Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1837-10-23

+ pr,.,I,ni 49, " euahl. ia a mater oi -
at,,a nirafs.rr nut - b. lei NY ny !isi9d'ef'
-, ,.,f,. al t..sz.~. all Hm.b, hendall. 'nd
/ pr,,.. ro,.,It IL, lalls ulaeJre,us good breausS
die, lpprt ia,fpla,r5t at tin greater weakness oil
3latin,. lhei 20 cenpri - 70 81 wong SiePie y
/ flicir CHANGING H. ala Iteit.
/. i will iciurp flctaiuu- Bankn@ system o. t'ie
/ stairs. II j., malfl>t hat by creating . l|ti'hy
~, ,br Bail, o be ratd non any daN N He year.
far i,lae sum. oi specie soa s them uHitr IL ne
e,s.its II strengthening thtf sPcfie basis IN iil1
Irrf.t. ,elrz tie krfcuue r TIE i'"'rihm2Hi VIII ot
p,d IN cold and si.fer. and tie Banks must De pre-
a,el IN that sfac OF thf.a Wien It arrives, Their
.prrr will mol INST IN then vaults rs now. hui VIII
nm, m, md ON more frequently But they VIII ma
I advantage IN Il. that the huijIon VIII hot iea't
die caunfry a. easily Is II does now. lie laws Oh
tt,flr Which carry IL 10 England TO cXtBCnsi b
inc,s u .asr II. vi" be To errai extent controlled
h,alftqaal OF umrc urgent demand iar II III the |.
.Si#ies. The li3uks must rcplcniSh then vaults to
me-. ihe constantly occurring drattsif specie oil ne
aii5rcf- ut HE Revenue: bnt IS that Revenue Isio
be paid within hs year III the sam" currency u
odd ard silver. the solvent banks viii hnd no duh
cult, m supplying themselves At par: for II Is only
fllc lmcian demand which raises bullion above par
/ They wlio consider II great dcStder1tun t"
" l,i the specie basis OF the country Will hnd TINS
scheme more elecualy answer their wish than
lleir chnne5eal project ol prevailing with the Banks Oh
% sovereign STATES issue notes under 81 or 100
dollafs.
Il is not 10 he doubted that putting the Snb-Trra-
sury plan Of ii Iaace into operation will severely test
tie ability Of the State Banks, and that IS very
strong argument in lis favor They who cannot
ABIDE thr test Of paving their own notes III gold OF
SILVER in ordinary times, have already failed IN iaci,
aud oueht To he deprived Of their charters. They
IoG.lt not to be allowed 10 swindr BIS law. That
many STATE Banks M" lnsolycnt, To the amount
fpas>ibiy OF Il hind oroue-hal understand 10 be the
impress al of the best heads ni The l. States.
Cn \ ire u =
ed bat ii 1t be true that n1niber aIc III Tins pre-
fdlcament the ascertaiued the sooner will
the country recover from the paralysis lnfo which,
under Jaehson's quackcry the State Banks have
be II the prime agents OF throwing IL. he banks
which nay ~u,tanfhe test will be regarded with new
coulIcucc, aud acquire large accession OF credit,
and die paper currency of the Union purgcd OF the
ntetmfXl0ie Of suspicious Banks, will drproach not
! to III" better currency which the Pets III ther
coHcrjt and cupdlry promised, but To that StabuttY
which Is The Ii 81 and most essential element Ia the
. constitution u Il sound paper currency. That the
pun salloq effected by the Sublr2asury mag BE- al
J tenled with some pain and commotlon 10 the com
muuftY, gu 5ht moi with patriot 10 be an argument
against II, seeing that the purgation Is necessary,
and Will br followed by safety, repose and pfospcrl-
~ Oar Banking system IS terribly vicious as to
have ramA upon the heavy cenSure olthe Political
Economists OF Europe, and must expose the coun-
! ny IL the danger OF periodical commissions unless
reformed. Now is the time, When the People are
prepared. by grIeyouS sltteilngs, inflicted by the
BANKS, 10 act with hrmncss and vigor.
shall lave to trouble you with tlIrl letter, IN
nlichl viii cndeavor 10 expose the weak and ilyo-
lous nature of various objections made to the Sub
Treasury scheme. Very K respectfully.
JOHN ll.PLEASANTS.
tioaedajo9, 13A Octoier, 1857.
REMARKS.
Ne shall be as btieias possible in our replication
to thccIlsle Of Alr. Plcasanrs; more especially as
hiXr IL in onr nny,r tn