Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-06-05
VGLgTsEi N1xV.---So. =.

| . o.
HE States nd'ssolubiy united in thor -rs.,g ...
t"e States, aud having other powers Bat tbs
but that II IS pc !ectiy safe 10 add this aqwe ,o 90
IL co"''s5sAIy s. TO The vast Of oovcr already
: possessed By this GnYefnmcut-this raw Eead.auj
bloody bones accumulation # power in lie Federal
Government which We have been Geuo..;.c'ur and
warning nCainSt-LeCEuSc il is sa,G the mower must
H5.Gr snmr" here, nd It is dangerous a power
I" trust II STATE corporations. which hare Er.t!e mo-
tive, courage. ability. - abuse it. Aad Sir has
II come To this? Is this the hoas,cd separation OF the
! Government from III" money Puwer' i mos! notable
*rrarai!0h: 4 separation By direct and entire union
! A separation By granting the unlimited power 10 make
anc issue money: power too dangerous give 10 Sale
Corporations, lest peradveDtuTe they may combine with
The Governments hut perfectly safe TO grant the whole
power "Iih"ut restriction 10 this Government. And
tins IS State rights:
1t viii operate unequay. These notes By laws Of
trade and commerce, imvarIabIe and Interchangeable, will
acCrmulae in large cities where they needed uu
der the universal law of demand and supply and will al
lord relief Ia the interlo.-,o the '2rncis aud the
country merchants Such was the 7pcrcnce Of Mr.
Baas in i-lG he says 'lhat the .sury afford
I'd geN"Tnl relief, that they hatsld would continue
|" accumTate IN the large commercial cities where they
were needed, and rarely found her.way into the inte
nor ana ihaI the currency Of ih' ical banks ell
that the farmer could Obtain" Mir crawford says the
same thing, aad adds that they gave relief only 10
that section cast of this CITY, where Government dis
h"'se'neGs chiefly made Where is now the
largest amount of these notes Where it always viii
FS-Iii .'t" iWh-Wieic tifcy are HOSt WhNteu
Eeiow par in New York; five per cent above par in
Charleston: and yet asked believe that 10 have
peculiar currency iO the Government when that cur.
Tcncy accountants IN such abundance in S'w York, as
To be below par, and is IN Charleston as 10
command FIVE per cent. premium. IS 10 facilitate the
pr vment Of duties in Charleston AM fore yer 10 be
asked 10 assent these norctPs unsupported By argu-
meat, and opposed by all experience and facts? IL IL
said, the mp0re;iors Of Charleston have increased OF
lGIe, and hence this policy is favorable to The South So
l. q hat thCco pGP
Is PtIiIadr PHIa Southern city? Why have they in
creased: For the smp reason, that in The present de-
r1nGrm"r, of ID" currency funds cannot be placed in
New YORK.; and from the greater suffering Of New York
than any other point by the late universal crash of
i1se ornadoes which the tarst are the first to
fall, when time must be ao"ct Tor those s,raghten
Which have been bent and for new growth. The
Chairman Of the Committee Of Ways and Means tells
US TINT it not anticipated tia. these would
have so soon returned to The Treasury. | suppose
II not. But it might have been iorescen and
would have been, by GnarclPr Of ordinary ssgaci
~, or even by the present Secretary, ii lie had
The history OF former issues Of the same
kl:d Of pGPer. The report Of MIR. Dallas would have
informed him, that, when tried in 1916 .'Ihe revenue
had been collected almost exclusively Treasury notes
and would continue be collected tong hcy are
issued by the Government" Mr.. Erawnrd says the
thing, and IN The opinions Vi those aLe men, such
mast always be- the cas-. That if any revenue was col.
lcted il be ia these nDlcs and that 81! conscgucrcc
they woUld return the Treasury in the pa ylcnt of
public dues r,D'dY thcy paid The pub.
ltc creditors. Ike Prneopes web andong 10 the night
The work Of The day But suppose that the brilliant
genius Of Air Woodbury. all aid from Sac lights
Of experience The suIgcG'iGnG of such poddng rl.
loss Dallas Crawford and GhlIaU; and that II. he
LOOKS all into the history Of these times il is as he
would into The history Of The Persian monarchy as mat.
ter u curious reading, not for information Cnd practical
instruction.
But siT is it really necessary that The Government
.houid resort 10 this dangerous power: II is There
other, and IN every way better modes of raising
nry, by which the necessary supplies may L. tused and
most benecent elects produced upon the PROSTATE
Eges and !2Ttes!y d The G24qlFI skf 97n y Ae HI
3owcrtl cnerncs no par.yzed by legislation,
viii raise it up again like giaEt aroused from MS
sluubes You sell your stock thus raised at pre-
NJ urr whilst you mus, dispose oil the Treasury notes 81
discount Both plans create deht-neIber creates
, rcruancnt and funded debt for whenever you are
In finds Won car redeem such stock. fon VIII save
At least halt million. and what is OF infinitely greater
rorsrQucucr YOU will save the Constitution. IL need
no, b. said that the stock thus created VIII not be more
In,b,s than Treasury notes Mr. Crawford tells hat
syac,ly such stock bearing per cent interest! and
.cdsenablr At the will Of the Gn""rnmen sold IN fe2,
l..? and 1871 al premium al tw" per cent why IL
IS 50, shall stop 10 show. >" IL always hos oeen,
aud sp am informed on the highest authority, 1t will he
now will not propose such loan, because w!ii not
relieve the GovernmcG, from the lDs ofIum OF bring
log the county into such condition. Let The Adini
cisra,icn OPENLY and oboveh"ard G. TO The people tel
them there ID no money IN the irasuiy, 'hal ivy
forced tn borrow y life upon it, that il It IS no ault al
b.,rs they will not be held answernblc 1t It ~ their
fault, they ought not To be allowed to escape the re-
sponsibty. Ask for Il loan, ! say, "reny: ara 90
not wrap it Up in the GcluSive PreteSt OF ISSUING
Treasury notes What individual, II he wished 10
horrov, ten Millions and by issuing bis notes IN
large sums to a few Individuals could raise upon
them two hundred thousand dollars more than Their
face would chouse to issue them in small sums ca.
s;lv necciialIr TO multitude OF creditors. and at a
nd dollars. all, hail NIL.
lion That precisely is the difference between tie Two
plans and we about TO do for tie country what no
sane man would do FOR himself.
would receive payment for the stock in the bills OF
banks, specie Let portion ol lie
stock be sold in Europe, and as condnit to bring
into This country nol by forcing and artificial process
norton of that specie which the natural condition Of
our country and of Europe, and the wise policy OF 'nat
enph,eued matt upon whose commerce we nave peeh
ga ing baIbaric war, is disposed 10 send here
These Treasury notes give no permanent Eeiei' un'
less reissuabe. 80,
Thov are paid in as fast az they paid out and 1t
re;ssuabc YOU your Treasury Department ihto
Government bank Of issue and GepoSiie, ana IN Inc
,.,,si,r of liz funds necessarily Of discount too.
Tbese advantages great az regard them. sink in com
,;son vith the benign aud addressing influence OF an
,nnuncia,ion by the Government in manner formal and
authoritative that the bills of specie paying banks will 1s
cceiVed BY il, The disease has always been more one
or credit than Of currency The banks never have neen
in "a sound condition at present. never nave 'hey
had so large Il basis Of specie as now Confidence;
and confidence alone is wanting TO give us a sounn
bank currency aud 10 carry once more prosperity ara
honpness in broad streams through the land without
il, the banks permanently resume Confidence
10 their vital air. without it, they can M more lVe IMAM
c,r ly in an exhausted receiver. II may be easily DE-
monsra,ed tina, in period of doubt and tsrust bank
with million OF specie, and never more than my 'h"u
sand dollars of notes circulation, may be forced 70 ss
pend There be no more striking iIiustrar'o" " ~
an ,bo snsornson in 1871 By The Bank of England -
/, had n, tic period OF its suspension, only ten mil
on m'C of notes in CIRCULATION and thirty millions of spe,
Gle But The Directors distinctly t"resnw that win
demands by wars na e
.e Of an invasion from France, that their
apPrt"s,SIG b. exhausted and they determined to
pnJ and by doing sustained The industry and bust
penn, ~ - .n,rr and carried Enuland Triumphant.