Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1838-04-19

, with III ~ Necessary attendants Of restr,eti,t,
heed no longer Do c0ptiputd. TO that inquiry
I nov proceed And
j !. What were The esuses Of the suspension
They we're the Specie Circular, which for
babe the receipt cf any thing tot gold ~ SIT
yer 81 the Land oliess-ihc mIsmanaeesasni
Of the drPo,sies. ~ Inch s.,iieIed tia m 10 ,he
frOntIers-iLe slamor fassed BY The Exc euti,e
against bank notes. ~hich alarmed tie people
for their safety, ard csu-ed run upon the
banks for specie. Now has any one Of these
causes eesscdl On the contrary, have they
not ocquired ten fold fcrcei TIE sycrie Cn-
l'nIsr = bsi repealed. On The cos,rsry, il
la, been extended for baLk notes are pro-
sef,hrd. not merely from the land of!ices. but
frOm all pay mrhi, OF every Description 20 ihe
government Tie distribution of the surplus
( - over, because there " no longer any sur
plus 10 distribute: bot the great dnbuIs ernenis
On the Southern and Western frobtieU ope-
rate n njutiOus'y 10y requiring the transfer of
50 much revenue from the points where 10 is
COLLECTED. Lastly. and mainly. the alarm
about bank n"sss prop agaisd ~ the govern
meut. has been deeply spread throughout the
country. tiil what was st first passing cutlery
has settled INTO on implscabir sosihay, No
man, Thick. can doubt fot momept that the
Executive Of the United States sesk 10 msin-
tain Ills power by exciting popular ra>sious
I against, the credit y stem and that the " hole
Influence Of The gOVeTnment Is employed To-
iRiu.o into the mind, &c The people. dislI ust
and hatred OF all banks
fSr this purpose. the most insane raving~
are addressed 20 The cUp,dny Of the ignorant.
who arc taught that gold ahd silver are the
only tue riches, snd above all, that these
sbrewd melsl- would enable ~ 10 outwit the
pager dullness Of England. "Sir," said late
L. n - 4 a.
! United STATES ''Sir, n man loosos ell by any
a circumstance that but for that circumstance
- 10 would hsve made. Although England
is paper country. YET u Ics irsrs ,Ieigsir,-
" ~ a.ctstte eoHnt. SkOasid iaaks Blo.s osi
! . II eur iaisrcou's &c triih kes. And - hy should
a" We, because she chooses 10 MAIN her,slf bH
her paper sysism. follow her example -
The goVsTnmeBt il may be said, Is compar-
aiiVely harmless, because IT. expenditures Cx-
.eeed It's income. us reSul1r income, no
doubtful while it can pledge The public
credit for treasury notes at high rate of IN
itefesi, by which every mans property il
moIigaged, and buy specie with them. there
can never be waning the means Of depressing
/ the hauks. There is therefore no one cir
eurnsiauee which occssioned the suspension;
! Sufficiently removed 60 justify a change, aud
The most prominent cause fomainG with in
creased intensity. Accordingly
| 81. The credit system Of tie United States
aud the exclusively metallic system are now
iair;y IN the field face 90 face with each other
! One or the other must fall. There can DO no
other ssue- u IS not question ofcorrecting
errors or reforming abuses, but Of absolute
des,I uclioh; not which shall conquer bat
which shall survive. The present struggle
too must b. final lf the banks resume aud
are able by sacrificing tho community tn con-
z Fasar L. l..
ily employed at tho next elections 10 show
that the schemes Of tie Executive are tot as
Distinctive as they will prove hereafter. But
q they resume aud ngsIn are compelled To
suspend. tie Executive win r'jaiee 1t This
new triumph. aud they will fall IN the mids,
"f universal ou:rTy Hgainsj their weakness
( THIS ~ perfectly uucrIsiOod. and accoidingl,
all tie ~ luenre Of the Executive IS directed
( IL drive the Banks. by popular outrage aud
ciAmor, into a premature resumption rot a
bushes s. resumption, general and permanent.
hut political and forced RESUMPTION, which
} may place them 81 the mercy IT ia, o. ~ pow.
Ter. They ~ho have special charge &c these
B Interests must then beware Of being decoSeJ
/ from their present position.
They are now Safe and s'rnrg. and they
should not venture beyond their enuenrI,-
InSnis while TIC suemy Is 10 the plain before
them u they resume. ono &c two things viii
hsppeH their notes ~ il MT be received by
The GpVCrnmeni, or they will be received. 81
I ihey ore not received, the Government, Co the
extent Of the revenue, will fnrce the holder
OF The DUtes 10 draw specie from tie Banks
10 be deposited with The collectors Of The re-.
venue. For the difference between the reve.
rue aud the expenses, thc GoVerpmtntuiii -
sue treasury notes 90 be sold for Bark notes,
aud converted intO specie: and az the die.
bursomeBls are made at points on The from
tiers, remote FROM the place. uf collection, Il
will not return 10 tie Bsuks issuing 1t except
eircuitousy. But II the notes are renewed
they viii not as formerly be depo.iled iR
Backs and drawn out again 80 a. 90 eRleT into
the circulation. lrsSHg the public creditor hrs
, choice of specie or notes. hnt they wiiibe isft
~ speri1rdePr.iie vi 10 the receiters " hen
warrants are drawn oa these receivers they
vii call on the Banks for sperls 80 pay ihs
favored public creditor, selecting of course
The Bank on whom they viii dssw according
60 IT. servtiy or opposition 90 the Executive.
ard thus pIseh them ait under is control -
Now, usdrr such circumstances. - Il wise Tor
( tic Banks To dtsafm themselves IN the pre-
sencs 81 their encmy'
+ Do. The di,oidsts Of the currency lis too
deep for superficial remedies, and these patii-
lives Hrtsie shout ruring. Congress. and
. S""@FEr@ a"'itrs fah aFt'iy A1tI'ttto ffihi -
! Whst Mr.. NBdiaou sad Co CopEftss ~ ISIS
= even more true ~ i5Js. "FoF the Interests
% of ihs community ~ large" said De-, rs
cell as lDr ihe purposes ~ The IRE sury, q
f I" y esssBiiai that ths naiion should possess
cuusney ~ equal vslso. sFsdH and nse
" wherever u msy clrcuisie. The Cnnsiifp-
o. tion has entrusted ConErrss efcius,ftiB wi'h
% he power - 'faiisg ard rrEHiaiipg ctH-
" fenoy 81 hist DESCRIPTION The oHlv ~
f1fm N The currency which thsi body has
yri made. b The issue % fen millions 81 ire
dsemahle rapeF money. sd . proposal Tor
Sen nillnfs move. q & worth while then
- long 81 ConEfsst fails o. exercise ifs ieEiii-
nate p1Wefs o. sa-to itr strength ri the
county ~ efforts % arc mpiish ehat We 90
kuoa 10 BE- unprecedented 10 fesume nuu
T.fboW some clear CONCENTRATING eth tie
Gorernmsui seems 90 De throwing aaBr ihc
henehts n faprTisnrc. and re ifssons 81 roe
friunf. Wc base gunf through 90 ths NOR
uhrsiion snd 90 ihe iseoutenfnre n sus.
pcn,iou. Let us sndepv9r 10 profit BY Them
o. Is ihe fuiuFs o. sogie solid basis-- have
soufe riiafanirt n TIE ,isi,iiiv ~ ne eurfen-
y eg. sd nof rei efery thing sfoai sGain uiih-
oui kroTinE q here " may BE- a. flrt. Yer
a -. A..