dcposites Sow Locked
up in the banks, and send them ahrnn,lin.t
the community; If wu;ld diSsirate Ike. [;
cloud, Tic gloom from nc:,'s minds. j
would do all this, because the cou,nlunil,
has confidence IN the wisdom. integrity AM
honor Of That prosecuted gentleman. We
need not expect the happiness Of such /
cnsclas ! have supposed, but we may, if We
INV, TcNlst tullllleICr Nv oNler -I1tlnS--D
our moderation; by our caution Of entering
on new experiments; by avoiding warfare
upon tho monied institutions ofltc country
hv showing that we feel deep sympathy f0l
the suferings of The country, and arc wiIin.
10 contribute within our sphere to their allie.
Walton. and to.take our share of tie burtter
Above all, sir, let us deal lcnlcriv and eau.
tiously with this mo>i delicate matter olcur.
.ency; and when we have manifested suci
!: temper and slcti purposes. confidence vii
he rcsiorcd.' $