Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1838-03-22

J have nc: vet exhausted my COAST,
tutionsl oeject,cas. rise to higher and
10 broader. spplytog directly to the We
ny essence OF. this substitute. dens
your right to make . general dsposits
Ct the pub,ie revenue Ia bsnk. More
than half Of the errors Of life may be
srsced TO fallaciss originating in an i'm
proper ute Of wofds and among NOT
the observation-disclosures is the sppleai
Of this word 10 bank transactions. ia q
sense wholly different from lie ongina.
meaning. Originally it meant thing
placed IN trust. or pledged 10 be safely
and sserediy kept till returned 10 the
depositor. without being used by the
depository, wilhelm his possession. ALI
this. is changed when applied TO de-
positc IN bank. Instead Of returning
the identical thing, the bank Is Under
stood to be bound TO return only an
equal value; and instead of not having
the use. il is understood 10 have the
right 10 loan il out or interest, or 10 dis
pose Of il as i pleases, with the single
thai m equal amount be re-
turned. when demsnded. which cxpe-
renee has taught "a not always done
To p.rce, thea. tae public money in
deposite. in bank. without restriction,
10 20 give the free rss Of il, and 10 al
low them 10 make a., much a. they can
out Of il. between the time Of deposi.e
and disbursement. Have we such a
rightl The money belongs TO the peo-
ple-collecled from them for specific
purposes--in which they haze s gene
raj intsrea-and for that only; snd
what. possible right can we have to give
such use Of Il 70 certain selected Cor
poraiionsi AJAX Cor the provision Of
the eons:ituilon that suthorlses it,. /
ask. II we could grant the use, for sim
ilat purposes. 10 private associauons or
indiyiduNsl Or il not 70 them, to in /.
disiduai officers Of the government;
for instanee. to The four principal re.
ceivers under this bill. should Il psss !,
And if this cannot be done. that the
be pointcd. out.
IL these questions be satisfactorily
'hsll PROFOUND others Itili
more difficult. shall then AJAX IL tie
substitute should become law. and
the twenty-five bsnks be selected, " he
ther they would NOT IN fact be the tres
suryl- .Andjf not. / would ask, where
would be the treasury But II The
treasury. would ask. II public money
in bank would not be N che treasury
And IL 90. how can il be drawn from i,
TO be lent for The purpose Of trade, sree-
ulstion, Of any other pse NhateyeS, -
gainst an express provision Of the con.
stituiionl Yes. - express e. words
can make it, i esd the Secretary %
read the fst article. 9th section, and the
claose next. 10 the last;
'No money shall be drawn from the
+" treasury. but in consequence Of sp;
/" preparations made BY lac /; and re-
" gular statement snd account Of the
".reeeipts and expenditures Of al pub.
" lie money shsli be published from
" time 10 time"
How clearl How explicit No mo-
ney TO be drawn from the trrasuFy. but
IN oonsequeneeof appropriations made
by Law that Is. the object on which
the expenditure is 10 DO made, 70 be De.
ieDated bylaw. and the sum ALLOTTED
TO .eifectit. specified; and yet we hsrC
lived in The daily and hsbitual violation
of this great fundamental peovisies
from almost the beginning Of oup pc.
.litiesl existence TO this day. BeholS
1he eonssquenecsi II has pfOstrsleG
and.engulled the very Institutions tbs
have enjoyed this illicit favor, and
taiHte1, above aH other causes, the mo,
'rals. and politics OF the whole country
Yea, to tbs n. ust be traced, - one o.
the main causes. the whole sy stem Of en-
'cessiye rpvenue, excessive expenditure
and exeessive Sorplvses; and 20 them. es
-peeially the last. che disastrous over
throw Of the banks and The currency
and the upexsmpled degensrsey o
public snd private moTai,. which hAV,
followed. We have suffered The attic
ion: may the blessing, which follow
chastisegent, when ls justice is con
fessed. come. In due season.
But take = s,ill higher ground.
strike ri the Toot,oi The mischief de
~ the Tiehiof ibis government Ia tres
bank notes as noDsy in tie 6scai opera
ions. % this great question. ] neye
bare before committed rnyself, ihoagi
not generally. disposed 10 Sustain froU
forming o. expressing opinions. in Al
Instances ~ which q naiionsi bank Ne
come IN qhestion. Ibsve invariably Ia
ken ny ground, that if The eoTegDmeh
hiss the right TO receive snd'ireal bsnl
notes e. mopey, II bad The hight, en-,
gAs bound. under the consiiig:ion, Z,
reaalaie them 90 ~ 10 make them mi
foTua tnd stable ~ . currency. TIT
reasons Dor this opinion are obvious
and have been % oflsn and fully en-
pJessed 90 former occasions. that :
Wosld Be useless 70 Fepsst them nov
b.. ] never tEafninsd fully tie right o
FeceisihR, % made Up my mind on il
tiil SINCE tbs easasgfophe in May lest
which. 81 J haze ssid entirely separa
ted The gpFeFumsnt from The bsnks.--
Previous 70 that PERIOD. Il vas en- a.
stFsct quesiion. wiih 20 pFtcneai bsaf
ing a. much toas is now The c0nsiitu
fftrmaf sf~tf - ~4r~ ffff~e. ~sst.ts@s "a