Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1837-05-24
THE WAR UPON TIE CURRENCY !;
It's Commencement and Issue.

The Boston Atlas says: We would
call particular attention TO the facts de.
yeloped in the following article, which
presents a view of the whole course Of
the Executive in relation to the curren-
cy-showing its original plan Of SUBJ
stituting Local Paper Currency for
the currency Of the u. S. Bank the
admitted failure Of that plan the late
alterthought of Metallic Currencs,
and the admission Of the Executive that
it has destroyed the Currency, and
done little" towards Introducing ano.
Their. We give the history of the whole
process as it is furnished by the docu.
ments Of the Executive Department.
Such a series Of failures, frauds, and
laIsehoods, broken promises and explo.
ded experiments, us are exhibited in
the following paragraphs disgraces the
diPlomatIc history of no other admins.
tration, popular or despotlc, that has
eveffallen under our observation.
1929.
N''f sAA'a ~ bfFp - Ia III BE hEmEDIEp.
" II must be admitted by all that it
(the United States Bank) has failed in
the great end OF establishing n UNIFORM
AND SOUND CURRENCY. "A. Jackson.
augmentation Of Executive pOaoer the
real object.
g submit to the wisdom of tho Le
glslature whether IA national one (bank)
founded upon the credit Of The Gorern.
ment and us revenues, might not be de.
yised which would avoid all constitu.
tlonal difficulties, and at the same time
secure all the advantages to the Coz
ernment and country that were EXPECT
ED TO result from the present Bank"
ID.
1880.
SUBSTITUTE FOR U. s. BILLS.
:" 1t is thought practicable to organ.
re such bank with the necessary of.
ficers, as "A branch Of the Ireasury
department. The States would be
strengthened by having in their hands
the means Of furnishing the LOCAL PA.
PER CURRENCY THROUGH THEIR OWN
BANKS. "--Andrev Jackson. Here is
the original plan. Not syllable of
the Metallic Currency in either ofthese
messages. This part of the humbug
was entirely an aterthought. The
original plan was to substitute a Go
vERNMENT BANK for the Bank of the
u. S. and to furnish the people with a |
paper currency Of The Local Banks. I
1881.
Entertaining the opinions hereto.
Tore expressed in relation to the Bank
of the United States, as at present or.
gained, leave it for the !
present to the investigation of am en-.
lIghtened people and their REPRESENT.
ArIvEs. II. Jackson.
Their representatives. accordingly |
investigated the subject and recharter-
ed the Bank.
1882.
THE ACT PREMATURE.
" W hatever interest or influence has
gwen birth to this act, it cannot be
found either IN the ioisheS or necessities
OF the EXECUTIVE DEPARTMENT., by
which PRESENT action is DEEMED PRE-.
MATURE. "A. Jackson'S Veto.
And this after the subject had been
three times brought to the attention of
Congress by the Executive itself.1
Neither upon the propriety ofpre.
sent action, nor upon the provisions of
this act was the Executive consulted"
ID.
1t is a singular fact that the phrase
METALLIC CURRENCY, or BETTER Gun.
RENCY, does mol occur in The Veto Mes.
sage, nor is there the slightest ;ntima.
ton that the Executive CONTEMPLATED
at that time any other substitute for the
bills of the United States Bank than
the paper currency ofthe local banks.
REMOVAL OF THE DEPosITEs FIRST
SUGGESTED.
such measures as are within the
reach ofthe Secretary OF the Treasury
have been taken to enable him TO iudge
whether the public deposites in that
institution GU. S. Bank) may be re.
garded as entirely safe; but as his Ii.
MIrED POWER may prove inadequate
to this object, recommend the subject
to the attention Of Congress, under the
FIRM BELIEF that it is worthy of their
SERIOUS INVESTIGATION. An inquiry
INTO the transactions Of the institution,
embracing the branches as well as the
principal bank, seems called for by the
credit which is given throughout the
country to many serious charges i'm.
peaching its character, and which, if
true, may justly excite the apprehen-
sion that it is no longer a safe deposito-
'y Of The money Of the people,"
Here is a wanton and deliberate at
fa1gal 10 H.