Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-02-08
EaichsM0a2d, Thursday, Feb. 8.


Air Ellis Of Accomack again presented his Resolu'
ous on the Currency and on Banktng-( (Which we have
already published )-lie had modified them in such a
as 10 deprive them OF the character Of being joint
Resolutions Some debate tonk place OH the motion 10
print lheu but il finally prevailed
Mr. smith of CuIpeper then presented the following
series of Resolutions, by way OF Substitute:
q UI,,ras. experience has shown that the connection
hsre,nCnrc existing between the Federal Government
and the Banks is highly injurious not only 10 the gene
raj interests Of society but 10 the Bamks themselves by
stimulating 10 ovcr.aclon every department OF enter
prise and industry c.--,,
.boud have a complete and exclusive control over It's
funds that they may not afford the means or tne IN
duceuien 10 either the Government or the BANKS 10 H.
,erfpre in the political conflicts Of Tie day; therefore,
al ResOired That there should be an entire d6con'
ncclion between the depnses Of the General Govern
ment and The discounts of the Banks and that the con-
neclion existing between the Government ana lne
Banks previous TO the suspension oil specie payments III
Nav last ought not TO be renewed.
"2 Res0ired, That while recognise gold and silver
as the only proper standard Of value, yet we are wiling
that the public shall be receivable IN notes OF
spece banks be converted into specie at short
intervals after such time and under such regulations as
Congress may deem cxpedent.
"} ResoIecd, That cordially approve the manly and
philosuphc vet liberal and concatory tone OF the Ere
sdcnls Messages Congress, and that our confidence
in his wisdom prudence, patriotism, anu hflhess, re-
mains unmpalrcd
These resolutions we're laid on the table, and ordered
to be printed.
On the motion to print them, short Debate arose. in
the Of which, MIR. Anderson OF Botetourt e1'
dressed his decided dsapproba0n OF the Sub treasury
SYSTEM and his readiness 10 meet gentlemen at any
time in the discussion Of the sub ec MI Smith also
declared, that he was ready.
TO TIE EEiTOR OF TIE ENQUIRER.
SENATE CHAMBER, Feb. u, lc3o.
Dear Sr-Thc resolutions had the honor TO submit
to The consideration of The Senate Monday last, were
the resolutions Of Col Watkins, modified, however, IN
oil G,rni mon
ground upon which all might rally and unite The mo.
di.ica!uns WERE another occasion, substantially sug'
gcsted and reported by Mr. lloeman OF Isle OF "ight.
They offered substitute tor those OF MI Ellis,
and at tint time would not have been Offered but III that
character: Nor were they offered either resolutions
of the Senate Of tie General Assembly; but IN mat
particular, left blank that the senate at aho
Their time fill it according to its own enlightened pleasure
This Xpanation is perhapsd due 10 CONSIDERATIONS WHICH
il cannot be necessary 10 express.
cannot permit this opportunity TO pass without no"
avuwing that the resolutions submitted do not. 10
very great extent, embody my own opinion. ms
ayowed al The time presented them repeat II here,
that may not be misunderstood The resolutions are
strong evidence Of my desire for concliaon for they
surrendered some of my most cherished convictions
Under the old articles OF CunledcrhlIon The Federal
Government collected its revenues By acquisitions upon
the States. It had no power to tax. Experience proved
this be mighly aHd inSHppo'tH6ic erh 10 correct
it, our present Constitution gives TO The Federal Govern
nent power to lax-an independent, sovereign, para.
mount power; but the policy which c0mpe'S connec'
ton with Banks subvels this great essential OF the Con
sti,ution dependence upon the s0rercign States was
found to be totally inefficient; but dependence upon
the Institutions IF tic States s in The estimation OF many
the only sound and healthy policy. The Federal Go.
yernment could not meet lis engagements with prompt
ness and dignity when il depended lur supplies oil
money upon great Sales under the Influence OF moral
and patriotic feelings; but no~ it is grarey insisted II
can yet on with admirable success, when dependent upon
money corporations which, according 10 Coke ana DINER
ancient writers, SoulesS-" have neither hcau 10
he hanged nor soul TO be damned Sir, this will not
do That great element Of power, the right To tax is
The constitutional remedy for the evil TO which have
adycrIed and was designed be exertcd for the benefit
of the people; SO that the obligations Of the Govern
lie ut nil hi promptly and faithfully dschnrged-and
not TO ill the Golfers aud swell the gains OF the Banks
WELD my own convc.inns in agreeing to the IeceiV-
ability of Bank notes. but only on condition OF le!r con.
yertihly al short intervals
WIZ Mr. Editor, should the Government be compelled
10 depose with Banks when absolute volion is allowed
TO individuals Why should the Government be requr.
ed 10 take Bank notes when individuals protected by
the Constitution against such compuSon' Is the action
of our Government, the head Of the mighest Republic
upon this great orb pride and glory the aso
n!shment and admiration OF The world 10 he sub rct 10
the controlling power of mere money changers by act
Of lar; from which, by act cj ia@, exempt every CT
tizen' do trest and hope not
|, however must forLcar: | do not intend
argument Were reasons plenty blackberreS, they
would be unavailng here; for, ain aware your mind
is fully made up My only object is, by what have
said attained So permit 10 ask the publication Of
this note, and 10 subscribe myself with hi personal
gard, your oLedicnt servant,