Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-02-15
INSeaiBIaa.. EEns,i..>
\ NATIONAL BANK, OR \ pREAsr...
BANK

Is, whether will incorporate a ne, X.,,,.
of pat into operation las scheme. gener,l,. va
as the Snb.Freasury system, but vIIIc, .,,..,'"
truth be csiici' 0sHis, Il GOV
based upon the credit aud resource, of IL. y M
~ a"l destined IN the progress Of cYan,. r.
troy every State Bank AL onsr1ncnly and ,n..
rly Il lnonoPalIAt HE mbnir concerns of ib..
not only by regulating the exchanges. wl;.l, v
Van Burcn his declared not to BE- within tn
sntn'loAa' power OF the general government, H..
ais2 toturnsl the people with thlt .b.lt.r cu,ro
cy about which we hive hclrl Sd mnc.I ami a..
50 little, within few year, past--llpt, indeed H..
constitutional currency OF gold al silver h.
.PfPtr rags, IL the shape Of T,easn y mites VI,
resting nPoa no actual capital, by which the ,,n,..
to b. ISSUED may be defined ald limited. will NM.
Il nod the l,ul, in COUNTLESS millions. until IL.
old Continental Paper, of which il viii be tn.
act snilnni', it VIII drprecatc to mere ngn,..i
yalac, aud will he forced upon an unwilling neo,l.
like TIE Asslehas OF Franco III her days Of financial
einhAtr'i'me1's by the terrors Of the Ba,,ile ard
the Gui'Ioilae IT, then. ii be true, as Mr.. Wuah,
contends, tilat the real issue is brfueen q Natos.
Bank and tbs mammoth Government Nonopah-
between National B3n& removed BY tllr poyi,.n,
IL It's charter from government Influence. d.n,.,l
ri the power vi m,ngline in the madi /, cuIlra, n
party politics, and its operation, confined 10 tn. r..
gftiantc business Of = mixing, under such Yhl
s1nr anl saatay re .tfiefions AM re.ull.i,o,#,.
The wisdom Of Con5fe,s, cal, sHcned by receate,.
fereuce, my suggest,-and a GayeIninc.1 e,r,
which must, oincces,ty, be Il vast Political Engg4
Strengthening the General Government at the -.
+ ~, ,,t' I S..tpS tlC k.,s l.
with pawets, aud 10 the same ex,ea, anuihh.n,
the constitutional functions of Consre., o.er III,
public purse, here. as IN England, lhc sur~>i b.
.anl ter tie public liberties 1t, W. say Ia ..
the truc I,,.te trn, il sernis to Us that no uu.sl.
de- mua, I.aaever violent may have hrcp his 49,.
s,tol National HauA heretofore. oas H.,
Gbera;c which cf the two 10 choo,c." We VIE.
tl,er,torc ~, as;oni>trl to learn l.at Mr. ks,
IN his late speech in thu /. :. Senate. In oppo,r.ya
to the Sub Treasury btll. declared that II sosi
conc to ttisIt these alternatives alone pm
scented To the pa'lit may individuals Who Ind >is.
nliz"d themeehe, b, thu sinrnce Of t!trn oppa>,.
ion to National Banf,. wonll 2a1,l. b,.n,r hrs
won' choose. in preference. scii.n.. which, soit
AZ c,usitnfioeI >crupes ar involved, u no I dlc
10 fewer O., less cugrat oLjr,linns thu, lite 6aaA
,a1 l.. ininltti, more 10 be dreaded, SO ,sr
sirn,ljoat Of eSrli~ny alone enter sot" tl'e qic,
ton.
Il was objected +, the y. .ional Bank, for -s,n-
pie that uo clause oi the constitution cn. be pointed
on, which expressly or by far inference c,1f.,.
naon Congress III. power II Incorporate It Cta a1y
pro, sion III i!c constitution he referred ~, Which,
c"arrs upon Congress, By Ike mast strained IN
ference. the powsr to transfer to the Executive tao
cp,tnly tl, control Of the public ,pf7e ia l.os
10Th the letter nI the spirit Of that instrument
ffc,sy ren.,f.1c >nch Il doctrine And YET hi,
aal,,ior is eis..,tnafy ,usehy Mr.. Virgins I'LL.
Agan-Does the constitutions, either expressly
ia.tlcnrall, aathoyise Congress to as>:t. 1'res'oy
Notes NJ al, much less Sin, circulating medium
81 the COUNTY, which they must ultimately become.
H. as mans Of the wiscst heals of the bcer-.
the State Baahs VIII be crushed by tbs fSoyss''.nfq
Moustcri Oh if, on the Other hand hr fe,s fSnH',
shall survive thu blow. and continue issue -sss,
tor the common currency, tScrcd ted u, they VII Is
by the intrr,lic IF law Which cXcIo{,sthrir rrceHo.
~ payment OF pul,hc dncs, whore. r,1 do.>
! Congress d srlTr is power TO rero-A' F'
distinct c0rrenc'cS, onr for the oiArn, AMI
the other for the 1sr9nnrut--thc bi'rr hm.'
deprecated BY the act oi government lt'r' Tor 'h'
people, and the gold AMI SILVER. appreciated bfY"n'
its Intrinsic and nominal value by the same act lnf
tie peoples servants, the agents selected TO protect
their Interests and to that tlcy suffer no dta
mcut :" For. after all nearly the entire pu7t,,
revenue is absorbed by the salaries OF pubic oleF'
and law which restricts the payment {" Pu"'
dues to god and silver exclusively TO thrf
bcncG. Mai justice-nay, what fropilcty,-lhff'
we ask, il lb,rr, ~ the adoption OF fiscal SYSTEM
the primary object OF which, Instead OF arnI'ifA,
good and equal currency Tor all Is TO produce
OF the people, and the - better currency" oi the 81
fce-hodrrs We arr aware that this idea OF 'iNo
cnrrrrcrs" Is rdiculcd b, the friends Of the Govern
mcn Bank--hut hey lave never attempted eN''t'
by rilitulr, answer lt--and we defy thel 10 si''
its fulIlity, unless thy do 50 by a}od'h"ei F'a
Hty dsoy, that the State Banks nlus be "e',I"H,
by the Sub Treasury schrnc, and that TIE AZ,
Currency uhch we are hereafter to possess WIN
the mites ot tbs Gorcramtm B5nh which, ny
laws Of lngress. honqh iaco3reriiHe into T''"'
cause resting on fixed capital, bu deriving '''S
credit Only from the pledged faith OF the so'ef'''s'
Gust The Continental Paper did, viii be "i%
possess cqaa value with geld aid silver Nj"
be The only means Of ayerling tho = two eur
rs We believe and assert, then again ash tho''
oppose National ljank. on constitutional s'o"'
to point to the clause Of the constitution WIN"
iers upon Congress authority to issue l''''
Notes, not temporary expcdient III
pecunary embarrassment, snch as tna' VIM -.