Richmond Indiana palladium. [volume] (Richmond, Ind.) 1837-1839, 1838-04-28

= "A Il u II ID A Z M u II ~
! bills for the use Of the people. 1t was q day o
rejoicing ~ we have lately seen, among the poo
pie OF New York when the legislature Of tina
] state suspended the small bill restraining Law
I and furnished the people with some medium fo'
small payments, better than tho miserable trash
} which now annoys the community.
The government, therefore, insist, is evident
. ~ breaking down its own declared policy; 1t is
defeating, openly and manfcstly defeating its own
, protested objects.
And yet, theory, Imagination, prcsumptious
generalization, the application Of military move
nenis OF questions Of commerce and finance, and
the distractions 1t metaphysics, offer Us, in such
state Of things, their panacea. And what IS IL !
What IS IL! What - to cure or mitigate these
evils, what 10 to ward off future calamiiies?
Why, SIR, the most agreeable remedy imaginable
the kindest, tenderest, most soothing, and solac-
ing application in the whole world Nothing, sir,
nothing upon earth, but smart. delightful, per-
petuaI, and irreconcileabe warfare, between the
gov ernment Of the United States and State banks!
All will be well, we arc assured when the govern
mcnt and the banks become antagonisticai! Yes,
SIR, ''antagonsticalr' that is tho word. What
stroke Of policy, sir, is this. 1t is rs delicate
stratagem as poor old King Lear's, and n good
deal like II. 1t proposes that we should trea.i
lightly along, in felt vclvot, till We get tho
lie lie
kili!''
Sir, we may talk as much please about
the resumption Of specie payments, and tell you
that, with government thus warning upon the
banks, If resumption should take place, another
suspension | fear would follow. 1t is not war,
successful or unsuccessful, between government Il
the banks; it is only peace, trust, confidence,
that can restore the prosperity OF the country.
This 81 stem Of perpetual annoyance to the banks.
this boarding up Of money which the country de- |
mands for its own necessary uses, this bringing |
Of the whole revenue to act, not in aid and furth
erance, but in direct hindrance and embarrass-
ment Of commerce and business, is utterly IRE
concileable with the public interest. We shall
sec no re turn Of former times till it be abandoned
altogether abandoned. The passage Of this /
bill will create new alarm and new Distress
People begin already to fear their own govern
nent. They have m actual, dread OF those who
should be their protectors and guardians There
ire hundreds Of thousands Of honest and indus
rious men, sir, this very moment, who would
eel relieved in their circumstances, who would
zee much better prospect Of An honest Iiveli-
rood, and feel moro sure Of the means OF food
md clothing for their wives and children, il they
hould hear that this measure had received its Q
|eath. Let US, then, sir, away with it. Do we '
Tot see the world prosperous around us?-Do VIC
ot see the other governments and other nations g
by experience, aud rejecting arrogant h
and theoretic dreams, accomplishing c
ne great ends Of society. q
Why, sir, why arc we, why are we alone n Il
,ong the great commercial Ssatesa Why we o
D be kept the rack and torture these ex- "
eriments? We have powers, adequate, com Il
lete powers. We need only to exercise them O
re need only to perform constitutional duty, n
nd shall spread content, cheerfulncss, and 81
~, the whole land. fG
This brings me, sir. to the second inquiry. ia
Is this measure, Mr.. President, just exercise ei
the powers Of Congress, and does it fulfil all to
Ir duties7 b'
Sir, have SO often discussed this point, have "
constantly insisted, for several years past, 10
'e constitutional obligation Of Congress 20 take al
ire Of the currency, that the Senate must be al os
lady tired Of the speaker, If not weary Of the CO
pic and yet, after all this is the great and par te
mount question. Until this is settled the agta is
On can never be quoted. Ii we have not the ~
we must leave the whole subject in the hands tn
those who have it, in no hands; but if we W.
we the power, are bound to exercise it, and
cry days neglect is violation Of duty. | OF
crefore again insist, that We have the power, tn
ID I again press its exercise on the Houses OF La
,ngress. | again assert, tina! the regulation Of mi
. general currcncy-of the money Of the coun- ad
v. whatever actually constitutes that money pO
ono Of our solemn duties.
The constitution confers on Us, sir, the exclu- oP
70 power Of coinage. This must have been
for the purpose Of enabling Congress to esta- me
sh one uniform basis for the whole money sys- de-
n. Congress, therefore, and Congress alone me
3 power over the foundation, the ground work an
the currency; and it would be strange and Is
omalous, having this, If it had nothing 10 do Is
tn the structure, cdtce, to be raised on this the
,ndation? Convertible paper was already in VIII
culation when the constitution was framed, for
must have been expected to continue aud to bic
crease. But the circulation of paper tends to be
place coin; may Danish it altogether; at this en'
~ moment it has banished it. II, therefore, tor
power over the coin does not enable Congress ted
protect the coin, and to restrain any thing me
itch would superseds it, and abolish its use the che
ole power becomes nugatory. Ii others may ant
the coin, and fill the country with paper era
ich does not represent coin, of what use, beg or
know, is tina: exclusive power over coins and Gu!
mage which Il given to Congress By the con-
luton! COZ
Gentlemen on the other side admit that it 10 ms
tendency Of paper circulation TO expel tho OF
q; but then they say, for that very reason, pos
v will withdraw from all connexion with the ers
,eral currency, and limit themselves 70 the this
ole and narrow object of protecting the CON- thi.
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