Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-11-15

ready set the Government at defiance ,,1
though forced 10 yield little on the frs,
essay of its strength, their PRINCIPLES nre
unyIelded and unyielding. They have
taxed deep root in the hearts of iha, cI,ss
from winch our Legislators are drawn. and
The sop 10 Ccrberus. from fable has become
history. Their principles take hold of ,he
Sood, Their prli oil the bad, and thus. those
whon' tie Constitution has placed as gua,ds
10 its portals, are sophisticated or sulnrueL
from 'hcir duties. That paper money has
some advantages must be udmIttcd: but its
aouses arc also inVeierate; and that it. hy
breaking up the measure ot value, makes
q ioucry oi private property, cannot be
"eh'eu. snail we ever be able to put IL
constitutional veto upon it,"
:, "ihc free industry OF the people, if sur-
'e'c" oy 'hc government TO operate fairly
upon 'te commercial world, will rap,,IIy
supply us with Il better currency than The
involving, hnctuaiing, couutericitily cur
rcncy oi corporations. fhanks can nav
their debts, we have IL sufficient specie cur
rency on hand. lfthry cannot, their cred
IL ouSht to cease. john Taylor Of Caro-
line.
Extract from Gen. Washinglon's letter
10 Mr.. Stone:
~ d" not scruplc TO declare that if had
voice IN Your Legislature (MarvlnndD
II would have been decidedly against !:
paper '"ii>>ioli, upon the general principle
oi Its Inutlily as IL representation of com
or 'he necessity lor II, Us Il (crcuialns )mr-
dunn"
ihcrc can now no l"n-c he any Necessity for
the establishment oi IL .latlo,.ai Bank. To r..u
ia'c the currency. If such Il necessity ever en-
i+'rd, ii exists no longer. We extract The fol-
'ow,n" from Il New York paper:
From Mc N''o H"r f,prcSs. sd inst.
iHE United STArEs BANK We
doubt very much whether The establish
neh' Oh il .\alonal Bank will he brought
~, war" again tor ma y years TO come -
ne United states Bank has now got
.oo' hnid IN tins city an' in Il manner that
IS 'k'iy l" lir permanent. 1t is establish
{" under IL law "i our State, which, il is
S'''u' u altered or repealed, cannot af-
icct The banking Institutions which have.
oscn or may bc organized under it: and
II tiis is corrcci, we cannot sec why the
chartcr Is not perpetual. The Bank is
now IN successful operation in This civ
Us we'll as Phlla,lcphia: il, br,ucIcs :,r,.
established in New Orleans and dCiuciur,,ri.
and variou, orhcr large places, As SOM
as lilc local banks in Alabama. Louisiana
and Mississippi resume specie rayrncnts.
us thcy un1urstiOnably will in The course
OF il few months, there is no reason whv
I'M, t;Ink may not deal in domestic ex.
clia''S"S extensively. and at as low r,,.s
Il, formerly. We have it from such nu.
IIuTIE rs fir,,,I, a.
great bulk oriiIrir operations herewith ron.
sisii dI>cOumlnn this dcScriu,iou of n,n.,r
lhe other iarse banks recently com,neuc
cd IN tins city under the present law, and
.he great charters granted in South Caro-
lima Tennessee and Mi,sis,ippi. will I,.-
Joh" all question, soon he in opcr;,lio,,.-
Most ot them have established = crc,,;, j.,
Europe tina: will allord :hcm, the facili,ics
they require. These banks will find il fur
lhcir interest also 10 deal in domestic ex-
changes; NIL which will crcaie q rivaIrv
ana competition that will keep down the
rate ol Internal exchanges to poiu
cqni'aich' to the transportation of specie
II inc rate OF exchange should rule ON
all parts ot the Cnitcd States at or abom
one per cent, as VIC think it " i'll, the nc>l
"eIcct VIII he To have description of
""hk notes that will he received ihrouoh
"u' 'ie United STATES AT par or "a fraction
"i"ei. IL 'liiS can hc effected. there will
"c u" need OF II NaIon;! Bank.
we are Informed that as soon os ,h,.
oa'i"| III The South l.. We resumed spcc,.
payments, II 1, the intru,iun of the nrcscn,
onlica States Bank to issue il dcsrrip,io,
III h'hh notes that hall be- generally cur
rem! throughout the country. am! thai ,bcy
M'' 90 Tins by making them pnyah,, H.
Nc" "rh. Pniladclphia, Baltimore. Eos-
'o"' CIncinnaIi, New Orleans ana p.r.
'iaPS other places. Bank NOES with ,h,
advantage OF redemption al vuriou, poiu,,
ana based upon the well known crc,l;, AMI
>"'Nchcy "i III" United Sra.cS Bank. wou,d
without question hc received every "a her.
and M w""id enjoy pcv!cct contiilcncc.-
The travelling community wcula bc nc.
c"ihin"daicd, and every individual wi,hinr
l" H"nsinu Il hundred dollar bill from on,.
chd "i me country 10 the other could H.,
80 WIN perfect security and without loss.
i"c convenience {" the public wonld b..
very great, and the aL,anta".. To The h;,ni
Immense, iis such notes would cuoy :, dir
rnlat'on pro"ably greater than nj apv ne.
riou since ITS establishment under ,hc n,,,
charter No bank is so well situated !,
dFh;i Itself "i thi, valuable circuIa,inu ;,s
i