Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-02-02

| am sorry 10 differ from you in tho opinion that 1t
ought TO be. Neither State nor General Government
should mix itself up With the concerns OF Pr.rat cor
poration, Banks declared TO be. Every effort
OF State 10 depart from the standard OF the Consttu
ton leads men danger-for it cannot be done ctrc
tually II, in England power existed 10 issue exche
quer bills upon such demand for coin as authorized IL,
this might justify some attempt OF State TO proceed 20
extremes in her banking ~ s.cm but nothing but gnId
and silver Can ever be made tender and hence all the
Banks must be broken when they have issued many
PROMISES and much suspicion has seized The pubic nu
as 10 their soyency, unless State nlerp0s0n happens,
in violation oil al! principle, /" sustain n?roVdent es'S
laliOn and Tie recklcsanrss which II producers
II it be suppose that gold and silver VIII How 1910 NE
State from the operation finer laws increasing cafiA
no greater error can BE- committed. Cold ana SILVER al
ways seek cheap market, and not dear one and thHl
market always denicst where the most paper
The creaiinn OF paper banks w! have tendency 10
drive il way, iDslcad Of entlcng 1t towards YOU from
the operation of this nvarable law. High prices always
exist here there many banks because additional
value is impaired Ia commodities by their Creation nu
less value attached to money This money IS local III
It's character and Of will not purchase al distant
market how then is il possible TO purchase at the mar
ket where the currency is better, aud prices const qtn
~ lower without purchasing with gold and silver: Gou
and silver must then be TO the cheap market from
the dear one ard thus The very subs!ratum upon wiich
the paper issues based, is removed away IL must
therefore fall later, it is the inevitable result
Of the system, long the provision requiring g"!o
aud silver rs tender remains IN the Constitution
II may be expected, since Virginia has entered upon
this career that this wise provision of iarseeing men Is
TO BE- bloted out orlty OF States become
Debtors unless the desired result be obtained by tie
indirect means which State Legislation iurnish-means,
which VIOLA the spirit and intent of the Constitution,
gteutly cxpless aw in which the violation IS
Gvuwed.
1.-THE North you address for the most part, empty ears
when you speak principles and call upon Ten TO sustain
them oppose laws by which those principles are re
moely affected Exceptions rare 10 this truth though
i, usr0 be otherwise IN Virginia Principles were The
test there anG The exceptions consisted OF those wh" mad
none aud cared for Under all circumstances,
have looked back 10 Virginia for my political ia and
verify believe that is impossible Tor man To err
much with regard to his dulles under our complex sys
lem who f,ovs the guide that first made the path piain
and then vert to Monticello observe how others ira.
vpcd it, II greyes NE therefore, 10 Virginia chang
ing one from her former position She has ever had
moral gre atucss hch commercial greatness ought not
be compared She trusted 10 labor rorc han to
the benefits Of egs!aion-BankIng vas pursued oy heT
not Tor lis gains aud independent business, hut as
necessary Tor few Stat ccs, chiefly that OF prevent
ing other States from drawing an income from her by
q paper currency. Al these laws looScd TO The honesty
and industry Of The people as means {" hv!ng instead
Of their wis Il was Virginia which originated all Of
those PRINCIPLES u construction which Apply 10 The Con-
sulOn and which couine the powers and duties OF The
Government 10 the few simple Objects when are 10 he
gathered cm the express grants IN The lnns'iiutlon-
showing how much she valued 4 mere prIncip!e Where
vcrnrcnl was intended for hard money Government;
the Constitution contains the well known clause that no
Stale shall any bills Of credit The "h Jet a! this
clause s adulsG have been, prevent large paper
circulation; II being then supposed that we could never
exist except with the aid aud credit Of The Stale. Viz
GINA Is now establishing banks, attempting by her Gre
d ardnluencc 10 keep them in ope'aron and she calls
upon the General Government to accept their promises
money; 10 lodge It's funds in their Golfers and to make
them lis fiscal agents desire TO b. nnr ned. whether
she does tncs No, depart from that faith which gud
I'd her delegates in the Convention Under his system
the Genera! Government must look IL the States for
currency Under the system intended, the General CT"
vcrnent to furnish currency tor the States Let
hear OF principles if tbs be her present Po-
s!iicn
Apologisng Cox this liberty, which hope will he par
dned to feelings enscndrrd by long residence in the
Stale, ] request the publication OF what have hastily
written. our compliance will be considered warrant
for troubling you with examination OF oWr free bank
ing iaW Yours, &c. llEARlCO.