The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1839-12-05
From he BOSTON ids
THE CURRENCY QUESTION.

prove the condition Of the domestic eN-
changes. This proposition was entirely
voluntary and gratultouS ON his part
There was nothing IN the state of the cur
rencv or the exchanges at that time that
seemed 10 demand any improvement. We
possessed, in addition TO the local curren-
Cies, at that time, In a perfectly sound con-
dition. general or federal currency of
uniform value Throughout the United States,
and collections were made at the eXtrem-
est points of the Union at an expense Of
from one TO one half per cent.
General jackson and his party, howev-
cr, having determined 10 make the man.
agcment of the finances, and the custody
Of the public money, part OF their system
of rewards and punishment, and in tins way
10 convert the treasure Of the nation, or at
least its custody and use, into "spolls of
victory resol ed 10 oyerturn the system
then established and 10 introduce new
one more subscNient to their particular
ends.
To gloss over this selfish scheme with
some appearance Of patriotism and pubic
spirit, they proclaimed their intention Of
providing safer custody for the pub
lie funds, " better currency for the PEG.
pie, and an "improred system Of exchanges "
for the merchants. These were the three
bats held ont to induce the people to Sc
cond their schemes, BY PLAYING dexter
ously upon certain long established prcla-
does, by appeals TO the private interest or
supposed private interest Of capitalists and
brokers and by all the arts which, as po-
litlcal demagogues, they know soWell how
to use. they easily enlisted majority Of
the people IN their schemes. and they made
the first decisive stroke towards the practl-
cal Introduction OF their new system, by
the removal Of the deposits in ls33.-
Since then we have had IN regular success.
sion down to the present tune, all Of them
the fruits, direct or indirect, Of this pe'r
policy OF the government, the following
phenomena, VIZ:
/. The pc7ic # 1888 81.
/ ,. The ercesSire specuiattons Of 1888 6.
3. The stopPage of 1857.
/. The sererc money pressure and general
full Of prices Of ls3e 80.
). The stoppdge Of 1889
6. The ann tiiatioa Of a IN! form paper cur.
reHcy.
Z. The total confusion, and almost The an
Inhalation, Of the domestic exchanges.
:. The depreciation and disorder ofa large
part of the local currencies.
Such Is the accumulation Of distresses
which tic rational administration. IN its
attempt to convert the finances and treas.
Aure Of the nation iato party political fund
has heaped upon the nation.
But this i by no means the worst Of it.
Having overwhelmed u- with these multi.
iarlous miserles, the government has also
withdrawn from Us that nope Of !. better
currency" by which II scduced the people
to follow it. Having led Us into deep
slough, it all at once proclaims that It j,
no affair Of the government to pilot us out,
! The people We are told, are apt "to tool
10 the Government for too much !" The
constitution IS grayely cited 10 show tina
as to trade and exchanges, and such mat
ters, the government has very little to do
1t is a great pity that these constitutional
discoveries had not been made in seasol
= to prevent the people from beng deludet
by those promises Of a better currency,
and better exchanges" By which the,
were seduced to second the plans Of tin
government. To a people overwhelmed
with misery and despair, looking anxious
, ~ to the administration whose lead the,
! have followed. for aid, that administrator
now coolly replies the only duty Of N
? gouer0msat in these matters Is to look dfc
. me coinage If gold and siicer and at til
r same time to take care # aself. And in
, a,much as the banks and the people seer
+ to have got into difficulty, the best cours
for the government to take, seems to be I
cut all communication with them, or i
the words Of Mr.. Van Burcn's message
5 "to separate the fiscal concerns Of the gor
2 ernmeat from those Of indiriduats or cor
., poratlons," to set up for the government
: an "indcpcndcnt treasury" to be file
. with an independent currency" and t
; leave corporations and individuals 10 shit
e for themselves Z"
Such was the scheme Of relief, whic
q Mr. Van Buren, aud his adherents propo-
D ed at the time Of the stoppage Of l-37
! and it is that same plan Of relief to which
ghcy still adhere, and which slmpl,
amounts, according to the most lavorab
D view VIC can take Of 1t, to doing Iust moth
ing at all, but which, according to a vi,
. cr and iust view Of it, aims at a total orer
c throw Of the banking system Of the country
= Now here is a plain case, which a ma
r may read while he runs, too plain a cas-
d to be misunderstood. The existing admir-
= istratlon. in its attempt TO turn the Treat
d urv Of the nation into a machine for poll
= zeal intrigue, has involved the finances, tn
It currency, the exchanges, the trade Of til
/ country, in utter confusion. It has d.
s priyed us Of a good national currenc,
e which we had. 1t has corrupted aud d.
o based the greater part Of our local currcr
e clcs. II has forgotten, and now dlsown
a Ill L l..