Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1838-01-12
20. 1876.

too many of the ordinary and rie arguments Of the day
upon the subject of banking to make i, in,eres,;ns
VIII, however, give you the sum and substance az bs
remarks IN the shape of confession of faith er the par
~ TO winch he belongs and OF which SO far he NAV h.
considered the prominent leader He hae put Mr. Srav
Tor and Mr.. Patterson in the shade.
ne Vhg Democrdttc creed, adopted W the Assembly of
ls3s-lbeleve IN free discussion prevent unstable lr
gsatlon further believe thatthe small note probibo,
law was sustained oy public sentiment but that thix
public sentiment was created Washington That
pubic sentiment has changed in regard TO this law
That the supply of currency belongs TO the leoislare
Ihat the people were justified in taking the small bills
OF other states, because their representatives in Nav
last did not repeal this prohibition law as thew should
nave done That the metallic policy Mr.. Van Buren,
prevented its repeal that the suspension of specie paw
nents destroyed that policy and that the Van Bures
legislature OF last year. were not honest enough admit
| the fact
Ibelieve soemnly that the legislature Of last wear
ought to have followed the policy of Pitt when the Bank
OF England suspended policy that permitted a small
note currency to supply the absence Of coin. That the
conduct OF the bankers since May last proves To u.s.
they VIII not abuse this law, by over increasing their
issues That the bankers not expect an eztssoa Of
.te suspension act and they do will give them up
the tender mercles OF the gentleman from ST. Lawrence
i (Mr 7. king) That 90 for a reasonable reform i'm
4 the banking system. That the banks will withdraw
their large notes and put small in their nd
Ihata paper currency is necessary the existence and
prosperity OF this country and that there is no reason so
limit it TO bills of five dollars and upwards That pa
per currency from dollar upwards is the true
American policy.
further believe that money is merely an agent for
exchanges That the gold and silver used for money
are dead capital, capital lost to the nation That il Is
more wise TO substitute for money paper title specie
Ihat To insist on the precious metals for money is the
same as insisting that all the yard sticks in the country
should be made of gold and silver. That paper money
IS the grand engine of modern civilization and pros
| perity.
And do further believe in the propriely and expe-
dency OF the repeal of the small note prohibition law in
two aspects either as temporary or permanent
policy fthe people had spoken by their votes on
this floor would 90 for temper airy repeal in order
10 supply them with money which the suspension of the
banks took away from them. l believe that the
pension was caused by this very law of 1885, and the
hard money policy of the general government Buta as
the people have demanded the peal Of this statute
go for its permanent abrogaon
And finally, do believe that Mr.. Van Buren's OBJ
ect is to destroy the State Banksthat his party seeks
to upturn all institutions social well as political
that the republican doctrines Of our party
ded and set at naught by Mr. Jackson-ha his couduct
as brought about the present Of thngs-hat the
| shameless minority on this floor go against banks
in toothat the locoocos destructives and seek
establish limited monarchy the ruins of the repub
lic,-and that the Wing Democratic party the only
friends of the people the constitution and the coun-
ry'! so help me Messrs. Harrison, Clay. Webster
their coed, uttered and professed by Messrs Mann
and Preston King in answer to Mr. Barnard
The Locotoco Democratic Greed profcssed in The
bly, Of 1888 by The minority-I do believe in General
Andrew Jackson and his llustrous successor Martin
Van Buren, further believe that the banking system
rebs the poor and eevates capital labor in
Just degree. That the labor of the country is awake
danger that asails from the banks Of the Union That
the people in their might will yet PROSTATE every bank
the earth that will openly fairly and Justly
believe that many of the safety fund banks of this
State are insolvent, that they all grind down the
poor. for speak knowingly with the dividend in my
pocket That we rs party know the game and invest
money in the banks to get ~ per upon IT, while
neighbors ignorantly render themselves liable to
charge of usury if they dare to take than per
| cent.
also believe that il for my party the people
would have been crushed death long by the rich
That the banks have proved themselves unworthy Of
confidence by suspending specie payments that the Dry
Dock bank is utterly insolvent that another safety fund
bank somewhere in 81. Lawrence county is in the
condition. That the banks should have third Of the
amount Of their circulation in specie in their vaults
That all such bills under dollars nuisance and
injurious to the people.
further believe that a mixed currency i, better than
paper currency that the only republicans;
and the wings, the old ederalists Of 1898, come
power again. That il the banks will not be reformed
| l am bound to extermnate them. That Chief Justice
Marshall was enemy to his country when he declared
that the sovereign power could destroy what il
ated. That every legislature can do away the acts Of
previous one. That bank charter is not a contract
Finally believe in the exposifons Of faith by
Mr.. Van Buren, in his first two messages; believe in
Governor Marcy and the Senate Of this state, in John
| G. Calhoun and Amos Kendall and last, though
least in the Chairman Of the Committee Of Ways and
Means in Congress So help me the Regency ard Pre-
mier Haynes OF Georgia.
Such the principal sentiments uttered during
yesterdays session of the committee, by the leaders OF
the parties. have put them into plain English
The committee sat till IL o'clock. r. NJ, before they
rose. After the bill reported. Mr. Mann offered
his amendments demanding the yeas and nays tnem-
These very projects will be Introduced another
sion by the wings and carried They go provide for
an additional specie in the vaults Of the banks
&c &c The wings deserve great credit for their great
in geiingth snail measure through the
expense of good dinner and - hours fatigue. Itonly
shows what the friends ofthe people and will
Success TO them BY the by, Mr. Mann declared that
the people do require small notes.-the agricultural
people The people do not know what they want They
stimulated and guided in their petitions by vile and
unprncipled demagegues, wings well rs locofocos.
This currency question good hobby for poliu-
clans, to be laid down by either party.
From our correspondent BrosgAam-No. XII
ALBANY, Jan. 10, p. M. 1888.