Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-06-21
L \l'R AGl,


NoHh fafoiiHd, against me Treasury Note BW.
There is another branch Of this subject, and TO me
by iaI The most important, which now approach
II IS SAID that tins hard money policy will benefit
the South aud relieve IT from its commercial lhra.
dom to the North This is said on high authority.
aud is vouched by names in which the South rcpo-
ses awell- earned confidence do not doubt their
sincerity; ! just rs lutte doubt the error of these
OPINIONS; have heard no argument, from any
quarter, IN support OF them. When | ask for argu-
meni, am answered by defamation, some Of
those broad aud general distractions, which, in
politics, have generally found 10 be either ifuisms.
or things that mc not true. My own settled convic
ton, canddy, not haslly, arrived nj, and cautiously
and deliberately rc-eXamInrd with ardent desire
TO arrive II the truth, ~ that whilst this policy will
be injurious to all sections Of the country II will be
ruinously, fatally injurious to the South. 1t is due
TO those who sent ne here, II is due 10 myself,
10 give the reasons thai have forced these conclusions
upon me. After What has passed in my very hum
BILE public liic had supposed that IT not
saly for me 10 declare my devotion to the South
But even !, sr all of whose interests and affections
are indlssoubly connected with, and who have per
HE'D all that man values. in defence Of the South
and its interests, even am suspected Its my du
ty 10 defend myself, by giving the reasons for my
opinions.
Although this selfish and sectional policy has not
marked the ancient character of South Carolina ;
although II has been from y high, generous, aud
readiness with which she has, on all proper
slons, sacrificed them 10 the honor of the country
that she IS mainly indebted iot her high character
aud the moral power which she has exerted in the
Conlcderacy, am forced 10 say that, in the present
condition of the politics Of the county, | regard IL
to be my lmpcrous duly to look first, il not mainly
To the interests oImy own peculiar section. Satisfy
me- sir, that any policy will advance the interests of
The South and Of Charleston, and shall not hesl-
tate to do all that may honorably do to that end; all
that can do consistently with the obligations Of
duty and Of honor to The other members of the Con-
iedcfacy More than that trust | would not do to
advance any interest, sectional or selfish. Further
than tins do not think it either right prudent TO
60 We, sIr arc, aud are destined to be, the weak
ef interest and to say nothing Of the obligations Of
an honorable patriotism, 1t is not the most wise IN
US To avow policy selfish and sectional II we do,
II will be with an III grace that we shall complain Of
1t IN others who weld the power Of majority. VIII
this policy benefit the Southl | would not vote
for an eXpun2lng resolution because should be
told IT wouli benefit the South, aud might be told
80 with as much truth as that tins gold and silver pol
icy wil nay sir, with more truth; for that would be
harmless, and this would be injurious. Amongst
the aphotlsuls on tins subject land no one has de-
soended lower than an aphorsm,) is that the bank
ing system has given the North its commercial AS
cendancy over the South. If any thing is meant
by the North, it must be New York for il is New
loik that imports exclusively for the South all that
Is not imported IN Southern cities. With us as
much ruth may fly on a coach-whccl be held re-
sponsble for the dust that is made the fly is on the
wheel, and the dust is made, but the poor fly has
very litlle hand in 1t. The banking system is in
istence, and New York has this sscendancy; but II
is no more attributable to the banning system than
IS the dust 10 the fly. This will show. And |
do not vannt when say that will put it beyond the
reach OF retutatiou or argument. One, hearing IA
proposition OF tins sort stated. would naturally sup
pose that the banking capital of New York was
much greater in proportion than that OF Charleston
or other Southern cities. But what will gentlemen
say when they told that it does not amount to
one-tenth, might say ne-twcntieth, OF that OF
any OF the cities of the South? | suppose they
will say did the ardent Frcnchman, when he was
told that the facts did not support ms theory so
much the worse, said hr, orthe lacts-tant pis pour
les Jat the facts may or may not be true, The the
DRY must be.
The following IS The statement OF the Secretary
OF the Treasury of the amount oi back capital and
circulation on the Isl of Jauury 1887, in round
numbers