The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1840-07-14
And the following letter is found at page 49,
OF the same document, from which ! give only
an extract:

| And the following letter is found at page 80,
OF the same document, from which ] give only
an extract:
! TREASURY DEPARTMENT, Oct 3, 1888
" la selecting your institution of the fiscal
agents OF the Government, not only rely on It's so
idlty and established character, afordng suh
cient guaranty for the safety of the public money
trusted TO its keeping, but confde also IN It's DISPOSE
ton to adopt the most liberal course which circum-
stances will admit towards other moneyed institutions
generally and particularly to these in your vicinity
The deposites Of the public money will enable you
| TO afford increased facilities TO the commercial and
other classes of the community, and the Department
anticipates from you the adoption of such course
respecting your accommodations will prove accept
| able tothe People, and safe TO the Government
] =" am, Sc,
ar b. TANEY,
| g Secretary Of the Treasury
The next proof is found in General Jackson's
message 10 Congress, in December 1893, where
he says:
I" ] am happy to know that, through the good sense
OF our People the effort TO get up panic has hitherto
failed, and that through the increased accommoda-
tons which the State banks have been enabled 10 al
ford, no public distress has followed the exerons of
the bank"
| And even Mr.. Kendall, if good authority, may
be quoted. Abiding to the large amount of
public money ON deposite, he says:
:" Shonld neither the Treasury nor the bank restore
| pOrton OF great 10 the tOHSt
i qucnces apprehended would be of the most serious
kind and the community of New York We're begin
ming To look earnestly To the Government for relief
| Then, sir, through the interposition Of the GO
| vernment did the banks shoot mady from their
spheres, ending with the suspension in May,
| 1887 but even this event so unfortunate and
disreputable would probably have been avoided
had it not been for yet other experiments for the
currency quacks in power had by this time half
xybpalc IN mot all drnctaI IN fhe nc.
compishment OF their grand object The improre-
menf Of tie currency, and all whirlng like the
machinery of a steam engine when the resisting
power has been by some accident removed
In the spring Of 1886, Col Benton, introduced
a resolution into the Senate, requiring all pay
ments for the public lands to be made in specie,
but il was promptly and almost unanimously
jected vet the members of Congress had scarce
" reached their homes before General Jackson,
by his ipse dia't in the shape Of what was call
ed Specie Circular, made that law which the
Senate had refused to do thus substituting his
will for theirs. AT the next session, Congress
passed bill by very large majority in each
house, resembling this circular, but il was at the
close Of the session, and General Jackson avail
ing himself Of the constitutional grant Of ten days
within which TO sign or return bill, did neither
before the adjournment, and thus again did the
Executive practically exercise Legislative power,
and defy the known wishes Of the people. Upon
the consttutionality, equity, expediency or con
sequences of the specie circular do not propose
TO speak, and allude TO il only as one Of the ex-
periments of the day and part Of the system
we are referring 10.
Another important auxiliary in the great and
glorious work OF improving the currency, having
its inception at an earlier day, but just now be,
ginning to bring forth fruits--not meet for re-
pentance however as yet-was what is now ge
morally and hest known as the gold hmmbug. Gold
was to be the common currency of the country,
and it was to be acquired by giving through legis
aton here an arbitrary, artificial value to il above
its real value, SO that being worth more here than
elsewhere, it should be drawn here and retained;
and connected with this was the establishment
Of branch minis
i Mr.. Chairman, have no powers OF descnp-
ton enabling me to tell the committee what bril-
liant prospects We're said to be before us, that
will compare with those exhibited in the columns
of the Globe for months, and as the organ Of the
Administration, speaking in its name, il seems
proper TO give them and us too, the benefit of its
own words:
From, he Globe Of Goth March, 1884
When the money held by the People is gold and
silver they can never be moved by panics, affected
by the difficulties of banks. With golden eagle in
his pocket on Saturday night, the aboring man may
rest in perfect confidence that no bank failure on
Monday will deprive him of the proceeds of his prece
ding weeks labor Few aborng farmers keep
ON hand for any time more than ten, twenty TO fifty
dollars and the sums they receive generally small
If our small currency were eagles halfeaglcs quarter
eagles, and dollars, with their fractions enabling all
these people TO obtain payment for their labor pro-
dnce in the precious metals they would be eecually
protected against all the casualties and frauds of pa
per money. Gold and silver
coin, the currency of the Constitution is Jackson
money! notes, with pictures them, promising to
pay, the banks money. Which will our farmers and
mechanics have Jackson moneyor bank money q
From the Globe of 18Th April, 1884
JACKSON MoNEYln few days shall have an
account of all the specie which has arrived
the principal ports in the United States since the first
day Of December last. We have doubt il crceedS
FOUR MILLIONS OF DOLLARS. The most
singular incident Of the times is, that GOLD as well
silver is returning from Europe
What mechanic, farmer, or aborlng man would
not rather have golden eagle than $40 note on the
Bank of Washington orany other bank 2 This is the
fSOUND CURRENCY which General Jackson re-
comments
From The Globe Of 25kh April, 1891
HARD MONEY CunRENcy. few facts arc neccs-
sary TO be known and kept in mind by the People in
the present crisis in order to understand whether the
country can supply itself with gold and silver enough
for the currency after the u States
Bank is done with"
From The Globe Of Nay 81, 1884
If Congress will pass the coin bills the Giro uation
of the country will be rich in gold and silver The
drops Of sweat which fall from the farmers brow will
DC turned INTO eagles, ana naii eagles ana spanish
milled dollars His bushels of corn, wheat &c, will
be resolved into dirty rag in the corner of his
pocket promising to pay what the issucrs have not the
means of paying,
Congress did pass the gold bill in accordance
with Executive dictation the sweat still falls
from the farmers brow, but il is not turned into
eagles, half eagles, or Spanish milled dollars
and the farmers among my constituents would
now be extremely rejoiced TO be enabled TO re-
solve their bushels Of corn, wheat &C., even
into what the Globe calls dirty rags