The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1841-11-25
. THE CURRENCY QUESTION.

We clip the subjoined cheering article from the
NO. Advertiser, and we think the bright era SO vi
wildly depicted will surely come and be as free from
spot or bemsh as the editor anticipates. Some
such institution is needed by the country, aud
the President, we have every reason to believe,
will exert his energies to the utmost to supply
all the real wants of the country. His first du-
" is to defend the Constitution against every
species of violation, and then to recommend
such measures as will promote the welfare and
happiness Of the people. Those who know
him well, know that he will DO HIS DUTY
eve must look to the establishment by the General
Government of aspecie paying institution, which will
in its operations discredt the bills of all State banks
that shall persist in refusing to pay Such nstitu
ton will as sure as John Tyler is President Of the
U nted States be created-not institution of the
same nature and tendencies those whose vices it
will be called to correct but institution that will
know sympathies feel nome for the privileged
whose abuses have plunged the country
into ruin and desolation, and overturned the standard
Of honesty and good morals. Thank God such an
institution has been contrved by the wise and honest
heads of the Government, an institution that will
command the support Of all honest men-that will
bruse the head OF the hydra of privileged banking
that will conne private corporations holding charters
from the State Governments TO their legitimate sphere
Of action--that will furnish national currency in
abundance for the wants of the peope-that will be
at all times responsible TO the constituency Of the
,ion through their immediate representatives. II is
to this institution look TO achieve the purifca-
ton of the currency, TO bring il back to the specie
standard, and to finish what the bankrupt law shall
leave undone. And when this task is once performed
it will remain for the General Government TO include
banks in the bankrupt law, to make it uniform act,
which it is not now, and then country will pre-
sent enviable spectacle to the world in currency
matters 1t will exhibit uniform bankrupt law,
haven of rest for the unfortunate but place oftor-
ture for the swindler will exhibit the State banks
of the Union revolving in their appropriate spheres,
obeying more the impulses Of honesty and occu-
Tying the same ground with the humblest individual
each amenabe to the laws it will exhibit national
institution endowed with sufficient power TO prevent
the State banks from debasing the currency by
sive paper issuesan institution furnishir uniform
convertible paper medium for the public wants, and
collecting keeping and disbursng the public revenue
free of expense to the Government; it will exhibit a
people once more pursuing the even tenor of their
way, free from the danger OF variable values assang
eternally their labor and their industry.
Such is the path marked out fol the destiny OF
this nation and before the end Of honest John Tylers
administration, shall have entered upon that path
rejoicing in renewed strength and escape from
the dangers of the past"