The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1838-08-08
CIRCULAR LETTER OF RICE GARLAND,
To the People Of the third Congrsssi0nai Dishsei ~
fhe Ssaie of Loa,siaaa.

CIRCULAR LETTER OF RICE GARLAND,
To the People Of Ae third coHgrsssiOaal Dssnsei ~
The Stale 81 Lou.siaaa
fcoScLUprpl
In the month af September last. hill Was presented
authorizing the issue Of len millions Of dollars in Tres.
snry notes. In support Of Il, told u was IN
tended a temporary relief the Treasury that the
Government would have ample means to redeem the
notes when they became due and statements were
presented, showing The exhausted condition OF the pub
lie Golfers Besides all this, il knoan there
large amount Of drafts aud claims pressing The Tra
sury, aud that il would take time negotiate
loan. Under these circumstances. and believing as i
then did, that these notes might afford some relief 10
the country embarrassed was, yielded my oblec
tons TO tins kind OF Government currency and voted for
the bill, in opposition to the gcst body 81 my political
friends.
On the 23I Of March last another proposition was
made 10 issue ten millions more Of Treasury notes,
payable at terms OF twelve, eighteen, aud wentyfour
months from date This bill was finally withdrawn, aud
another substituted authorizing the issue Of ten millions
Of dollars under the pIetox Of carrying into effect the
act OF October last il that act had not had It's full
effect when the ten millions Of dollars authorized by 1t
had been issued The reason alleged why that act had
not had its full effect that the notes had been
nearly all returned into the Treasury payment Of dues
to the Government the bill in fact to authorize
the issuing Of ten other millions of dollars, in notes
payable year from date or, in other words, the Co
vernment obliged to do some OF US do OCCASION
ally: notes, and take further delay. Tho
early call for Treasury notes. and the crcumstaB-
ces under which The demand was made, induced me 10
examine the question with psrlicnlarity aud be-
satisfied the power ought not 10 be again granted
The issue OF the ten millions in Ortober last had not
been any substantial relief to the country The notes
principally the hands Of Government officers,
agents. and contractors. from them the brokers' and
through the merchants back into tho Treasury in pay
ment Of duties The importing merchants we're ena-
bled 10 purchase them 81 rather lower premium than
they had 10 give tor specie, aud far they Of
some benefit TO them but they added nothing tho
actual and circulation Of the country. alsob
came convinced that We should not have the of
redeeming the notes when they became due, unless
there should be extraordinary increase in the BUSH
Of the country and its revenues. therefore pre-
ferred contracting loan at once, and paying off in
money the debt the country owed had such infor-
nation as made il certain that loan could be obtained
for ten twenty millions Of dollars rcdeemahle in
three or four years. longer if necessary, bearing
interest Of five per cent per annum, and that pre-
MUM would be given for such stock but il was al
legged that would be creating national debt; as if the
issuing Of notes Of one hundred dollars and upwards
TO the amount Of ten millions each promising on its
face TO be payable in one year. with six per cent In
terest, national debt But the great and para
mount objection that have to these notes is, they
Government currency, and are in my belief, part Of
that Treasury bank scheme which this administration is
striving establish under another The bill was
however, passed by small majority in the House, and
il remains be seen whether or not shall at the
next session he called to authorize renewal Of those
notes or issue others r.
The financial condition Of the country has occupied
much Of the attention Of Congress- and almost entirely
engrossed the minds Of the people. The administra-
ton and the party that supports IT, after having been for
several years past constantly hammerng at the currency
with view, they say, to improve it, have at last
the conclusion they will have nothing more to do
with IT, The doctrines now are. TO use the language Of
the leader Of the party in the Senate TO let The Go.
yernment attend 10 its own business aud let the people
attend TO theirs, and 'let the Government take care
that secures sound currency for its own USE and let
leave all the rest to the States and the people, This
Is language more becoming the prime minister Of des-
polc prince king than the organ Of administration
protesting 10 be democratic. II implies many things.
First that the Government has not heretofore been
attending 10 its own business, but has been interfering
with that of tho people secondly, that it is the
business OF the Government to attend The interests
Of the peoplc, but only 10 take care Sisself and,
lastly that the people ought 10 attend TO Their own BUSH
ness, and interfere with that Of the Government:
and the irresistible conclusion is that the Government
and the people dis,nc, and separate and ought to
remain 80, The measures proposed are, ia my judg-
ment IN accordance with these principles and there
fore object to them NV IDEAS or the character Of this
Government are, that II formed aud onght TO be
administered. for the spdbentft Of the whole peo
pe that what Is lis business is the business Of the peo
pie collectively that TO secure sound currency for
its formation and that, whenever it attempts sppro
pirate that currency for It's use, and excludes the
people, embarrasses them IN It's II Is nsurpaton
Of power aud whenever the Government fails to do all
It can egmaely 10 create and preserve a sound
Iency, il is gross neglect Of It's appropriate duties
But il is not purpose TO go into examination Of
the powers and duties Of the Government, brief his
tory Of what has been done being the oil ect OF this adj
dress. BY the distribution Of public documents and
speeches among YOU, have endeavored to keep you
th..a 49, ia
Executive is based and the motives that govern the OPP
ponents OF the proposed scheme for the saiekeeping
and disbursement OF the public revenue. shall con-
,inue my efforts to keep you properly informed and
that you may see something Of the origin OF the de-
rangemcnt in the finances Of the country, have pro-
cured number of documents, published in the
Of the last years. which will in short time be dis
trbutcd through the district perusa Of them will
enable you to Of the that have brought
on the present state Of things
am not of those who believe that to the late
and present administration belong all the odum Of de-
ranging the currency and bringing distress upon the
country but do believe their acts and blunders have
contributed largely to II. could, IL necessary, refer
to their actions and the public records To prove it, The
banks have contributed their share the Legislatures of
the States, by the ndiscrmnate use of their power
grant charters, have been to blame and many citizens
Of the different States not exempt from responsible
ty. What complain Of is, that when oil they have
gone wrong and the legislatures, the people, and the
banks DESTROYS OF getting back into the right road
the President and his supporters not only refuse to
operate with them, but take up financial scheme here
ofore cpudiaed by themselves, press lis adoption in
defiance Of the wishes Of the people, and presumptu-
ously declare il that is not adopted. other plan shall
be which scheme in itself destructive Of the great
interests Of the nation, or at any rate calculated to in
iure them essentially.
The idea Of subtrcasury, or Fan independent trca
sury, or whatever else il may be called, is not new
II is perfectly familiar to those who were in Con-
gress, observers Of its proceedings in ls3i-5 II
then suggested, discussed, acted on aud rejected
by the House Of Representatives lfany OF you should