Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1842-12-26
re., MONDAY MORNING, ID. CEMnEts aG, ISL.

they were NOW doing their duty-and he would give
illetn an earnest el his desire To sustain them III that
eonfse.
Mr.. Miller. of Loud nn.-Mr. Hopkins had asked Il
the resumption permanent or not} That. IN his opinion,
depended patrcly upon the action Of tins House, II Ne
called upon the lmnhs to loan the tommonW calth ) or
100000 dollars. and nj the same time deprive them ol
the rlal,t to issue small notes, we thereby rcnirr tioa
less ALE 10 maintain resumption, and lorce them TO con
Tract thelr circulation.
Mr.. Anderson hoped this bill would pass. lie belles
ed II right and proper, and demanded by tho best utter
ests u the community. II the bill does not pass, THE
power - issue small notes ceases the the lsl of January =.
and YOU invite n rnn mon the Banks 10 tho amount 81
100000. lie asked If His Is a time 10 run upon the
iitnhs. or t. cause ihem to cali in thor circulation IL
discarded every lldng like party in the constellation nj
tbs subject. He had always malntained that the banks
shunli not be mingled IN the party politics ol the day
They woro naw dong their duly-dalng Justice 10 the
country and justice Ia themselves, aud he would cheer
llem IN. lie Would not have voted iar this bill ~ con
ntNian with the Loan Bill. lie would not ask a layur,
aud accompany il with a d1uccW rs the price of conlpll
anee. Bal having asked the favour, he would nnt GRIP
pie aud disable those al who hands he expected 10 re
ceiye ii. lie asked again. with much emphasis. II THIS
MS a suitable time 10 dlsiurh the Banhs. aud paralyae
their eNerliuns t. promote the public prosperity. lftley
are annoyed and larrasscd, It would aggfavatc the dis
TESS OF the p~cople-already borne down with burdens a.
heavy rs they could bear. lie WIS an old man-his
head was Nhljo-and he had never known a pressure So
Intense AMI Wi4e sptea3. Our tine policy was Ia cher
tsil iii III lN7tllhtilHa- ib biNiltN llHlh az NV dVH'
means Of relieving the sul,'iugs ol the moplc.
Mr.. Hopkins VAS moi surprised At tho course Of
Messrs. Anderson aud Cru,chiield. 1hty were BANK
representatives. There WAS a Blnh IN Fredericksburg
aud u Bank IN Ialnsille. And thnse genllcncn wefe
right III representing the interests OF their constituents.
But ho was a~,l1nisbrd nj his friend from Preston who
represented a strong Democratic county-and who had
always gone along With him ON this SUBJECT. lie dcplo.
red his detection. Mr.. Anderson had said he would liat
ask a favor Of the Banks aud give lhcn a DOSE {, misap
.Iat4t., Ir ItI+a,,. a hf.,- a,1B+I a llIttI,l IN. TIM
suile bill. lie considered it Just M oh oclionablc Ia ii
leei the sane thins In two separate bills. He demanded
a2aln H. know n tie resumption VAS permanent lit
Was, II WIS wroag by this mcl II e, 10 produce suspicion
IN The public mind, Il the prejudice oil ihe Banks. lie
knew he was III a minority in this hall, on the subject ot
Hanls. lie was himself anti bank. and lor hard money,
and he would prove his tlIlh by his NORRIS, which a ma
i1rily ol his plrty would not do.
Mr.. IalHtcro regretted the party illusions of Mr.
Hopkins. There nas and ought Ia te M parry in tins
natter. As to Alessr3. Anderson and Crutchllrll renes
,cutlny bank lntetests-ihat objection, lift he one, could
not apply 10 him. There was ~ hana III SIXTY Mules oil
lira. He represented the interests ol his constituents.
Mn all wanted tins bill. Small notes Were almost TIE
luly nanry they Ind; and they Were IN 10 condition 10
nc deprived If that, Tiny were III no condition 10 sub
nit /, any reduction of the currency. The grcat dill
Guilty with thrmwas 10 &c, money ot any kind. llisehlof
i~5eetien 10 this bill was that 1t did moi allow the banks
10 ISSUE rnouah # these notes. lie came here 10 MAXI
10 var upon The hanks. tie told his constituents II
- '+''' " - @'' ~ - F'@NH
lley must eoni s1ne onr elsr. He wa not their ma.
Ile Banks had, 10 comply with the acquisitions OF the
Legislature and Resume specie payments, cufiailed
'aa much they had Inado themselves ion strong.
md Lett The prupin ton weak. lie wnuli not iufre a
sail farther contraction Of the currency. when In
VISA universal complaint of the scarcity of money
Mr.. Edmunls followed in 4 long speech againsf lHr
III in which he touched all the new lights N to.a'3al
10 the currency. He disrlalmcd any thug like party
n this question lettering iu past letislatiun, when the
Rlnttuf5 Genital WIS increased bV " mus and ~ ultrrltg
IN ',}j-37, aud various lmpJrtant e~xpedlrnis tor elftn=
lnp the currency Were introduced into the general lianl.
ing law. II was then determined Thai - n,lc- should
b. ihtsnallrst issued. aud they only i1r a time. lbe
baneli i'll effects ei thesr contemplated reforms were dc
icated by the suspension OF '31-nud tie subsequent al
thorify 10 issue small notes. !ch1ow his oppJs lion II
a renewal Of this authority would be bo1tlrss--liat he
Ilryiug large nrlcs essential to healthy reform Of tn
currency, he lo5hed with huron upon Il new issue ii
small mites and however ulGYaiilnt, he must p-iitai
AGAINST them. lie denied, that by rejecting th,s bill.
there would he a run upon the banks.-ihC notes would
sui be ii rIfcullil1f, AID they would only come IN, Ii
pursuance Of the laws Of trade. II there were nj more
ont lhaH were needed for com nerco there would be n run
upon the 3 Banks. The Banking capital Was too large-
It all3rjed more circulation than WIS required by TIE
wants Of trade. The currency WAS nov Intlaled-as
Was proven by the br9kpTS running upon the banks. The
prHfilrls of TIA" earth had been greatly cndalleI WITHIN
the last few yelrs and rendered eariaiimeut by the
banks absolutely necessary. Ihay must curtail still
mlre to keep the currency IN n slund Stale. He dwell
at ll5rr upon that dogua Of political economy -Wlirl,
every aly's eNparie1se reHl eS-tlat spPcia apl paper
cam II clrulite i99etber. tie regarded this bill as an
other blow at the s5lgenry Of the banks. the slfety ri
the currency, and the welfare of the whole credit sys
ten. Ihis eternal tam erinI with the currency had
wrought all the mischief. the complaint about scarcity
OF mpncy-a1 facilities, Sc, &c. Nasentlicd ~ no re
spact, AMI came from persons who he'd nothing, ard
would not work 10 make any thing. FMS s'tlnn he
illustrated by detailing what passed between a ooastltu
/ eut al lS and Two or three SnnpUl1turS IN IVuglburu-