Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-11-20


muIity, through the agency OF inordna,e banking,
Doth in the United States and i'll Great Britain: Had
Mr. Webster the patience TO await the operation of the
Independent Treasury, lie would probably find that
the country from debility produced by
cess will feel all the enjoymens of renovated strength
from that simple and salutary remedy With our dear
bought experience, shall avoid, for time at least,
the pleasures OF overndulg ence, and with the aid of
bountifnl Providence, he restored 10 perfect
health While the country is recovering her natural
energies, under this innocent regimen, Mr.. Webster
tells assembled muttudes that the malady is imcu
rable, without change Of treatment, and change
OF doctors too When Harrison and Webster shall
be called in, they viii doubtless prescribe their
grand nostrum-a National Bank-a bank of fifty mil
lions captal-made up chiefly Of State bonds owned
abroad and OF foreign money-chariered for fifty years
or, III effect, in perpetuy bank to WELD the money
Of the people, well of the stockholders-with
high tariff TO fill md keep full its Golfers, and nu
ence in war and in peace, such as the Rothschilds
said TO have Of the Governments of Europe.
No distributions of surplus among the States VIII ,h.
estabshea Rn Tue great central monsyea power G M Gro
around it all the products of the labor and soil
South; which will give potent power to thcGosern-
mcnt when II acts with il, paralyze It when III oppo-
position; which may foster such State banks a. be-
come lis satellites, CRUSH those which net with m
dependence; which may expand and contract tnc
circulating medium MS may ssuit It's cupidty, Win.
out regard 10 the interest OF the community ANA
gravely and confidently proposed that this machine
shall be constructed under the ridiculous preiext Of
regulating the currency, to supplant the PLAIN, con-
sttutional scheme of collecting and disbursIng TIE
Of the United States, by officers amenah!e To
the laws and to the pcope-a scheme which leaves to
tho States the power and authority TO regulate their
own institutions they may seem proper and allows
the people 10 receive and pay each other IN whatso-
ever medium they may mutually agree On. Already
are our Southern the seabcard advancing IN
der the existing system. They will begin TO import
for themselves, and become shp-owncrs TO transport
our own products; but whenever great central pre-
ponderating bank shall be established and sustained by
the public money Of the l.. S., they must inevitably
wither and decaythc great producing States viii be-
come but the tributaries of New York or Phldelphia
we of the South have been kept down for fifty years
by artificial means and Governmental contrvances.
The funding system and the first Bank OF the United
States drew the Eoneycd capital from the agrIcui'"-
raj to the commercial States. The tariff followed, 10
subject us to the manufacturing interest Of the East,
and when Just about to shake of these shac-
kes, shall they again be vetted on US at the bidding
Of Daniel Webster: In the name "f justice II Inc
Constitution be violated the plea OF cxpedency,
BY granting corporations lei Congress authorize least
;hrGc independent banks preference 10 one great mo-
nonoy with different branches. Let not b. entirely
sacrificed. One in the North, one in the West, and
one in the South all under the regulations VIII
be equally competent to create and maintain UNIFORM
currency and viii equally serve TO keep IN check the
issues Of the State banks i'll their respective quarters OF
the country; and what will be Of still more consequence,
will serve 10 keep each other in check.
of paper credit and well-reguated system Of State
banks but as patriot and statesman he has portray
cd the evils arising from that excess IN their operations,
which leads dangerous bloatcd currency, and de
pendence foreign countries. lie is unwilling that
the fiscal concerns Of the General Government shai!
be subject TO the vicssitudes incident 10 great number
of banks over which Congress have control and 10
avoid that evil lie proposes dissolution oil Inc connec
h s s sa na their bank equal
10 specie BY making it at all times convertible, we snail
hear of the senselcss ciamor oil one currency
for the Government and another for the people. ne
State banks NAV then be used occasionally by the Go
yernment as by individuals for the purposes OF re-
mttances from one quarter of the country to another;
and when il shall once be understood, that the people
of any State which allows deprecated currency, Ike
individuals in bad credit pay more tor what they o"y,
and receive less for what they sell in the proportion OF
that depreciation, the proper corrective VIII soon DC ap
Piled and the controversy be at an end.
The abuses the part Of the great contractors, To
which Mr. Webster refers, are grossly exaggerated ny
him. 1t is well understood by the competitors Tor pup
lie contracts that they to be paid IN 9ocd money,
and the rates at which they taken are proportion
ably low. Those contractors may occaSiomaHy impose
on the laborers they employ by paying them III depre
cated currency, they may cheat them III any DINER
way but such laborers as are ,nel'senl anu
peneray know the difference between the value OF tho
paper they receive and Of specie and charge according
iy for their work it not in the power OF The Govern
ment in all cases. provide against fraud and impo
sition among individuals nor is It IFS duty
With regard to the wages OF labor that Is not regu-
lated by Government in any free country. Mr.. Web
scr related story at Saratoga about conversation.
with some man, shalt fisherman and hall farmer,
which probably amused part OF his audience, out
could not imposc on the intelligent part for moment
The nominal wares of labor may depend the cond'-
ton Of the currency where the WORK Is performed, ".
the real wages depend on supply and demand. L%e'f
is bnt commodity, bought and sold like merchandize
in the market The laborer sells his skill and services
M H. tar Hon
the Government has no more 70 do with The bargain,
Than it has with any other traffic between individuals;
but Mr. Webster, his zeal 10 condemn the Admins
tration, would have them to intermedde win every
prva,e transaction, and when they should do 50, he
would be the first 10 blame them He would maze
them responsible even FOR the low prices Proareed by
redundancy of crops and the absence oil foreign De
mand lie would have them to regulate the cu'Fen-
cy, the exchanges the wages oil ianof, ailu .say
else. instead Of leaving these things to the na'nrt
opcrations Of trade, and his great lever Is Na'.n"
nj Rank But what is still more remarkable s' u'as
the banking interest generally Is IN favor o. such al -
Enlistment The State Banks, Ike the frogs III ''
fable are calling out for king 10 govern them, iofsc.
linn; h,t when The stork comes their very existence IS
IN DANCER The great desidcrntn, however, IS 'he p"o
liz money TO rive National Bank the requisite FnwsI
WIN else will not the L. S. Bank Of PcnnED sam, no.
;f Ga " cap ,Yi possessed when authorizes ny Cor
rress with more extensive corporate PRIVILEGES, and
w,s rendered stronger, were told from hgh au,ho-
INV bv getting clear of the Government as trouble
s"m , y pa si 40, no. The Federal Wing P-r'y
political machine a3s and ,espe Ms s fer
his measure. and especially The people Of the South,
de political ho 5s%s, 's ss%s o5sa as 10
anis and wealth is formed Impatient under the mild
n snII gentle emu rays Of Republican hey
endeavorng to Fase the clouds Oh, .,
and direct the storm This is their aim; and # Their
work be consummated, how long this Union vii 1''
tooethcr unless bound by chains ofiron instead OF &c
inc cemented by the affections of the people, no M"
can tell
DRrArsRs AuEAp.-The Legislature OF vernon :
SAYS the Baltimore Sun, has passed res % cor
defining Congress for their action in the We" Jersey
In jaror Of Increasing he he T ,"sged from eye
~ Wing Legislature North of the Potomac
.s hGs5 sf sea sGssfss
iot g,''.s ,sd but this is the second attempt ct
ba g[ " 10 violate the sacred compact Of The
Constitution; I'VE published one last week. ana ..eS