Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-12-07

n Wild and reckless speculatluns the disapponl
menls of which threw the cnunry into commissions OF
panic and all but produced violence and bIoolshcd.
The mprudent expansion of bank credits, which was
the natural result Of the command Of the OF
the State furnished the for unbounded license
every species Of adventure seduced industry from lis
regular and saulary occupations by the hope o! album
dance without labor and deranged the social state by
tempting all trades and professions into the vortex OF
speculation remote contingencies.
The same wide spreading InHurnce lmpeded also the
Of The Government cur,ai!ed its useful npe
raions, embarrassed the iuihlmenl OF It's obligations,
and seriously interered with the execution oil the laws
Large appropriations and oppressive taxes the
raj consequences of such connectI"n since they in
the profits of those who are allowed I" use the
public funds, and make it their interest that money
should he accumulated and expenditures multiplied 1t
is thus that concentrated money power tempted 10
become active agent in political affairs, and all past
experience has shown which side that influence will
be arrayed We deceive ourselves If suppose that
il will be found asserting and supporting the rights
of the community at large III opposition 10 the claims
OF The few.
In Government whose disting gushing characters.
tic should be fusion and equalization Of It's benefits
and burdens the advantage OF individuals will be aug
mened at the expense Of the mass OF the people Nor
is il the nature of combinations ;rr The acquisition of e
gisative influence to conhne their interference the
single object for which they originally lnrned The
temptation TO extend il 10 other matters the
rary not unlreGueny too strong 10 he resisted Tine
influence in The direction oil public affairs, OF The
Is.
ing sensbly and niuriousy affected by giving to
paralivey small but efficient class direct and ex
elusive personal interest in important portion OF the
legislation of Congress that whch relates the
tody of the public moneys II laws acting upon private
interests cannot always be avoided they should be
fined within the narrowest limits, and left, wherever
possible, 10 The Legislatures OF the States When not
thus restricted, they lead 10 combinations OF powerful
associatons foster influence necessarily selfish, and
the fair Of legislation to sinister ends rather
than to objects that advance public liberty, and promote
the general good.
. Tie whole subject now rests with you; ard cannot
but express hope that some definite measure will he
adopted at the present session
1t will not, sure be deemed out Of place Cor
here remark that the declaration of my views np
position the policy Of employing banks repositories
of the Government funds Justly be construed
indicative OF hostility, official or personal 10 those 'nstl-
ulions repea this form. and in connection with
this subject, opinions which have uniformly entertain
ed and all proper occasions expressed Though al.
opposed 10 their creation in the form OF exclusive
privileges and Stale magistrate, aiming by appro-
pirate legislation 10 secure the community against
The Consequences Of their occasional msmanugcmen!,
| have yet wished 10 see them protected in the
exercise of rights conferred By law. and have
doubted their utility, when properly managed, in pro-
noting the interests of trade and through that channel
the other interests Of the community. To the General
Government they present themselves merely az State
Institutions, having necessary come cton with lis
legislation lis administration Like other State es.
tabsnents they may be used not in conducting The
affairs OF the Government, as public policy and tile &C.
neral interests Of the Union may to require The
only safe proper principle upon which their inter
course with the Government can be regulated, is that
which regulates their intercourse with the private cIlI
zen-lhe comforting Of mutual benefits When The Co.
yernment accomplish n financial operation better
with the aid Of The banks than without, II should be at
liberty seek that aid as wOuid the services OF prl
banker other capitalists agents giving the pre-
ference those who will serve il on the best terms -
Nor there ever exist an interest in The officers OF the
General Government, SUCH inducing them To embur
annoy the State Banks any more than TO incur
the hostility Of any other class Of State institutions, or
Of private citizens 1t is moi in the nature of things that
hostility those institutions spring from this source
or any opposition 10 their Of business, except
when they themselves depart from the obj"cls Of their
CREATION and attempt 10 usurp not conferred upon
them snbverl the standard Of value established by
the Constitution While opposition 10 their regular ope
raons cannot exist IN this quarter resistance TO any at
tempt TO make the Government dependent upon them
for the successful administration OF public afilrs.l
matter Of duty, as trust ii ever will be Of lncinanon,
from wha, motive consideration the attempt
may originate.
II is no more than Just the bank. say that in the
late emergency, most uf them firmly resisted The strong
est temptations TO extend their paper issues when APP
pareny sustained in suspension of specie payments
BY public opinion, though in invited by
Legislative cnactmenls 70 this honorable course aid
ed by The resistance of the General Government act
ing IN obedience the Constitution and laws of the
US To the introduction Of an rredecmabie paper me-
restoration of our currency TO sound state and The nu'
sIness OF the country TO ils woned prosperity. The
banks have but 10 continue in the sale course and
be content in their appropriate sphere TO avoid all inter-
ference from the General Government, and In derive
from il all The protection aud benefits which it besows
other State establishments on the people OF The States,
and on the States themselves In tins, their true posi-.
ton they cannot but the confidence and good
will Of the people and The Government, which theycan
only lose when, leapng from their legitimate sphere,
they attempt control the legislation OF the country,
and pervert the operations OF the Government to their
purposes.
Our experience under the acl passed the last session,
TO Grant pre emption ri ghts 10 settlers the public
lands has yet been too limited to enable US to pro'
nounce with safety upon the efficacy OF rs provisions 10
carry out The wise and liberal policy OF the Government
n that respect There is, however, the best reason TO
anticipate favorable results from It's operation The re-
Communications frmerly submitted 10 you. IN respect 10
graduation Of the price OF the public lands remain 10
be finally acted upon Having found no reason to change
the views then expressed your attention TO them again
respectfully requested.
Every proper cxeron has been made and Will be con-
,nued TO carry out the wishes of Congress IN relation
10 the tobacco trade indicated IN the several resolu'
tons of the House Of Representatives and the legislation
of the two branches favorable impression has, trust,
been made in the different foreign countries 10 when
particular attention hos been directed and although we
cannot hope for early change III their policy as IN
MANY of them convenient and large revenue Is derived
from monopoies in the fabrication and sale OF This at
Gle; yet these monopoes are really injurious 10 Tue
people where they are estabIshed ana 'e revenue ue
rived from them may be less InIurously and with equal
facility obtained from another and liberal system OF ad
minsiraon, cannot doubt that our efforts VIII De
eventually crowned with success, If persisted IN with
temperate mness, and sustained by prudent legislation
In recommending to Congress the adoption OF The ne
cessary provisions at this session for taking Inc next cen
sus or enumeration OF The inhabitants OF Inc - he
suggestion presents ITSELF whether the scope OF the mea'
sure might be usriuy extended, by causing II 10
embrace authentic statistical returns OF the great mic
rests specially entrusted to, necessarily affected by,
the legislation of Congress. ~
The accompanying Report of the Secretary OF war,
presents satisfactory account Of the state OF The Army