Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-04-07
To THE PEOPLE OF LOUISA


decided in the aFirmntve-Ayes lOl, noes To-
TO THE PEOPLE OF LOUISA.
Fellow. CITIZENS Having been honored with your
confidence TO represent you IN the Legislature OF i
pina il is with heart overlooking with gratitude hat
take my pen in hand TO you my thanks Tor this
distinguished favor well as 10 make II known 10 you
that again candidate for your suhrages' IL mas
been of much consolation TO learn from various
parts Of the county, that my has been generally
apvroyed To have clear conscience that have sus.
tanned to the best of my ability the interest OF the great
body Of the people, and to know that my acts and mo:
lives approved BY you, are the only rewards that
have desired.
# has always been with delight that have mingled
with and ntechanged my opinions with you, upon all
subjects interesting to our common country: II has al
ways been done freely and canddy, with no other mo-
tive than The public good; and rs with uniegned plea
sure that make known my sentiments on subjects OF
paramount Importance to the country My opinions
concerning the powers granted by the Federal Consttu.
ton the different departments of the Government,
have been made known to you other OCCASIONS they
have undergone change The subject of an 'lnde
ppnde Mt Treasury, II is usually called the Sub
Treasury Scheme, Of vital Importance TO all, be-
relates to The currency OF the countryside very
life blood Of the Republication on safe and sound cur
rency the honor and glory Of country materially de.
pend A subject of 50 much magnitude must engage
the attention Of every patriot Who will not see that
national disgrace must fall unless monetary
system Is re formed If you claim tue right of self.g
pprnInent,
country is yours lis destinies with you yet it
does not belong Banks corporations but should
you part with this nestmable right those institutions
ready to grasp it, you then with bitterness mgh,ex
claim. Liberty has been but a dream.
In the month of May last the Banks throughout the
United States with few ptiOns refused TO pay their
notes in specie thus by their own acts theywere dvorc.
ed from the Government Of the United States as fiscal
AGENTS. The Banks, to enormous amount had issued
more paper they could pay for in cash. general
scene Of confusion ensued the President of the United
States issued his proclamation calling Congress together
the manly and decisive Of his Message, was nd
nired by ALL and has entitled him 10 the lasting conf
dence Of his countrymen. He showed cnnclusively,
that the great thirst for by individuals as well
as companies, stimulated by over issues and overtrad
ing BY the Banks, brought on the arrangement in the
currency Tha, this alliance between the Government
and Bank should have never existed; that reunion
would be as odiOus Church aud State, and that the
Government, like individuals, ought 10 have the man
ugement and control of its funds; and although 1t
may be expedien to collect and pay all the money
Of the Government in specie, for the present. yet the
necessity Of gradually arriving al that point is apparent
Before the formation Of the present Constitution OF the
United States while the States held together by
league the duties Foreign merchandise were collect.
ed BY State authority, which then paid IN gold and
silver When the present Constitution went into ope-
ration it then the law Of the land, and probably
would have been this day but for the nsldOus po
licy Of Alexander Hamilton, who was Secretary of the
Treasury and permitted the law to be evaded by rcceiv
ing bank paper The first Bank that was chartered
in The year 1871, the Bank Of North America and up
10 The year l79I the whole Of the Banking capital in
the u S. amounted to little over two millions of dol
lars From about this time the trade Of Virginia began
10 decline From 1855 TO 1871, her impcrta,ions
ragged annually about three millions of dollars; her
merce at that day Aourishing, that il is said up
wards of fifty vessels sailed from her ports in day.
carving the productions of The soil to other cimes
bringing in return such articles rs the wants of the
country required The balance in the legal currency of
the world. At this time, our inporalions do not
coed more than three hundred thousand dollars whilst
expectations from this State between six and
ven millions of dollars. When this great decline
in commerce. would it not be well to inquire into The
causes; The concentration Of the banking capital in
section, will have bliehtng influence the other
tions Of the country In the year 1888 the duties paid
and collected merchandise in two Of the Northern
States alone amounted to seventeen Millions whilst
in Virginia and South Carolina they only amounted 10
FIVE hundred thousand dollars. Bear in mind this
ney deposited in Bank, and used freely by those in
stlu,ions in the way of loans and discounts II appears
for the last twenty years the expectations from the u
S. amounted between fifty and sixty millions of dol
lars annually. Of this amount about forty millions
the productions Of the South and West II is then ev.
dent that have The elements of wealth and power
within borders. If act wisely, will keep
own money and not suffer its concentration in the hands
of corporate monopoes From the lessons of the past
let Us profit for the future. From The estimates not to
be misunderstood, the inequality is manifest.
In Government like ours, where the Constitution is
based the principles Of justice its buunties, like the
dews Of Heaven should be dispensed ALI its favors
to none. 1t has been urged objection TO the di.
yorce Of Bank and State that the money will be unsafe
in the hands Of individuals. Judging from the past
would come 10 the opposite conclusion From very
able report made by the Committee Of Ways and Means
10 the present Congress Of the United States after RI
gid examination made by them, they say, "But have
Al least ascernned that in seventeen years Of peace and
p,ospertv and during the existence ola National Bank
we have lost by this connection with Banks than
the amount of all losses by collectors and receivers
in forty nine years. though The former he Banks) were
ins,rused with about three hundred and fifty millions
ony and the latter (ndvduals with 81 053 900 000:'
making great difference in favor OF individuals Dur.
inc this time the security required Of individuals
sigbt in comparison additional guards that will
be REQUIRED for the faithful disposition of the public funds
Under the old system Of collection the custom house Of
6cers were paid and the Banks paid themselves liberal
" By the use of the public funds they paid two agents
when was su'fcIent
The Constitution Of the United States says that all
duties imports and excises shall be uniform throughout
the United States; hence the proprety Of having uni
form currency without this uniformity you will at
once the injustice. For instance one dollar of silver
will only pay much duty paper dollar, when at
the same time the paper dollar might be worth only fifty
cents; hence a man in New York or Boston, who paid
his duties in paper that had deprecated fifty per cent
would have only to pay half much who lived
in Richmond Charleston, who paid his duties in spe
Gle or lis equivalent Inequalities Of this kind doubt
caused Mr. Madison in his Message in 1915. 10 the
following language alt is, however, essential every
Modification of the finances, that the benefits of uni
form national currency should be restored 10 the
muntv The absence Of the precious metals will il is
believed be temporary evil but until it again be
rendered the general medium of exchange it devolves