The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1838-03-23

tablish inspection under ITS own CLiccfs IN ofdtF
10 determine the quality, and Whatever else might
btInrce>sdry to make the payments into the Tres
sur, Uniform. 81 likewise, II he still greater sia
u,e cotton, be selected. The weigh, OF the bale,
the quality OF the cotton, aud lis Inspection, would
al necessarily tall under 'lie control Of The &C.
vernnicni; and does not the Senator see that The
exercise OF power that must lead 10 sneh eoAse-
euences--- consequences 81 tar beyond the sphere
assigned 10 Ibis Government hy the Constitution
must Be- unconstitutional Nor does the obltc.
ton extend only to these and other staple articles.
Ii applies with equal. il not greater force, TO re-
ceying ibe notes OF State banks. proposed by
The Substitute. in the dues OF Tie Government and
the management, o. It's fiscal concerns. Ii musl
involve the Government in the NECESSITY Of con
trolling and regulating State banks, as this subs'i
iule abundsnlly proves, as well as tie whole his
tory OF our connection with them aud II has been
shown thai banks are, al least, tar removed from
the control Of tins Government as the euitlyaloTs
OF the SOIL OF any other class OF citizens. To this
| might add another objection. not less strong,
that ioI the Government TO receive and treat bank
nales money IN lis cues, would BE- 10 direct con-
hiet, in its effect, with the important power, con
tered expressly on Congress, OF comm. money
and regulating the value thereof but as this al
come IN With mere proprleiy IN answer 10 an az
gument advanced by lie Senator from Massaeha
sets, M. Webster | shall nov state his argu-
meu;, and RELY to II.
tie asserted again and again, both Eos n'd d.
the extra session, tia, il is The duty Of the Govern
nent no, only to regulate, but to furnish, sound
currency. Indeed, IT Is the principal afgument
relied on by the Senator IN opposition TO The bill,
which he SAYS abandons tins great duty. Now, u
by currency be meant gold aud silver coins, there
viii be but iitlis difference between han and my
self. tt dat extent The Government has clear
and unqueslionable right by express grant; but II
he gors farther, and ln,sds 10 asscr, that the Co
yrrnuitnt has the righl TO make bank NOTES u cur
rency, which il j. bound 10 regulate, then his pro-
position Identical Ia tiac,, though differently
expressed, with that OF the Senator from Virginia,
lNr. Rtyes,l and oil She arguments have urged
agalns, IT are equally applicable 10 his. holi,
IN ny part, that The power Of the Government Oh
this subec, IS limited to coming motley and rcgu.
ia'ing IL value. and PuRish,ng the CONTRIBUTING
Of tue current coins that Is, OF the COINS made
current BY law, the only money known TO the
Constitution. II is time TO make a distinction Be.
t@een money, or currency, # yeu plrass--beiseCn
that which all lcgalls pay debts, and mere eifeu
iaiou, which has ITS value irop its promise 10 be
paid in the former aud under which classification,
bank notes, as well bills OF pfomlssory Ice OF
individuals, fall. These are all III their nature pri.
waite and Local, and eannoi b. elevated is The level
OF currency or money the fiscal transactions OF
Goscrnmcnt. WiIhout coming into conflict, more
% !tss Sh the object Of the Const utlpn 10 vest
ing the very power IN Coz. rrss y hich shall nos
proceed 10 Shaw.
!, all hardly be Questioned, that the ohJfci "a.
20 fix standard N order to furnish 10 tbs UHlOa
a currency OF uniturm and steady value. ard was
therefore united IN tbs ssins e@Blsnce Nth he
Iause power 10 Tx the standard OF weights aud
measur,s-the objects being sItnIlAr. NoA, II ou
experience has proved say thing, il has amply
shoa u that 80 long a. he Government 8 connect.
I'D s!th The banks, ard their notes received IN ts
trausac,4Gs as money, 80 long It Is impossible To-
give sny thing ike stability 70 the standard 0l
value and that The power Of coming aud rex ulai
+ ing the coins, becomes, 10 great measure, a
mere nulIiy Every dull4- issued In bank notes,
hcn u IS made substitute ior money, dawes out
oi circulation less Of the precious metals
ard when the issue becomes eEorbilani, gold and
silver almost entirely disappears, as eur eIprri.
cncc at this time proves. The effects ara sns.o
gons 70 a'oying or clipping the coin. far sta.
bllIiy Of standard concerned aud It would b mel
less rational 10 suppose, that such a poser on the
part Of ,ndiyIdnsl, would be consistent ai,h uni.
cclgiuL and iteatag bank uotes a substitute tor
moneY b. the Government Eould 30. The snly
check Or remedy is TO restrict thcm TO ,htn prop.
CT sphcrc-to circulate in common with bills OF
exchange % other private aud local paper. tot the
convenience 81 business and trade. - IA, ftom
such course operating l0Juriously Oh she people.
or from teing liable To ,ht charge OF forming OCT
carfency ior the people, and another to- the
Government. as ha. been % ssten and With such
edeei repeated-ii l. The very reverse. Govern.
ment By refusing 10 receive BANK notes, as il i
bound 10 Do, would ID GCl furnish checs 10
The people, to take either money or notes at their
pleasure. The demand of The G0ycrnncn, will
always keep plentiful supply Of the former 10
tho cauutry 70 afford the people choice,
while The opposite would eGpe the money, and
leave no option 10 them bat to take bank notes OF
worse, as al present.
To be continued.
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