Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1843-03-15


that the Federal Government cannot
fulfil It's duties to the country, unless il
creates a national institution, whic n ,har
monizi1g with the State banks will rem
edy the present defects Of our monetary
system, and meet all the wants of the
and the government. In
that mode only, can u currency Of equal
value, credit and use, whenever it may
circulate be furnished, withsut the des
truct;on Of the State Banks.
From 1920 TO 1880 the Main al Bank
was IN existence tine interval b..
tween 1880 aud 1877 lis charter expired.
md was not renewed; aud the result
was the multiplication of State lnsiitu
tons and the enlargement OF their field
OF operations, without reference TO the
actual wants Of the country, until the
system was crushed b S own weight.
Upon the other har the Democratic
party av'w and mainiain the doctrines
that the Federal Gpvernm mt has no o
ther power over the currency, than that
which is involved in those to coin god
and silver, and to regu' ate their value.
and TO provide for the collection Of its
revenue IN that med um; AMI that the
people expect 100 much of their Govern.
ment, when they demand any further
effort 10 accomplish the high duty OF
giving n sound and uniform currency To-
The country. 10 Mr. Van BIren and
his party, The credit, if it be a credit, OF
d .scover!ng these new political prInci
pies, Is due. Tney were announced AT
late period Of has administration, IN Ter
these memorable circum tances. Ii was
when the successive experiments Of the
pet Banks and The 'Sub-Treasury' had.
TO the fulflment of Wing prophecies.
idiled to furnish and 10 regulate the na
tlona' currency, as was so conf lently
promised by their originatorS, aud as
believed by a misguided
Peop'e, and when that people, amidst
The throes 0nd con vulSionS Of the none
tary system consequent upon the failure
oil those projects, directed their homes
and entrSatIes 10 that a nistra,ion, TO
devise some efficient regulator Of the
currency, that IL refused TO make any
further effort TO stay the tide of ruin,
which was sweeping every thing before
Il, and irlnklng within the vaults Of lis
Sub Treasury, announced 10 that PEG yle
self and that they expected too much OF
their Government in looking to it for
relief from the evils Of an unsound and
unequal currency. How that annunci
alton smote upon the public ear you
will recollect. How it carried dismav
to your hearts, and was followed by ruin
TO your fortunes, you will not soon for
get. As aneccssary aijunct to these
dogmas, the destruction of the State
Banks Is contemplated by u large por-
lion OF the Democratic party; for in no
"herwIss can the coinage Of specie give
currency of equal value, credit and
use, wherever it may circulate, TO the
country. To regulate your currency
oy destroying it, would DO 'to make a
solitude, an call it peace"
In connection with this subject, ane-
Their, having an inseparabe relation t.
1t, presents itself to your consideration
and that is, the power and policy Of the
Government, in the creation of an agent
tor The collection, safe keeping and dis
bursting Of its revenues. The action OF
that agent, in the exercise Of The most
'imlted powers, will necessarily involve
a nsIderable, If not a controlling inHu-
ence over the National currency. The
democratic party have staked them
selves upon the Sub Treasury, as
their project for fiscal agent, and in
some sort, regu ator Of the currency
The defects OF that project have been
heretofore fully exposed. The power
which 1t gives its managers over the
Slate banks. by which they may and
probably will be destroyed the danger
Gus increase of Executive power deriva
BILE from tits unsafety as a place OF
dePoslt--and its entire incongruity with
our Tree institutions, have heen made
manifest TO you, and on have impressed
upon It your seal Of condemnation. You
VIII not. cannot, now give it your ap.
probation, for 1t has in no respect chan
ged Its nature. In its character, action
and effects, il is equally abhorient 10
your reason now, as when last you
sPurned 1t from your presence.
The Wing party now, as in 1910, ad
yocate the creation by Congress Of
National Institution, which will be liable
to no well founded objection; and which,
While it will give 10 you a sound and
well regulated currency, BY acting in
harmony with, and Perfecting, our pres
ont incomplete and inefficient system Of
currency, will be constituted the agent
for collection, safe keeping and disbur-
sing Of the public. revenue IAN agent
which will not exercise a covert. and
dangerous. if not destructive, influence
over your State institutions nor increase
the already Overgrown power Of the
ExecutIve-nor expose your Treasury
u be P'undered by tie corrupi-nor