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

whatever "a frrrivs frcat tim. muaev. "a
the sqaivs'ea ri a1iry iae saiaf ii which n lilf
right n lsaa'ate. Il jhis rliuripc bstrte. aHa
IL rasnht ~ rnntfaverea. ask wilai rig his q sa
gress h seeire AMI treat his al the Slatc haak
NJ money ifih- Stairs hsse he II q. illfn 20
rsir baas. what righl las Caacfess ~ regulate alifn
or their issars Stow mr the eoart il tn Cars3i-
tuition. 1t the rish, be admitted. what Is iifa-
tons. aud how the nshi &c sHhieeung llch "a d
bankfuptiaw IN taa, case toe dcHird II one br asi-
n,iftcd, &c OTHER flaws eef,sel Hence. and ~
those who nas3ilAhgnlh against il4e rtapasi,ia4
of snhiecinr the Siate halts ia bankrupt lfw ar
the clannrnus 10 ieecitr taeif notes, not seri-
thai the ihvrrS the ris OF the ahef. ] an
equals appnsa boih sfilniiafai and inrN-
pcdien. We are nrNtod. 70 separate ffnn the hawk
j. separate from lie People The bN1ks Hen, are
the People and tic reoiic ihc haues--u,ifrl p'tu.
tilted, and usepafshle; sad ~ tac Goyeruueei be-
longs the People hioows, nf course. acearine 10
this argument, II belongs alsn Ia the bauks aHl ii
course Is bound to do ilrif bllmgs. feel on 20
crave \ subieci and in crttr body, m almost IN
vncibs rcpu 2nance 10 replying 10 slich Arguments:
and shall hasten ls-onl, feualun. nnc 81 thr
fraternity. which shall coudesccmi 70 notice va al
possible despatch. The, have II hi ui admission
here and. IL disposed to Jest solemn an
occ aston. ! should say they uebf 10 be driven from
this cha ibor nader e 47sh rule Them VI of ihea
Formidable objections Ia the separaiiou famtlle banks
is that the Government, doing, iHkes al II
self and not Of tho People Why, bad supposed
thai the Government belonged to the People; that
WAS created by them Tor their own use, To promote
their interest aud secure their peace aud liberty
that in taking OF itself, tikes the most clrcia
vi care OF the People aud, IN refusing III rmbarf'ss-
ing cniangling and dangerous alliances with eorpo'
ratlons of any description washut obes ug the great
aw OF sell. preservation. But enough; / olnnot any
onger waste words ON such objections. intend no
disfespec To dose who have urged them; vet these,
aud az. umcuis like these. mainly relied on 10 cOnn-
tcryail the man, aud formidable objections, drawn
from the highest considerations HAT influence the
action of Government OF individuals, none of which
have been relulel, AMI many not even denied.
The Senntnr itom NassichusHls Nh NrusTrH)
urged an argument Of q setN different character bul
which. IN my opinion lac entirely faell Ia establish
lie asserted that the ground asstiu d Oh Tins sdr was
entire abandonment oi ece n con,iiuioaalinae-
lion conferred Wy abe Constitution On congress. To
establish s!!ta hr lad down tlc proposition, that Con
gress bound u take care al iie money of the
country Agreed aud with thia view The tonsttn-
eontefs us iie rigln al cnilng and regulating
the value OF CONS AZ ofdei supply the eonntly viii
money OF proper standard and sAitle; AMI = II an \
handanincnl Of tbs 1T "a take a. th b, does,
thu, II shah be expelled lrom circulation, rs sas
the fiscal action Of this 9ufelnmrat cS1rud~ }nl,
having iakea tins unreasonable raslinu. the Seaa-
Tor passed Day what means he Id not eoudr-send 10
expain,) from t,iuG Il the mnueN Of the cufn-
Try 10 the right 81 establishing currency. Gal'tba1
the right oil establishing bnh currency, Is | an
derstood HIN. ca both OF Ihes points, "afr him
~ the hands 81 the Senator toH Pennsylvania Nj
BucuaNAN.) who IN au able 1al constitutional aIzN-
inent. conipIerly demolished, il my pdeurnl, The
position assumed By the SsnalfrGon Massachusetts.
rejoice 10 hcIt sacll 1rgunefi from saeh quar-
Ter The return at The great state 81 'eansN hae''
10 the doctrines OF rigtd CONSTRUCTION aad State .Ili
sheds ray o light on tle thlch darkness Nl3eU ea-
long surrounded rs
But, told tint there is not gold and SILVER
enough Ia oil The chInnels of rircnaiipn and dat
prices would tall. Bcdsl. What that compared
10 the dangers which menace the opposite Sar
Bui are VIC SO certain tla there IS not su;iricucy
q" the precious metals to The purpose otcifculauan
Look al France, mnh hsr ahund ,nt supply, with hct
channels of Circulation fail "a oyrrloW ing Wh rotas,
and her lourishDg Industry. Il is true 3f our sup
ply is insufficient present.. How could Il be stilef
WISE The banking systslu has degraded and rypt.
led The precious pctals-dfifru them Ia foreign Lta
CLOSED tic mines, aud converted HEN plnlHe- in
10 costly vases, and splendid utensils and ornaments
administering TO The ft1r and luxury Of the npulent
Instead 0ibe,ng empoy HE standard OF value, and
the instrument ol maxim. exchanges IA, they were
maiieStlN intended mainly Ia b. BY ali. Wsr Pro
violence. Res'ors them 10 hcir proper functions, aud
they viii return from Their Punishment !; the mines
will again be opened; aud the gorgeous splendor Of
wealti'wl again reassune The more humble bat use
inl, form al cnIs
hut 9r. President, / am not dttru 20 81 Ii al;er
natives. am not the soenly. but the TREND ol ere
dtt-uoi sts the substitute, lul The assoclltt aud Ia,
assistant Of the mcta.. tnat capacity. hall cfr-
yer the metals themselves. object Ia = IN tn torn
which has assumed Ia the banking ~ stem. iurIra.
Sous that are nchhei light lew, and that nrljhcl
have nor can be answered The question i moi vile
thef credit be dispensed wnh, but isa ! s bc,
possible iorm--the most stable. the least liable to =.
huse, and the most convenient and cheap threw
gu, some IDEAS on tlf, important subject my open
ing remarks. have heard nothing To change my %
mon. believe hat Guyernme nj credit IN the form
suggested. combines all the requisite qualities Of a
cert circulation IN the highest degree aad also that
Government ouslIi Use any other cre1t bur lis
"~n IA ITS financial operations. When the Senator
from Massachusetts made his attack ON my sncces-
iions. | Was disappointed. ! expected argument. and
he gave us Remuneration. Il is often casN 10 enuuncc
when is harito relute and when thai Senator gives
dennnciaiions instead OF Arguments conclude thai
1t Is because lhr is plenty. and the other scarce
We are told the farm suggested is but a rcprti-
uon OF the old continental money! ghost tia, is
ever conlurcd up by all vino wish 10 give the banks az
exclusive monopoly of Government credit. The as
ser'ion is rne there is uat the least analogy be-
tween them. The one promise 10 pay when
there was no revenue aud The other promise to re
ceise IN the dues OF Government when there is an
bundant revenue.
We are also told that there IS NO Instance 81 il Gov
eminent paper that did not depregiac. In rrpl> 1
affirm that there is none, assuming ihe iorsn pro-
psse, thai ever dad depreciate Whenever paper
receivable Ia the dues OF Government had ANY ihlne
like far TRIAL II HAS succeeded. Instance lie case
oil North Carolina, referred to IN nay opening re-
marks. The drafts Of the Treasury ri this moment,
with all their incnmhrancr, nearly at par with
gold AMI silver aud mig lat add the instance aliu
died 10 by the distinguished Senator Il om Kentucky
IN which lac admits thai soon rs the Of the
issues oil the Commonwealth Bank ofkcntuckv wer,
reduced to The proper point IT'S notes rose 10 par