Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1841-11-09
TwENTY-sEyENTII CoNGREss--Is, Session.

disbursement mi of The public revenue, and provide
for The punishment OF embcz1lcrs of public money,
and for other. purposes
Mr. Speaker cannot permit al occasion ike the
present, although Unexpected II me, TO pass by
without availng myself of the opportunity il s;fJds
To submit 10 the consideration of the House II
ilectons that have occurred 10 my mind upon rect
affecting 20 deeply the institutions and interests lhs
country.
On yesterday, when the bin In establish the fiscal
Bank of the Y. 5. passed this House. il seemed be
Inc general understanding, without exception $50 lar
as Knew That there would be attempt to take up
the bill under consideration until some period during
tic coming wcek-,o be designated with reference
the convenience ofmenlbers generay--many Of whom
arc now absent, and most OF whom desire little
iiEe Tor relaxation. The concave deliberations nf the
night, however, have decreed otherwise and
little surprised few moments since, when al ef hay
'ng been absent during the morning hour viii.
I" give some attention 10 the numerous matters oi rr.
yatr lnleres. committed to my charge By portion Of
my constituents found That, under resolution adopt
eG Nv The House this morning, the I'LL under consde
ration had been taken ont Of the Committee Of The
Whole, aud brought here for immediate action. Wih
all The tune and opportunity could desire II qualify
myself for the task OF addressing this House. should
have abundant for hesitation in the attempt
Much more, sir under such circumstances exist al
this moment, do feel that hesitation, and the embar
i rassment growing out OF IL.
The bill under consideration proposes TO abrogae the
II Independent Treasury SYSTEM 1t IS more COM
monty denominatcd, the Sub Treasury system.
4 consider it unfortunate for the country, as have
done from the commencement of the discussion Of Tins
great Of reform, that il IS lis fate To he decided
upon and disposed Of by Legislature acing under The
influence Of strongly excited party irelingsiec!:ngs
winch 10 10 have had their origin more IN car.
cumsances growing out Of the ambition and c"nisn-
tons of aspiranis power than IN deep ana sincere
convictions of public interest.
Separate il from the patty eScltemcn's OF The day,
and permit address Itself 10 The sober sense, The
justice and patriotism of all partesof the whole corn.
try-and doubt most sincerely whether there would
be found solitary thinking man, with justice and pat.
riosm in his heart who, under full comprehension OF
It's merits, would deny either the wisdom OF lii prn-
ciples, or the justice uf It's purposes.
The great purpose and aim IL the Independent 1r'a-
sury system reasset and establish The principles
Of The Constitution; principles whose strict conformity
with the Constitulion-aye, Sir, whose composite IS
GIth at INSTRUMENT las never heen denItd ana
IS undcnahe. The fiscal action OF The Federal TO-
recommendation the period when first connected Il
sell tn and adopted The barking s:aleE IN tie fs,a
hshncnt of the first Bank Of the L. = III l1.jl and al
the State Governments in following out and indeed go
ing The greatest beyond The example OF that
GOvcrnnIen-hnd been n war with those principles
The disastrous evils which afflicted the country al
many memorable periods III lis history. and The GER
ainty Of rndin. Of those evils, were
regarded the natural and unavoidable results Of such
departure from the principles Of The constitutional AND
who will DENY that the nisortunes of the country al
aud Guyernment-are consequences 10 be attributed TO
the same source:
twas. therefore. deemed the duty Of the Govern.
nrnt 10 10 tie principles oil The Constitution
and through the nslrumrnlaiy Of the Independent /,
Treasury system, to bring the whole weight and N.
uencc of its fiscal action TO bear IN their re estaDsh
mrnt
The distinctive, essential principles Of this system
arc
fIrs.. The separation Of the pecuniary transactions
If from he upcl
banks and individuals.
SccOndiu The recognition and maintenance OF me
gold and silver standard Of value designed TO be esa-
blisled and perpeinatd b. The Constitution
Third The protection, by severe penalties and am
pie guarantees Of Tire funds ol The Government rom
peculatinn and enlightenment
These are The elements OF the system-ih their ia
ture simple, Just, and constitutional
Now Sir IN all canGnr and sincerity, permit me 10
ask is there a man upon tins floor who advocates The
doctrine that the money the Government, raised from
the taxes levied upon the people, should be used 10
provide banks will, capital to bank upon, or individuals
with facilities to trane upon! Separating me su'lrc,
from the party topics and associations oil the day, ahe
guided BY the impartial dictates oil conscience anu r."
irotisln will any nanean any man contend that the
money Of the Government the proceeds OF The LABOR {"
the people levied by taxation 10 drfray the anu
afford them the protection OF Government, shou" W
anv policy or under any system, he involved IN inc ma
Yards Of individual enterprise and specnat"n or mace
, ,,,pd for hank laus and bank issues? VIII any one
aver after all that has occurred within our knowledge"
that the individual appointed I" lake care :" ue pun
money should be perniued-nay, ehcou'aseu-",' -"
NAV i N his private transactions, in loans to others:
and il not individuals that banks should be permitted
10 enjoy privilege so dangerous, 50 nnJnsi anu IN
constitutional?
Anort from The preiudces Of party, which, unhapP
IT, 50 often influence the conduct nj men against ihe'
judgments, | do not believe there are those mere
snre am that there ID considerable portion Of the
m.ss of tho neople-who would sanction such doc
rine And vet, Sir deny to individuals and BANKS
this prvile re- aud adopt The necessary GUARDS LOT '
nro,ect;ou IL the country from The consequences 81 Us
,,e-c,sas were amongst The leading purposes {" Inc
Indepcn drnt Treasury system, and line strongest c"'
darai;ous that contributed 10 It's adoption Nay We
M, hon, that when the violence OF party stre SUD
sides and resumes rs W"nfu SMas "'si ~
nuhc mind The advancing intelligence 81 The age i'
creasng power Of truth ana justice, WIN s1"' H.
cv % evidently JUST from the prejudice and
which ambition cupidity and pariizan iai'acish ha'
nnndercd AGAINST II: To doubt it, would be u d"ih
he ultimate triumph OF moral v'Ttae and Tree ias'u
/ tons. - ;, , \: intimate, l.,
,ood Nth the currency, or nancy III The country;
d !, il from this connection that the subject derives
tLe very great and deep interest WIN "h'ch - s''''S
II hc universally regarded. Let Us advert Tor mo-
ment la The doctrines ct the Constitution upon '"'7 "
,,res,ino part Of tine sni,ject
The fifth clause OF The Sth sectoh o. tue ~ "''s
re ads follows -
THE Congress shall have power TO coin money re-
guia,e the value thereof and Of foreign conn., and Tx lie
standard of weights and measures
was forcbly struck, few days since, by The inter-
pre- ,nton put npon this clause by gentlemen from ,r
gnia (slr Eos his speech upo" the bill to es,nO
ish the Fiscal Bank From language SO in,eli's'ois
terms go explicit ha deduced conclusions "h'" u OF
abstrnctions have before heard or read seemed
10 me 10 be the most absurd,he most supremacy r,d
culous ! quote from the remarks made By him. US ioi
| lows:
"But pass on to the fifth clause, when gives 'nr
mower SO coin uousu ane regulate the valne thereof
| and of foreign coin Upon this power wish TO dwell
while and FIRST, desire to call attention to the Pc
cuar phraseoogy Of this clause: It is not to stump
coia and regulate the value thereof; hut TO roh mr.
e md REGULATE the value thereof and Of forftga eotn
lie. us, IN the first place. ascertain what money IS
maintain that whatever receives the stamp OF
Of Government rs money, and IS received ID pay'nrn'
IF public dues, and passes from hand 10 hana as mo,
,ar-vha,ever composes The circulating medium Of
counry-is money, to all ntenis and purposes ah'