Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1838-08-30
F!H NJ u. y. y W NI.S
Gen. Gro. McDurrlr.
EHERRY-ilILL. july 2Jth. 1879.

My Dear rS;Sir.-I have received your fricul-
>iy letter, Expressing Il desire to know NV
OPINION o4 the question which row asila,"s
the county, relative to the custody Of the
public InUpay Of the United States. and the
rcs'u!atioHspt the general crrr"n". .,".i "-
changes. YsAs never had ,'t,ya. ci q,
ION whicfli was unwillin4 - !...r.aa.
have no Hesitation in aus, S~sn. ..... 81
q".''es h2X3sa 3ajo1|s::!Al,rI ?Gj1sG|i'aA vzr ,....
Opinions have prevailed in ,tjtcrtia
ters. owing l presume 10 'hrtaat ta- a..
not concur entirely with ,ri,"r OF ..
litical parties. recently organized upon tho
n;;siS OF these questions. 1t is deeply 10 hc
regretted. indeed, that these questions have
bccn made The t'undaiOn Of Il political or
@aniHatlon ofihc great political parties CON
tending Tor the Presidency, ihoueI. admin
that this result could scarcely be avolcJ.-
S"ch an organization Is exceedingly unrro.
riiious to the cause oftrn,I,. and almost en-
iirriy prec'Ud"s the possibility Of .iscrim
mating Judgement. You must ,;,kr ,h
whole or rcicc, the whole by The prnc,iral
canons at party discipline. \ most unl.,r-
innaIc change has been the CONSEQUENCE in
Tic whole subject of Banking. x ii The con
ncXion Of the Government with he HauLs.
\ on are no dnubr aware that. during all Tho
struggles o.! the late Bank of the L. Statc.
against the warfare urged agai.,s, il BIZ the
icurrai Executive. ! steadily sustained Tim,
institution on the grounds both of lis rxico
sivc usefulness and il, Observation-Disclosures. &
will add that there is no part of NV pub.
lic lic 10 which took back with mere sal,
I>iar'ion than to his. | sill believe Il Baul,
ol Tie United States to be constitutional. and
an us confident lis reason and experience
can make NC on any similar question, tla,
! II Is The best praciicahl' means ofmaiuIaiu-
Ins' ii uniform currency. and IL low aud uni-
form rate %! exchanges over the whole t.
S'aics' SO long rs paper money constitutes
Inc larger potion al orr actual currency
Elii am constrained to say that in the
| extraordinary dis junction * conjunction of
| political parties which have recently taken
| place, ! am left almost rs SOLITARY and
alone, on tho subject Of Il Bank Of The
tnlicd States. as MIR. Denton wa, when ne
put his celebrated ball in motion. alway,
supported such an institution as an aniacn-
iIist power 10 the State i.anhS, and "A, a
means oi restraining ihcirrXIri, i.ant issues
its nii''ty consists almost entirely. ia my
| opIDi0n. IN the exercise of tins salutarv con
! tr"l over suchSlatr Banks rs were inclined to
| run INTO cXccssc>. Such were then the 0n;n-
! 'o'' W. '''''' vi " "lDtll slt'lcl. biIt now
| the S'alc OF opinions is entirely changed, rs
well as the relations of the Bank The
| present advocates of Il Bank of the United
states maintain practically if not in terms
that as Bank credit is the most potrn, of all
the agents for producing wealth the more
we have OF it the better: aud they seem Ia
regard him rs an oldrashioncd political C.
economist who should donht that The issue ol
every additional hundred millions of Eanl;
paper added just that much wealth to the
country. In Fact the party now urging III,
establishment of a Bank Of the t. States
are the open ap"logislS and advocates olrhc
pet bahk system, which they coucurrr#
with me i'll dcnnumcng. as a most fearful
and Finpendons system of corruption and %
despotlc power in the hands of The fedora
executive. ] was perfectly sincere when
SAID That II would he easier TO resist n Prcs
dent at the head Of 10000 REGULAR troops
than one who welded such copiadcrac,
of Banks. Yet after this system has n,tcrl,
failed, those who denounced it when it wa
mere experiment., have now adopted i
hs a stepping stone to q Bank of the Unite,
States with capital of O,0OG,O 900, to b.