Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1842-01-06

country. Our true policy should be 10 increase tde
amour, Of gold and silver coa in circulation, not %
\ diminish 1t.
Sd. Extravaganza IN appropriations, uaf pcaicality
in expenditure 10 Follow whSn Government
raise ways and means without either imposing
taxes or paying interest.
18th. This Government paper w,li, like all other
Government papef depfeciaie III value ihis IS not
matter of conjecture. Ii IS matter ri certainty. IL
ia quite poss bic "a fancy system by winch Tie re-
denip,ion OF Government paper may Keep pace with
issues and the paper lie shas kept al par w'h sPe
csc, but possible :unan na'nfe Is ut present
constituted, lind agents wo will, through series III
years. consistently carry out the principles Of such Il
system.
9th. Under our present system, though have =
very unsound circulating medium, have sound
standard of value. So long tins continues, we have
OF the varying value o. our paper currencles, and
guide in making contracts. But let Government
once begin 10 receive nconyertible paper whether Is
sued BY itself By corpora,ion and our STANDARD o
value will be gone. Then the evils We endure Will be
increased five fold, yea ten fold.
9th Half the evils society suffers, arise from the
attempts of Government do that which ought 10 be
done ~ individuals The regulation al we. h;s and
measures, and among Other measures, measures OF
value of the attributes al sovere,gniy but not
the regulation prices Of bills Of exchange, III other
commodities Gnrernmen, has, properly speaking,
nothing 10 do with reguan. the prices Of bills OF
exchange, than the prices oil beef Of butter, Of corn
of cotton. Let measures of value, length,
weight and capacity, be property adjusted and the
rates Of bills ofexchnnge and II all other commodities.
will be much better regulated by free competition than
they can be by Governmental cnacmen,s.
9Th. Supposing II possible 70 carry on the Exchange
operations Of the country, ty means of such Govern
mental agencies here proposed, immense
amour, of captal would be required. As we have
no "surpus revenue ih,s capital must Be borrowed,
and thus make another addition 10 the national debt.
For time, indeed, Government has credit every.
where, II might sustain lis Exchange operations by
spec,cs of kitiny But, before long, the kite strings
would break, and the kites 10 the ground
Sh THIS union Of the fsca! concerns Of the United
States with Tue private Of individuals, would
be 10 desange both. Ii Is union OF i INK and
State, of the very worst kind.
9th. As the o. banks would he received in pay
ments for Government bills Of Exchange, the risk Of
loss Government from soppagss Of specie payments
by the banks. would he increased greatly
10Th II Government takes upon itself the manage
Of the exchange business Of the country, I'M
increase Of governmental patronage viii be the
consequence.
llih Immense losses wi be sustained through the
purchase Of bad bulls o! exchange BY the governmental
agents.
I2,h Grea, faycrsm Will be shown IN dealings in
real bills Of exchange.
18Th Under tins system, there VIII he drawing and
redrawing, such as the world never saw before.
Asthc President states .'that he is welded 10 no the
oIv but looks solely 10 the advancement OF the public
good, il be hoped that he vii abandon the paper
money and exchange parts ot ;hc schene, lie
shall have ghe6 the various and important objections
that be brought against them.