Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1841-12-13

'"a' ltS Will DC compelled, without further struggle,
To close their DOORS and TO begin at To sci then hon
scs in er--whdrawing rapidly their notes from
circulation, the redeem which they will be com
PEELED 10 sacrifice their debtors whose property
will be sold, under the hammer OF the sheriff. at
prices reduced by the reduction oil the currency in the
first place. and in the by the vast amount thrown
into market by this suicidal operation. Others. not
debtors the Banks but Indebted To those who are will
feel the blow with equal force. None. however pru
dent or however economical he may have boen except
those who have money to lend, and who will swarm
Ike vultures over dead carcase escape the
qucnccs oihc universal shock Gov Rutherford lnfu
enccd by knowledge of this fact recommends caution
and orbcaance and the Legislature Of the vital
importance Of guarding against the recurrence of another
suspension which be the consequence OF another
premature resumption. 1t remains to be VIVA, eff
feet will be produced by his recommendation upon his
political friends in the Legislature think may safely
say, that the Wing members entirely willing To leave
the disposition of the whole subject their wisdom and
discretion II they Determined III the spirit of Shy
lock, the pound of flesh, be theirs the RESPONSE
bility II the victim die under the operation Ii is time
that thi. question of Banking aud Currency than which
be more important delicate shall cease 10 be
used as stalking horse of party. The Wings have
to appear. by the arts OF their opponents. as the
advocates of lnconvcrtlble paper money They do
not, and never have occupied that ground If they
have sustained the Banks. and generally concur
red in measures for their relief. it is not because
they have been especially interested IN the fate of those
institutions but because they knew that ntheablity to
maintain themselves involved only the Interests
of the Commonwealth, bu, the welfare Of its citizens
Ii, Il
whichlhcy believe will in crushing the Banks impair the
ability Of the Commonwealth, which is a large stock
holder in those institutions, engagements
whilst it will oycwacm the people in distress and NUN
But if the Loco Focos thiak differently if they believe
haiby opening the vaults of the rants they will break
down privilege monopoly, which al.ea:ng upon the
substance of the people, and restore that Gottsa Ice
which they have been promising nearly long Moss
promised to the lsraelitcs glimpse of the Promised
Land,t in word, they really believe they can pros
ratc, materially fetter the Banks without innclino
vital wound upon the prosperity of the couniry-lc,
them strike the blow The Wings, while they are vii
ling to operate with them in averting the mischief will
not assume an aago1is position to them upon this qlcs
ton, in order that they may ENJOY the personal benefit of
the policy of t1rbcarance while they reap the political ad
vanagcs that result from branding the friends of that
policy as the champions of chartered monopoes aud the
advocates Of irrcdeemabe paper The question is in
their own hands. Let them decide IT.
The Lieutenant Governor it will be seon advocates
separation Of Bank and Stae-n other words that the
State shall possible cease 10 be stakeholder
in those institutions. subscribe To the reasoning
upon which he bases his cconmendaon-whlch is. in
substance. that if the State were not stakeholder she
would be more rigid in enforcing the penalties incurred
I ,,.tl init t,,ti,,, G.,
the State andthe People qfe State pssoss separate and
distinct interests, else, if their interests be- az they
certainly are, Identical that the Legislature 50 that il
can protect the one, may be regardless of the other
Id this to be most herctca and anti republican scn
mcn-onc perfectly congcnia with despotism. but
wholly roconeiliablo with the elementary principle of
popular institutions. The laws OF free State ought to
be made especially in reference the necessities of the
people; and as it is impossible for the State itself to su
fer dcrmcnt without lis hunblcst citizen feeling the
wound, the other hand no calamity can bcia the
people, from the effects of which The State can he OK
cmpt 1.-THE depreciation Of the value Of Bank Stock
would diminish the resources of the State by DESTROYING
its dividend the same policy which leads that result
would affect every citizen by diminishing his ability to
supply the deficiency Our position is, that the policy
Of the State ought be dictated by the welfare of the
P'"Ilu ''i ""'h 'heS pioSpci inc government, 10y
which The STATE is mcant) must prosper also as must
decline with then impovershmon Despite governments
indeed my riot in spendor and luxury while the people
ground to dust and ashcs-Nay nohnpis more com
mon or natural for they have common bond of sym
pathy dependence, but occupy the relation ohe plum
derer and the plundered Blu, not 50 with us here The
people and The Government are one and ndiysble-
They share each in the others prosperity or adversy
You cannot takc care OF the government" without ia
king care Of the people, except indeed by ninsing the
elements of dcsposm into the very heart of our sys
TEN. This is the ground of our opposition to the Sub
Treasury 1t dssoves the connection which ,xisis be-
the State and its citizens 1t breaks the bond of
sympathy which unltes them in a common destiny 1t
arrays them against each other antagonists instead of
blending them into one 1t enables the one to protect
itself from evils to which it leaves the other exposed
It presents its results that form of tyranny in
which the Government abounds in wealth. while the
people impoverished We 60, then, acailst the prin
cipc of drorcc both in the State and Federal govern
mons. II the connection between the government am
the banking system lead to perncious results it is be
cause that system itself roon and if it be- let it be de
stroycd But let there be divorce if that divorce tend
to dissolve the ties that bind the people and the State to
gether for veal or for woe
But find that am running far ahead of my space as
well as yours, and have only say that the Lieu
tenant Governors remarks the subjects of Internal In