Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1838-03-26

BANKS now ask the Secret Try TO read The ex,rSc,
numbered two.
e" Having now stated the measure necessary to
apply The remedy, am ,hus brought 10 the ques-
t,on--can the measure succeed which brings up
tie inquiry Of how lar may he expected to receive
the support OF the several parties which compose tho
Senate, aud on which shall next proceed to make
Few remarks.
" First, 'rffrn the State rights party give Il
their snppon that party Of which am proud OF be-
nv ame'nber, and Tor which entertain 50 strong an
'iIhchncn--the stronger because We are1ew among
many 'n proposing This question, am not ignorant
ol their long standing institutional obje 10 tho
bank On the gonnd that this intended To he,
It II usually expressed, a hard-moncy Government
II to,c,nmcnt "llnse circulating medium WIN in
Il tended 10 consist OF The ireeiou, metals, and for
winch object tie power 81 cain,ng monry aud rcgu-
alih2 The value hcrrol expressly conferred by tho
Consultations ! know how long aud how sincerely
'li's opplnon has boon entertained, and under how
man, d'liieuliesn has been maintained. II is not
my niehiIon To attempt Ia change opinion
/ hrinlN fixed, but may be permitted 10 make few
observations, IN ordt To present what appears To
to be the true question IN reference 10 the constlu-
t'"n point--in order that We may fully comprehend
the circumstances under which placed IN TO
terence 10 IL With thus view, do not deem it ne.
cessois To inquire whether, conieitiug The power
com money and to rgulaIr the value thcreol tho
Constitution ,neuded 10 inil the power strictly
coming and .aatlHg lis Value wheihet il ihicnd-
ed 10 confer more general power over the the
rencv nor do | mtenl To inquire whether the word
CON Is ii'"ed simply TO the metals, or may be cx-
tended /" "lhcr substances, IT, through gradual
change, they became the medium OF the gensr-
Al ejaculation OF tho world"
e" The very receipt of bank ON the part OF tho
'o'ein mcnt, IN It's dues would, IT Is conceded. make
tl,s money, rs L,I as the Goveru,nen, may be con-
/ ctfhcd, and by necessary consequences, would
make th"m, II n great extent, the currency at thu
conn'fy. sns n"thiug al the positive provisions IN
the Constitution which declare thst all duties, i'm.
posts aud xti,es. shall be iio,m throug liout tia
h,ied States, winch cannot be, unless that IN which
the, are pad should also have. nearly pradti-
cable, a uniform value throughou the country. To
ee, tins, where bank notes received, the bank
ihe power - necessary and propc,, wuhm the mean
my oi tho Constitution; and consequently, IL Tho
Goveracn has the tl4hl receive bank notes IN IT'S
dues the power becomes Constitutional. Ilcie lies
sad Mr.. {. the real constitutional question: has
the Government right To receive bank mites or noti
The question * not upon The mere power OF intor-
potaung y t'ik, rs II has been community argued
though, even IN that view, there would be rs great
u constitutional obrclou 10 any act on the part OF
the Executive, of any other brauth oi the Govern
meni, which should unite amy association Of State
banks into one sysiere the means 81 giving the UNI
ormtt, aud stability iothc currency which the Constr
tuition intends to confer The very act OF 50 assOci-
al,nc tlcm mtp eur b, whatever name called, or by
~h0e,er department p, riotned, wal be IN fact AN
! act oi INT utpotairn,
Iiur, sad Nj. g any object, rs lave stated, is
not To discuss the estuiIonal questions, to do
crnIne whether the bank b. constitutional not Ii
~, repeat 10 show where the difficulty lcsa diff
Gully winch have tei from the time first came it-
10 pubic service. found then, as now the currep-
e, o the country consisting almost entirely Of bank
notes. found the Gryerumcst intimately con-
nectcd with the system, receiving bank notes in it's
dues and paying them away under It's approx riaI'ons
rs cash. The lari was be, ond control IL exist
ed long broic ~, tine, aud without my agency;
aud MAS eorpellcd To act the fact ~ it existed,
without deciding on the many questions which
,. a.,
on 'saoy otslieh have nese, yet formed a dc6nle
opinia1., - one can pas less regard to precedent
than do, tne here III rly representative and de-
llbcrase thndeler, on legal or constitutional ques-
uons bat have l,t from the beginning the full iorcs
OF the distinction 80 sensbly taken by the Senator
from Nnginia, Mr., LrIGn, between doing and nne
doing an act aud which he 50 stongly illustrated IN tho
al the Ichase OF Louisiana. The constitutions
atty olhalacl doubted b, many III The time, aud -
mons OILERS by lis author HIMSELF yet ls would be
considered u mailman who, coming INTO political
ii III this late peiod. would now seriously take up
the question OF the siut,onaliy oi the puschass,
and, coming to the conc us,on that uneOnsti-
'ullon should proposc to rescnd the act, and eeW
from the Union Two foulshing States, and grow
my Territory"
next ash the attention Of the Senator's especially
from the Northern Stcs, he the Secretary reads
the short address To The OpposItitn, that they may
see how distinctly tolesaw what was coming, and
how anxious | was To ave,t the calamity that has
fallen on the section where ] anticipated IL would.
ask the Secretary To read the extract numbered
three:
II next address my sell TO the members OF he OPP
position, VIM principally represent tie commercial
and manufacturing porlIons oil the county, where
The banking syste has been the iarth.st exte ded,
and where Larger portion OF the property exists in.
the shaI,c OF credit than amy oIhe ciion; and to
mhoma sound and stable currency most necessary,
and the opposite most dangerous. You have no
constitutional objection; 10 you II is mere qus>
ton OF cxpcdiency viewed III Tins light, can YOU
vote or tins proposed measure IA measure design
ed to arrest the approach o events winch have de-
mousliatcd mus, II not arrested create ulsionS
and revolutions; AID 10 correct n disease which
must, II corrected, subject the currency To con-
tnued asItttiOus and fluctuations: aud in order to
give that pe,manancr stability, aud uniformity which
IS 81 essential 10 your safety and prosperity. To et-
ic,l tins may require some dmlnuiian the profits
ii banking some temporary sacrifice OF interest 4;
but II such should be the Tact, ii will be compensated
IN mq,e than hundred fold proportions. by inoreas-
ed security and durable prosperity. il the system
must advance III the present course without CHECK.
and # explosion NUT follow remember that where
YOU stand VIII be the crater: should the system
quake, under yout ioct The ciasm VIII open thai wall
ensnli your institutions and your prosperity"
regret tot ospass on HE patience oil the Senate,
but wish, III justice 10 y>eii, to ask Their alton
ton Ia one one, winch, luuug not Immediately
la'ng to the Ques lou under consideration, is not m-
IL lcvant TO yiudication. | not ony expressed
my opinions te"ly nlelaion 10 The currency and the
bank, the spe, CT from which such cOpious rA-
tracts have been cad bat had the plecauiion ,.s-
fine my political position distinctly in reference 10
the political parties Of the day, aud tue course i
would puIsne IN relation 10 each. | then, rs nos.
belong 10 the party Ia which il Is my .lo.y ever "a
have been attached exclusively; aid well, ex.