Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-03-26

ahu puosied N the time the charge Of the Senator
must IN the opnion of all, however prejudiccd, suk
I" the ground. am nav prepared to Introduce, aud
have The record read delivered two speeches IN
the session Of 1s33-3i.--onc on the removal OF
the dcposlies, and the other on the quc st,on
OF the renewal Of the charter ol the late bank. !
ASK Tie secretary 10 tuin To the volume yinr before
hun, aud read the ,hrec paragraphs marked IN m,
speech ON the dcposites. will thank hun To raise
his voice aud read SLOWLY that he NAV be distinct,
heard, aud mus ash you, Senators, 10 give yonr
tcn'c hearing, for on the coincidence between my
p'nons then and my course now my yndica llon a
gains tins unprov aud prounllrss charge rests
=" II tsald Mr. e. this was question of bank no
bank; II II involved the existence Of the Banking
system, II would indeed he a great Queston--one OF
the first magnitude aud. with n, present impress
sion. long entertained, aud dal, increasing, would
hesitate. long hesitate before would be found under
the banner oi the system. have great doubts (d
doubts tlir, be called A. 10 the soundnes, X ten.
dcncs ot the whole system, IN all its notifications
| lave great fear that II will be found hostile bci-
~ in our country, where the system exists III its
worst aud most dangerous form ofall utst,intions
all eing tie great question oi the distribution oi
wealth ; question least ,>plored, aud the most
poIant Of any IN the whole range of political econ
omy The banking institution has. not The greatest,
a'non. the greatest, and fear most pcrnciots.
flucncc gu the mode OF distribution. Mere the qncs-
non really before would not shun The response
hlIit,, great IT might be, ot freely and fully offer
lng my sentiments on these deepl, important points
marks which have thrown out.
w hat, then, is the real question which asi-
taies the county answer, II struggle between
the executive aud LEGISLATIVE departments oi die Gov
eminent Struggle, no, IN relation IL the existence
OF the bank, but which, Congress the P,esdcnf,
should have the power 10 create bank. aud the con.
scqurn control over the currency OF the county.
Tins Is the real question:. Let rs not deceive our
selves. THIS league, thus association ot banks,
ted by the Executive, bound together by lis inlu
nIii "A Il
ed aud sustained by receiving the dcpnsItcs of the
public moue,, and having then notes converted, by
beng received ever. whore by tie Treasury, into
the common curicnc, oi the country, 10 all misuts
aud purposes. Bank oithc United States, the IA,
ut,c Bank Of The | nitcL States, 10 distinguished
lrom HAT Congress.
llo"cfcr II might ftil 10 pelorm satisfactorily
The useful functions of the Bank Of the lued States
Incorporated by law, II would ontsip II, Tar out
sup II, III all lis dangerous qualities, IN extending
the power the influence and the corruption Of the
Government. 1t MAS Impossible Ia conceive any in
statiou more admiiab, caculatsd to advance these
ol Iects Not only tie selected banks but liza Whole
banking institutions of the county, and with Them
the enlIre money power, Tor the purpose al sprou.
lation aud corruption, would be placed under the
control OF the Executive. system OF mcuacrs
and promises will be Established OF menace To the
banks possession oI the deposites, bui which might
not be entirely subscrytcnt 10 Executive views and
OF promise toi future ivors 10 those WHO may not
would be left without influence. honor, or honesty
aud stsrm of speculation and stock jobbm. would
commence, unequalled IN the nails OF onr coun-
ry
$50 long as the question is one between Bauh
ofhc United States, incorporated by Congress and
that stem OF banks which III, been trcated bv the
viii of the Executive, il, Is insult to the nndcrs
ding to discourse on tlepcrncious tendency and un
constituiionalIiy of the Bank oi the United States.
Totrng up that question tt'rly and leci'ma'cly,
You uust eaone Step iarthcr-yon must drorce the
toyernmcn; aod the banku. system. \ "u must re-
fuse all conuex ionwnh bauks You nlustneitherte-
ceivc pay away bank notes ,on must 60 back
the old system oi the strong box, aud oi gold and
silver. II Won have night 10 receive bank notes al
ALTO treat them money by receiving them IN
your dues, OF paving them away 10 creditors You
lave right To create bank. Whatever the Gov
rrumrnt receives and treatsa rs money, u money and
il IL be money, then thc, have The right ,nder the
Constiral,pu. 10 regulate IL. Nay the. arr bound 10y
"A high oil CATION 10 adopt the most efficient msans,
according To the nature al that winch they have re-
cognlsed Us money give it the utmost stability
and uniformly OF value. Aud II II be III the shape oi
bank notes the most efficient means oi giving these
qualities is a Bank OF the United Stacs, incorporated
by Congress. Unless you give the highest practical
uniformity the value OF haAk nottsso long ~ You
receive them ,our dues, ADD treat them money,
you violate that rroyIs o the Constitution which
provides that tlXatIon shall be uniform throughout
the United States. There Is no nhcr alternative.
repeat. YOU must drorcc the Government cnrnc'y
from HE banking system, or, II not, YOU are hound
to incorporate bank the ony safe aud rhcIept
mta rs OF giving stability and uniformity 10 the cur
reucy. And should the 'lepoSltcs mol be restored,
and the present ecal and unconslitu Ional conneN-
nex,pu between the Executive ard the league oi
banks CONTINUE, shall feel duiy, # no else
moves, To Introduce measure 10 prohibit Govern
menl from receiving OF touching bank notes III any
shape whatever, rs the only means left Of giving
safety aud stability to the currency aud SAVING the
country from corruption and rum.
Such were my sentiments, delivered tour years
since on The question ui the removal OF the dcpo-
sites, now standing record aud now call ,"ui
attention, Senators, while they are fresh IN youi
minds. and before other extracts are read, 10 the o.
pinions then entertained aud expressed, IN order
that may compare thcl with Hose th7t have eA
pressed. ava the course have pursued IN the pre-
sent Occ tslon. In The frs, place, then expressed
self plcitly and decidedly AGAINST the banking
system, and animated, III language too sn"ng ~ be
mistaken, that, II The question was then bank or no
bank, II is, as lar Government Is concern
ed, would not be found the side OF the bank
Now, ask ! appeal to the caudo, OF all, even the
most prcdJuiccd, there any ding m all Tins con
Trajectory 10 my present opinions or course "
the contrary, having entertained aud ehpiested these
opinions, could III tins tnr, when tho issue then
supposeds. actually presented, have gone against
the separation without gross Inconsistency Agdhl
then declared myself to be utterly opposed TO com
bnaIon league OF State banks, as BEN, the most
Inefficient and corrupting fiscal agent the hoVtrn
meut could select and more objectionable than
Bank of he United States. AGAIN appeal. IS there
a sentiment on Il word IN all hs contradictory to
what have said Oh done the present occasion
So far otherwise is there pc iect harmony AMI
come ideuce tlr hou which considering the dts
lance OF time aud the difference OF the occasion, IS
iynlv rcmarL able and tins excluding to all the treat