Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1840-02-17
4 .sp'AtAs..
From The Nadisonian.
THE GREAT QUESTION OF TIE DAY.

/ if hhEAl ttES ION oF lie DAY
". take great pleasure in laying belore orr rea
ders the suhioned extract of a letter from a disin
/ guished and learned gentleman in Virginia, To n Re
preventative IN Congress from that State. The au
| thor has bestowed much attention upon the great
financial question which has divided the country and
has before given to the pubic, of the most pow
etinl arguments that has been delivered against
the SnbTreasu,y scheme. The writer is no PAR
tisan-he is aeof hom the influence of party. u d
iofiier sphere, aud his views should, therefore
have the more weight with the candid OF his country
men.
We proud to be the organ of communicat.
iag 10 tie public, document of SO much ability aud
value.
! TrE PRrstpEHr's MESSAGE. Tnr Sun. TnrAsu-
EY.-OrERArIoNs OF BANNING. Tnr Bnlr,su
AND AMERICAN TRADE. CorroN BUSINESS
CAUSES OF CoNvuLsIoNs.
SIR :-You have done me too much honor in at
/ taching importance TO my views upon the great
financial subject which now agltaes our couutry
and am but TOO sure that no remark which | may
make ON that portion of the Presidents message re-
latng In banks and the currency, upon which you
ask nv views, can possibly convey any Information
which YOU NAV not now possess. eNfnbti the sub
jet in any light which may not be already familiar to
/ s..
ask for opinion, viii candidly communicate il to
YOU however httie il NAV be worth. | shall there
fore confne myself to such views have been sug-
cesed by the general impression left on my mind
from reading the message.
am willing TO concedc that the views OF the Pre-
sident The currency, have been stated with great
ingenuity aud plauslbty and that they are caltu!a-
ted 10 produce a deep impression on the popular
mind. But whilst admit this uiuch, must be per.
United 10 sly HAT am Gar from considering them as
lust or tfue-his argument is more spectous than
solid more sophstlca than liue it stops half way
in lis ACKNOWLEDGEMENTS TO the mind dextetuus
grouping of ruth and error, aud consequently I'M
POSES on the lndscrimnating portion Of ne conmu-
nity from The lcul Of separating ihe Que from the
other Upon subject Like that OF the cunency,thc
great mass Of The coinmuny unaequantcd nh
those principles of political ecnuo ny upon which 1t
depends are obj ed to Judge almost entirely by APP
parent results they LOOK to the action oiihc iune
diate arr nts around them without the capacii, of
u( seeing beyond, those cp seated causes whio h
have called them Into operation in tracing ont the
chain of eausation. they constantly conlound
conjunction Of events with cause and elect and
they are but To apt to form their opnous upon such
a complex question, fl ON the impression made upon
the confused mind by a few striking polnls rather
than from careful examination Of all The parts
Hence il is, that The plpnlar judgment, Tor winch ]
have generally the highest respect because founded
on honest intentions, is not ordinarily 10 be relied on
comrltxny. It's apIio be biased by paral views or
10 miscal.uate suits from The Want Ol clear coin
p,ehens oa OF all the causes IN action. Now, sit al
honob have 10 doubt that the L resident Ia the late
- essape has exprcsscd the deep coby .ction Of his
mind ia, no one can doubt the honesty oil his belief
in rec ar1 10 the Sub-Treasuty policv ,eI must
thar The line of argument by whch lle has sustained
himself seems To me TO be better ac ulated iot c
unnn those Who have not the means OF obtaining in
siinc.ion on this deep and complex question, than for
inrarlinp satisfaction to the rtnectng aud dsciln-
natinr-ii is helier calculated to rivet error on the
minds Of the uDdsc Eliminating uass rlan 10 operate
ytction on the ,nlighcnrd few. II is q much
more ingenious defence Of popular prejudice. than u
scientific xposltiun of the great subjects under re-
view. | have been particularly IMPRESSED with lhs
character OF the me ce from the unf manner in
who II he has treated OF the backing question from
The most unc6nseauential conclusion which he
seems To have drawn in favor Of the Sub Treasury,
from the operation of tie State debts aud from the
manner in which he has urged the present financial
crsls as an argument favor U his cherished plans.
hmm each Of these heads, | will maae few ie-
marks
A., so,,v IN see that the Preside nj seems to have
flIen into the popular error of charging our com
,,a,cal re II Ision, ON the banks Thu uplnsruc ed
nersons shoud do this is not TO be wondered atthey
i.ok alone Al the prominent, tile most conspicuous
,a,s nj The cred 3, 81, M and hold them
ia, all the evils of The syste merely because they
are incapable of penetrating beyol d 10 those deet
seated causes " hch may he at Tie bottom. Ii is foi
Tins reasou during The middle ages that almost ey-
~ commercial reyulslon was charged upon the Jews
who were The great money Lenders of Europe, and
hence an additional for The barbarous ueat-