Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1838-08-21


- could collect it's dues make loan in another medl-
um, which would all the purposes OF money -
Is il prohibited. II the doctrine OF the gentleman o
South Carolina be true il is and supplies coua ho' NC
nrocured and military operations carried on TO The grea
danger and damage Of the country. cons"ucuo" "
the Constitution which would lead TO such disastrous
suits cannot be sound. The result OF The geh'ie'
argument is that because the Government chh"o' .'"
mel others cannot itself however necessary or cohfe
nient, receive any other medium Than eou a mI I'D
payment of it's dues, conclusion en'fGy E So, il
inconclusive. The Constitution OF the NV .; 81 ,ho
the supreme law of the land; and u the -, ~
gentleman from South Carolina be irnr' inc ''"'e vi"
vernmen,s have right to rece'Se any o.'e' ~. nn
than gold end silver IN payment OF '"f :,,;. J
bean in the hab,ual violation OF the Cons"'"'""' NV
49,; Ibid lead thrm to exact gold and silver. me
noe IN issue Treasury notes 10 u" expressly oeeE"'e
r. rho Cons,tulion but is authorized as an incident OF
the power to contract loans and debts l 'n'hk lhese
reasons, OF lhethsei'e'' "''t''
gument -, $3.50. :; a., ,,,x,o r. this IA.
bate much said of the "c"nShHttondl currency les'
The constitutional currency" Now. II The word cur
.n,, &c any where written in the Constitution, 1t has
escaped my research, although most Vg'ianty maue-
If it any where prescrihes currency nave hui
i, can find in the Constitution the power TO "con
money and regulate the value thereof and to regua.e
tho -, Inc NJ foreign COIN; but cannot find single
sentence which makes gold and silver CON the t1c"See
cv,,,nry of the country. find in the Constitution
Thai h STATES prohibited from making any lh'ng OUT
rod and silver legal CHAT is compulsory tender IN
1avmen, OF drhls; but can no where ma thatahy ah
is prohibited from receiving payment IN any heu'nm
which he chooses. What then Is currency any thng
,xb,c h,scredt enough to give II calculation, whether
bank no,cs bills of exchange. bonds or notes OF hand
Circulation not money, constitutes currency and do
moi perceivr that the Constitution prohibits any man. or
Sc, of men, from giving currency to any species OF ooi'
cations which creditors willing TO receive Such
q oower would have cogged and embarrassed CONNER
cai operations to great degree and have been most
arbitrary and despolic Prohibition Gentlemen ioget
that there is material difference between 'ct"'ng"sSS
,ulih ALI
have most wisely protected the people from the copu
sory receipt Of any medium but gold and silver llat IL
would have been very unwise 10 have pr"ilo''cd mat
which they were willing and preferred receiving ms
so Of currency has crep into the dogGns
of polca orators but can nowhere be found IN the
letter or spirit Of the Constitution: and when hear The
term unconstitutional currency used, about "hch Inc
Constitution il entirely silent. and which II could not
prescribe always conclude that he, who uses il makes
and not nerprets the Constitution. For, Sir, III these
latter DAYS really find constitutional terms, IN pdh-
san r0caLua,es, which can nowhere be found IN that
wise but much abused and perverted instrument.
The gentleman from South Carolina relies upon the
act Of 1879 requiring all public dues TO be paid III goa
and Srer only conclusive evidence OF the truih ni
the Interpretation which he has placed upon The Consl'
tuition That act reads thus: "Ihe duties and fees TO
be collected by virtue of this act, shall be received in
gold and silver coin only"
Now, Sir, with due Difference TO The opinion OF me
honorable gentleman think this act proves directly
III. reverse of his proposition. This act was passed
the Constitution did not permit the receipt IN payment
of the public dues in any other medium than gold ana
silver, il act of useless legisniion anu only
sought TO do that by law, which had been done by the
Constitutions The very fact that The Constitution did
not restrict The medium in which payments might be
received rendered this act necessary Many oi the very
men who framed the Constitution, were m-heEs at that
Congress and by this act have themselves interpreted The
Constu ton. leave doubt whatever, that the
medium of receipts intended TO be LETT 10 the drscre
ton Congress to be controlled by the and
the necessities of the Government But, Sir did that
act exclude the receipt of convertible bank notes.
| answer, No; because at that time convertible bank
notes regarded as equivalent TO, and treated 90
specie For the purpose Of sustaining this interpeia
ton. hereby quote passage from The report vi zen
Hamilton, the then Secretary Of the Treasury, OF the
22d Of April 1890 to the House OF Representatives, in
which, referring this section of the act he says This
section provides for the receipt Of the duties IN gold and
silver coin only. The Secretary has considered this
provision as having for its object the exclusion OF pay
msn,s in the paper emissions Of the particular States
and securing the immediate ultimate collection Of
the duties in specie intended to prohibit to individuals
the rght OF paying in any thing rSceptn gold and silver
COIN but not 10 hinder the Treasury from making such
arrangements as lis exigencirs the speedy command OF
the public resources and the convenience of the com
munIy might dictate; those arrangeme ns being compa
Bile with the eventual receipt of duties in specie Th:
interpretations thus placed upon the act of 7e WINS re
ported to Congress early the ed of Al n 1890
The habit of receiving the notes specie paying banks
nv the Treasury Department. also reported Con
gress on the 22d Of May, 1874. With this information
before it, Congress on did not correct, bu, acqnesc
ed in General Hamlons construction Of tho aCl; and
this construction has been pacsed upon by every al
mInislra,ion of the Government since Congress itself
has, by various acts making the notes Of specie paying
banks receivable in payment of the public dues inter
preled the powers Of the Constitution as MIR Hamilton
did; and has, think, settled It's proper construction be-
yond all possible doubt To prove that The notes Of spe
cie-Pnying banks regarded equivalent To, and
treated Specie refer 10 the proceedings Of Congress
under confederation
cooperating the Bank Of North America. The follow
ing one of the resolutions adopted:
"Rsorsd, That the notes hereafter TO be issued BY the
said bank payable demand Shall he receivable in pay.
menl of all taxes duties and debts due, that may be-
come due, payable 10 the United States
Again; in the 18th article Of the plan Of the bank il
provides "Thot the hank notts, payable demand, ShaH
bg d BE- m0dc rectr"Jc in tie duti'S ami lures Of crry
State IN hc Union. and trom The rfp'ctrc Suites, by he
Treasurer If tie United States SPECIE This act was