The daily Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1841-1845, 1841-12-22

I We ought TO add to this Sum, perhaps IN
same per cent. for depreciation, and the incohV'
nience and vexation attending u, spreciauoh'
we should thus double the amount, 1t woul
stand thus, Sl4574s.
Here It will appear then that $l45,7 70 a.
levied upon the people contrary to law, an
therefore fraudulenlly. And yet such state
lhlngs Is permitted to exist because of the pow
eriul influence of the banks, secret and open,
with no authority exercised TO call them to ac-
count.
suppose the inhabitants Of New Jersey were
taxed directly with this amount OF $l45,7 an
nually, for the avowed purpose of pensioning
the stockholders, directors and spectators OF
these specie suspending banks would they sub
NIT 10 il ? II such tax were levied and at
tempted TO be collected, would il not call for I'M
qualified and universal resistance Would il
not produce bloodshed, and cause a revolution
Was there ever any thing in point OF the enor-
NIFTY OF exlorton, practisedby the mother coun-
try towards her American colonies, that equal
led this illegal and oppressive subsidy
Why then should New Jersey suffer such a
state of things any longer2 Why not set an
example to the other specie-suspending States,
by making an example Of her own State banks,
by calling them 10 account
New Jersey, Of all States in the Union, should
not permit such state Of things 10 exist a mo
ment longer within her jurisdiction.
There are other specie-suspendng States.
with enormous debts, and almost ncalculable
embarrassment, that may be excused in some
degree for their inability 10 furnish sound cur
lrency But what excuse can New Jersey fur
nish
The time is APPROACHING we trust, when spu
rious currency will not muchlonger be tolerated.:
when The public will examine their accounts
with banks, and their baseless currency, and see
with surprise how enormously they have been
taxed by Institutions, that under the pretence OF
accommodating the public. have only tieeced
the people, and done more 10 produce the gene
raj prostratlon Of business, that the country now
endures, than all the folly and misrule of all The
administrations, State or Federal
This county must have a sound National cur
rency based upon specie dollar for dollar, or she
will in vain look for the restoration Of her pros.
perity.
Whatever may be the rights OF the States of
exercising control over their Banks, and permit
ting them TO circulate base and worthless cur
rency there can be no doubt thai the Federal
Government has a right to emit a paper cur
rency based upon an equal amount Of gold and
silrer coin and bullion, furnished by the people
co. Et 81 ia. ID. 4
there should be the least constitutional doubt on
this subject, il could be easily removed by speci-
fcally making such a national currency tribu-
tary source ofrevenue for the support Of The Go
vernment, by charging a small per cent. on all
amounts of bills issued-even one-ionr h or 6(tl
the country.
The Government has an undoubted right to
raise revenue with such means and the time
is coming, we trust, when il will be exercised
! II the public convenience and welfare call for it.
The --latest Case Of Forgery in Neic York The
Journal of Commerce has the following farther part
cuars OF the lorgeres perpetrated by Kirk of,he firm
Of Kirk & Johnston
The firm of Kirk & Johnston have been doing b,-
sness as grocers and commission merchants for some
years in Front street. and Mr. John Johnston OF the
great house OF Boorman Johnston & Co. from some
friendly feelings towards the firm has endorsed their
paper to small amount
IL turns out now, that Kirk & Johnston have passed
their own paper within few weeks with the endorse
ment Of John Johnston forged UPON it 10 an amount
already asccrtaned of S55 600.
The great responsibility of the endorsement enabled
them very readily to obtain the money for the paper at
the banks and elsewhere and il is quite likely that