The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1839-11-06
From the Boston Atlas
THE CURRENCY QUESTION,
AS 1T NOW STANDS.

In the year 1882 General Jackson then President
of The United States, came forward with proposal
10 furnish the country with a Better Currency y
and TO improve the condition of the domestic exchan-
ges. This proposition was entirely voluntary and
graluitous on his part There was nothing 10 the
state OF the currency or the exchanges Al that lime
that seemed I, demand any Improvement. We pos
seSSed, In addition 10 the local currrncieS, nj that
| time, in perfectly sound condition, a general or
federal currency Of uniform value throughout the
United States, and collections made the ex-
tremest points OF The Union, al an expense Of from
one 10 one-haif per cent
General Jackson and his party however having
determined 10 make the management of the finances
and the custody OF the public money part of their
system OF rewards and punishment, and in this way
TO convert the treasure OF the nation least its
custody and use, into "spols Of victory" resolved
10 overturn the system then established aud TO intro
duce new one more sabservient to their particu-
lar ends.
TO gloss over this selfish scheme with some ap-
pearance of patriotism and public spirit, they pro-
claimed their intention of providing Safer Gus
tody" tor the public funds, Better Currency" for
the people, and Improved System Of Exchanges for
the merchants. These were The three bats held out
10 induce the people 10 second their schemes By
playing dexterously upon certain long established
preudiceS BY appeals 10 the private interest or sup
posed private interest of capitalists and brokers' and
by all The arts which, political de,nagogues they
know so well how 10 use, they easily enlisted ma
ority OF the people in their schemes and they made
the first decisive stroke towards the practical intro
duction of their new system, BY the removal Of the
deposites in 1888 Since then we have had in regu-
lar succession down To the present time, all of them
the FRUITS direct indirect, of this NEW POLICY Of
the government, the following phenomenal viz:
l. The Panic OF 1888 81.
,. The Excessive Speculation OF 1856
5. The Stoppage of 1897
4. The severe Money Pressure and General Fail
OF Prices of 1888 q.
5. The Sioppage of 1889
1 8. The Annihilation Of uniform Paper CuIren-
7. The total Confusion, and almost the Annihila
tion Of the Domestic Exchanges.
8. The Depreciation and Disorder OF large part
of the Local Currencies.
Such is the accumulation Of diStresses which the
national administration in its attempt 10 convert the
finances and treasure OF the nation into party poll
tical fund, has heaped upon the nation.
But this IS by no means the worst OF it, Having
overwhelmed us with these mulliarious miser
the government has also withdrawn from us thai
hope of "beter currency by which itseduccd the
people 10 follow IL Having led us into deep slough
II all al proclaims that il is no affair otthe 90
vernmen, 10 pilot us out The People we are told
are apt 10 look IN the government tor too much"
he constitution is gravey cited 10 show that as TO
trade and exchanges and such matters the govern
ment has very little 10 do. Ii is great pity that these
constitutional discoveries had been made in sea
son 10 prevent the people being deluded by those
promises OF =" better currency" and better ex-
changes, BY which they induced 10 second the
plans OF the government, To people overwhelmed
with misery and despair, looking anxiously to The
administration whose lead they have followed for
atd that administration cooily replies the
only duy OF The government in these matters is 10
look alter The coinage Of gold aud silver and at the
same time 10 lake care OF itself"
And inasmuch as the banks and the people seem
to have cot into difficulty, the best course for the go
vernmcni 10 lake seems 10 be 10 cut all commupica
ton with them, or in the words OF Mr. Van Buren's
Message, 10 separate the fiscal concerns of the 20
vcrnmcnt from those Of individuals or corporations
to sci up for the government an independent trea
sury, 10 be filled with independent, currency. /"
and leave corporations and individuals 10 shif for
themselves
Such was the scheme Of relief which Mr. Van
Bnren and his adherents proposed the time Of the
stoppage of 1884, and is The plan OF relief TO
which they still adhere, and which simply amounts
according 10 The most favorable review we can take
( II, 10 doing Just nothing al all but which, accord
/ 10 a wiser and Just view OF H. aims al a total
overthrow Of the banking system Of the country.
Vow here is plain case, which mao may read
while he runs, too plain to be misunderstood
ne existing administration in its attempt to turn
line fea>ury OF the nati "a into a machine Tor po-
cat nriSHe, has Involved the finances the currency
me exchanges the trade Of the country in utter con-
JASON. u has deprived Us Of good national cur
rency which We had. !, has corrupted and debSSed
the greater part OF our local currencieS II has for
gotten and now disowns all the promises ii had
made but IS still pressing on, vigorously as aver
towards us original aim, which il now proposes 10
accomplish b. means " what i,c.IfS al irIrrsa
quIreS an debS to be paid IN cold and SILVER ana
which deposits that gold and silver for safc-kerirr
in The hands Of parcel Of desperate political Draw