Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-06-05
EGLU7sEi H9XV.---So. =.

IL,
we states Indssoubiy united in t.er arslr - g. n
! tHe states, and having other powers BIT ,D,-
but that It ~ pc !ecty safe 10 add this 7owe ,,,a, a.
II conrss2dy s, TO The vast mass Of oorrcr already
possessed by THIS G0vernmCut-rhis raw, ,rgd ana.
bloody bones accumulation # power In lie FsErrol
Government which We have been de"c.ac.nr and
warning ngaiHs-Lecrusc il is saiG the powcr must
H2'Gr some" here. and 1t is too dangerous ponpr
To- 'IGst IL State corpuaIrHs which have neither no
ti'r. courage. nor ability. 70 abIse it And, Sir has
y come 10 this is this Tie h0Gscd separation OF the
government from III" money power 4 most notable
separation: A separation b" direct and entire union
A separation by granting the unlimited power make
ana issue money; power too dangerous give State
c,rrora,oDs lest peradrenture they may combine with
the Government; Int perfectly safe gro nj the whole
power without restriction 10 this Government And
tins is State righls'
1t VIII operate unequaiIy Thcse notes BIZ laws Of
trade and commerce, invara5e and unchangeab!e will
acCnmulie IN large clrs where they 3re Hesdpd un-
der The universal aw o demand and supply and vii! a.
ford Ieiief To the inerio.-,o the 4rine;s and the
country merchants. Such the experience Of MIR.
Baas IN i-lU. he says "lhat the suTy mites afford
I'd gcncrnl relief that ihsy would continue
To- accUmrlaje in the large COMMERCIAL cities where they
were needed and rarely found theirway into the nte-
rio ana thai the currency of ;ha 'cal BANKS was all
TINT The farmer could obtain MIR. H:aw:od says the
same thing and adds, tina, T. they gave relief only 10
that section cast OF this CITY, where Government dis.
ha's"insris were chiefly made Where is now the
irrgcG amount o these Mates: Where it always viii
hein New Yotk-whe.e they are most wanted -
EcI0w par in Nrw York; five per cent above par in
Charleston; and get am asked believe that to have
peculiar currency for the Government whrn that
TPncy accumuetrs IN such abundance in Vow York as
To b2 below par. and is in Charleston as 10
command FIVE per cent. premium, is facilitate the
payment 81 duties in Chareson. Am fore yer 10 be
asked TO assent 10 these nOgell!eg unsupported By argu
men,, aud opposed by ali experience and facts? Ii il
SAID, the mp0re,iors q. Charleston have increased oil
late, and heEce THIS policy is favorable 10 The South So
IN much greater degree have those Of Philadelphia
Is Philadelphia Southern city Why have they in
creased: For The sim pie reason that in The present de.
ranG"mrn. Of ID" currency, funds cannot be placed in
New York; ana from the greater suffering Of New York
than any other poln, by the late universal crash one Of
ilsc oTnadoes, in which the taest are the first TO
ALL when lime must be altoArG Tor those tn slrarghen
whrh have been bent, and for new growth The
Chairman OF the Committee Of WAYS and Means tells
Us, that 1t not anticipated that these notes would
have returned to ths Treasury. I suppose
II was not. But IL might have been 0resren, and
would have been, by Gnancler Of ordinary ssgaci.
~, a. by the present Secretary ii he had
consulted The history Of former issnps Of the same
N."d Of paper. The report Of Mir Dallas would have
informed hun, that, when tired in 1876 'Ihp revenue
had been collected almost exclusively in Treasury notes
issued by The Government Mr.. Crawfnrd SAYS the
SANG thing. and N the opinions Ut those al. :aen such
must always be- ia" That if revenue was col
cted. II must he 10 these npIcs aad that OF consequence
prb'c dues Rapidly thcy paid ;G The pub
he creditors. Ike ieneopc's web, andong IN the nigh,
he work Of The day But suppose that the brilliant
genius O. Mir Woodbury. ScoTDs all aid from Sac lights
If experience The SWGgcs'!ons oF such Flooding rl.
loss rs Dallas Crawford and Gallsr; and that # he
LOOKS ut all into the history Of these times il is a. he
would into III" history Of III" Persisn monarchy rs mat.
ter ri curious reading, not Tor information and practical
instruction
Bat Sif is it really necessary that the Government
is not
Other and in every way better modes of raising mo
lry BY which the necessary supplies NAV L. raised and
NOS, beneeen. Effects produced upon the PROSTATE en-.
5gs and nTss,s ct the e21 u c akf 21P u As
now rtn cnereics no paryzed by ua%iSe 'rgisalIon
viii raise II up again like g.aGt aroused from MS
uuibers You can sell your so;s hnS ra'sso al pre-,
niur whilst you mus, dispose OF the Treasury notes at
, discount Both pllns create n de'-nelher crea,es
, permanent and funded debt for "hcns"er you ure
II enuls Won redeem such stock. You will save
!, Ipas, half million. and what is Of infinitely greater
.nr sequence you will say" the Constitution. IL need
,o, b. said that the stock thus created will not be more
valuable than Treasury notes Mr. Crawford tells US That
sxac.ly such stock. bearing SIX per cert interest ana
,cdapmabr Al the will OF The Government! sold IN fc22,
I~.2 and l-2i at premium Of t~p per cent. "hyt
= =, shall no, stop TO show 81 il always has BEEN
and go cn informed The hches; authority, Il will he
nUw | will not propose such loan, because Will mol
relieve the Government from the just ofium OF bfng
i,r ,h9 coun,,y into such n condition Let The Adm.
{
them there il no money the Treasury. that they ara
forced to borrow my life upon it. tia, il ls no ianit OF
theirs they will poi be held answeTahIe If /, IL their
fault they ought not To be allowed 70 escape inc re-
Ask for loan, ] say, openly, ard do
no, wrap it Up in the Gcusre P!etext ii issuing
Treasury notes VIVA, individual, if he wished 10
borrow ten millions, and by issuing bis mites IN
I,rqe gums to few individuals. could raise upon
,hsn Two hundred thousand dollars Tnre than their
facc would chouse 10 issue them in small sums. ca
sy negotiable, 10 a multitude OF creditors. ard al
loss Of three hundred thousand dollars in ALL half mil
lion That precisely is the difference between The two
plans and we about u do tor tile country what no
sane man would do Cor himself.
would receive payment for the stock IN the bills oil
specc.pay banks in specie Let portion 81 me
stock be sold in Europe and conduit TO bring
into this country (no by forcing and artificial process
2 norton of that specie, which the natural condition oil
our country and of Europe ana the wise policy OF 'hat
pnIiuened nation upon whose commerce we have been
varnp barbaric war, is disposed 10 send here
These Treasury notes give no permanent IeHe', uh-
less re:suabie
ssuob,p YOU convert your Treasury Department into
Govarumen, bank Of issue and Geposlte, and in The
,,,nsfcr of lis funds necessarily Of discount too.
Thee nd vanages great as regard them sink IN corn
,-snn Nth the Benign and addressing influence Of
,nnuncia,on by the Government in manner formal and
authoritative that the bills of specie paying banks Willie
received by it, The disease has always been more one
or credit than Of currency. The banks never have been
in "a sound d condition as al present. never NV 'y
had so large Il basis Of specie as nov. Confidence,
md confidence alone is wanting TO give MS sound
bank currency end 10 carry once more prosperity ard
hanpiness in broad through the land Without
il The banks never permanently resume Confidence
Is their vital air. without it, they cen M more lve Than
cen fy in an exhausted receiver II may be easily de-
mons,rated tina, in period Of doubt and tisusa bank
with million OF specie and never more Than MY 'hou
sand dollars Of notes circulation may be forced to s"s
pend There be more striking illustration q" ,n's
| ,lo pslpni n
I, h,d NJ The period Of lis suspension, only ten mil.
lions Of notes in circulation, and thirty millions Of spe'
ne Bn, the Directors distinctly foresaw, that with
The demands occasioned by foreign wars and SUBSIDIES;
,h ,r. poration of foreign corn. and the panic ard
Wv Of an invasion from France, that their
Gc would be exhausted and they determined TO sus
and by doing So sustained the industry and bust
ps"s Of the country, and carried England triumphant