Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-07-26

the country, and the sooner that was brou
about The better. Such was the oucra,ion
of the present state of the circulu,iu
medium. he proceeded to show, ,l,a, tI,, din
ties lnid 10y the United Stale were at n raj
ol ~ per cent. higher in Boston than i
na't',n"re and IN Baltimore higher than il
washington, DC. Ii Congress were to pas
4" statutes on thr subject, he said, the,
would not make the law more concllsiv,
man II was, that nothing should he receive,
'n payment OF duties To the Govcrnrncn
""t specie; and yet no regard was paid Il
the imperative inJuncti0nS Of the law i'm thi.
respect. The whole strength of The Gov
crhiiieht' he was OF opinion, ought Ia he pu
"rth 10 compel the payment of the dutie,
ana taxes To the Government in the lcna
currency Of the country" This. sir. wn,
The language, and ,heS the opiuious OF
Daniel Webster, than whom there could br
no higher authority with some gentlemen
III this country. We see no wotul prccic-
tlon "t destruction to banks or credit M tho,
time. ny the exaction Of "specie" in pub
lic dues, even though il should amouu,
{" "4o millions Of dollars Il year" will
quote bu' one more authority, aud then am
done with this point for The present. An
nther gentleman. on the 9Th February.
ioiO,ili The same debate, used iIIi, kunpuuor.
w th regard To 1hr Irest III time he
SAID, he should he glad to know why The
Treasury of the United States had nor my,
The command Of specie payments and the
rntc of exchange in its own hands7 Inw
much better, if the Government had This
power, us he believed they had. ,ha, rI,rv
should exercise it 10 compel the resumption
OF specie payments.
This was the opinion of the cxpcrieuced
gentleman alr. Sergeant who now SO abIv
represents portion Of Philadclphia upon
this floor.
Mr. Chairman, have quoted these an
tl'"ritrS with no other view than 10 show
mat II am mistaken in surprising the col
lection of gold and silver in public dues can
produce no injury, bur, on the contrary. the
most wholesome effect upon all interests in
society, then err with those who are cana
bic Of farming the ciearrst judgments. and
let US not bc too rash in denouncns tha,
winch very sensible men have heretofore
a'ivmatcd shall not quote the sentiments
delivered by John Randolph, who, in NV
opinion, spoke more like il pruphci uuon
if1fss.. psraps,.s n,1's,s ms ' ~ snor
authority No, Sir! tn" clamor raised u cninsr
the collection of public dues in specie savors
full as much OF dcmaooguciSn aH ol sound
patriotism. II can do no in juryiu the banks
who desire, in realty, To have sound paper,
and ." al" business up"n a proper CONNER
ria basis.
!, is undoubtedly the duty of the Federal
Government to furnish Il safe standard eff
value which uOihino can vary. This is
made a tln,v under the power given ..to coin
money, regulate the value thereof. and of
foreign coin;" aud bv the CONSTITUTION de-
,l. tl,,t h.,n
emit BILLS Of credit, or make anv thing hur
gold aud silver coin II tender IN pavmcn,
of dchs.'* This preservation of fixed
standard of value is essential 10 the protec-
tion of property. The Gnvernncni can, at
least. through its COLLECTIONS and ,lisbnrse
lhcn,s, furnish one sound and hcallhful ar
terry, whose pnlSation shall send forth "a
pure circulation into all those veins that run
from the great points of our system. The
great error has beeu in taking il for granted
thar paper credit represented coin. from the
fact thar il was convertible. No bank that
has all the attributes of depUSire, discount
and cirC ulHiiOn, can have paper rcprescu
ting, in fact, coin The irutl, is, thar it can
only have Il credit circulation, which is
vastly beneficial 10 commercial operations
| when confined 10 IL sound basis; hur it is not
money, nor can II, III justice, he II measure
| of value for every mans property. No.
| Sir, Il specie standard is the law Of this
| country AT home. as it is the law of the
world abroad. Aud il is an eternal truth
! that uoihn" hut The precious metals, or cir
culntionrr-tin@ upon them, glider for glider,
| &: dollar for dollar can h,. made money. in
fact, in any nation or any aye. All the
powers Of dcspoiiSrn have in vain been
cxcr,cd upon This point, at different pc
RODS Of the world, aud it has produced no
other effect hmt to compel those who held
the metals secretly IN hoard them. while
fraud, perjury, and Swindling. have become
the lr@alizcd characteristics of Societv.-
Upon these points, | cxuiinclv triumph
in The truth Of my position. aud defy
rriu'aion.
| Mr.. Chairman, it is poor and contracted
defamation To saw. that collections in gol,
and silver would break down the prosperity
Of the country. Aswrll night yon cxpcc,
the waking lion TO be pressed down bv rhc
wei shi Of the morning de ew-drop hanging
upon his manr. Look abroad, aud contcm
plate, for Il ni"'nrnt, the vast power of vou
cotton trade upon commerce.; cast your cy,
upon the thousand sails that annual,
wei, nn The i,n~On "f the ocean frcightct
with .5OO.UnO bales of the richest p,odur,
tlia. the world ever saw: look to the !rcl
valleys Of the far west. uniol.Iin9 the temp
ratim,s of virgin soil. upon which hard,
anl cnicrprising people are developing
the "cSourccs Of new empires! Yes, Sir
look from, the polar regions even down 1
the tropics, and boholh the Missouri an
the Mississippi sweeping through The inh"si
,ancc Of frccmen: and then, Sir, after 70
, have contemplated those mighty prospects
come and talk 10 me, IL 'ou can. of the con
trmptibc idea, thar the collection Of Il f.,