Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1838-02-08
GENERAL. ASSEMBLY, OF vUuG,1
HOUSE OF DELEGATES.
MONDAY, Jan. ~, IS3S.
CURRENCY QUESTION.

CURRENCY QUESTION.
Mr.. Watkins, after handing in some
petitions, took this opportunity of ex-
pressing his opinion or this question:
Though he dad not agree With all the
Resolutions which had been offered
yet be approved ofthe conciliatory spi.
rit which characterized them. Mr.. w.
then offered the following Resolution,
which he thought would meet the views
Of all pariies:-
Whereas, experience has shewn that
the oonnexIon heretofore subsistine be.
tween the General Govern nent and
the Banks. in the collection, sale keep
ing, and transfer Of the public revenue
is not necessary to the fiscal operations
OF the Governu ent, and has proved in
jurouS 10 the banks themselves. by
stimulating them % over issues
And whereas IT Is important N all
times, that the Government should
have perfect and immediate control
over lis own funds. unaffected as far as
possible by the action of private corpo.
raiionS, and that the latter should have
no inducement or temptation 10 mingle
IN the political conflicts Of the day. or
The Government to influence or control
them m the management Of their pri-
yate business-iherefbre
Resoirei, That the conneXion exist.
ing betSeFn the Government and the
Banks, prev ions 10 the suspension of
specie payments in May last. ought
not TO be renewed, nor should Con.
gress employ the agency of any banks
10 collecting and safe keeping the pub
nc revenue, exceP, as special deposi,o.
rie8.
Resoire'i, That v bile We can recog.
nIze no other standard Of value than
gold and silver, and believe it is essen.
iial 10 the soundness Of the Currency
That larger proportion Of the precious
metals should be introduced into
the circulation than has hitherto exist
81, 10y creating greater demand for
lhem' yet we are willing that the pub
lie revenue shall be receivable m the
notes OF the specie paying Banks. PRO-
'ided that the balances due from them
shall be actually converted into spccie
at short invervals, and placed IN sps.
oial deposiie after such line AMI under
such regulaiionsas Congress may deem
eHPedieni, 80 ~ not to Affect o. unions.
" The interr.is Of the Banks. wb,lt
hey prevent The public monies from
being employed ior private or corpora.e
purposea.
Re'oirek Tbpl however inporl.nt
The principles ~ roltcy and expedieo.
~ involved IN the question now pend. /
ing before Conzrrss. Oi,h respert ~
The hscal operation of the Government, 4
may be. and a, much a. It may be de. T.
'iffed to see the subject speedily adiua. .
81 upon just and proper groun5s We
10 not conceive that u should produce 4
dissension 10 the Republican psrtv i, /
prevent those v no diiTcr IN opinion 81
ihis pint alone, from acting bsry,o,,.
ousiy together 10 fuprori q the general
meafurFs ~ ihe present Adminisif,.
non, without which ne fruiis of ihe
victories Won by concert snI onion NAV
be lost BY unnecessary disisions.
Rf'otrs'i, That be corlislly approve
he Temperate. cn1ciliaiory and liberal
tone oi The Pre- ddehfs Message 10 Con.
gre" on ihe subject II the currency
lnd nat our confidence 10 hi, Wisdom
prudence, patriotism and h5eliy. re-
mans nnimpaifsd.
~. wished The Rrsolution. 10 b.
.sid upon ihe table. sud printed r.,
Ne puTo'e n due dehbefaiiou a.
,ppsaled n ne House 10 think vel
'a TIE fpbieci. and ihai 30 oes uo,.ii /.
'or1nii himsslfhssily. MF. ~. tben 4
pToceedfd 70 advoesie ths panrinles
'onlaiued 30 hia Resolufions sbj n
prove aHeng other ibings tbst The