Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-07-04

- PrHmpt AND easy, as is provided witt
rcSpeefsto these Treasury nolcs, il is uncon
s'"utiennl, ] supposc-if it is postponed
;hh tshIcred difficult, then it is constitu
o"haIs-- ,, Nor can The interest TO he pad, n
ai' M aIect the consii,ulionalitv of the ISSUE
II y"ushave The power to borrow morey,
!. Is S9nr duty to the people, who mns, ul
,'",atstS pay tho dcl1 hy the sweat of tr
"'oWs.So borrow IL upon the cheapest terms
PoSstnle. lffrom The abundance of capit;,l
ana tnesupcrior credit Of the Government
ana tne uses TO which tins credit NAV b,
| aPPiiets you can borrow money AT Two ol
| inree per cent, interest, or at no in,cres, a
| ali-ltSis your duty to do il. The ONLY
question is, do you wan, money. aud d,
you design TO borrow il! The Construto.
leaves the method absolutely al your own
| discretion and conlrnl
MyScol!caguc has quoted tho cns. c
Craig Us. the State Of Missouri, by whicI, il
mas been determined by the Supreme Court
OF the-.UuIted States. that a State cnnuor
ch'i bill OF credit. Now, sir. suppose
that there was in The Constitution. am cx-
"ss Irciiihnion (Which there is uot) to the
Chitet States emitting bills Of crc.lir, as
mere fs to The Sialcs;-this case would not
"t an saiiect The measure before YOU! In
mat case. Chief Justice Marshall i'm de-
iiFefihS the "pinl0u ot the cnuri; (rvrry
hepuotran judy" upon the hrncl dissent
'nS' PM the decision upon TN" fact that the
ccr''lcn,es OF the State of Missouri, were
designed to be the currency OF The country
ana substitute Tor ne constitutional cur
rcncy OF gold and silver. Is that the case
nero! he treasury notes authnriZcd..y the
Oil onsyonr table are limited To the amount
ut .iuUuO.OO0. Nnur eau hc issued after
me flist day ot December next when rhey
are alt redccmable; and when received M
u ihe Treasury cannot he rc-isSucd Do
these features show any design Of furnish
ING Il currency To the country, as n substi-
tuic Tor the constitutional currency, and
make these notes "bills of credit" in the
meaning Of The Constitution! The word
emit. says the the Judge" is never en-
pi"yedin describing those contracts Ly ,vh;ch
a State 0'nds itscyt puy money at a future
day ,fofasercices actually rereiucd or for mo-
neg GoiJoioe1; nor areS,,ch Instruments ',;'l,
oi crenp-' Now wha. ar" these Treasury
noies II. contracts for The paymen, 0rn.9-
si,s.y qRs future dry for sersiceS acruaEy re-
scsfseef 'vvfu- pay yoaf>aim g--p6nt hrvy--
your civil and diplomatic oiiiccrs--,nn.
yourselves! What arc they, hu, cvil .:,,c~
"s deh', Tor money borrowed 10 carr ,,,
thc Eiaciinc., Of iovernnrni! Nhy. .ir.
IL Is most apparent, that even upon Ibe
authority OF this case, every Sl,l,. IN the
o"iou. despite The express prohibition TO
emit bills OF credit" would he authorized rn
issue these notes. Our :!iindS are sometimes
H"c our cye-SiSht. capahl,. of scrin. things
only at very remote distances. Gcn!lcn, n
vino deny Tho coi,s.i,uiionality of these,
treasury notes, Vet. maintain, that Con-
Srcss may establish Il Cnii"d States
Bank, aud either as part ar tie cnt re- pro
p:Ic'"r oi tn" stock, through It's instrument
'alh.t. issue such notes. 10 any amount, cA-
prrssiH d"siSncd To be currency. We have
u" riSil t' Issue these notes. to any amount,
expressly dcsiGn"d tn be currency. .,c
nave no rl,ili To issue these notes say these
gentlemen, occau>" they Mny enter into the
currency, yet uudcr :li" power 10 re.ua;c
co!il!irrce. ihcy maintain thar we have the
r"w-r 10 supply currency torlhr wiiol
Uni"n--ani control ANA crush. if we please.
ail Blinking institutions of the States
mus II Is, 'ha' things winch are most Uhvi
ons; are unli>ccrnvd. and. The rr,n,:lrsr in
ieTcic's. and most metaphysical dchucti,,Is
are ap;,rrhendc,i Viii! the cirarcN ,li,rlncI
n"S, aud conviction. Durin. the whole
period OF the last war, Treasury notes were
irc'iy issued, III a!iifr>pcc,>, >inllar To hose
authorized by tilc bili. Mr.. ID tla~ recon
'm'nlei ihrm-Alr. Mahi,on appr,v ii oi
them. and ChcNcs. Randolph. Clay, Town
dcS, and Webster filled some Of the seat,
we now occupy. To these n.cn the cuu-
sItnliunal ohJcCilon did not even occur
The following table shows the ISSUES:
lSi2-Juuc 30, In Treasury
notes bca.ing Interest > and
18Th per cent. rrdccinabc in
one year. :S5,OODO OJO
lSl3-feh. 20. Same interest,
rcG"e'nabc ia one year, lO,n30. 900
l6il-Alarch 4. DO. do. lU,UJUUOu
iSll-Dcc. 26. 70 be issued
in lieu of thai amount of loans
heretofore authorized, $500. O1O
i0il-l)rr. 70. To be issued, :}.OOO.UDO
lSI5-Fcb. -. Do do. 2j.UOu. .tHM)
Tie ncXi Objection urged against The niIl
by my hon"rnnlc colleague is, that bv The
issue OF the Treasury notes If authorized. IL
Government Bank will be established.
cannon but suppose Mr.. Chairman, that nv
colleague. in making this objection must
have miSnpprcheEhcd The PROV iSions Of :hc
bill. lie must have supposed, 10 justify
any tang like an argument in support Of
such il pnsiiion, that both as 10 time and
The amount nj tn" !Ssnc, The bill is entirely
unlimited lie cannot TO aware. thar no
notes can be ISSUED 10y its authority, after
tlss first day Of December ncx,. whcn all are
rcdcc:nAhie; and that the amount can IN no
time exceed ten millions of dollars. 4
bank without any capitn!, wilii n charter
for six months! Surely the areur.cn, is
answered by tho statement Of The facts.
II Is said, however. thai anr,hcr form of
borrowing is better. Go in al once for n
regular loan on lime, by issuing stock Eoc