Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-11-06

10 MI uhShillul charotecr mig hi set the world
On ''re-and So the Bank, corrup,ly managed, micL
create more and greater evils an il could cure But
II we are 10 throw awayeyery good thing with which
Providence has blessed ns because its abuse may lead
10 disastrous consequences wha, should we have left
worth preserving
Consistencyof Nr. Calhoun ami he Uasliiaeton Re
| former.
/ The Boston Atlas republishes the subioned cx-
tracts from Mr.. Cahoun's speech on the Removal
of the Depositcs
A" might say, with truth, rha, the Bank owes AS
much to me, as any other individual in the country
aud might add that had II pot been j6r mn efforts IL
'eoafd not haoe been chardcd."
I" 1t is said that the Bank Ind no agency a, least
efficient agency. in the restoration of specie payments
IN lsl7, aud that it had failed furnish the country
with uniform and sound currency. which had been
promised II It's creation. Both of these allegations |
pronounce 10 be withou, just foundation. 70 enter
INTO minute examination Of them. would carry me
too lar from the subject, and might content myself
with saying, that having been on the political stage
without interruption, from that day to this-having
been an attentive observer of the question of the cur
rency throughout the whole perlod--thai The Banh
has been an indispensable agent m The restoration ot
sPccic payments that WjoRt II. He restoration cooLi
not hare been c6trie short ~ he inter roSfrdon ot
all the monied iHstatonsofH he copatry and an eniife
dePrectdftoa ~ BdRE paper: hut has give" eurran-
cy far more uniform, between the extremes of the
country, tlan was auto paied OF dreamed Of at
the time of its creation"
How do the opinions advanced by Mr. Calhoun
IN l037 square with those avowsd in the foregoing
extract from his speech delivered four years ago
the very speech TO which Mr.. G. and his friends re-
fer often, TO vindicate hls consistency Had it
Inn,, L. -.
an apparent feeling OF pride in his asency-Mr. Cal
houn asserts that the BaIk would not have
been charcred-and now, forsooth, he runs = tilt a
galnst dis, his offspring, ASA VIOLATION OF Tnr
CONSTITUTION, to which lac yielded reluctantly then.
as ever, the unfortunate victim Of circumstances
which he could net control and by which he WAS
trammellcd IN his opinions aud votes. Bat, look nj
the tenor OF lbs speeches IN lSl6, when the Bank
was chartered, aud III 1891. when he boosted Of his
agency III brn in, that institution into benz, and
strongly ureed the clongation of It's chatcr-and do
wesec any i1erng OF purpose-any hesitation Of
manucr--any thing like the uhcwarm support which
men give to measures which they do not approve,
but which they are compelled by circumstances to
acquesce in as choice OF evils! Noihime OF the
sort. Mr.. Calhonn's support of the Bank both in
ioIp dnu III ic'i MIS- Nv Just SNCn Sllirlt
as we should expect to exhibited by one who be
ieved it MOI only To be the best fall possible schemes
but the only one which could give uniformity 10 the
currency and stability to the prosperity of the coln-
Try, We deeply regret Mr. Cdlhouns recent
course, for as Prince Hal sad of aslal we could
have better spared better man !" but he has clio
sen his course, and, he tells us, has nailed his
flag 10 the mast; y and cannot follow him
in his winding way ~rmu,t pndraeor To submit
to the loss OF his polished Scymctar in fighting the
great battle Of Political Reform. The gliltrring
sword of Clay AID tlrpondrrous batt!c-aNc Of Web
Ster, aud the stout hearts and strong arms of hos,
ofcongenal spirits Resides, are yet engaged in the
contestant We fear not for the final issue. " Truth
is mighty and will prevail
Oar friend the editor of til" Washington Refer
m'r, has been no less inconsistent than the astin-
gushed leader, with whose fortunes - IN the coming
fight he has calamity and zcalousy identified his
4 writer in The Richmond Whg has been cx-
aiming the files Of the Rcformcr, aud finds that o,
the 2ilh of June, 1897, the editor of that pint in an
indignant commentary on Benton's letter to il dinner
party in Ohio conerauatine the country ON the sue
cess OF the Experiment, brsouglt Mr.. Van Buren,
to cut Loose from the dirty cabal'' which has 50
long ruled and has well nigh ruined the county,
Speaking Of Van Buren, the Rclormnr al that time,
says:
" lie VIII not thank us for counsel but we will
gVcl to him without even that charge: Sin reason
c6mnon sense, seli-rcspeci, individual security, the
peace and prosperity otHe COUNTY, require that YOU
should ayow the policy of Rives. Walker &c. and
separate yourself and forever from this diry
cabal OF Benton, Kendall q Co. We say this from
no fliendship or Partially 10 Rivcs-lor hesitate
not TO avow that wunll decided, prefer Kendall
or even Benton. as Pres;denf. 10 Vim. c. Rves.
he counsel Is dictated by sincere regard 'fur the
peace interests and honor of the country. Use it,
or not, as you please"
And, even late the 9TH of August as-one
little month before the meeting fCongress--,le Re
former said
! As the time approaches for the meeting ICON
Sress, speculation as to what that body will do,
Is more active. by advices from New York, we
learn that the party there divided between new
National Bank (ihe mother bank in that city with It's
Chief branch in New Olleaus,) and the scheme OF
| separating the banks from the Governments which
means SO far as we have heard explained, to Gre
ate two currencics-a government currency OF specie,
and Il mercantile currency of paper. The result OF
all experience is that two currencIes of unequal value
cannot exist at the time in the community.
! The effect of The separation ofjhc Government from
the banks the terms proposed that is to require spe-
Gle for all government dues, will be To dscredt pa
per it will give specie fictitious value and induce
! all persons 10 hoard it, 1t that process, super
| induced by the specie circular, which caused the
Suspension of specie payments. 10 lesalize such
measure will be impossible. Congress cannot be in
duccd to do it,"