Southern Argus. [volume] (Columbus, Miss.) 1834-1842, 1838-05-22
COLUMBUS, pII) TUESDAY, MA q, 1888. :

had begun to adopt it. But the measures
Of the Administration, and especially this
proposed measure, throw this policy an
aback. They undo at once all that we
have been laboring to do. So pertina.
cious has been the demand of Government
for specie, and such new demand does
this bill promise to create, that the States
have found themselves compelled again to
issue small bills for the use Of the people.
1t was a day-af rejoicing, as we have late.
,ly seen, among th People of New York,
when the Legisld lure of that State sus.
pended the smallbill restraining.law and
furnished the people with some medium
for small payments, better than the mise.
rable trash which now amsoys the commu.
nifty.
The Government, therefore, | insist, is
evidently breaking down its own declared
policy; it is defeating, openly and mani
testify defeating its own protested OBJ
jects.
And yet, theory, imagination, presump-
tuous generalization, the application of
military movements to questions of COM
merce and finance, and the distractions of
metaphysics, offer us, in such a state of
things, their panacea. And what is it !?
What is it? What is to cure or mitigate
these evils; or what is to ward off future
calamitiesl Why, sir, the most agreea.
BILE remedy imaginable, the kindest, ten
derest, most soothing, and solacing appli-
cation in the whole world! Nothing sir,
nothing upon earth, but smart, delight
ful, perpetual, and irreconcileable warfare,
between the government of the United
States and the state banks All will be
well, we are assured, when the government
and the banks become antagonistical Yes
sir, antagonisticaI % that is the word.
What a stroke of policy, sir, is this It
IS as delicate q stratagem as poor old King
Lear's, and good deal like it. It pro.
poses that we should tread lightly along,
in felt or on velvet, til! we get the banks
within our power, and them =" kill, kill,
.kill'p'
Sir, we may talk as much as we please
about the resumption of specie payments,
but tell you that, with government thus
warning upon the banks, if resumption
should take place, another suspension
fear would follow. 1t is not war, success.
full or unsuccessful, between government
and the banks; it is only peace, trust, con-
fidence, that can restore the prosperity of
the country. This system of perpetual
annoyance to the banks, this boarding up
Of money which the country demands for
IT'S necessary uses, this bringing Of the
whole revenue to act, not in aid and fur
theranee, but in direct hindrance and en-
barrassment of commerce and business,
is utterly irreconcieable with the public
interest. We shall see no return Of for
mer times till it be ACKNOWLEDGEMENTS
abandoned. The passage of this bill will
create new alarm and new distress.
People begin already to fear their own
government. They have an actual dread
of those who should be their protectors
and guardians. There are hundreds OF
thousands of honest and industrious men,
sir, at this very moment, who would feel
relieved in their circumstances, who would
see better prospects of an honest
livelihood, and feel more sure ofthe means Of
food and clothing for their wives and chill.
dren, if they should hear that this measure
had received its death. Let us, then sir,
away with it. Do we not see the world
prosperous around us! Do we not see
other governments and other nations en-.
hghtened by experience, and rejecting ar.
rogant innovations and theorehe dreams
accomplishing the great ends of society
Why, sir, why are we, why are we a
lone among the great commercial states
Why are we to be kept on tho rack and
torture of these experiments? We have
powers, adequate complete powers. We
need only to exercise them; we need on
ly perform our constitutional duty, and we
shall spread content, cherfulness, and JOY
over the whole land.
This brings me, sir, to the second in.
quirv.
Is this measure, Mr.. President, JUS
exercise of the powers Of Congress, anc
does it fulfil our duties
Sir, Ihave so often discussed this point
/ have so constantly insisted, for seVera
years past, on the constitutional obligation
of Congress to take care Of the currency
that the Senate must be already tired of tn,
speaker, if not weary of the topic; AM
yet, after all, this is the great and para
mount question. Until this is settled TIL
agitation can never be QUOTED. If W
have not the power, we must leave tn
whole subject in the hands of those wh'
have it, or in no hands; but if we hav,
the power, we are bound to exercise it, an,
every days neglect is violation of duty
! ] therefore again insist, that we have th
power, and | again press its exercise o.
the two Houses of Congress. again as
sert, that the regulation Of the general cur
rency-of the money of the country
whatever actually constitutes that none
lis one of our solemn duties
i The constitution confers on US, sir, tn
exclusive power Of coinage. This mus
have been done for the purpose Of ena
J bling Congress to establish one uniforE
basis Of the whole money systems Con
gress, therefore, and Congress alone, ha
power over the foundation, the grounc
work, Of the currency; and it would b
strange and anomalous, having this, if
had nothing 10 DO with the structure, u
ledifce, to be raised on this foundation
Z Convertible paper was already II circul'
ton when the constitution was frames
and must have been expected to contlnu
and Is increase. But tie circulation Of p
Der tends 70 displace coin; + may banis
II altogether 81 this very nomentit b
) banished t. If therefore, the power ovl