Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1840-03-31
POLITICAL.
LETTER OF GEORGE W. HOPKINS, Of Rnsseii
To Colonel James II. Piper, Of Wyhe.
CRY OF WASHINGTON, March Is, 1870

LETTER OF GEORGE W. HOPKINS, Of Russeu,
TO Colonel Jamcs II. Piper, Of Wphe.
Cry OF WAsHIsGToS, March 10, 1910.
Col JAS. Fl. PIPER:
My dear Sir-Your letter, which solics the express
sion Of my opinions about the great political parties
that agitete the country, was lately received.
Our private and political relations; my respect for
your character and honorable intentions; and my aver
sion to conceal any opinions that my constituents may
desire TO know, all induce me, with promptitude and
frankness, to satisfy your DESIRE and to assign,
shall proceed do Of the prominent reasons
which persuade TO support the present admnistra-
ton of the General Government
Since had the honor to serve in the Congress OF
the United States have honestly endeavored to sus-
tain those great public principles only, which the Con-
suon sanctions and which Jefferson and his coadlu.
tors in politics made practically prevalent among us
And while every days experience confirms the wisdom
and utility Of those opinions am that there
is any public action of ny life which indicates de
/ parture from them.
If on any Of the memorable measures Of public po-
Icy which vexed the public mind, have differed from
my political brethren, it was from dutlful solcltudc
to preserve unmpared that proud fabric of civil liberty
which was reared and consecrated by the mistaken
consistency of our greatest and Purest men.
The Conservative party, in the United States, was
avowedly formed for the maintenance of constltu-
tional principles; and in the hope and expectation TO
preserve to defeat those princ ples became mem
Der Of it. But, since the prominent men who reared
that party and gave the greatest force and direction to
it, have plunged into dangerous extremes, and now
openly countenance and support the public men and
public they lately opposed and rcprobaed,
feel constrained by prde-by the love of conssten-
CIV and public prncpe-to return to my old political
associates of the Democratic party and to cooperate
with them in the public cause.
The Independent Treasury measure, for the collec-
ton safe keeping and disbursement Of the public
venue, which Mr.. Van Buren, recommended at the
called session of Congress, i'll 1881 the only prom
nen measure of the President that have hitherto fail
ed to support ! never did consider that measure as
obnoxious to any constitutional objection Whatever.
BIT the thing and untrIcd; without the eXpe-
rence and example OF our ancestors, denounced BY
large portion oiy fellow citizens, and c"nccitedy
and violently opposed by the whole dynasty OF assoc
ated wealth. and by the banks especially, that was
constrained to look upon it with dstrus and fear. But
candor compes to acknowledge that the reasons tor
Presidential recommendation of the measure are IN
nv Judgment, more apparent and persuasive since the
repeated failure of the banks TO fulfil their fiscal en-
| gagements to the government
| In 1894, General Gordon of Virginia, Wing OF
rank character, and abilities, introduced into the Con
cress of the United States this celebrated measure
And then the great body of General Gordon political
CONDUCTORS Joined him in denouncing the State Banks
as improper repositories of the public funds and pre-
dicted that reliance of the Government upon them
would be disastrous to the national credit The friend
~ and liberal disposition which President Jackson and
| MIR. Van Buren, both manifested towards the State
Banks, met my cordial appreciation at the tme and,
owing to the circumstances of the country, | dis
posed under certain limitations and restrictions to
tinue my support Of the State Banks fiscal agents OF
Government, longer than many ofmy political friends
would agree to do. did not credit the prediction OF
the Wings in relation TO the Banks. And, even after
the wisdom of the prediction had been confirmed by the
memorable and disastrous experience ofevery State IN
the Union, still 10th to abandon the Banks; lest
in doing, might augment, rather than alleviate the
general disresses of the country My support OF those
institutions real and honest-not factous nor poll
teal But many of the politicians who had condemned
those State institutions in advance, suddenly dispced
their fears the very moment the Banks failed to pay
their debts in specie and then, for the first time, sup
ported the Banks the proper repositories OF the pub
lie funds or rather convenient engines, subservent
to their WILL and necessary to hoist their patrons into
power and place. Mr.. Clay himself, if mistake not,
openly declared in the Senate that his support OF them
was rather osensblc than rca and given IN the hope
and expectation that the continued and manifest m
competency of these State Institutions to fulfil their
engagements to the pubic would produce TIC ieoiPo
ration ola National Bank.
The fourth section of the act OF Congress OF the "a
September 1885, declares "thc Treasurer snail receive
and keep the public moneys of the u States, and ds-
burse the warrants drawn by the secretary
of the Treasury countersigned by the proper ofcer,
and recorded according to law. The only KIND OF
money which this law allowed the Treasurer TO receive
and keep money Of the legal currency OF the y.
States The United States Bank not then IN exist
ence and bank notes OF any KIND were CONSIDERED
N'SH'N&
stitution nor any law resolution of Congress, had
made them such. And yet in one month aiter the
passage of the act of l1-" - which have referred,
Alexander Hamilton, then Secretary of the Treasury,
issued Treasury order, authorizing oahk ho.eS 10 ce
received into the Treasury, in payment OF the public
dues This arbitrary order, issued as think, without
aulhc-;tv of law opened the way for gradua! ad-
mission into the Treasury, of variety of moneys, all
tending to confuse and to deprecate the legal currency
of the w. States.
2o,b ne hpril 1876 Congress resolved that no duties,
debts or sums of money payable to the w. States ought
10 be collected received otherwise than IN the ega
currency of the IT, States in Treasury notes. or IN
the notes of Banks winch pay ther hoes III Tue esai
currency Of the U. S.
The depose act of the 23d Of june 1886, authorized
the Secretary of the Treasury to select as repositories
of public moneys Banks convenient to the places where
the revenue was payable and dsbursable The depo-
site Banks were accordingly selected and required no
cJt =. specie all sums deposited therein, to the Gre
All ne the Treasurer Of the United States, and to pay
all checks warrants drafts drawn on such depostes
in SPECIE if required uy the holder thereof ouch
Banks were to be discontinued as repositories OF inc
revenue of the Government, on failing to redeem their
notes in specie.
And II must be admitted that in state OF profound
with all the nations of the earth the State banks
did in May 1887 simultaneously and concertediy pro-
claim TO the world that they could no longer discharge
their debts or fulfil their engagements to the Govern
mont and that President Van Buren, representing (as
his hgn Office and his oath required him to dS) the
credit the dignity and safety of the naton was forced
IN convene ConSress and disclose that important fact
to the representatives. Of the people end to remind
them Of the precarous condition Of our monetary at
fairs. and the necessity of providing efficient means
for the future preservation OF uheh.
In such crisis of the national credit as was produced
no The suspension of the Banks in 1857, all must CON
csd that The President cond only recommend 20 Con-
rress continuation of the State Banks as fiscal agents
of the General Government, or the establishment OF
National Bank for that purpose, the adoption OF legal
provisions for the future collection ana
disbursement of the national funds, through the med
nm of National Treasury, independent of the Banks
Tha prss;dont dceoed it unwise and dangerous to
the State Bank Opposite System, directly after
the notorious failure of the Banks to perform for the
Government obligations which were indispensable 70
the credit and security of the nation was
under such regulations as past e9pelpoe ~ tha,