Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-03-03

had come down from cur ancestors, and had been
the cherished policy Of the country, in past
times.
am aeains, it, ai,ogc tier, 1 loo. no, to see
whether the means be adapted to the end. That
end 'tseIfi. what oppose, and oppose all the
means leading ton ! oppose all attempts to
make a separate currency for the Government,
because insist upon it, and shall insist upon it,
until l see and feel the pillars Of the Cons,itu-
ton falling around me, and upon my head. that
It is the duty of this Government TO provide n
good currency Cor the country, and for the Poo
pie, as well as for itself.
put it to the gentlemen to say, whether cur
rcncy be not part of commerce, or an indis-
Pensabie agent of commerce; and something,
therefore, which this Government is bound to reg
ulate, 81 to take care Of? Gentlemen will meet
the argument. They shur the question. We
demand that the Just power of the constitution
shall be administered We assert, that Congress
has power to regulate commerce. and currency
as part of commerce; insist that the pub
lie exigency, at the present moment, calls loudly
for the exercise of this power,-and what do
they do?-thev labo: to convince US, that the
Government itselfcan get on very well without
providing currency for the people, and they be-
take themselves, therefore, to the Sab-Trcasury
System, its unassailable walls. its IRON chests,
and doubly secured doors. And having satisfied
themselves. that, in this way. Government may
be kept going, they arc satisfied. a sound cur
/
enue these are the only things promised, the
only things proposcd-Dut these not the
old promise The country, the country itself.
and the whole people, were promised a better
currency, for their own use. better general cur
rency, a better currency for all the purposes Of
trade and business. This was the promise, solemn
" given by the Gov crnmcnt in 1888 and SO often
afterwards renewed, through all successive years,
down to May last. We heard nothing all that
time, Of a separation between Government and
People. No, Sir, not word Both were to
have an improved currency. Sir, / did not be-
lievc word of all this, thought it all mere pre-
tence, or empty boasting. had no faith in these
promises, not a particle. But the Hon. member
from New York was confident Of the success of the
first scheme, which was plausible, as he is con-
fden of this which is strange, alien and rcPulslvc
in its whole aspect. He was then as sure OF be-
ing able to furnish currency for tho country. as
he is now of furnishing currency for govern
ment. He told at that time. that he believed
the system, adopted by the late Administration,
was fully competent to its object. He felt no a.
larn for the result, he believed all the President
had done, from the al of the deposites down.
wards. constitutional and legal, and he was
determined to place himself by the side of tho
President and desired only to stand fali, in the
estimation of his constituents. they should de-
termine in the result. And that result has now
come.
As have said, sir, had no faith a: all in all
the promises Of the Administration. made before
and at that time, and constantly repeated. felt
no confidence, whatever in the whole project;
deemed it rash, hcadstrong, and prcsunnptuous to
the last degree. And at the risk Of the charge o;
some offence against good taste, will read a par
agraph from some remarks of mine, in February
1884, which sufficiently show, what my opinion
and my apprehensIons then were:
81 have already endeavored to warn the conn
try against irredecmable paper; against bank pa
per, when banks do not pay specie for their own
notes; against that miserable, aboninable and
fraudulent policy, which attempts to give value
to any paper of any bank, one single moment
:. longer than such paper is redeemeble on demand
in gold and silver. And | wish, most solemnly
and earnestly to repeat that warning. sec dan
ger of that state Of things ahead. SEE EMINENT
DANGER THAT MORE OR FEWER OF THE STAT
BANKS WILL STOP SPECIE PAYMENT. The lat
measure of the Secretary, and the ntatuatlon witt
which it seems to be supported, tend directly an
strongly to that result. Under prctence, then o
a design to return to a currency which shall b
all epccie VIC are likely to have a currency II
T, which there shall be no specie at all. We ar
in danger of being orerrhclnaed nth irredecmo
Die Paper-merc paper, representing not gold no
: silrer: no, sir, representing nothing bat Broke
PROMISES Rad FAITH. BANKRUPT CORPORA
5 TONS. CHEATED CREDITORS, AND RI
Z lNED PEOPLE!''
. And now, Sir. the upshot OF the wf1ol
8 Experiment. We see around us bankrupt CO
= porations, and broken promises; but we see q
: promises. more really and emphaticay broker
). than all those promises of the Administrator
/, which gave us assurance Of better currenc
,e These promises, broken, VIGOROUSLY and ope
- Is broken, if they cannot be performed, ought
- least to be acknowledged. The Govcrnme
, ought not. in common fairness and common no
70 estv. to deny its own responsibility, seek to c
- cape from the demand Of the People, and to hi'
. ITSELF out Of the way, and beyond the reach Of Il
:, process Of public opinion, by rctreating into III
a Sub-rreasury System. Let it. az least. con
:, forth; let it bear port Of honesty and candor
a. it confess its promises, if it cannot perform ther
=, and, above all, now, even now, at this late HOT
= let it rcnounce schemes and projects, the inve
= ton. of presumption, and the resorts OF despe'
: tion and let it address itself, in all good faith.
;. the great work Of restoring the currency by a
:. prov ed and constitutional means.
-. But. Sir. so far is any such course from all p
10 liability Of being adopted, so little ground Of no
:. is there that this Sub Treasury system will
!. abandoned. and the Hon. member from New fe
= has conteuded, and argued. in his place. that I
"A public opinion IL more favorable to this mcast
now proposed. than to any other which has be
,d suggested. He claims for it the character o