Litchfield enquirer., 1838-07-19
OUR FINANCES AND THE CURRENCY.

OUk flNANCEiS AND HE CUhkENN1.
 The following remarks of Mr. Webster in the Se- as amended on motion of Mr. Curtis, present in com prehensive summary the entire legislation of the ees- sion subjects connected with the Currency and Fi' onsG porsn. @ anesons are left % Congrsas % ~' '''
 Mir. Webster said he should concur most readily in this amendment of the House.. It gave him the tru' est pleasure learn that the House had rejected the second section of heb and ,ha. hHd done go oy the surrender of all control over the public treasure to the Executive. It had interposed it's own high autho- rity in most constitutional and sulutary manner; People For all this (said MT WI feel highly grate- u and at this result think, the whole country may be justly congratulated.
 We hold on yet to the true doctrine ana t1e impor perintendence of the public money, and hope, Sir, we shall continue to hold on. .. ,.,
 And now, Sir; as 10 what remains m thls Dill, l think it is of great importance. N will do no harm, and some good. It relieves the incapacity of being received at the Treasury from bills of banks which have issued small bills, provided such banks shall s- sue no such small bills after the first day of Oco- Der next. This time is much top short. even if it were judcious to fix any definite tirne which do not think it is. The banks generally will not be able to discontinue the use ot small bills within that perISd nor will they have sufficient nducement to do it. The inconvenience will fall, not pnncipaiy on them, but the People; no man will be able, if the law regarded, to pay his postage account! or any other uoUI uuG tO OOVcIUuIeHtS Uy uaIy Oouh NosS9 "''a
 This bil, therefore, does little, very little indeed, tn remove the evils and nconveniences which are felt and which must G continue to be sts. felt . ,.,.rv circular is st in force; and that bank note of any knd be less than twenty dollars can be received at al This greatly mpairs the privilege secured by :he resolution of l816. At the post office and at the land offices paper less than twenty dollars can be received. have already, again and again. laid thls before the view of gentlemen. have asked them I they are contented with this state of things, and they think tue People are conented. Win the small purchasers at the land offices be satisfied with ths Is it right to expect it Certainly Sir this IS not wha,
 proposed for them nor what thought their interest If we mean to maintain the principle or the resou' tion of l8l6-if we mean to make bank notes recev- able at ali, why should we embaTass and thwart its as twenty dolfarsl Why not stop at five dollars, the point at which the State Banks have arrived :,
 However, have addressed the Senate repeatedly on this part o the ssOe aho bo, ne Sese who usually act with me. have done all m our power benefits of the resolution of 1916, without unreasona
 One word, Sir on another part of the subject. This bill leaves the depose system in full operation in some places and some States. and leaves IL mposs ble to be adopted in other States Our actual system therefore, will be wholly unequal; it will be one thing in one part of the country, and another thing m ano | ther part. These evils, DIT, 0no tneeS ncquauueo CuHhOt iOasE exist-The county will demand their removal.
 We break up then, Sir, with no Sub Treasury Bill We break up with no Special Deposiie Bill: We break up without having surrendered to the Executive the just control of Congress over the Pub 1 lie moneys.
 We break up, having abolished the Specie Circular But we break up, nevertheless, leaving such provl sons Of law in existence, and such Treasury C!rcu Jar in existence as mus in my opinion, very eerions ly embaya@ the operations of business. especially IT particular parts of the country.
 And we break un, moreover. without haying done any thing-any thing at all-sowards establishing paper currency, equvpeat Q specie ct universal ere dit end of ehs same valle in every part of the coun try;. Tin we establish such currency as thisl w ". shall not have performed high and important duty which, in my opinion. is solemny binding upon us Tn we do this, that is not done which will ehsctval | ly satisfy tho country. Othes things may Do paia lisl.
 tw only add eir, bseauas believe it is true. tha
 e maasuse calculated to carry into full affect the ab l clifton Of the Specie CFculaF-such measuEe as had tss honor topFopoag Co tho Senaie--coDld hav baan psssonled In manner Co bo acied on, wltAou delay e ebaFEaesmens Co tho popular bfnpch cf Con aFsss, ,k Hngld have succeeded, Il that branch, by
 very decided maIosity. The publlShod pFoeeedInfs ihai body siAkel6nIly shev tblA tElyssss