Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-02-25
COMMUNICATIONS
TO TIE CITIZENS OF Ftuv.tyNA.

table and Intelligent a source, that / cannot regard the
call other than a manifestation of the principles You
have so long cherished, while tossed TO and fro upon.
the political world. | therefore cannot, with ~proprIety,
evade your wishes, and will enter the field with an un:
compromising fidelity 10 your cause: and 1t should
prove i'll April next to be your choice, shall putt in ac-
tive exercise all my ability ana skill, in promoting your
interest in my Legislative capacity.
IL follows, of course, in my understanding oil the
duty of public men, when they rescntthemsclve or are
presented by others for any public promotion, TO define
their position; yes, show their hand nnmasked, let the
people know what they are. ! am unknown in person
to some of you, and Of course my political principles are
equally so. | shall first call your attention to my
course in relation to Gen. Jackson and his Admins
tration in 1924, when there were four candidates in the
field for the highest Office in the gift of the people, VIZ:
J. @. Adams, Henry Clay, VIM. II. Crawford and Gen.
A. Jackson. | was then not ripe with years, but a boy
about nineteen. then was what was called n Jackson
war man-as the Wings and opposcrs of Jackson en-
deavorcd to make the people believe, that as soon as
he was President, he would make war with some ma
ton or other. ! took the ground that he was the last
man that any nation would war against, as he was
much dreaded in a fighting capacity.
Then, in ISIS, the contest was between Jackson
and Clay. In that contest | voted for Jackson, and used
every cxertion in my power to promote his election
entertaining, as | did, a great hatred to Henry Clay,
on account of his Federal principles, as well as the in
triguc he practiscd against Gen. Jackson, when he was
first a candidate for the Presidency; that act, %Independ.
cnt of the odrous principles he entertained on the
leading measures of the Government, sunk him for
ever III my estimation.
After Gen. Jackson's inauguration to the Presidential
chair, and his Administration had commenced, he was
much assailrd BY his opponents, who lavis!Icd on him
epi,hcts Of the most odious character. | take pleasure
in saying that my confidence in him was never shaken,
and his measures won my everlasting gratitude, be.
cause / believed his acts to be purely Republican, and
the Constitution his motto. Then. IN l-}6, came the
Twin Ticket, bearing the names of William II. llarri-
son, an old Black Cockadc Trderalist, an appelIation
given him in Congress by a Virginia Statesman and
Republican, John Randolph Of Roanokc.) The other
name on the ticket above alluded 10, was Hugh l..
White, Of Tennessee, a modern Wing, both entertain
ing principles obnoxious TO the established virginia
principles. To defeat that odious Wing Ticket, the Re.
publicans put III nomination Martin Van Buren,, OF New
Yorh-and defeated Harrison and White without a
struggle. a: that election voted for Van Buren,, and
did all III nv power TO procure his election: which
vote | have never regretted, and shall give the same
vote i'll November next, if am spared TO get TO The
polls; and take pleasure in saying, that his Wan Blu
rcns 81 Administration, has met my entire approbation,
agreeing with him, as | do, upon all the leading inca.
sures of the Government-anti Bank, anti-Iariff, anti
Internal Improvement, and anti-Statc Banks, as fiscal
agents for the Government. Frlow-C ountymen, can
We forsake such a man as Van Buren,, whose principles
are c%ongenial with ours-and take Harrison, who does
not entertain one principle in common with rs? His
views upon the all-absorbing question of Abolition is
enough 10 set his claim at rest for ever in Virginia for
the Presidency. w-Countymen, what do yor say
Read for yourselves. Here follows his own dcclara-
ton: 1t IS Il subject nearest my hcart-to see the whole
of the public revenue expended in the purchase and
emancipation Of the slaves; and the consent of the
States So to do would make it constitutional IL his Gen.
Harrison's) opinion. What say you to that; are You
ready and willing to give mp your property; 1t ccrtain-
y IS as much your property as any other property you
possess.
Has he Gen. HARRISON given any pledge tha, he viii
veto any bill that Congress may pass on the subject of
Abolition: lie has not. Has Martin Van Buren, gwen
any pledge on that question: He has. | have here
drawn a picture OF The two men, and leave you to chose
between as your better judgment may dictate.
/ shall myself support Mr.. Van Buren for reelection,
because he has in my opinion manifested every dispo-
sition to bring the Government back 10 the old itcpub.
lican standard of gS-GU-!lis measures have been mild
and sa!e-no manifestation Of ambition in carrying out
his measures, holding at the same time the Constitution
for his guide.
/ shall here make an allusion to our State Banks, in
order to show you that they are not now entitled 10 our
confidence and support. New dangers arc daily disclosed
to the Banks from the extension Of that system of cx-
t~ravagant credit of which they are pillars. Formerly,
our commerce was founded on an exchange of commo-
dItes, including the precious metals, and having IN lis
transactions but little foreign debt. Snch is not now
the case. Aided by the facilities afforded by the banks,
mere credit has become loo commonly the basis Of trade.
Many Of the banks themselves, not content with largely
stimulating this system, among others, have usurpcd
the business, while they impair the stability Of the mcr-
clnLtip community. 4 NCN ave bpCnTUc DprEDN tTS, IN
stead of lenders; they establish their agencies abroad;
they deal largely in stocks and merchandise; they en-
courage the issue of State securities, until the foreign
market is @lutted with them, and unsatisicd with the
IL gJtiinate use of their own capital, and the exercise Of
,leir lawful privileges; they raise by large loans addi-
tional means for every variety nf speculation. The dis
as;crs attendant on this deviation from the former course
Of business in this country, are now shared alike by
banks and individuals, to an extent of which there is,
perhaps, no previous example in the annals of our coun-
fry Ga lpnu as n WILLINGNESS uf thr fprciun lpuipr
and n sufficient export of our productions to meet any
necessary partial payment, leave the flow of credit un-
disturbed, all appears to be prosperous; but, as soon as
it is checked by any hesitation abroad, or by any ina.
bility TO make payment there in our productions, the
evils Of the system are discloscd-lhe paper currency,
which might serve for domestic purposes, is useless to
pay the debt due in Europe. Gold and silver are there
fore drawn i'll exchange for their notes from the banks,
TO keep up their supply Of coin. Their institutions
arc obliged TO call upon their own debtors, who
pay them principally in their own no;cs, which are as
unavailable 10 them rs they are to the merchants, to
meet the foreign demand. The calls Of the banks,
therefore, in such emergencies Of necessity, exceed
that demand and produce a CORES pondinr curtailmcnt
of their accommodations and Of the currency at the
very moment when the state Of trade renders it most
inconvcnicnt 10 be borne. The intensity of this pres
sure on the community is in proportion TO the previous
liability of credit and consequent expansions of the cur
rency-forccd sales of property are made at the time
when the means of purchasing are most reduced, and
the worst calamities to individuals are only ut last ar
rested by an open violation of their obligations by the
banks-a refusal 10 pay specie for their notes and an
imposition upon the community of a fluctuatlng and
deprecated currency.
Nor is it to be overlooked that there exists a chain OF
necessary dependence among these institutions which
obllges them TO a great extent TO follow the course OF
others, Notwithstanding its injustice to their own lminc-
date creditors, or injury TO this particular community
in which they are placed, and the dependence OF nine-
tenths of the banks centres on those of the Eastern CT
ties, and the dependence of those of the Eastern cities
centres on those across the Atlantic, London or some
other European city; consequently, the banks of the IN
terror of the country arc tributary TO more or less ex-
tent TO those of the Eastern cities, and those of the
East are tributary TO those monied institutions of Eu-
rope. If one link of the Bank of England gives way,
the shock shakes the monetary system of America
to the centre. a knowledge Of these facts impresscs
my mind with a thorough conviction of the benefits
that would of course arise from the divorce of the Co.
vernment from Banks.
will here make a passing a!lusion to some of the
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