The Middlebury people's press. [volume] (Middlebury, Vt.) 1841-1843, 1841-07-27
NATIONAL RANK

| might say, with truth, that the bank owes as
much to HE as to any other individual in The
country and mi ht even add that had IL not
been for my Efforts ii lcouLd not hare been charter
ed
| must content myself with saying that, hav-
ing been on the polite alstage without Interrupt
lion from that day TO this, ha ring been an at en-
tive observer OF the question of the currency
throughout the whole period, The bank has been
an indispensable agent in The restoration of
specie payments; that without it the restoration
could not have been effected short of the utter
prostitution Of all The money ed institutions of tie
country. AMI an entire deprecIa ion of bank paper
and that it has rot only restored specie pay
meats, Ut hns gireR acmTeacy far more uaijoyn
between the eriremrS Of The country, han was
antlc patcd or ever dreamed Of at the time Of $
creation. SPEECH OF JoHN 6. CaLYouy IN
1892.
lis, however, essential II every modification
OF the finances, that The benefits IF an unifurm
national currency should be restored To the conf
mu,'ty. The absence Of the prec ions metals
VIII, II Is believed, De temporary evil but I'M
I'll they can again be rendered The general me-
dun OF exchange, it devnlves on the wisdom of
Congress 10 provide subs; Iute which shall
equally engage the confidence and accommodate
the wants of the citizens through The Union. If
the operation OF the Sale Banks cannot produce
Bank will merit consideration aud if neither of
these expedients BE- deemed elit ctual, il may he
necessary 10 ascertain the terms upon which the
notes "i he Government (nO longer required as
an instrument of credit shall be issued upon mo-
ives oil general policy, as common medium of
cmcularion."-.Wr. .Nddisoa's Message 10 Con-
gress in 1915.
But for the interest of the community at large
as well as for the purpose of the treasury. il is
essential that the Nation should possess a cur
rency oil equal value. credit and use wherever il
may circulate. The Constitution has entrusted
Congress exclusively, with thepower of creating
and regulating currency of that description.
and The measures taken during the last session
In execution OF the power, give every promise
of success. The Bank of the United States
has ibeen organized under auspices the mosl
favorable, and cannot fail to be an important
auxiliary To those mea,ures.n--.ur. .hadisou's
Message 10 Congress in 1916.
II such an Institution is deemed essential 10
the fiscal operations of the government submit
tn the wisdom Of the Legislature whether a
.NI1IO.N.7L ONE, funded upon The credit
OF the Government and its revenues might not
be deTsed which would avoid all constitutional
dItheultles, and at the same time secure all the
advantages 10 the Government and the country
that are expected TO result from the present
Bank.-Gen. Jackson's first .Nessage.
In the spirit Of improvement and compromise
which distinguishes our country ant lis ln>titu.
tons, it becomes US to enquire, whether it be ne;
possible TO secure the advantages aft ,rded by the
present Be- nix, thr augh the agency of a Bank of
the United STATES, SO modified in lis principles
and structure as TO obviste constitui ional and
other objection. 1t is thought practicable TO
organize such Bank, with the necessary Of
6cers, and branches of the Treasury department,
based on the public and individual deoosites In
times of public emergency the CAPACITIES of such
an institution might be enlarged by legislative
provisions.-GEN. JAcKsoN's SECOND ANNUAL
MESSAGE.
That Bank Of the United States, competent
to all the duties which may be required by the
government, might be so organized as not to in