Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-08-16

nary NttlN transactions oil llts anu NI''it w
sis Tor paper will always ensure us confeftihllfs
into specie when required BY the holders. IS what Is
commended for. and such Is he only tendency and
real design Of the measure proposed, Tar rs the
banks are concerned. purely metallic currency
is no part of the Independent Treasury plap rs pro.
posed Nv the Administration. aud supported bs rs
friends In GBe, with the exception al very small
number, who arc IN taYor Of deprslting The public
money specially IN banks The question At ISSUE be
tween rs. and those who .a,ar a 1epositc III the
banks, may be stated thus: Tiny 1eiai 70 hdre The
ysb3c money dcPosffe n bunks not 10 be kept By
Them, bmio bcicHt out tor priratt u5es. ", arr oi-
posed 70 tHdin on The public moneg FIR pirate asfs
and cBcctVadY 70 Jysrsat A. m tarof II hartnR n
sept by 7sthe e1ierrs Hsasf heary boads dnd seca-
ties r0t 70 use a. or sbs n 10 b. used r any pirate
fosc 'rFdtocr(r, aud 10 pay II out only IA inisn
,ncc Of appropriations made by law, As prescribed IN
the Constitution.
We do not rhluk that 10 furnish ilie banks with
money to lend, to accommodate the customers oil
banks with the USE 81 the public money OF property,
Is one Of the purposes Tor wuoh the ppwei 10 lay dn-
ties and taxes was delegated 10 the Congress ol the
United States.
On the contrary. We look upon the employment
Of it, knowingly aud deliberately Tor such purpose,
OF where such rs known To br The natural aud ne
ccsS1ry result, - abuse oil the most aggravated
character II - taking one mans property aud de
vrIug It over 10 another under aise prctenccs, and
may be denounced, tnot as eveillog operation butt
As an cNcicis" oi arbitrary power, wrestling money
ana property nom ihose 10 "n'h !. p''""E ''' ''
use 81 i"oN' l" ""o'' II oees ho' pf'oo2, ~ ~
pose lhi7 plachee, as one oi hlusilee. w ale III
IN"I "l o""'''hG ohS is i'heh ''3H'9 '''" w
people as may be necessary tor public purposes,
leaving the rest 10 be used by those 10 whom II
belongs. We are not tie enemies oil the banks,
bur We are not so much tieh lilfh's - 10 'ahe mo
ncy out Of pockets al ouI constituents and deposIie
II WIN lhcIh !" sven lh' active ''lh' ''' ~ ''"s'
their pIohs. Let l1thi be content Is eFe'N tiones'
man oughtio bc,"hh using that "neh properly DC
longs to them
We look upon the Withdrawal oil Tue Paphe ue
poNHrs from the banks is H. lsnfe pehele'a 10 ''
banks themselves ana calhi''en 10 lioho' s''p,''
" IN the business aud currency q tle county. 30
long ~ the pubic moneys are iaaae Tue o's's ~
bank issues, they will necessarily produce nuetna-
tons IN credit aud currency. rs ihe deposte ac-
cunulhcs, bank loans ana DAM noi's increase III
number ~ Il amount - lie deloshe al''hh'Sh's'
bank accommodations are cutaued anu INC '''u
l,ton Is tcTcnchcd No rejecting man can duubi
that the immense surplus IN the Treasury two years
ago, beng all lent out by Tie banks was one cause
OF the uvcftAding aud speculation "hleh enoeo III
general suspension oi specie payments o"gh' inc
banks to dcsuc the continuance oil 4 temptation
which experience has shownlhey have mol the INN
noss to resist Ought the people 10 permit ie.
turn TO- or continuance oil. system which not only
takes from them portion Of their property iof tile
use of the banks aud then customers, but TENDS 10
render the rest unstable and insecure. by unsetlng
the standard Of value taushng the CON oi the coun=
nv from circulation. aud delugng the land with
,ucdccmabc, aud, To u great extent, fraudulent
manor ,u,rcuryl To avoid these evils We must Re
nave then causes. One nj he mnsi potent Is the
usc Of the public money lof private purposes By
put;oo , ,,oo to thai mSehcf and administering
H. u, 49,, Dcu,,t,n,nt wholly independent al the
Ll ,I ,5,ol liz Ifnir, States will have