Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-03-08

Have the ighi 10 make sucia bargain the frat
question andto thar. give decided negative.
which hope 10 place constitutional grounds.
that cannot be shaken. intend TO discuss il, with
Other questions growing out ofthe connection oil tho
Government with the banks, ~ new question, orths
first time pfcsened FOL consideration and decision.
Strange may seem. the questions glowing Of
II, Ms long us it has existed. have yet been pre-
scented nor Investigated IN reference 10 their consu
tionaiity. How this has happened, siall now pro-
eeed 10 explain preparatory TO the examination vi
the question which have proposed.
The unlnn Of tho Cove rfineui and the banks was
never legally soolnnt1ed. 1t originated shortly alter
the Government Ncut into operation, in any legal
Enactment, bur IN y shor older 81 the Treasury De-
paimeni, et not much mofe than half dozsn VI
lines, as II it were mere matter Of course. We
thus glded mpeiccp1bly INTO aconneeton, which
was never recognized BY law TIL 1916. Ut my
MOI, selves) bat Which has produced inofe import
ant atlel consequences. aud has had greater con-
ilol over the destiny 81 tins country than any Of the
mighty pnestnns Nhith have 70 often aud. deeply
agtaled Tire country. To il may he traced as ilisr
seminal prnt pie, the vast aud extraordinary cxpau-
SOP OF oui banking system. unr eXe"rslse import
duties, Unconstitutional nd pfoiuse disbursements,
the protective tariff aud lis associated system for
spending wha il tluew Into the Treasury, followed
IN time by surplus. which the utmost exrava-
eance of the Govctnmeu, could not dissipaIe. aud
fua>. by sort al letbntife insice. the explosion
oi the culture hankpn sys'en aud the prese ni pros
hated condition al the currency, now the subject VI
our dcbeBuion.
How a mrasue. faauht with such n,portant con
sequences. should nj tr>l, aud Tor so long time,
have escaped tie attention aud the Investigation I'll
the public, deserves n passing notice. 1t IL 10 be
planned bS The iasc conception o the entire subject
oi banking, which At that early period universally
prevailed IA the commHuay. So erroneous was il.
that banl note MAS then identified ~ The mud of
the public with gold aud s,lvsn and u depositc ia
huk wts regarded under tue n,pst sale aud rad
cu,lody thar ruud be devised 'rhe original i'm
PRECISION, de.iyed hamtlc hAnk of Auisierdat: where
rsctS note al tet1licate ~ circulation was honestly
lewoseuedby N equal aud specific quantity OF gold
SILVER IN hlnh, aud heie eyfrs deposlle was kept
as sacred hus IL b. eales rctutned tie de
ilut, when demanded. Nas .N-bded 10 bauks of
dis, QUIT dopu 10 HE tiul" 81 the formation Of
tioteulneal, Will bal sHghl notifications. Wnh
this impression, II = mol At all eMraogdmars thai the
drpusr al Ill" revenue Ia hanks Tor safe keeping,
md the receipt 81 thrl uoics IN the public dues,
should be- eonslleleda matter al eutrsr, requiin.
no hghrr autiontS lhall Treasury otdcr; aud
hruee connection with all the impoi qucsiiops
brlonglng 10 II, aud no" considered III sast magni-
tndc received ~ htao nuilsc nll public attention s
was directed to by ilstceenl rupture. This total
separation BON the sSstrui. ~ nideh nov dl1
ourselves placed, lur the int time, authorizes aud
demand, tal W. >hlll investigate freely aud fully.
not only tHe cons, gnruees OF The eohnaetian. hat
all tha qufsuals gfo" put al II, niure especially
thosc ola constitutional character aud shall. IN
obc !icuce 10 taH demaud trtuin Ia the question
from Which lhiYtie'es eiou las carried me In
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