The Camden journal. [volume] (Camden, S.C.) 1836-1851, 1841-01-06
SOUTH CAROLINA LEGISLATURE.
ReDorts of the Committee ON Federal he-

Message of his Excellency the Governor,
NJ rs relates to the election of Prcsl-
sident Of the United States, the construc-
tion Of the Constitution, and the future
arrangements as to the Tariff of duties
on IMPORTS, have had the same under con-
sideration, and the subjects may be d.
yided and considered into the following
heads: :.
lst. The propriety of South Carolina
uniting in the election of President ana
Vice President especially when, by so DO
ing, she will give expression to her true
principles. a.,
I'd. The causes which have led to the
overthrow of the administration OF Mr;
Van Buren, whose policy and avowed
nr;nciples of action are in accordance
with the doctrines maintained by this
State. This head will properly embrace
an inquiry into the pecuniary embarrass-
ments which have induced the people to
lend a willing ear to those misrepresenta-
tions which have contributed to the sue.
cess of the opposition. The policy and
cYnstitutionality of Bank, chartered by
the United States. The causes Of that
combination of the different elements
which united to produce a change OF ad-
ministration. The dscordant character
Of thos, clemens. The security which
the avowed policy Of the administration
afforded to the peculiar interests and IN
stitutions of the South; and the strange
delusion which has distracted SO many OF
the Southern States, and led them to
unite and make common cause with par
ties. whose avowed principles are at war
with the best interests OF the South
And lastly, the confident expectation that
a dayelopement of the inconsistent inter-
est and views of this coalition, will in the
end yindicate the wisdom and policy OF
the democratic administration.
Sd. The growing corruption of our re-
d,ral Elections.
4th. The Resolutions from Connecticut,
relating to Tariff of Protection.
Uoou the first matter, your COMMITTEE,
concur with his Excellency, that every
State in the Union is bound to unite III
the Federal Elections, Without regard to
the fact, whether the successful candidate
agrees with us or not, for candidates can
ALWAYS be found, whose principles and
character will we'll merit such all expreS
sion of approval: and the conduct ct the
State, at the present Session, has !'ljtra'
ted the propriely Of such course.
Second. The complicated difficulties
which embarrass our momentary affairs,
arise from the pei sersion of Banks, to
purposes wholly incompatible with a
sound circulation, and an utter disregard
to the elementary principles Of Banking:
No idea is more fallacious than the belief
that an abundant circulating medium in
creases the real value of property. The
kindly fruits of the earth and human la
bour, bestowed in adapting materials in
their original state to the use OF man, are
the only sources of wealth and trade, or
commerce, consist simply in the ex.
change of them. Barter is rendered
more convenient by fixing on some one
article OF exchange as an universal pIo
perty, exchangeable for every other, and
this is called money. Gold and silver,
have, by general consent, become that
universal property, SO that he who has
it, may exchange it for whatever other
properly he wants. Thus, if man has
an OK to spare, and wants horse, he sells
his OK for gold or silver, and then he ex-
changes that for a horse. This is trade
and the use Of money. 1t is clear then,
that money must be itself valuable. 1t
costs labor to procure it. 1t is useful for
furniture and the arts. So that money
only facilitates batter, by being exchange
bic for all rticlcs. No more money then
is needed, than is sufficient for that pur-
pose, and to thus facilitate all the ex-
changes Of community. Wherever a
countl ! has more money than it will Eot
Il 1se, if unsuccessful, more than fourth
of the amount embarked in the enter
prize. In word money is only ma
chine to circulate property, and paper
costing little or nothing, is cheaper ma
chine, but it always supposes its redemp-
ton in coin unquestionable. These are
the legitimate uses of Banks. They are
not designed to loan money to govern
ment, and when employed for that pur-
pose II is q fraud unnn tho peoD1e and