Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1838-10-11


currency, Of equal value with geld NM
SILVER. throughout the United States
OF regulating tAe exch.nges-and Of col
tee.:ns, keeping. and disbursine the
Puoiic revenue. without expense 70 the
government. ana moreover satisfied
ehat Bank may be created, under snct,
regulations and restrictions. as will FREE.
:tirom al well founded obj .ct,ons. which
nave been heretofore made. Ia the fret
and late Banks OF the u. States. I feel
confident too. that Bank Of the United
States. Haay be 40 constructed. that il
viii not only be Deprived Of the mower
90 ex'ead and contract its issues at plea-
sure "a such manner as to iniure the
community; but that it will operate as 9
wholesome check upon the state Banks.
whenever they may be disposed to ex-
tend their issues beyond the limits of
discretion. shall take an early osnor.
funity to explain to you the natur. of
the Bank which conceive ought TO b.
created, aud the benefits which will re-
SUIT from its establishment. need
scarcely to add. that am opposed TO re-
cnartering the late Bank ofthe u. States.
40 those who admit the cxpediency. but
deny the power of Congress to charter a
sank am prepared To say, that am per.
iectly willing 10 end all doubl on that sub.
Ject, by 50 amending the Constitution, as by
an express grant OF power, to authorize Con-
gress to create Bank. The adoption Of such
an amendment to The Constitution. would
nave most salutary influence in prevent
ing, IN all time to come. the recurrence of
angry political contests, such US arose about
- .kart nj m,
Bank "i the U. States were about To expire
and would have strong tendency to IRE.
Sent The General Government, from excl
casing hereafter, any doubtful power. with
out having hrst obtained an express grant
oi tho power in question, 10y an amendment
oil the Constitution.
hut il seems TO be conceded by all. that
no Bank OF the U. States will, or can be Gre
ated, during tho remainder of the term for
which Mr.. Van Buren, has been elected
fresldent. u becomes necessary therefore,
10 enquire whether any scheme can he de-
vlscd, by which The Government, our ctm-
merce, aud the people, Can he relieved from
the emoarrassmenis brought .pon them, by
Inc pulley ut those " no are now al the he al
at affairs. To MIR. Rises's scheme for de-
posting the revenue in the State Banks az
presented by him, at the last session OF Con.
gress, have very strong objections. In
truth, regard II as in substance, a urouo.
shfn, 10 Try once again, an experiment
which has been twice tried, aud has as of en-
s.sneiy Jailed; and which, must, in my o.
iinion, unless very much altered, fail as Of
ten as il 10 tried. I am by no means satisfied
that any scheme, based upon the idea of n,
sing The Stale Bunks as The repositories of
Tue pubic revenue, can be de, ised y hich
VIII per manently secure 10 US the benefits
81 sound currency. have, however. re-
suected much on the subject, and several a,
amendments which might be made to Mr..
Rives,s scheme. have occurred to my mind
"hich u adopted, would, think, not oni v
render u infinitely preferable To- the sub
treasury scheme, but capable, perhaps i'm
some degree. OF securing the people from the
incaiculaole evils Of deprecated currency.
nat Those amendments are, il is unneces
ry Tor me now 10 state, but have no hesita.
ti"n IN protesting my readiness to unite
heartily, with any man, or any party, chow
ever much we may differ in opinion on 9Th f.
err political questions,) in endeavCriny to
perfect the scheme Of MIR. Rives, or any
other scheme, less objectionable than the
sub Treasury scheme itself, with a view ia
deieat that ruiH9ps measure, which The pres.
ent adininistratfor~seem resoiv ed 10 carry al
every hazard; and which, If adopted. " iii in
my opinion, be attended with more disas>
trous consequences, than any act of the Gen
erai government, since lis foundation
am now Candidate for your sufrases
III however any man Can be induced TO of.
Ter, who is opposed to the sub,Treasurv
scheme, and who will be more acceptable ia
msJerity OF the opponents of that measure.
'han myself, will moi hesitate 10 give way
ana unite In supporting him; from con-
vic,ioD that II is the duty of every man Ia
make any sacrifice which may be required
OF his own ambitious aspirations, in order to
insure The defeat Of measure so haugh,
WIN danger TO our common country. Hav-
Iog Voluntarily placed myself before you, |
am not only willing, but DESTROYS, that my
Qualifications Tor The station to which as.
pro, shall he fully aud freely canvassed a.
mong you; all that shall ask OF those wbe
may determine 10 oppose my election, j.,
inat ihey will pursue towards me and INV
friends, The same candid. fair and honorable
course, which ii is my earnest desire thu,
my friends shall pursue towards the gentIe>
man who has already been announced as a
Very respectfully,