Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1837-09-14

- ~A-----------~---~s--r---e
Of the duties imposed on hira, aud whatever ulan
may be ultimately cstabl,.l,d, ~ cN part sh.!l
lie 81 discharged to give q lair trial. AMI the
bva prospce, Il success.
The character OF a.. fue.is TO be received and
dis6urcel 90 the transaction, ofthc GOVERNMENT
hkc~ lee Il, mand. our most car, tai von.idvr.-
! ton.
There can be no doubt the, those Who framed
, and al pied the constitutions having "a i,nusdi.
ate view the icprc,,.,cd psp,r ct the eonf..cr.-
Vy- ii hISh five bunir-d dollars 40 patr + ~r,,.
1t times, ouly ,'iu,i H. one doll.r H. cnin-,n.
tended 10 p,, Sc,t thc urrcucs & ,iuiIar ,,l,
- fer II tvast rvl.tr,i H. ttc trauss.ti.t,S If
d'r new eo'''nul' 1T. ti,rN gave a. C,,,,er,ss
/ cNtic powers 80 o",n 'a"i',N. and e. r,.,lst.
'hc Nslu, thriVui. Nuj - Ton isu es,,n; 10, &C.
tussu I" fNV u y. ~vr a. tH.ts nit,h Vurrpr4tnty
! til, ai,.fds, tia" - &. ,l,fb ,tnpiul,i o.
'r,air paper ,att,Hr, they prohibited a.,
Sta''s iru'i "a ki"g ,ny tl.n. bu gold .u,l >,l,yr
t;l ty'.,i,r - I'''u.ut "a dsht., aud t,te fret
! congress dt,,itd, ~ p'sitNc law. that 'hc r.
Venue sbo1iJ Lc i,,,n,d in nUtiiir., bat gold
,''d SILVER
Public rNi-rue, "a the oai.ct ~ the govern
"rnt, Nithu'i j,vy,t r. .i.i-tiNc sut,1riIy, I,,l
20 Tee u>c al banks f,s-I u. to ihr t.. .suiN
Ia admitted deviation from, tir low AZ III. sau,,.
priiud, s"'l ugd'r thc satuc tNis,u,y, t,,. So
cr'tsrN q thc Treasury viewed tbs Iui,- a.,
I'aNW'Ut ut duli,s. ihe sole .T,,,ind ,u Nhitt
tl'v pt~cticc tins cpu.rl. need, ~ss thcn ~ LAS
'nsc, t,'u lusit,'', - Tia eat ia. imgi'di t.
sud corV,uisut tNti.usv Ut su,h uutts i,r su.-
e'e. lhc guN,rutn, 90 lid n,leed receive Tie
'"eo"N'ttb q auicS ~ tte ha,iks jutb ~, ,l,hi-
I culucs Oi Nsr; atl tii,. coInteuuiiN submdI,,i
J Sitl'uui murutrr u tee unequal TAXATION i..,i
sluiuylci C'i, 81 ~h,,h siici, course Nas t.tr-
duru'o. W tth thc Mar, tais t,.lui gene, tcn., =.
aud the auks we're as,in Obliged e. T..i.vn
their uotvs 80 GID aud sihrr. The tsc,>,t,, .
/ ~ accordance Nth pr.,i,u, practice, eo.iiun. a
Al IL VN
4,t At i.N2. Hud took the Notes of banks IN foil
confidence 90 their bring paid ~ s,.s,i. aa .I.-
mani, aud Congress, a. guard sgsii,st th, sii hi-
81 violation 81 this principle, have dc, lar,d d,
Law. that 81 notes arr pail IA the Transactions of
the government, "a tGud De un,ior such circum-
| stances Esto enable the holder to ,on,cI them
| into specie without depreciation or d,l.N.
! vi my 90" duties uu'lCr il,c CNt,,,Us las,
when t.e banks suspended specie I,,, sn-u,., I
could 10, doS bre,,lons "e'e ,m"e'iia'ci,
II any Thing but gold aud silver or it, equi,a-
| lent; anal every practicable arrangement ~ns
made To preserve the public laith, by similar or
equivalent palunctts To thc puJIia crcddsr>.-
! he rcNCnuc from isuds had been Cor i,ur time.
Substantially ~ coli ,tud. uud, the order issued
by the die, ,IioI, OF NV prcdrc, s,or. The IL
Icrts 81 that utd,I lad been 80 S,Iut.ty aua u :
loree"t ia rrsnrd to The increasing ius. ,urty II
haik paper lad become ~ apparynt, ilist even
bcio'r the catastrophe, hsI ,rsJi,e,I not to ia
WIN Na ihtsttNh. '. prgttks ~ "a
decide whether thr revenue shall continue u L,.
so collected or tot.
/ The receipts into the treasury, If bank notes
hoi redeemed ~ specie GA demand will not,
presume, Lc sanetOncd. II soul 4, stru, with
out The eNcusc VI war or publ,o distress, th,t
equality IT imports, aud identity NJ camnicryt A
regulation, which lie ut the Foundation Of our
conf, dcrHry, and would or tu each s,utc n al.
rc,t temptation to increase its iog,.i:n trace b,
deprcei-'ing u,e currency received fur duties il,
iis poiis. Such proceeding would also, 90 =
great degree, iru.irAte the policy 80 birbI,
cherished, Of ,ninsing Into our sirrulrion (,
lag proportion Il Ihc precious meIils, nuIi.
cN, ihe Wisdom ut which nunr EN- doubt thut,. IA
there may bc different opIL,pns ~ L. the ,Nistt
to Which 4, should be carried. a.. u, suits have
he'n already too anspic'ou~, aud its success -
Too elostiy IDieTvoNcn With the future Ir .-t,,ri-
y uf the couEty 10 permit us for "A m5m,,t Ia
contemplate ~ abandonment. We have seen
! under its influence, our specie aucmrtt.d l., :
,ond eighty millions; our coinage iucr. ID y,
As 90 make that OF gold amount, blIwern August
| 1881. and December, 1886, tn tea million. Of
dollars; exceeding thc whole oOir.yr o, the mint
during the thirty conc pr, ,iuu, ycaI- The ,,rns-
pcC ui lurthct tmpruN ,mcnt continued without
abatement, until thc n"tncM uf th, susp tsioi.
oi specie P"ymetis. This policy las now ia
ueeI bee" suddenly checked, bat u stall Ia from
bc'"s "Ntithto~n. Amidst ~ conflicting a., o.
rieS, one position j. unLrnia5lc: tic nrr,i,,u.
metals viii invariably disappear uhrn IN, r..
ecasesto be necessity Tor tlcir use ss n sireu-
listing medium. Il was IN siriet accordance viii,
ms truth, that whilst, ia the month Of Nav last
they NcIe every where seen anil were ,,,fr,ut
fJr all ordinary purposes, tl.ey is pprar,,! tn,
err IL ion the moment the paw iut ~ al ,lrri,.
Mas refused by the hanks, Aip! t!,. community
tei'l, agreed % dispense with it, c,n.,lo,m,,t
| ihg'r plaee was sppplicd by currency - ,Iu-
| ,'''t oi paper, aud, "a many eases, Il Ihc worst
| description. Already are the bank notes NOV
"a s'Ieuiativa greatly deprecated, ..! Tie, nu.-
tu''e ~ 'Hiic bet~ccn UUe Il1rc aud auoth, r;
ihns diminishing aBd IA iI, unt q, The. a a IN
! oi property HGd the pr,re II Iaiour, and failing
w SUBS r'', eHceli 1t heavy lus, thc pIr poses
"us'"es' WIN each snc,' eding day ihc
nvtsilie currency dccreas, = by spme II a. hoard
cd ~ The n~tural fear, that onrc parted n l, n
cannot be replaced; ~hilc b, t,, - Il 1, .i,t.tt-
ed from it, more |, sitinlatt u,e, tor thc..kt.,
gaii. should Congress ssueii,u Ii,i, rlnI,t ion,
o' 'inS'' 10y making iIrcdccm-,ilc paper money
terc'Fabie 40 pay nIcut 81 public ,uc. = tsut.,,-
y e''Sk to S'ac a"d s.lu,ary p.l,y ~iIi, 90 IN
probability, be cJn,eit,d islJ its ~ s,Iulc de-
.tructiOn.
II i true tliai tie bank notes actual, con.
'cTiiJle INTO specie may be received in nav
hent oi the revenue, without BE- inE liable Ia
all these objections, and that such a course
may 10 some extent, promote Individual con-
lt"ce' 90 object always t. be considered
where IL does not conflict with the priucifls.
: 80 hS'NthHthtt UT tHe general welfare az
Tie eOuniry. II such notes only woro rer,i,-
ed, and always under circumstances sli,.,,uy
their early presentation for payne - and n
at short aud fixed periods. they were convert
Ell in'o specie, TO be kept by tie officer. # the
treasury, some of the most seriDi,, oli.t,cl..
.o 'hcir reception would perhaps be removed
10 i'iain the notes IN the Treasury would be
10 renew, under another form, the loan, ~
ru'i'c money 10 the baHAs, aud the evil, eon-
scqIont thereon.
IL -, however, a mistaken impression. TIA,
any large amount of specie 1. required 6gr
public payments. OF the se,snty or s,,bt,
millions now estimated ~ be ~ tho co,,ptrv
ten millions would be abundautiy sufficient 6,r
That purpose, provided an accumulation Of A.,
large amount Of revenue. beyond tie nerc.,,. |
y wants Of the government, be hereafter pre- 4
vented. " T. these considerations be sit.J /
We facilities Witch SiiI afiss from en,b.i1y /
The treasury to satisfy The public creditor. ~ |
iis drait OF notes received ia payment II tie |
public dues, Il may be safely assumed tl,.t ro
motive Of convenience 10 the citizen require. /
'hc reception Of back paper.
To say that Tie refusal d paper money b, !
lhc government, Introduces an unil.tfi..f.1,.
baion bci"een The currency received by n /
and mat used by individual, 10 their or!i1,r, /
Affairs ., 'n ny Judgment, 10 view Il ma We /
~ erroneous light The constitution rr,,l,Lt. |