The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-09-19

every other political question, am not conscious of
any single mistake 81 an important fact. / might
have gone farther, and stated what | supposed al
most every man 10 the United States knew, that Col.
Benton was the author, the first TO suggest This gold
and silver policy, II he was not, why has he been
called bumbug Benton" " hard money Benton r.
Why are the gold coins called Benton drops Z"
II General Gordon is the true father Of the poll
cy, they should have been called Gordon drops
But 10 the proof In speech made in the Senate
on the 2lst March, 1884 the following passages oc-
cur, with fhy others like them: Col Benton said,
" Ia The first place he was one of those who believed
that the Government, Of the u. States was intended
TO be a hard money government-thal il was the in
tention and the declaration Of the Constitution Of the
u States, that the Federal currency should con-
sist Of gold and silver and that there Is no power in
Congress to issue, or TO authorize any company of
individuals to issue, any species Of Federal paper
currency whatever" =" The authority given 10 Con-
gresS to coin money, and is an authority to stamp
metallic money, and not an authority for issuing
slips OF paper, containing promises To pay money!
Pretty strong, think, against Treasury notes
Again, he says, Gold and silver is the only thing
recognized as money. II is the money. and the only
money OF the Constitution. Every historic recolec-
ton, as well as every phrase in the Constitution and
every early statute on the subject confirms the idean
They tthe trainers Of the Constitution determined to
have no more federal paper money. They created
hard money government-they intended the new 90
yernment to recognize nothing for money but gold and
silver" These passages taken from very long
and able speech the main object of which is to prove
the unconsttutonality and expedency of receiving in
the dues oil the government any thing but gold and
silver.
This was on the 2lst March, 1884 Cen Gordon's
Bill was introduced the 10Th February, 1885 Mr.
Condy Racquet brought his proposition Washington
as the following extract Of letter from him TO Mr.
Preston, shows, IN May, 1884
Dear Sir-Your favor Of the 7th Of June is at
hand In reference to the matter alluded TO, therein
IA pnVF llart a
to you OF Mr.. Calhoun, but communicate with YOU
verbally in May, 1884. Having failed to receive the
favorable views Of either Of you, brought the plan to
the view of Mr.. Lewis and several other members OF
the House Of Representatives from the South, with no
better success until found General Gordon, who gave
IT a favorable reception, II will not now, trust, be
denied that Col Benton was the first to advocate in
speech IN Congress, or to propose as specific and
paraie measure, the specific feature Of the Sub Treasury
Bill. That feature, without which, Mr.. Calhoun saws
that measure is mockery If not the author Of the
project Of Divorce, he is the author Of that which
garded its great and important feature. 1t is
the worse for It's orgn-it Is good thing If 1t is half
as wise and benefcen measure as it is now thought
to be, Benton deserves statue Of god for having had
the genius TO suggest and the moral courage TO adhere
to it, in despite Of opprobrum aud rdicule than
any other one measure ever has received"
Mr. Calhoun, at the Barbecue, argued against the
Pet Bank system, as my favorite was surprised at
this, the amendment Of the Bill which proposed in
congress- expressly IorOus the use OF the money ny the
banks, and in every speech which have made in Con-
gress since came home, have reprohated that sys-
TEN the very possible; and In the very speech
to which Mr.. Calhoun replying, had repeated the
same thing. refused, as Mr. Rves knows at the last
session, to go for his general depose bill any other
which should give the Of the robllc funds TO the
banks. MIR Calhoun also said, that Of issu
ing Treasury notes that the government had money
on deposite with the banks, which ii could not get /
showed that a, the period of issuing the last ten mil
lions, the government had only two millions in the
banks, and had drawn warrants for large portion of
that How then be said that the Treasury
issued because had money in the banks which
they would pay. have felt it duty to myself and
the people, to make these remarks as am Informed
that it has been indusrousy propagated, that had
trscted statements Of facts which had made
W. THOMPSON, Jr.