Liberty advocate., 1839-10-03
From me Lyachdarg Iirgi,uan.
TIE CURRENCY.
A National Bank, OF d Treasury Baak.

The readers attention is invited to very
lucid aud cogcnt article upon the Currency
from he pen Of Col White of Florida, VIII ch
We insert this morning
The presenH Hderungei condition Of the do
meStic exchanges, so uliy eluCiduled by a let.
Ter from New York, in the last Virginian, can
not much longer cYlinue, without exciting n
universal demand the adoption Of some rem
rdy 1t is not in the nature Of things that Il
people, bound together by the strongest poIti-
cal tics, will much longer consent to remain
without national currency--a medium Of ex
change which shall be Of equal value AT New
Orleans and al New York. The Southern
people, especially, will not forever submit TO II
lax. he avier than The highest duties Imposed
| by the tariff fo 1928, according even to Sou,h
Carolina computation, and bearing, as the rates
of exchange show, exclusively upon the South
for the benefit Of Northern factors and mer-
chants Nothing but the most excited party
feeling, nearly akin to biSotry IN religion,
could so long have rendered the people OF the
South tame and unresstng underthiS heavy
yoke, and bllndly hostile TO the only aud the
obvious means of relief They have it is true
been long amused with the ilea Of The return
IoI the Golden Age, when the precious metals
shall glitter in their green silk purses: But
we are no nearer lhr realization OF that dream,
OR, rather, we should call il that shameless
lliposlure OF bold preeuder, periIousIy eX-
pcrnientng upon the ignorance and crrduhly
oI the peupit,-than when the Prophet uttered
his nevcrrU-he. reaIIZe VACCINATIONS. Gold Is
as scarce now us when he stood upon the tripod,
like the "rapt Pyhoness," giving voice to The
Oracle: and Paper, actually lrredoemabIe ana
worthless beyond limited circle; fills the chan
nels Of circulation, from which, under the aus
pices u Van Buren, Benton and Woodbury.,
''the best medium OF exchange ever known IN
this or any ulher country has been expelled.
The question will before long force itself
upon the country, then, what is the remedy lor
The evils under which the county now SUI
iers?
The Wings answer this question in single
word. II is to return TO the old paths IN which
our fathers trod 10 build up agan those instI.
tutons which have been de lruyeI by the ruth
lessness Of purity sprit--to he guided by the
wisdom of Washington, Of Madison, and, be-
fore lhwaned ambition had "narrowed his
mnd,n Of Calhuun-Re.churter a NaIiona!
bank, under such restrictions and lImita ions
as past experience may have shown to BE- ne.
ctssary-make it the fiscal agent Of the gov
ernmen and while, by suitable restrictions. II
shall he shorn Of all polill al influence, BY Civ
ing il IA chauer for long term Of years, de-
ptVe political aspirans oi The hobby upon
which SO many Of lhem have mounted o Office.
In one word, make it, whnr lis interesS IN
SrnctiSely prompt il to be-a fiscal, and not a
M l.ta Mi al
Bank was, in the Judgment oI all impartial men,
unll ii was dragged INTO the prhtIca arena by
Gen Jackson-compeIIe 10 wage war against
its assailanls in sel-delencc-and then denoun-
ced because it did not bare its neck dnresis-
tngiy to the knife OF the eXecu,loner!
] he leading friends o! the Administrations,
although they now endeayor to convert Ma
rionaI Bank into il great bugbcar, did nor ori'
ginaly dream Of making II a test OF political
That issue was premadrely Ior-I
ccJ upon them by the current Of events, "hicoI
they pa in motion, but The course OF when
they could not control. They originally in
tended 10 erect another National Bank upon
the ruins OF that which they destroyed, as is
evident from Gen. Jackson's own Ve!o IHes
sage, in which he emphallcaily expressed his
10 sign Bank charter, If he were
permitted TO dictate its provisions. What
hose provisions would hate been, it is lmpos-
sibIe now to ascertain except by well support.
I'd conjecture. 1t is certainly doing him no in
justice TO suppose lha, he designed il to be n
Political Bank Government Machine-an
,pppndage of the Treasury departmental
b anch Of the Executive; adding the Moneyed
20 The Political power, and uugmenilng lndefi-
llely the al,eady ovcrshadowlng patronage
md influence OF hat department OF the govern
neni--the Aaron's rod of our federal system
Or probably Gen. Jackson's plan was similar
% that, which, in the winter Of l83l-32, We
are told by the Tuscaloosa Monitor, was siren
lously advocated by the democrats OF the Lee
yislalure of Alabama, according 10 which the
:apital was to be ONE HUNDRED MIL
LIONS of dollurs--( (worse, this, than "Mr.
lays Gfiy million Bank is it not, Mr.. Rtch-
e?)-thc Parent Bank % be located AT Wash
ngton, Immediately under the eye Of the Pres
dent, with branches wherever the President,
with the consent and advice OF the Senate,
night direct.--the President Of the Bank and
our directors in each branch TO be appointed
" the Federal ErecutipP, under the same quail. |
fica,ion This, perhaps, was his plan Of bet
ering The currency, whilst II strengthened and
consolidated the Power OF the Federal Execu
iye Indeed, the declarations and votes of the
eaders oft Jackson party prove conclusive
v that their hostility was 10 'the BaHk," rath /
If than 10 "a Bank !" but ultimately compelled,
" the storm Of public feeling which they had
xcled, to take ground against Na'iona
5unk in any form, they have been ever since
/ their wis end, 10 Gevse some other scheme
y which their long cherished purpose Of un
ON Of The Purse aud the Sword might be con