Lexington union. (Lexington, Miss.) 1838-18??, 1840-01-24

w. .,e;ons. rarely repeated by Inc same
F'''. and il is fact, that for the last
P''," and \ half, during which the notes
! t.,,ai banks have been received, more
Sa'nomoicry Of these payments has been
' ,.n,;Dv made in specie, being a larger
'"'" ,,;,o than would have been required
p| %,o, wears under the graduation pro.
P,,'' moreover principle, than which
!. better settled by experience, that
5,'. ,n,nIy of the precious metals vii al
"' . - br found adequate to the uses for
'5,.l thew are required. They abound
'" .,,o,rjc. where no other currency is
~ 'aScI, In our own States, where SINAI!
"' ,,, are excluded, gold and silver supply
,.nlace. When driven 10 their hiding
,Ice. by bank suspensions, little firm
n,., IN the community soon restores them
snIlrieat quantity for ordinary pur-
n's., Postage and other public dnes
L,,o been collected in coin, without seri.
NM ;n,onyenonce, even in States where
deore,ialed paper cnrrancy has existed
IN wears, and ,his, with the aid Of Teas
n,y notes ror part Of the tine, was done
vi,hon, interruption during the suspension
Of 1887. A, the present moment, The re-
cni,,s and disbursements OF the Govern
m,nt are male in legal currency IN the
J,ro,sr norton of the Unon-- no one sug.
rasts departure from this rule; aud if 1t
can now be successfully carried out, it
wifi be surely attended with even less diff.
fruits when bank notes are again redeem,
ed in specie.
Indeed cannot think that a sorions
OBJECTION wO It'd any where be raised to
he receipt aad pigment a. gold and silver
in all public trasicliOns were it not from
an apprehension that a surplus in the
Treasury might withdraw large portion
dI from circulation, and lock it up IN
Prfnbly in the public vaalis. II would
not, in my opinion, be difficult to prevent
scl an Inconvenience from occurring:
bat the authentic statements which have
aIroDdy submitted TO Won in regard TO the
a,inlamonnt in the public Treasury at
any one time dnriag the period embraced
IN them, and the litlo probability OF IA
dIHrsa' state Of the Treasury for at least
sa'rears 10 come, seem to render it
NECESSARY 10 dwell upon it. Congress,
rg91ver, as have before observed, will
ae'ery year have an opportunity to guard
gils, il, shoul! the occurrence OF any
renaissance lead us TO approhend injury
I'm this source. Viewing the subject in
Ill il aspects, cannot believe that any
PERIOD will be more suspicious than the
present for the adoption of all measures
aCcssary TO maintain the sanc,iiy Of oar
wa engagements, aud TO aid il securing
hbe community that abundant supply Of
dcprccious metals which adds so much to
6nir prosperity, and gives such increased
Iahli'y to all their dealings.
loa country so commercial as ours,
banks in s'me form viii probably always
exist; hat this serves only TO render il the
m2re Incumbent on us. nalwiths anding
lie Heterogeneous If The past, to strive
10 olr respective stations 10 mitigatc the
"'s they produce to take from them, as
hliIy as the obliga,ians Of public faith
''d careful consideration Of the immedi>
aIenprcsls of the community viii permit,
We nnlnst character of mouopoles; to
"erS, 50 far rs may be practicable by
mdsn' legislation, these temptations Of
'ef'st and those opportunities Tor their
qo2'rons Indulgence, which lcset them
Va every side, aud to confno them strictly
performance Of their paramount duty,
WI oI allIng the operations of commerce,
.0eF than committing their own exclu-
eve Advantage. These and other salula-
may, 1t is believed, be accomplished
,:aln, the violation Of any of the great
n"r'PIes Of the social compact, the oh.
",''hce o: which is indispensable TO It's
%%,''ncF, Of interfering in any way with
r ns u'e'!l and profitable employment Of
,,n institutions so framed have existed and
i, ~" exist elsewhere, giving to commercial
nq., t'0rse all necessary f4ciliies; without
mr ~,"G or dePreclating the currency, or
,MG,I1a.'a'ing speculation. Thus accom-.
p,oI 1s 'oe'r legitimate enls, they have
h,T aa We s'r'st guarantee for their pro.
viii H., 81 ana encouragement in tho good
n; 'O, Inc community. Among people
Mi ' ;, as ours, the same results could moi
rer, ,r. aOena similar course. TIE d.
The n 0rgr''sion oflhe banks belongs from
States nI Of our Government, to the
legs,,"u authorize them. 1t is 10 their
bak r, TVS mat the people must mainly
The conl action on that subject. Bo, as