Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1839-07-25

'i0nal lHeIIsencef:
"NEw loRK, July IL
We begin 10 hear the lfoans Of The South, the
Southwest, and the West the disorders of The
currency. The Southern planter utters his laments
aloud over the action of the Bank of England up
on his cotton. He is finding out, and just finding
out it is rcmat kable that he regulator otlhe curcn-
cy is not III Chesnut sueei, but in Thread nee
die Street, London, and that when that regulator
contacts, cotton contracts; or when that regulator
refuses to discount cotton bills. cotton is rather a
dug; which, together with IA combination OF the
spinncs and short hours, is not just the hing
aid him 10 making money. We'll, we Of the North
made all this discovery 'ong ago. II is of the
first lessons learnt in political economy. We
nov continue 10 puzzle ourselves with the inquiry,
how long the Southern, Southwest and Yves
consumer will be content pay from ten 10 TWEEN
ty-fye per cent. more for all goods consumed than
consumers pay because there is national cur
rency. We think ii Will take the States off the At
lanlc At least three years to work the problem out
but we have doubt they will work it out in the
end.
North is the ptolessed hostility Of the Van Blu
rem to a National Bank. There is not the least
hostility such institution in The Northern States
aud there never has been among nne- tenihs of the
People. Mr.. Van buren,, when lie peritioned for
branch in this State, in company with all the Alba
ny Regency, indicated the true Northern feeling up
this subject. 1t is very true, Mr.. V. BIS friends
cay out ''monster," lawful monster" aud all
that; but New York humbueS, and is never hum
bugeed. All these people don't really mean a word
they say. The whole Regency concern would vote
tor National Bank in mass, provided they could
have the control of the stock lit. You cant scare
man here with the cry of "monster,"as Mr. RIrcHlE
does in Virginia 1t is all CANNON, tile Y ankees
call it. The position IN which the North now stands
is this that neither Iary will move for National
Bank the Van Buren, men, because they cannot,
without eating up pledges enough 10 choke them :;
the Wings, because, II other people can put up with
the currency as il is, they best cau-he Northern
/ banks, niusng all over the Union Northern cur
rency being lheis the profits on the exchanges to
rable being theirs, the consumers in
other States paying the bills but more than ALL they
are poweress Tor good long Southern plantC rs
will be duped by New York politicians
! Precisely. What does New York want with a
National Bank, when the fist and direct effect Of
equalizing the erchan geS, which would result from its
establishment, would be to deprive New York of the
immense profits which she now drains from the
pockets Of the Southern people, as the consequence
of the arrangement of the currency produced by the
destruction of the Monster 1t was doubtless under
tue influence of The lessons of experience, that the
very able editor of the Charleston Patriot, hereto
fore violently opposed to National Bank, declared
that we must have somewhere and in some shape
! Moneyed Power TO couneract the movements Of the
Bank Of England, which is now the great regulator
of values, not only in Great Britain, but through
out the world. The question must force itself upor
the attention of the Southern people, particularly ii
the cotton growing region, whether they aie indeed
prepared to Idle of an abstraction" We do no
; believe they They may submit, under the in
{ 6uence of party prejudice, while longer to th
evils of "a local currency, which, in the nature o
Things, cannot have fixed and universal value
but when succession of caamities shall have laugh
them that there is to be end to their pecunlar
difficulties under system dis ointed and chaotic
j containing in itself principle of cohesion or @
S safety they will again, as the Republican party di
j IN 1916, surrender their unreasonable prejudlce
r and again call upon Hercules for assistance. TIL
J. is Just as certain as that the people will never con
sent to be ground dust and ashes, in the pursu
/, of lancied good, promised by set of utopan e'
ol permenters whose promises are invariably like tn
apples of Sodon, pleasant TO the eye, hut bitter
lie the tase-charlatans, who amuse the people wit
is Golden dreams, from which they awake only to fr
is in their hands worthless paper-~ho say that the
,e will give them fish, which proves to be serpent