Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-08-22
TIE CURRENCY.

ming.
The present deraneed condition of the dor...
exchanges, so fully elucidlted by letter from NJ.
York in the las. Yirgnian, cannot much Io..s
conrinue without exciting universal demand
the adoption of some remedy. 1t is not in III.
ture Of things that apeople, bound together ~ Il.
strongest I-llliical ties, will much snge, cops.n,
remain without a national currency-a medp,, :.
exchan e which shall be Of equal value at Ne.o.
leans and at New York. The Southern peonIs
pecally will not forever submit TO a tax heav,e,A.
the highest duties imposed BY the tariff If loo
according even TO South Carolina compn,ao.
and hearing, as tie rates OF exchange show. .,t,
siycly upon the South, for The benefit Of No. ,.a
factors and merchants Nothing but the
cited p1ny feeling, nearly akin TO bigotry in rejoi
could long have rendered the people of the Soa,l
tame aud unfesistng under this heavy yoke and
bliudy hostile to the only aud the obvious means ot
relief. They have, it is true, been long amused
with the Gea of the return of the Golden Age. who,
the precious metals shall glitter in then green all
purses: But we are no nearer the realization Of that
drcam.-or. rather should call that shameless,
imrostufe of a bold ptetender, perilously experl.
meuing upon the ignorance and creduny Of The
people. than when the Prophet uttered his never ,
to-be realized vaccinations. Gold is scarce nov
as when he stood upon the tripod, like the "nn
Pylhoncss,' giving W ice 10 the Oiacle and Pape
actually iaedeenable and worthless beyond hmm.
ed circle, fills The channels Of circulation from
which. under the auspices Of Van Buren,, Benton
and Woodbury., the best medium OF exchange
ever known in this or any other country hasbesa
expelled.
The gu. slion will before long force Itself uponds
country. lhen, What IS the remedy or the evils uudt
which the country row suffers -!
The Wings auswc, this question in a single word
l. is to return to the old paths in which our iahcs
uod--to build up again those institutions which haya
been Destroyed " The ruhessness of party spirit
10 be guided by the wisdom of Washington,
! Madison, and, before hwaued ambition had ma.
rowed his mind" of Calhoun Re charter Naltn.
/ al Bank, under such restrictions and Limitations
past experience may have shown TO be necessarily
Make ii tie fiscal asaent of the government and
while, by suitable restrictions, it shall be shorn q,
all POLITICAL influence, by giving it charter fer a
long of years, deprive political aspiian,s of The
j hobby upon Which many Of them have mounted
10 office. In woId make il, what its interest,
insinctyey rrompr II to be-a fiscal, and not a ro-
htjcal machne,-such as the late National Bank was.
IN the judgment Of all Impartial men, until Ii was
dragged into the political arena by Gen. ackson-
compelled to wage against It's assaanrs in sell.
deience-and then denounced because it did not
bare its neck INTERESTINGLY tie knife otthe execu.
TONER.
The leading friends of the Administrations al.
though they now eHdcavorlo convert Il National Bank
into great bugbear, did not originally dream Of ma
HI, 9 it test Of political orthodoxy. That ISSUE
was premaiureIy forced upon them by The curren Vi
events, which they put in motion, but the Il
which they could hot control. They originally in.
tended 10 erect another National Bank upon the
ruins olhat W hch obey destroyed, as is evident tlom
Gen. Jaekson's own Veto Message, in which he
emphatically expressed las willingness TO sign a
B aux charter, il lie permitted to dictate isl
provisions. What those provisions would have bcen
II rs impossible LOW 10 ascertain except by well SUP
ported conjecture. 1t is certainly doing him IN
justice TO suppose that he desigaed it to be PoIr
cal B1nk-a Government Machne--an append7s'
of the Treasury Departmental branch of the Er
etulive adding tie Moneyed TO the Political po9e,
and augmcnting indefinitely the already oyersaqd'
owing patronage and Influence of that department
the govefnmeui-the Aarun's rod Of our edca
/ system! Orrrubally Gen. Jackson's plan SINH
Ia that, Which, II the winter OF 1912 We ar
/ told by the Iuscaoosa MoniloI,-was strenuous!
advocated by The democrats Of the Legislature
Allah INA, according to which the capital was 10 be
] ONE HUNDRED MILLIONS Of dollars two.se
this than Mr. Clay's fifty million Bank" is ii NJ
Mr. Richie D--lhe Parent Bank 10 be located al
u dStiR gtoa Immediately under the eve Of the Pr
sident, with branches herever the President win
the consent and advice OF the Senate, might drsc,
the President of the Bank and four DIR "A
each branch to lie appointed by the Federal Ertta'
hoe under the same qualification This, perhaps
was his plan of lettering the currency, whist
strengthened and consolidated the Power Of the |
Federal Executive! Indeed, the declarations ADD .
votes oil The leaders the Jackson party prove coz
eluS"ely that tier hostility was to - the Bank IA
ther than TO "a Bank :" but ultimately compeId |
by Tie storm OF ubiic feeling which they had excl |
ed, 10 take ground against National Bank in ap
form, they have been since at then wits end
devise some other scheme by whlcliheir long chr /
lshed pupose Of union of the Purse and the SwOr
NIGH be consummaed. The Gold Hum5ug, thcy7
ways knew, was cheat, and was only thrown out
the people, as tub to tho whale" 10 amuse Their
until their plans could be natured. The Pet Ban
league, the offspring Of keudals incenuily, vs.
first ried and for short time with the brightest pros
pect OF success. These Banks answered admrab! L
eieciIoneeung agents and had the commefea
world been unuisfurllpd they ,n,rb, b,r, riyen