Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1837-11-15
SPEECH OF MIR. MASON,
OF VIRGINIA.

as repositories IN certain cases, on
Pablo OGcerS. Delivered in The
House of Representatives. Of the Uni.
ted States, October IL, 1887.
The bill being under consideration,
Mr.. Mason said,
Agreeing, as | most cordially do, in
the several measures which have so
far been presented by the committee Of
ways and means, for the consideration
of this House, it is with the utmost re-
luctance, that | am now brought to diff.
fer with those with whom | have here.
tofore acted.
The difference, however, am plea.
sed TO consider, is at last but one Of
mere expediency, and in itself contains
nothing which should sever those who
are united otherwise in the preserva.
ton and support of those grea, and
leading principles, which actuate politi.
cal parties.
Difference ofopinion necessarily per.
tain 10 deliberation-it is against the
constitution ofour nature, that il should
be Observation-Disclosures, reason. and
sound judgment are alike hostile to en-.
tire unanimity-nor would our repre-
sentative government be any thing
more than u mere formal acquiescence
in the will Of some ordained superior,
if the doctrine were allowed to hold,
that party discipline exacts an uncon-
et1araH ynnottnn IN nuaru nnpnSnrn
which brings a recommendation from
the Executive chair.
Such is certainly not the spirit of
Institutions nor should it be the
spirit of any party, that would act
safely and wisely, or evon successfully,
in the administration ofthe government
committed to their charge.
Having thus promised, will proceed
at once to state my objections TO the
bill under consideration.
Those who have brought it in, ad.
dress its claims to our favor, as u mea-
sure simply intended to provide for the
safe keeping of the public money. II
is said hat the former repositories,
the State Banks, having proved either
inadequate to the duties required, or
unfaithful to the trust repesed in them
in this branch Of the public service, ii
is necessary that government now
should take care of its own interest /;
and that this viii be most etiectually
done, by a return to what is called the
legal currency ofthe country /; and by
constituting certain fiscal officers of
the government the keepers as well as
the disbursers of the public money.
The machinery as certainly very
simple, and ifthe only end to be attul-
ned, were, in truth, the safe keeping of
the public money, however, might
dissent from the expectations of those
who have planned its operation, lcould
not see in it those insuperable oblec-
lions, which impel me now to reInon
strate against it.
The evils, sir, which we arc expec-
ted to remedy by some adequate law,
lie far deeper in the public mind than
any alleged insecurity of the public
money-Evils tor which no remedy is
provided by this bill, but which will,
in my judgment, be fastened upon the
community by its passage mean the
present degenerate condition OF the
currency.
What is now the currency of the
country | ask not what ought to be,
but wha: actually now is the sole cur
rency?-the only medium having ex-
changeable value, by which the bust
ness of the country is carried ON Il
consists entirely from n end OF the
confederacy TO the other, of irredeem.
able bank paper--every payment that
is made, every debt that is collected,
every transaction ofeyery kind, wbeth-
er large or small, into which money en-
tiers, is carried on aud ERECTED by pa.
per that has been issued by the State
banks, and which they no longer re-
deem with gold or silver. These me-
tails have passed entirely out OF clrcu-
lation they form no longer any por-
ton of the money Of the community !
treating money as that only, which,
for the time being, serves as the SYM
boil of exchange, Of things having mar.
ketable value.
This condition Of the curreacy is the
true and great evil Of the times; it ef-
fects the people in their business, pre-
ciseIy aud in the same manner, as 1t
affects the government in the conduct
of its affairs and there can be no rem
edy, at all adequate to relieve the 60
yernment from its embarrassmcnts,
which shall not, at the same time, and
to the same extent, relieve the people
from theirs.
In considering this subject as ! pro-
pose to do, it is unnecessary to 60 al
large into an examination of the causes
which have operated to bring about
49,, oc tb;nrs do not know