Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-10-08

h. T.,
the due and just administration of the Federal G. y
ment IS II no; far better 10 obtain them IN the pa,, ~
Just mode pointed out in the Constitution itself ,Ia
resort to the short cuts OF construction the by
implication, and worse than ALL The high wav os :o =!
dent: ?''1e.
f"u also gentlemen, speak of the candid and c,,di,,
support which, in ny public capacity have given n
the present Administration do assure you that il n
ofo'o me great pleasure be able. with The s,,;c,es,
regard 10 tiuth and duty give that support l,woud
nus cei,aihy have been withheld with manly iirmnrss
II had found that the me hundrrd,l pail of what had
en- sac aga'ns. The President previous 10 his elecr n
was rue u Affords me equal pleasure be under lie
firm belief that his whole cunt:c, ~ the udninis,r,
OF me Government thus far has fully and compFeprv
ialslfled The predictions made Of IL nv his ensm,s ma
more man answered The i"nces aniicipatlons Of his
lfends SHALL therefore, not fail TO give 10 his nd o
nIsrauon as long as II continues To manifest Tho
lcan principles Il has thus lar observed fair cordial
and honest support.
As to my votes to which you have alluded ON INA
great questions debated in the Senate could no ,mb
consistent regard to all my past principles and crtc
o. well az more recent protessons have given any ohe
when I cirrtru IL 49, S...,o ,Ls o..,,! ''r''
much distracted as II IS now, by great political mo.
ties. II was well known that was decided ado -
tor The men and measures sustained by one Of tb,a
parties, and that all occasions of party cba,,c,
should act with that party to which had heretofore sd
hered. through oil its contests it's powerful ors =,
Tented rival To have pleased both of these nar,i H.
my votes and conduct, what did no, pec 10 N.
and feel some satisfaction in believing that did No,
oisdPPont OCtH or elmer one oil Them the cUu,sa
pursued, under the peculiar con nncure on tak,nu nv
seat IN the Senate | discovered TIM, nv -:
tualion mere was as neSpected as was painful i,
me. Deeply as felt the ma ynilude of lh, resnur.,
o''y y oechne my duty to assume, of nenralrzng by
my vote on some great questions the influence onr
beloved Stale IN that important Assembly did M, no.
sna'e moment IN taking what seemed 10 me TO be INV
plain path Of duty. All my early and long. cherrsT.d
political principles lighted my lamp, and the old Zoe,
and the recruits who stood in the dsfl. onIv
nerVPd step to the Defluus ho
OF all the States was deranged an Unprecedented
and ruinons degree by The then recent Suspension of
specie payment by almost every Bank in the Union:
and The wheels of Government were thereby c,uo.d
and almost stopped for the want OF funds al a mompn,
when many oil those very Banks had in their sacred GUS
ody and safe keeping, millions of he money which The
people had paid IN The shape Of taxes for sole and
only purpose OF defnying the expenses Of their Govern
ment! In this state OF things Congress was Convened
What was to be dune2 A Bank Of The u ) was i,pme
diaely suggested as the only safe remedy tor the pre-
sent Distress nnd certain preventive 10 lis recurrence in
future. Neither my principles. before adveried 10 on
this subject, my deliberate judgment as 10 thu Wis
dom and expectancy of such institution even If they
could have been sufmDunlrd, would have embed me 10
sanction the measure, had il been formally proposes and
pressed 10 I vote Iii The downfall Of The l. ) Bank
had honestly operated with my political brethren
in the experiment Of the Stale Banks dsposores Of
the public money and had borne my full share Of d-nun.
citation for my willingness Mus 10 yield up TO The yl!e
of The Federal Executive all the treasure The
nation Al the meeting Of Congress in September 1881
ii inct eOnjesstd that this experiment, had com.
ptsiy and sgnony tned and that far from The Pre-.
sIdent of The u bring able 10 obtain from MS league
Of State PET Banks boundess treasure, wheIewiih Ia az
grandize himself aud rnslave the people the whole com.
bIned Government, Congress included could opg or
extort from these curaiors and of the people
nry, ;he payment of bare modIcnm sufficient meet
lis daily current expenses In such exgsHcy what
10 be done Obviously, two things-the inst. 10
raise in legitimate way the money necessary tor
the immediate use of the Government-the second 10
provide mode. whereby the revenue Of the Go.
vernment might be Kept in future suba to lis wants
and order-and not diverted from that sacred purpose
into the channels of trade traffic and speculation as
bad ever been whilst conhded the safe keeping Of any
Bank. After great difficulty and opposition the frs,
object was accomplished, By resort TO the faith and
credit OF the Government, through the issue of rsi
any notes ~ m,ed omoHms and red'emabe at h
the whole history Of Bank cupdily. and Bank mo
raIity, manifested in their past CUSTODY and adm
n's'ral,on OF The public fund; aud thoroughly con.
WINGED that like causes would exist in oil nme
and produce like distress. if continued 10 suhsc, .
sacred revenues OF The Government TO the successful
issue Of their odious and hazardous specuIaoG had
commended lhot Congress should pass Law separating
Bank and State, and dsposing of the public treasure,
that II should never again ba diverted from It's destined
purpose. 10 the OF speculation and trade tie pro-
posed that the Government should have pubic frea
sury oil It's own, REGULATED ny LAW, and according TO
Nv. managed and controlled hy The necessary NUMBER
OF cers selected from among nur most resprctaOr c.
zens and guarded by prov which pes'n'i"e
cast coud suggest, or future experience might indicas
as necessay honest accountability Tor al
money confued their care, signal punishment iof
ais dishonest USE or fathless disbursement No human
being doubted the constitutiOnay OF this msasn'r OF
far have heard that it was the very sysien
cnnpmp plated by the trainers OF the Eonsi.iuoI ana
only prevented from being practically coevai "ilh s
operation by singular coincidence OF crcuuaEceshh1
events, which the tedious length TO which have urrh
already seduced admonshes me not to enrmefae lhe
plan OF simple, independent, constitutional pubic 20
vernment Treasury. recommended BY President Van bn
rem in September, 1887, by his adyersaes Win
denuncaiion. abuse rdcue, epithet and nickname =
Those who looked TO Naliona Bans the great iinlr
cia panacea and therefore had bitterly opposed s
ing in the way Of It's revival what they r,eas-
call the PEI Bank system, clearly in the adopon&
the plan suggested by the President not merely for.
ther ponement, but death blow to all their hopes
ever again fastening that measure on the country They
accordingly softened their tone about this vile isagg:
Pet Banks and expressed their willingness try thea
again, rather Than take The Od0us Sub Treasury! hrF
did not ndmit that they had been or could be- sale
and proper fiscal agents for The Government; hul wn
willing To adopt them rs "Hait7ray H0pSe, urd5;
the certain concietion-hal they would. could De /
made again 10 tnH 10 The desired puPo's 1
and thereby accelerate end under an apparent and
plausible necessity for the measure, render almost CT
taln The reessbshnent Of their iavorile lastrymrni
OF power o hers, profcssedly enemies 10 q Nrmn'
Bank, and admitting the toiul and disastrous air
the State bank system were (srange TO isu as t''HE
opposed TO The measure recommended by the Psstr' II
as they possibly could have been. had he sugges'1H II
their choice a National Bank They conteuced h' \
the State Banks had not had fair trial public dt'
tories and that the circumstances under which they laa
failed comply with their engagements were Of ane1
traordnary character and might never agn'n recli n
whilst those who lodged a, the halfrau house. kew uH
we'll that the temptations 10 over trade held out 10 tse
banks by the free Of the large revenues OF he
Government, would render similar calamity mater
of frequent and ordinary recurrence. most, hove'rf'
restrain my pen on this subject further than 10 '"y d"
if the President of the U. States, under his mIera
constitutional duty TO recommend TO C""gf~s -" \
measures as the good Of the country shall seem!ohH
require, shall be unable TO suggest betnr ptnthn
the one 10 which have been adverng. and thnt st"S 4
be submitted to the consideration OF Congress, So \
give i, my renewed and hearty support, under the "a
conviction that il 10 recommended TO the Amen
L., LIAR ElL..r