Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1837-08-10

should deem the coly effective rene.
dies for our complaints should b ne.
'cePtsSle to the ruling power Of the
country. ] an. and during . erea,
part 81 my life have been, in . minor.
ity. Iii is the business Of the majority
TO propose and accomplish measures. II
10 too much OF the practice Of mlnori.
ties to expend all their energies upon
devices to defeat the measures Of the
majority. The question OF right and
wr0ng. so far rs my experience goes,
IS Of use to either party only for the
purpose Of making professions.
We are now IN the midst OF nation
al NEUTRALITY-SUSPICIOUS. by the 10.
solvency OF multitudes Of individuals.
We are now told that ell the Banks in
the United States have Suspended spe-
cie paymSnfs-ahd what is the suspen-
sion Of specie payments but setting the
laws Of property at Defiance II the
President and Directors Of Bank have
issued million OF Bills promising to
pay FIVE dollars TO the holder Of each
and every one OF them. the suspension
OF specie payments is, by one act. the
breach Of one million Of pTomiscs-
What Is this but fraud upon every hol-
der OF their billsi And what differ
ence Is there between the President
and Directors Of such bank. aud the
skilful artist, who engraves bank bill.
fac .imile Of the bill signed by the
President and Directors, and save the m
the trouble Of signing it. by doing il for
them2
The only difference that ! can see
in the two operations is, that the ar
tist gives evidence Of superior skill. and
superior modesty. II requires more
talent 10 sign another mans name
than ones own; and the counterfeiier
does at least has work in the dark, while
the suspenders Of specie payments bra
zen il IN The face Of dav, and laugh az
the victims and dupes who have put
faith in their promises.
You ask what is 10 be the remedy
for this state Of things. There are two
remedies, both Of which NAV be prac,i-
cable. One is, that the Congress Of
the United States should exercise its
powers TO regulate the currency; but
they must do this (Which they " Ill not)
without consulting Banks, their Presi.
dent and Directors. The Legislatures
of New York and Virginia have al.
ready shown what the President sad
Directors OF Banks will advise. And
.he proposal Of the President of = bro
ken bank in Charleston, South Carroll.
ma. 10 begin with an amendemcnt TO
The Constitution, granting powers 10
Congress which have already been
granted 10 them. and which they have
twice exercised 10 the benefit Of the
nation, is an insult at once To our un-
dersianding and upon our mis:oriunes.
AS little do ] relish his other propo.
sal Of a general Convention Of broken
bank Presidents and Directors, TO N.
Hghi'n Congress with their advice -
a convention OF bankTupts to teach
Congress reverence tor the Obligation
Of contracts. and how to make nothing
but gold and silver a tender for the
payment OF debts or all the remedies
for existing evils the last would resort
to would be spurious coin from the
mint Of notification.
The other remedy which ] believe
practicable is that Of SOlon-a sponge
upon the account of debtor and credi-
tor--wipe out all old scores end begin
again. This is the hard money sys-
tenn. add so far SS ] can Judge. IT is the
essential system OF the present admin
iSiralion-it is TO deiach the govern.
ment from all banking. and deal 90
nothing but the precious metals. II
Mr.. Van Buren, ia made Of stuff 10 go
through with this operation, l wish him
well out Of II; bot he will want other
co.operaiors than the Legislatures Of
New York and Virginia, aud other ad =
visers than presidents or directors Of
broken banks; or land jobbers upon
loans from jeposiie banks.
think Of this ss thought Of the
dry dock gun. boat restrictive anii-navy
system Of Mr.. Jefferson. II cost the
nation = terrible war TO be delivered Of
that but the nation was ehectUAlly
cured of it' bydrophohia. The war
was drastic purge. bat II eGeeiuslly
worked its cure. fear that our pre-.
sent bankruptcy will need a still more
violent course Of Alternatives, but the
core will come when The people ere
prepared 10 receive il. They are Ger.
iainly not 40 now--ibey will most
probably Tot be so during the remnant
of nv term Of life. ! hope you will
1--we TO witness snd enjoy the eonss-
lsscsnee.
Forgive the freedom wI,h which I
have answered your let'er, add believe
me TO be. with great respect, your
friend and servant