Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1842-12-10
POLITICAL AND MISCELLANEOUS SELECTIONS.
FROM THE CINCINNATI GAZETTE.
GEN ERAL JACKS IN &.

TnE Enquirer Of Friday contains a correspon
dence between tho Old Hero, and his auc,en
friend Moses Dawson, Esq, on the subject of th'
Exchequer.
Thi, correspondence is not of late date. !
was commenced in 1911, soon after Mr.. Tyler.
plan Of Finance published IN his message
But Noses Dawson, fearing that the faithful nigh
be led as tray, that there might no, be any til
like unity Of opinion, and seeing besides, 'iha
thoro was in this neighborhood feeling favorable
10 the Excheqner," wrote to the General ol
permission TO publish that correspondence, in or
der, suppose, to change this feeling, and stop
any Of the party from signing any memorials In
behalf Of the Excheqner.
son finding, however," says Mr.. Dawson, VIII.
ting 10 the editors Of the Enquirer, "lateiy, tina,
there some feeling IN this neighborhood ia
vorable TO the plan,-aud that persons seeking
for signatures To memorial to Congress IN It's IA
vur, have stated to those Democrats whose names
we're asked for, that the plan was such as
would DO approx ed Of by Gen. Jackson. Now, be
ing impressed with the belief that the plan was
one to which that worthy patriot was and IS OPP.
posed, | wrote him for his permission 10 publish
his letter of last year,-to which have received
a reply, conserving TO the publication oil his letter.
Aud constde ring IT highly important that the De-
mocrats Of Hamilton county should be iii posses.
sion Of the Generals sentiments upon this Inpor-
iant subject, have 10 request OF YOU the favor OF
giving publicity TO the correspondence in your
paper.-and. therefore. propose publishing the
latest letter from me tcHcfa on tue sup1sCt.
Measures, not men--Ths is the great doctrine
of the party. Bat where the harm IN letting the
faithful know what the old General thinks? 1t
will stop all div lson among them, and make them
teel-naughtv men a they are! as if they ought
not 10 have coun,enanced, or encouraged such
scheme the ExcheGner. 1t may be, too. that
another thought entered into the head of friend
Moses. Just there - not entire union in
the party a regards the Banks. There Is hard
money clique, and mixed currency Clique, and
Il report don't belle them, they have had hard
words, and may yet come to hard blows on the
subject. How pat, then is the Generals letter!
1t puts stopper on this division. The old man
holds paper currency curse, and treats as sheer
humbug the pretenco that there IS not specie e.
nough IN the world to meet the business wants OF
tho world. And who now will dare to dispute
this point? What man Of the party dare venture
10 run a tit against authority SO high? Measures,
not men; but still General Jackson knows the
views Of the " Democracy" and therefore, IL will
support and sustain him. So the old man writes
~ reply TO Ms. De request:
HERMITAGE Nov. 21ru, 1912.
M Dear Sir:--Your letter of tho Is tn inst.
has Just been received, in which you ask permits
sion 10 publish my letter, or extracts from IT, to
which you refer. ! have no copy of that letter,
and when written, had no idea of It's being pub
lished and as | wrote IL in haste, there may be
both in grammar and spelling, which may
need correction; sui, as you say, II may be use
full for infnrma to the public, having the orea
test confidence in your Judgment, the permission
YOU ask IS freely gwen To you. never put 10 pa.
per any thing but what my matured opinions.
As to the illusions made to my Message TO
Congress, had strength, would give you the full
outlines Of that project, if Congress had made the
call on me. But why the call was not made upon
me- Congress was well aware of my opinion of
the Cons titn,ional powers of Congress in their
legislation for the District, and Of the States,
with regard 10 chartering Banks will give
cousise and hasty view of that opinion. That
the power of Congress over the District, was e.
quail to that of tho States their respective
limits, and that neither had the Constitutional
power 10 charter Banks of paper lssues-thai the
only power IN this respect was TO charter Banks
based upon a specie basis, aud of deposi!c and
exchange. The States having resigned 10 the
tenerai Gov eminent the sovereign power to com
money, regulate the value thereof &c. &c, and
prohibited themselves from issuing bills of credit.
OF 10 make thing a tender in paymeu, of
debts but gold and silver con,-hence the reserv-
ed rights Of the States contained no power TO
charter Banks nth power 10 issue bills of credit.
ask, what is a Bank bill but bill of credit?--
The charter allows them 10 issue three dollars in
paper for one OF spec,e--,hree five dollar bills
lssued,--l 30 10 the Bank with one Of ihem,--I
draw out tive dollars IN speeie,--l ask, what the
other two tives represent? They answer--no-
thing but credit. These we'll known bv
Congress 10 be my opinions, therefore my project
was not called for. Many committees represen-
ing Banks called upon me whilst IN the Execu-
tive Chair, To know II would not approve char
ter upon other terms than based upon a specie
bas,s,--my answer already was, tina, | would ap>
prove no charter; therefore none presented
10 me.
am. and ever have been. opposed TO all kind
OF Government Paper Currency, let i, be deriv ed
from Exchequer, otherwise. 1t the paper is
the real representative Of specie, why not pay
The debts IN specie, aud e, the specie circulate in
she hands OF the laborlng and producing c'asses'
Then the dealings between the merchant and the I
iaborer, will be ~ specie, and The merchant, by /
making deposit, can get bill on any part of the /
Union. Where, then, Is the use of a paper cur /
rency! Neither the merchant or Iabcrer wants
H. Inc merchant wants a bill, mot Bank or