New-York tribune., 1841-11-13
Hanks and Currency.

more thoroughly Of the impresnable soundness oil
the good old Wing ground that without National
Bank. or something equvaicn, TO it, this Country
can never enjoy the blessings Of sound, adequate
and uniform Currency. We may preach the adj
van,agcs of risidly Specie Currency Till dooms-
sev. suppress small Bills and all bills, go far as
law can ef.c, il, enact Sub Treasury laws and
hang up Bank Presidents to the lampposts, and
after all the actual circulating medium Of the
Country will consis, mainly of promises in some
form or other Danish all legal Paper Money,
and we shall have Illegal in It's stead of inferior
character and utility irresponsible and rredeem-
able shinplas,ers in place of the notes OF solvent
specie-paying Banks. The attempt to shut out
the tide of Paper Currency is as idle as to dam
Niagara. Close one avenue, and it rushes in with
redoubled force n, another. In fact, laws TO pre-
vent or rcpress the Of mere facility OF trade
TO say that shall not pay and another re-
ceive what they matually agree upon in a burgan-
can never answer any good purpose.
Paper Money, then, is form Of credit, facility
of traffic which must and will exist. Hostile legis-
latien can vita,e, but not suppress it. The only
nr,c,ical question is, How shall we secure the best
possible Currency of Paper and Specie? Legis-
lation canno, annhate Paper, but it may make it
vastly better or worse. And our conviction is
daily strengthened that the aim OF Legislation
should be 10 secure first, the certain and absolute
solvency and cenvertibilily of all the Paper Money
which may be issued and secondly, the uniformity
of such Circulation througbo the Country.
To these ends we believe National Bank,
acme agency performing the functions of Ma
,ional Bank, Indispensable. We could wish that
there were but one institution in the Country au-
thorized to issue Paper Money, and that the profits
Of such emission were to go into the Treasury OF
could be removed from the politics ana the more
intimately it could be associated with the substan-
tial business of the Country, the better should
like it. But, convinced that large proportion
of the People regard with prejudice, passion and
dislike any Nalicaal institution unJustly Suddling
il with the abuses merely Of its managers, but
even of its enemics--while another portion
weary and heart-sck Of the turmoil, the disap-
pontment, the fiuiilcss strife and the unjust OBJ
loouy to which the advocates of a National Bank
have been subjected, we are opposed 10 any new
agitation of the subject. Let submit with
grace to that state of things which unforeseen
lar will has brought upon US. Let Il National Bank
rest until the necessities of the People shall call
for it without distinction of party-until the mists
of party prejudice shall be dispelled by the clear
light of experience and truth. Meantime let us
offer no opposition to President Tyler's fscaity,
but give it trial, with the understanding that
Wing Congress can repeal it at the next session.
should it prove injurious to the public welfare.
But while we counsel submission TO what ap
pears inevitable, we ask the People universally to
realize and acknowledge that Currency Of
Bank Paper ,cithout any National regulation or
central energy isnot a WHO Currency, and that
the Wing party is no wise responsible thercior.
He was not IL Wing President who proposed, in de-
stroving National Bank, to furnish the People
better currency BY means of the State Banks
alone He was not Wing President whe de-
cared the State Banks alone fully adequate to
all the wants of the Government and Nation. The
whole train of events which has brought the Coun-
Try ia its present fiscal condition has been produced
in defiance of the Wings. We have resisted, ar
gued, cntrea,ed, predicting rottenness, bankrupt
cy and an rredeemabe Currency as the inevita-
bic fruits of the Executive measures Of the last
ten years. Unheeding our remonstrances, dead to
our arguments, the car of Juggernaut has rolled
on. Surely are not responsible for VIVA, it crush
es beneath its relentless wheels
If, therefore, the Currency shall grow worse in
stead OF be,ter-ifa Resumption in sne State shal.
be closely followed by Suspension in another-it
Bank explosions and rascslities shall become the
order of the day-if there is evinccd eventually
general distrust and ascredit of all Paper Money
we ask chose who have resisted and ,hwarted US
at every step to hold the Wing party guil,less in
the premises. They have not hesitated 10 take
the responsibility, let them meet its consequences
msnfully. 1t is hard enough that so large pro-
portion Of the intelligence and integrity OF the
Country should have no voice in directing It's imam
cal policy; bu, to ask them TO make brick with
out straw would be sanifestly unjust
70 Hon. WIN. c. PRSsroN thinks seriously Of
resigning his seat in the U. S. Senate, because
South Carolina dislike. his Wing votes. Thus
works the doctrine Of Instruction: Wings demur TO
it, vel obey, while opponents vehemen,ly insist
on it, vet rarely conform to i, in practice. It's
operation reands us of the bitter old epigram:
.Heayen takes the good, too good on earth stay
Ana leaves the bad too bad 10 take away