The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-07-04

the collections were not more than 30 millions Upon
the score Of ecoLomy, then the speeie-paying note
system should be preferred because It's superior eco
nomy has been practically tested
One OF the reasons urged by the honorable gentle
man from South Carolina, Mr.. Pickens,) in favor
OF the adoption of this measure IS, that this Govern
men has no Constitutional porer TO receive any other
medium in payment of the public dues than "gcld
and SILVER" This TO me, is nep proposition, and
n0rei doctrine and breaks upon the country in the
face OF that construction Of the constitution which
has been given to il by the uninterrupted practice of
the Government, from It's foundalion-an interpre-
tation Of the powers Of the constitution made by lis
very framcrs at the moment Of It's adoption, and
uniformly acquiesced in by the wsest and most pa
lriotic statesmen, who have been called into The
executive administration, or the councils OF legisa-
lion--a construction which, under such ciIcum-
stances, should not be lightly regarded or rashly
reversed. There Is DO power imputed 10 this Co
vernmen by the constitution, 10 compel any OF its
citizens 10 receive any other medium Than gold and
silver in discharge of their debts and this power is
prohibited the States by the constitution but the
constitution nowhere prohibits the citizen from
ceiving payment in any medium he peases, even if
il be brick bats and II would be monsrous II IL did
and while the Government is not bound 10 receive
any other medium than gold and silver, cannot
perceive where is and why il should be- prohibited
from voluntarily receiving any medium which its
interest its necessity, or conven ence might justify
or require. The constitution empowers the Govern
ent 10 pOTToW money, YET IL does NOT prescribe the
terms or the in which the loan shall be con-
tracted: this is matter left entirely to the decision
of Government The constitution empowers the
Government 10 levy taxes but il does not prescribe
the subjects, the manner, or the medium this is left
to the discretion Of the Government, as il should be-
to be controlled by circumstances. The constitution
imparts to the Government the power 10 make war,
but IL does not define the number or description of
troops, or the manner in which the shall be
Quoted this is leff TO the discretion of the Govern
rnan he ttnn In farV
authorize the Government 10 construct forts, ar
senals &c. yet these incidents 10 the war power,
and is the right Of the Government to receive any
medium of payment which il may designate pci-
dent to the taxing power. To illustrate what might
be the danger of such construction of The consitu-
ton, let us imagine case Suppose The Government
engaged in war, in any other state Of embsrrass-
ment, and from the scarcityof gold and silver, il
could neither collect its dues or contract loan in
that medium, although il could collect its dues or
make loan in another medium, which would an
swer all the purposes of money. Is il prohibited
II the doctrine of the gentleman from Sorh Caro-
lima be true is and supplies could not be procured,
and military operations carried on, to the great
danger and damage OF the country. construction
Of the constitution which would lead TO such dsas-
trous results, cannot be sound. The result Of the
gentleman's argument is that because the Govern
ment cannot compel Others IL cannot Itself, however
necessary or convenient receive any other medium
than gold and silver in payment of It's dues, con-
cluson entirely illogical and inconclasive The
constitution Of the United States is The supreme law
of the land and il the doctrine OF The gentleman
from South Carolina be true, the State Governments
have no rightto receive any other medium than gold
and silver in payment Of their Dues and have been in
the habtual violation of the constitution and this
would lead them to exact gold and silver The
delegated in the constitution and is only authorized
as an incident of the power 10 contract loans and
debts. think these reasons of themselves, amply
sufficient TO refute the argument
! have heard much, Mr.. Chairman, in the course
of this debate, much said Of the constitutional
1eacy" Yes, sir, the g constitutional currency"
Now, sir, il the word currency is any where
written in the constitution, it has escaped my re-
search, although most vigilantly made. II It any
where prescribes currency have not seen it.
can find in the constitution the power to coin mo-
ney and regulate the value thereof and TO "regulate
the value of foreign coins !" but cannot find sin
gle sentence which makes gold and silver coin the
eretusiue currency Of the country can find in the
constitution that the States are prohibited from max
ing any thing but gold and silver legal Chat is a
compulsory tender in payment of deb.s but can
no where find that any man is prohibited from re-
ceiving payment in any medium which he chooses.
What then Is currency any thing which has credit
enough to give ii circulation, whether bank notes,
bills Of exchange, bonds, notes Of hand: Circus
ation, not money constitutes currency and do not
perceive that The constitution prohibits any man. or
set Of men, from giving currency 10 any species of
obligations which creditors are willing To receive
Such power would have cloggei and embarrassed
commercial operations TO great degree, and have
been most arbitrary and despotic prohibition Gen
tlemen forget that there is material difference be-
tween willingness and compnision and that although
the constitution may have most wisely protected the
people from the compulsory receipt of any medium
but gold and silver, that il would have been very
wise 10 have prohibited that which they were willing
| and preferred receiving. This principle Of con-
Sti0nal currency has crept into the dogmas Of po-
itica orators but can no where be found in the let
ter or spirit OF the constitutions and when hear the
| q ~
the constitution is entirely SILENT and which il could
| not prescribe, | always conclude that he, who uses
it. is making and not interpreting the constitution
For sir, in these latter days, readily find consi-
tutional terms, in partisan pocabnlaries which can
where be found in that wise but much abused and
perverted instrument.
The gentleman from South Carolina relies upon
the act OF ls9 requiring all public dues to be paid
in gold and atrer only as conclusive of the truth Of
the Interpretation which he has placed upon the
stuion. That act reads thus. "The duties and
fees TO be collected by virtue Of this act shall be
ceived in gold and silver coin only"
Now sir with due Difference 10 the opinion Of the
honorable gentleman think this act proves directly
the reverse of his proposition This act was pass
ed during the first Congress under the constitution,
| and if the constitution did not permit the receipt in
payment OF the public dues in any other medium
than gold and silver il was an act of useless legis-
lation and only sought TO do that by law, which had
been done by the constitution The very fact that
the constitution did not restrict the medium in which
payments might be received, rendered this act ne
cessary. Many of the very men who framed the
constitution were members Of that Congress, and by
this act have themselves interpreted the constitution,
so TO leave no doubt whatever, that the medium
of receipts intended to be left to the discretion
of Congress, 10 be controlled by the convenience,
and the necessities Of the Government. But, sir,
did that act exclude the receipts of convertible bank
notes answer, no; because at that time CONVEX
lible bank notes were regarded as equivalent to,
and treated as specie. For the purpose Of sustaining
/ into I hera fro