Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-12-29

have already shown you that Il IS absolutely nee
TO the mercantile interests of the country; and Il
hen.6,s which ii confers cannot be reasonably ea
from any other source This consideration al
enough TO Justify il, in the present embarrassed
ton Of our money systems But mere - anothe
sderation equally strong. The object at which
aim. is better circulating medium than tie now
Treasury notes vii! undoubtedly form tia, bette.
um, if they ever can keep them IN circulation
cannot calculate that more than one-taird Of The
issued upon the revenue, viii be required tor pay
into the Treasury; and to this extent, and no
they will be kept in circulation. unless the fac
using them in exchanges should be gwen WI
facility, the whole issue viii be kept atoat,
form. far as II extends, a circulating medium
10 gold and silver all over the country. The q
that it will be better than gold and silver. Il
cult TO see how a better currency could be contrlv
1t appears to me, that this provision in The Press
plan is emnently wise and useful in another y
You will admit presume, tina: IT evnces resp
The States and for their constitutional rights and
ers, strictly in accordance with the Presidents ..
ed principles; and so far, at least, mus! be acc
bic to the State Rights school. But /, i also an
rable guard upon the whole system. Ii the syst
found TO work we'll and 10 produce n mischief
be left undisturbed; If il be found INJURIOUS IN il.
ration or dangerous in lis tendencies i ma be a!
or annulled by Congress, or b. each STATE N whi,
agency may happen TO be, 50 iaf az that State is
carneI. IL seems 10 me t.dL no p04tlE!cN. not
ally nervous can entertain ans fear Of the serious;
of system thus checked, guarded and controlled
There is, however, Mr. Editor, en- objection 4
whole plan, the force Of which myself paia!4.,
when il was first presented to nv mind, BIZ; yat
AN convinced, has 10 force "haiever. gu
cy established upon Government funds has :,
cenfraii-ing tendency, because II gives tile Go9ern
I con'roi Of the currency But this danger i eli
allv gcarded against III the present plan, - Tho
lYr4l Ia
Fifteen millions Is very i.ccasice:atle p.rt - I!
circulation Of tho L. s. 1t - sufficient illusion
purify and correct the entire currency, oai ie e!d
mass of that currency will still be afforded ~ ,ae Sa
Banks The tendency of the system i % b-.ar 5ac
those banks 10 specie payments, and thus > Ind.
their notes equivalent TO gold and silver "; Il
range OF their circulation Thus the eyil work ! -
cure. The control which the Government exofi. -.
Tho currency, so FAR IS furnished by Itself b.s.
into existence a rival currency, which wi! always IL
that control within safe limits
will not trouble you, SIR, with any further re,aas
You perceive tha. have proposed u discuss i
subject fully hut only TO presen, few topics er Is
own consideration; and ! have wished 10 81 ,A,s +,
cisely as would have done il IN familiar conver.aa,
at your firesde or my own. | do no; deal N comp
mcnts and you viii not suspect me o.. any such III
pose, when say, that attach high Importance
the influence Of: the Enquirer upon public opinion
Hence, rs am friendly 10 tie President and his !
minlsration and as really believe that he has p
scented scheme Of finance good, in every respect
we can reasonably hope 10 obtain, ! am very des:ro
that you and your readers should approve i. Athou
| condemn the ul,rasm Of some OF the leadin. men
the Democratic party upon this point, yet every .
must admit, that the watchful jealousy o. TINT par
has been chiefly instrumental in easing the public MI
If the Bank mania which had seized il, and which y
likely 10 involve the country IN irredecmable run.
Let them not, however, destroy the effect IL their pr
ciples by pushing them 10 extreme. The count
needs repose ard moderate coursss. The evil > h.
is felt is serious 10 be ,ed with; and the rene
which are to apply, mus; be found in the JOINT cou
sells of the temperate, the prudent, and tn, wise
parties. Y.