The voice of freedom. [volume] (Montpelier, Vt.) 1839-1848, 1843-12-14

, doubt was entertained that such note
would have maintained par value wit
gold and slver--thus furnishing pape
/ currency Of equal value over the Union
f thereby meeting the ust expectations o
t the people, and fulfilling the dulles of
parental Government. Whether the de
posilories should be permitted to sell O
purchase bills, under very limited restric
tons, together with all It's other details
was submitted to the wisdom of Congress
and was regarded as of secondary impor
lance. | though: Their, and think now
that such an arrangement would have
been attended with the happiest results. -
The whole matter of the currency would
have been placed where by the Conslilu.
ton it was designed to be aced-undel
the immediate supervision and control OF
Congress. The action of the Govern
ment would have been independent of all
lcorporahons, and the same eye which
rests increasingly on the specie currency,
and guards it against adulteration, would
also have rested on the paper currency, 10
control and regulate its issues and pro,ec.
it against depreciation. The same rea-
sous which would forbid Congress from
parting with the power over the coinage,
would seem 10 operate with nearly equal
force in regard 10 any substitution for the
precious metals in the form of circula-
ting medium. Paper, when substituted
for specie, constitutes a standard OF value
by which the operations of society are
regulated; and whatsoever causes its de-
probation, affects society to an extent
nearly, if not quite, equal to the adutera-
| ton of the coin. Nor can l withhold the
remark, that its advantages, contrasted
with Bank Of the U,S.-apart from the
TACT that bank was esteemed obnoxious
to the public sentiment, as we'll on the
score Of expedIency as of constitutionality
appeared to me striking and obvious.
The relief which bank would afford by
an issue OF SIS, 100000 of its notes, judg-
ing from the experience of the late United
States Bank, would not have occurred in
less than fifteen years; whereas, under
the proposed arrangement, the relief arts.
ing from the issue Of fifteen millions Of
dollars of treasury notes would have been
consummated in one year: thus furnish
ing, in one-ifeenth part OF the time in
which bank could have accomplished il,
paper medium of exchange, equal in
amount to the real wants of the country,
at par value with gold and silver. The
saving to the Government, would have
been equal to all the interest which it has
had 10 pay on treasury notes of previous as
well as subsequent issues; thereby reliev-
ing the land, 1.-THE same time,
affJrding relief to the people. Under all
the responsibilities attached 10 the station
which occupy, and in redemption of
pledge given to the last Congress at the
close of its first session, | subm ltted the
suggestion to its consideration at two con-
secutive sessions. The recommendation,
however, met with no favor at It's hands
While am free 10 admit that the neces.
sites OF the times have since become great
ly ameliorated, and that there is good rea-
son TO hope that the country is safely & rap
idly emerging from the difficulties and
emblrrassments which everywhere sur
rounded it in lS4l, yet | cannot but think
that its restoration to sound and healthy
condition would be greatly expedited by a
resort to the expedient in modified
form.
The operations of the treasury now
rest on the act of 1889, and the resolution
of 1916; and those laws have been 80 ad-
ministered as to produce as great guam
tum of good TO the country as their pro
visions are capable of yielding. If there
had been any distinct expression of opin-
ion going to show that public sentiment
is averse to the plan, either as heretofore
recommended to Congress, or in raodi-
fed form, while my own opinion in re.
gard to It would remain unchanged, |
should be very far from again presenting
it 10 your consideration. The Govern
ment has originated with the States and
the people, for their own benefit and ad.
vantage; and it would be subversive ofthe
foundation principles of the political edi-
fee which they have reared, 10 persevere
in measure which, ia their mature iude. !
ments, they had either repudialed or con-
dcmned. The will ofour constituents, clear.
ly expressed, should be regarded the light
10 guide our Footsteps; the true differ
ence between monarchia or aris,o-
cratcal government and republic, being,
that, in the first the will of the few pre-
walls over the will OF the many; while, in
the last, the will of the many should be
alone consulted.
The report of the Secretary Of War will
bring you acquainted with the condition
Of that important branch of the public
service. The army may be regarded, in
consequence of the small number of the
rank and file In each company and regi-
ment as little more than a nucleus around
which TO rally the military force of the
country in case OF war, and yet its servi-