Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-06-18
LxNCgfBURG, JUNE ,s
RESUMPTION

IL IS now SAID, on apparently authentic ;.e
that IN consequence Of the New Trq1su,, 1 .1'''0n'
Gently issued by Mr.. Woodbury.. and H.. 9'a'' 'e.
ed afowal OF the leaders Of the Admin.,.. Nreet.
tLatthey are determined if possible. tn CIV, parry
the Sub Treasury bill, Mr. Bnldle has u, through
determination 10 resume specie paynen,s ., ''s
'eal' Mf. d recent letter TO Mr.. Adam.
VIII be feco'Iected, assumed. as the basis :"
promised resumption, that the repeal or a. me
Gle Circular, by overwhelming maiori,;4s ~ .pe
branches OF Congress, and its aparo,,l l..
President, who for the first time. IN d., NV
deyiated from the :" footsteps of his al.,., ~
predecessor Indicated an suspicious chanp. ;,,l
policy oil the government that, instead off,.
flaming sword OF war, which it had 50 lon, b,,,I;,,
ed over the heads of the Banks it had drte,,,;,.1
! extend to them the olive branch Of no,co. =,
that in this change Of policy he for the frs, ti,,o.
slimmer'ng ray OF hope that the currency pi,h,
be restored to that enYiabe condition Which !, r,.
scented TO the admiration oi the world ,,ior g.
commencement Of that series of measure, which.
suited IN It's utter arrangement, and in the rros,.
ton OF all The great interests ofthe county, I'm, H.
issue OF a new Circular. mmed1tely upon the ar,e
'ieh' oil the Old evlncng, not so much by its realrc
IhentS as by its spirit the undying nature of the b
tIhty felt by the Executive to The Banks and ,l.,
all, the asowa fits determinations in defiance ofla
will othe people, unequiyocallv expressed to fo,.
The Sub-Trcasury bill through Congress-. nv E.
means or loul-a measure of the moss direc,
tive hostility to the banking System.-bas co,,,.l
led Mr.. Blddle, tmost reluctantly cannot dou6fA
to review his determination and like pruden, mani
ner who never looscns his ship from her moor,nrs m,
unimls his sails whilst the ind Cations Of = comm,
storm ale pictured on the sky, to Keep within h,s
snug harbor, until cur Rulers oaL if taught chin,
by hcr weakness or their fears, that tins war upon
State Institutions, by the Federal Executive viii ma
longer be tolerated by free people.
When, then, the Richmond Enquirer asks, VII,
will the |. States Bank DO now J" answer, after
the Yankee fashion, by asking ,r,al arH dic eoreq.
neai do nor? lor, on the reply to the lasl que.o,
depends the response which must be given to tda
first If the government will abandon its Experiment,
and its EXpediens, and withdraw its declalaig,
OF against the institutions chartered by the States
for their convenience and interest. then the L. 3
Hank viii say, it did fey days ago. on the seen.
ing exhibition olthis spirit, " Resuuch If otherWs.
ii the Banks TO have suspended over tatr
heads the large and dangerous discretion vesieln
the Executive by existing and proposed laws, whgJ
they know too well will be employed to annoy l,
credit and break them down, Il cra answer will all
verse to immediate resumption. Nor can lIfy
be ccnsured for this course. Their first ael
most important duty is to protect themselves against
he hostility of the Executive; and this not al5nc
principally, because self dtf,nce is the first law ri
nature but because with their own safety the ntctes,
OF the entire community are closely identified, my
inseparably interviewer. In making war upon lho
Banks, indeed, the Federal Execu tive makes
both upon the Rights Of the States which gaze
them being, and upon the prosperity Of the reora
who are accommodated by them, and who, lndce.,
are " part and parcel o them. In defending item
selves against this unnatural hostility, the Banks
though they may subject the community 10 ten
porary inconvenience, are Guarding lher pelmanea'
and solid Interests. However anxious, therefore, VS.
may be FOR general rcsuml ton Of specie -
mens, we cannot cersure the Banks for deasa,
that desirable measure long the Executives
armed with The power, rs he already cynccs the Dis
position, to crush thema ALL the fyrlnt Nero dest
ed to decapate the Roman people, at single bio"
One more remark, to which we invite the srec"
attention Of all candid minds When on the repea'
of the Specie Circular, Mr.. Bddle promptly nay
eagerly announced his intention TO cooperate w'h
the general government in promoting speedy ie
supon of specie paymcuts, what sad the u'ooe'' pe
Enquirer, and other politicians OF the same stamp
Did they give him any credit ior hls patiiouc "''s
minatIon 10 unite with the government in restoring a
currency? So far from it, they even npeacHe' ''
sincerity-and declared that he was forced by our
| circumstances, to rcsumc-by quotations " j.
stock, showing that the solvcncy Of his BANK ND
doubted III the great stock markets CT Europe d."
| by letters from agents abroad, and by the rcmaa
| srances OF his friends at home telling him that hs
credit was suffering, and that even his skill asa Daa7
cIer began to be questioned; " that being thus olt.
ed upon. he eagerly ayalled himself Of the repeal ni
! Specie Circular as a protect for doing what tc No.
already determined upon, under the pressure oionF'
circumstances but what he dislIked doing "'tgo
some act of the government, tending to yindic"o
propriety of his previous course. Butwhat 10
gentlemen say now Why, that Mr.. Bidulc ",
intend to resume ut all, and that his letter u
Adams mere trap to catch guns
Then gentlemen. what becomes of that olhef P'o'3
story OF yours, that he had deter 1ihea 10 'esu
fore the Specie Circular was repealeu-""' Tho
determination was the result oil dti'cc''"0n ,o
value of his stock, in the suspicion winch
over his credit and in the clamor oil his irienas ~
all these ceased TO opera S''''''' -. now
with the action OF the Federal Executive !" ,.,.
Treasury Circular and with the avowai OIL 10
,1,o 9Th frpoSuty