Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-10-03


or ttcentg dollars, the ordinary channels of ci,cula
ton should be supplied with gold and silver | added
The Government would then, but certainly not hi
dten, "be prepared, without hardship to the public
debtor, To require The payment of us dues IN specie
distinctly Indicated the suppression Of bank noios
under ten twenty dollars as the limit Of the 70
turn, rs iaras practicable. To metallic circulation
winch contemplated, and the previous accomplish
ment Of that suppression the indispensable condi-
unh precedent OF an attempt, On the part Of the go
sernment, to require The payment oi It's dues IN
spec,e' Aud yet the whole Of this explanatory aud
qualifying matter has been carefully omitted.
ID 'heir quotations, l., the party writers referred
/ Ia, aud they have seized upon lev general
phrases hero aud there rudey from the context,
which plainly limted aud explained ihcr meaning,
To Produce lc false Impression that IN 1884 had
advocated an exclusive hard money currency. and
pledged myself 10 hring forward II some future
day, proposirIon having that object IN view.
have shown you, fellow citizens, tho true scheme
ai currency reform which have invariably advocated.
II was tins scheme winch distinctly set louh
IN the speech made on the removal ol the D.pos-
ties ~ 1884 and II has ever .inee been the chat by
which my whole course on the subject OF tbs cur
ieney, aud the collection Of the revenue, has been
steadily directed. 1t is the scheme 10 which then
pledged Myself and few plain matters OF fact will
no" enable YOU To decide whether have not faith
July andto the letter, pursued and cndeavoured To
carry II out.-NcIy shortly alter The speech made
by me on the removal OF the Drposlles, ccumstS
made II proper aud necessary, as conceived, that
should resign my seat In the Senate IL the l.. $. |
mas, two years after, reelected 10 the Senate and
neain look my IN that body towards the close of
HE session OF ls35~0 when II MAS too l,e 10 intro
dnte any new measure oi legslalion. Very early.
however, IN the succeeding sesson of 1867,
Brought forward proposition III exact pursuance
aud iulh'mont Of the views had expressed, on the
occasion OF the removal Of the Dcpositcs IN
lsai In - interval between my retirement
rom and return 10 The Senate, two OF the steps nd
Gated IN The progressive scheme OF currency reform,
which had advocated had been already ,akon The
L. :. Bank had gone down by The expiration aud
non-rcncwal OF IT'S charefan law had been passed
10 correct the undci-,anation OF the gold coins,
What then, remained To be done in completion Of
the plan OF policy indicated in 1891, was to bring
forward some measure Nm the encouragement aud
suppression oithe smnll notes under the denomna-
ton oi ten or twenty dollars" The measure /
brought forward had this object in view, proposing.
after certain designated periods. 10 rooose III pay
men of the public revenue onl, The notes OF such
Banks NJ, from aud after those periods respectively,
should cease 10 issue bills oil the smaller deDomina-
lions, extending the restriction ultimately but gradu-
ally 10 all notes under the demon NATION Of twenty
doa,s--a policy which, If heartily adopted by the
general government IN lis fiscal regulations, II WAS
then believed would be finally embraced aud render
ed 'ihcehi by the cooperation ri the states Tbs
measure afterwards became well known under the
name OF the Currency Bill. II WAS passed by over
but beng presented TO the President, General Jack
SOU, within the last ten DAYS of the session OF Con
gress and OF his administration, withheld
by him, and by that means only, prevented from be-
coming law, for II lac had returned II with his OBJ
jertlons, II was well known the ewas much more
than the constitutional majority Of iwo-thids IN each
House to override his veto. Why measure which
was designed to cauy oni policy winch General
Jackson himself had repeatedly recommended, was
thus violently srangled have never been able 10
divine, unless IT were,hat among us other provisions
II contained one ovcraylng tln tRyore Executive
banlling OF the celebrated Specie Circular.
However this may be, felIow-citlzens. think you
will not hesitate To say, upon this simple recital ot
f.cis, that had faithfully and 10 the letter pursued
the views had expressed in le3A-ihat ] did all II
WIS IN my power do, 10 carry out The policy and
system Of measures then advocated, aud II they
were not conducted 10 a successful contamination,
the fault, most assuredly, was not NINE But was
satisfied with this single eno,t 10 carry out the
views announced by me IN ls3i.-At the special
session OF Congress convened by President Van Bn-
rem in September 1887 again brought forward, IN
peiseverDg conformity To those views, tho identical
proposition h,J offered during the session Of 1851
when | had been supported IN IL by the who'e adj
nlnlsiraon party IN the Senate, with The exception
OF four five dlssenlients only. On this occasion,
however, the President, heylng, IN The mean time
recommended lIs bard money Sub Treasury pro-
jet, the whole admlnlsl alton patty, WITH very lew
exceptions. abandoned III the position stu con
tnued 10 maintain; aud the same propositions which.
only months before had received the nearly unan-
imous vote, OF The Senate, now, IN consequence
Of this sudden change of front by the body OF the
administration party, negatlged by adecidcd MAORI
~. Sill, however Determined TO make one more
Effort aud during the succeeding regular session Oh
1878, submitted, Tor the lhird lime, with very
Sigh, notifications, part OF amore extensive mea-
the proposition which bad, at very fecey
date, been sanctioned by The almost unanimous ~
pro,al Of the Senate. But the maedic,ons ecra'y