Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-09-25

tho Government heller than the People: Are It's inie
rest md more TO be consulted than ihers
The Government have one interest ana the leor'e
| apobrr, Shall the Government prosper while the
| pcopIe suffer: These questions which ought 10
| be answered. In my opinion, the Government ana
the People should be bound up in the same destiny
c,, oo,d or for evil; Or If must discriminate, save
the countfy aud let the Government perish. For my
own part, | perceive nothing in The nature oil
ihinos or in Constitution, which demands or arthur
.s This separation OF the Government from The govern
ed but on the contrary the whole spirit Of our insii'h-
tons is hostile to such policy CnqnestiGnab!g the
fiscal arrangement of the General Government should
he made 10 work portion o the tnanc'h! machinery
oG The country Ii is but part q" H. and should always
he prrs-rrcd in harmonious OPsrat"n. Instead OF
Thai il is proposed it should rcvorr upon an axis "i lis
own striking occasnna!y and nj certain points Upon
The treat pleI machinery hch sc"nGuc'ng n! our
affairs IN such as tu lar and drcOnros- IT. The
result would b. eternal disturbance and c"nIsrn, ncnn.
salient with the we'll being Of The country II ~ very %
yous that the chuun'i. ui circulation bring filled with
banks answering all the purposes OF socrty. except the
s;nrs one oil paying G vrrnnru dues for w!ic! alone
specc is competent, this article wall br used exclusively
for that purpose II will TO be mOnry, and be.
come . commodity IN which Government taxes are eX
sc,ed Its price therefore, will Iciultr according 10
ibql demand Heavy ImpprlaIIl us viii make Il dear;
with luhl impOriaons il will become chear: aud this
ourraiiSn it been SAID by the advocates Of the CXPe
rilsul puts The banks in antagonist relation To q
large revenue Ungusstiunaby does by pluclr them
in opposition To large C0mnPrcr w:.! pro.
duce run Upon 'hrm for specie To pay the duties. and
ihus direct opposition la commerce Is rnsendered -
Now unless commerce be considered an ev'l, and 10
cramp and cripple b. wise p1cy, this result Is /" he
-deprecatcd | am that many h0 regard The l:e
rnbs The result Of "vrrITsdnr. are NJ" vii
ling that of finance shall be adopted that viii
curb lis think, SIR, that We have struggled
too long for uneiiered commerce To !a now III c.
strcllys sysiem and If too large revenue result from
our prosperity. let destroy the prosperity. bat re
duce the revenue.
Another obvious consequence which will result from
the iucuatun, Of the vaiu OF specie when ii il made
iex-pavng commodity, will be the disturbing Influence
upon the value 81 the paper circulating for, although
gprcc does enter into the circu'an with paper, JET
it is The standard Of lis value, and the changrs IN the
standard vary the relation between II and paper, and
.hus affect the currency with unccrsing mu'ations.
These checks and difficulties in The o. commerce,
will of course inure the whole community, and will
bear with more drIcernus energy the commerce "i
the agricultural States. With Us, ii is comparatively
feeble; we have Just taken 1t in hand to secure to
ourselves Just participation III this important branch oil
national Industry and the spirit to undertake. It, and The
accom- pish IT, have both resulted from the re-
Iaora Of commercial cbarrassmrnts by the reduction
OF The Tariff. The cnIharasssErnts are oppressive IN
proportion the weakness OF i!r commerce on which
they operate. The fixed capital. The Established hahl
tuts the existing institutions of New York can survive
shock su..Gn an oppression which would ruia Nor
folk Charleston.
Il has been affected that under the Constitution the
Gorrrumcn has the power 10 receive hank bills IN
payment Of its dues, any Thing but god aud silver
This notion has gained much ground; Tor these who
suggest it, at the same lime contend that the Cavern
has only the right tn receive paper money but
To create it. Mr. McDuiiic i'll his very emphatic 70
lion Of this novel hypothesis, asserts that the Govern
lnent might receive It's durs IN hckba's; and surely 1t
would be difficult /, conceive that the receiving u this
article would confer upon IT the qualities Of money
and jpso dc0 endow the Government with the power oi
regulating the value Of Lrickba's To believe IN such
financial ransuhsianati"n would require more de-
voted faith than has ever yet tecn eIacsd W any Fo'
l!tical pa pacy IN this country.
If the policy cf exacng specie he Just or any Of The
arguments used maintain II be irne IN regard TO the
General Government. they cqIa'y applicable to lne
State Governments, and the experiment can be most
safely tried upon them Let the divorce, then, OF Bank
aud State begin the States, where the success aud
phenomena ul the experiment upon The wealth and pro-
perry Of the country can hr minuriy watched
will trouble you, Sir, with any observations on
pToposirion 10 create Federal Government paper
pcrnanen, medium for The Government or the people
Such prorc, Will hardly gain favor as long as the con
lncnai per is rememGrTtd and ha"ing been rird ny
every modem Government III every variety o nrm win
always the sa me result Of uschicvous depreciation, we
mast he totally regardless OF the lessons OF experience
we adopt it, There is EXCEPTION in the history OF
housa nd attempts 10 make Government paper cTculat
inv medium, lis total and runuus failure The fsas"r
is bYrus; men will take in exchange for their pro
petty. any Thing but property, or what TrPrrsens IL
G"vrrnncnt paper rs neither Inc The o'her;
represents the will Of the Legislature and nothing more
1t has what is essential 10 curre"cy-conTerubI''y
Hence It's destiny has been uniform
Itisa characteristic, and 10 my mind fearful, cir
cums,ance attending he rev nancaI measures. ana
III" araumn's brought t,su~'arn them, that they avow
edy all experience a defiance. They scorn Undue
ton-reject lacis-and, ahs'racns US entirely from on
concrete existence. propose 10 remodel society by The
deductions of abs!usc logic, aud TO subject the rea
affairs Of life to The doubtful GrcIsIun Z" potential theses
lls think safer, though less brilliant course 10 ad
her. TO experience and 10 nke for granted in politics
do in nature, that what has happened always vii
| happen again.
gives me pleasure Sir, TO turn from topics which
apprchend there is considerable difference of opinion
between US. Others which. if do not fully
| there is al leaste discrepancy.
You say that the gentlemen whom you represen ART
| crrcsrd to the establishment of n National Bank
! Concur with them Sir. ] believe such an institution
under present circumstances lnPypedient and lmpract
cable nor do believe lis establishment will ever be other
wise, unless the destructive principles OF the ruling party
continue harrass the country that II will be driver
torsca from anarchy al the risk OF drspnsn In l~lU
/ inexorabe necessity forced the Government upon The
exercise Of tins very doubtful powrr-a necessity SUPER
induced by The o! the M such necessity car
again be created, hut by The folly wickedIess OF
bnd, muratcd party, which, for the SINS of The coun
| try at present controls lis policy There is
the gentlemen whom you represent SIR, who wi! 10 o
suffer more arrest this disastrous career and avert the
n.cessly which may drive the Country upon Nationa
Bank than l. and d, clare with perfect confidence. ,ba
if the Administration will pause IN It's career o violence
and urnIsn-or IT, what is more probable, IL be beaten
down ny the sober intelligence of the C0untry-ihrrt
| will be no National Bank established. II, on the con
lrery they continue 10 insist upon their exaggerated
theories and are not rebukrd by the moderation
practical good OF The people National Bank vii
bs the inevitable consequence Towards this institution
the public mind is obviously lmpeled, by the ci"Its o
these who would persuade that the destiny ot th
great people aud of their free institutions is reduced IL
The alternative of National Bank, or all exclusive cx
action of gold and silver BY this mode of stating The
argument, all middle ground lseEciud-d They pfesen
ScyIa on The one hand ard Chary bds the other,
denying any passage between them leave us which q! i
to choose. 1t is common enough occurrence II
heated dspntaons, for deSlrous dnIectcans to drive
each other upon extreme ground aud TO close the con'ro
vcrsy by leaving each other the selection oi create
or less evil Thus party proposes TO Brighten in