Richmond daily Whig. [volume] (Richmond, Va.) 1842-1861, 1843-04-03
10 hs Ysfs,s Of tAs SRA Congregational District Of Vgina
eosrs.sd effLs Couaiiss Of Spottsvlrsnia, &c

gahsnnock II candidate represent you in Con
gree. meets the cordial appreciation ID The whole WIFI
party, have entered at actively upon the
had hoped toha,s the pleasure Of commune ai'ng freely
Ierson. with the people Of every county in INC di-ei on
the election y hand and the roads 80 heavy, tina
fo,, with INV utn.t xerons shsll fail in part least
In accomplishing my desire seize, therefore, an hour
during my short socum m tfedenchsoufg' 10 address, you
tbls hotter.
NV view. ON MI the great questions of the day well
known and lhae neither time to enter into dc
tails Suffice say that am thorough Wing, by which
Inesn Wing practice well in principle, and that
support Wing and Wing measures.
There H. however great aud absorbing question. which
In the present distressed condition of the people and the
country, rcechcs far above aud beyond the temporary
interests 81 party which desire especially to reason dis
paionately with unprudccd men OF all partesl MAN
CURRENCY.
On this great question, in debate at Essex Court
Monday last the issue furry made up between dis
nguishcd aud highly respected opponent and myself lie
avoed himself boldly advocate of hard money
~. whilst maintained onthe other hand, the expedieney
nay the indispensable necessity, in the present condition OF
the country OF sound comfortable paper which
only be attained through the agency Of wcrcgulaied
National Bunk, OF this ISSUE fellow. citizens, YOU the
tnor- And need remind you, that you bound by
A. hugh aud holy obligations to render Just verdict asst
you had been sworn jurors TO try the issue,
Tho effect OF sound convertible paper currency in
ulanng industry, quiekening commerce, and advancing
cuurc aud the has frequently been enlarged upOn
well IN this country abroad. But somewhat rcmura-
t ntiho direct oiectoi such currency, m adding ln
medstely 10 the wealth at nation, although beautifully H.
Illustrated by Adam Smith, say the Edinburgh Reviewers
aud other distinguished writers IN Europe, has never To
knowledge, been stated print speech pamphlet
published IN this country. propose briefly To illustrate this
SUBJECT and as affecting deeply the welfare of
,hc whole country, and of every citizen, claim for my
views, which though here, original, the calm
confederation OF every voter of all parties.
announce that the substitution of sound Convertible
paper currency, for much OF the specie constituting the
circulating of the United States may proper.
y dspace equiyaentto actunl increase OF the wealth
OF the country the Of at least
LIONS oT DoLLARs and OF Virginia 10 the amount of
lIoNs Ihs proposition may seem startling but 1t IS ne,
Netheess true and fully indicated BY both and
authority. Letme explain The circulating medium, or
money carry the trade of the United States
in seasons OF ordinary prosperity estimate (Which very
near approximation TO the truth at hundred and nifty
millions Of dollars and that Of Virginia twelve millions.
This specie be used actual capital that amount
which during the time the purpose OF currency,
-unProductNe. Now, II by any convance, you can sub
riute article tina, will cost nothing, for halt this
specie you release the specie from Its function of
circulating medium, and having intrinsic value may be
used in the arts sent abroad TO debts, 10
large foreign commerce. sound convertible paper
currency just such substitute 1t nothing but the
pcc the paper aud printing and answers all the purposes
that specie "A circulating medium IL
may be substituted, according Adam Smith, Say, aud
other sound political economists, least To- the extent hall
the whole currency Of nation without in the least initiating
depecang its value; there no danger therefore oi
rapid of prices speculative standard from the Of
such mixed currency the specie that Is thus released
from function of circulating medium, will flow abroad
and be lost in the circulation Of the whole world least
will produce apprecabe effect ON the currency Of our
country BY the substitute OF sound convertible pa
per currency for gold and sverto the of one half the
circulating medium of the u. States 1t is thus domonsta
bile, that the national wealth IS increased 10 the full amount
Of FIVE millions, and that OF Virginia the amount
ol six millions without producing any injurious conse
quonces whichever For the soundness OF these views.
confidently appeal the chapters Banks of issue in
Smiths Wealth of Nations, and Says Political Economy
aud 10 various articles Currency in the Ednbug Review
Now, feow-citizens let ask you, if the condition of
the United States is prosperous that afford
throw AWAY seventy-ive millions of doars2 Is Virginia
oppressed with debt public and private she IS
dOn give away mionsl Will you agree do this
unwse act merely TO crafty some clamoFous demagogues
hand, and a class of impracucabe visionary
cendenta politicians OF the s Carolina School the oher1
Leme illustrate is subject farther. Money has been cal
led the the wheels OF trade. You oil have wagon cart
carry your crops market, and for farming purposes.
Suppose the Legislature of Virginia should pass law
peng substitute suer eheels for the wooden
ayou have long Your property would not be mate
nay essened thereby The mental would still be in the WHEELS
snnsic value nOtessoned, aud they would
y WE'LL but better than the wooden Would
rebel against such Of arbitrary power' And how is
the changed, when the government shall compel the
people substitute for the cheap and paper the
costly and cumbrous silver wheels.
Mr Hunter maintains there is gold and silver enough
IN the world TO carry its commerce. Admit JOT he
sake Of argument How getit IN virginia. IL
here now, will IT here without equivalent
What equ'Valentiaye we 10 give for III The STATE and
People arc deeply IN debt. Every crop sold, even II II
to bring specie into the State which ninety times
hundred Is not the goes pay debts II the
ney comes among u.s. will it remain neutrality-suspicious.
IL cannot, long in debt abroad When will
Indebtedness State and individual, be dschnrgedl In
% Yeas, with the rigid, economy lupprehend
The coming oil thaI milennia hOweN
er Distant we can never expect TO ENJOY the felicity OF hav
ting pure Metallic currency. Are You willing wait for
ats coming, and in the time live without money, 10
please the visionary political enthusiasts Of the day.
la this country, require economical well
currency None but the oldest and weahiest nations unes
they have within themselves like s. America, rich mines Of
the precious metals afford purely metallic currency
New and poor countries have been compelled by necessity
before the introduction Of Banks Of ssue ron
"copper" Shells tobacco salt skins, circulating medium
The annor OF Diomede, Says omer cost nine oxen that
oi Gaucus one hundred And shall soon, fear, If the
visionary doctrines Of the hard ORsy democrats shall pre-
vail. be compelled similar expedients. As a /
plan farmer my neghbourhood, wfuiy remarked-we |
shall be under the necessity OF paying large debts with
aud using the calves for change. But cattle
selling IN the West, will require fat make
ven very smail change.
But deny that there now, had been a sufc
ency guld and silver in the world carry
conclusive evidence of this 10 be found in the various
dsgucciu expedient rcsued 10 all nations; from Rome
IN the pamcsi days OF the republic, down c Of William
III OF England, for the purpose multiplying their money
The COINS were frequently lessened IN volume quality
10y adding alloy IN order to nerese the quantity Of money
the iiUTs Of Churemagne which, the word import
tanned pound OF pure silver IN the reign OF Philip l
reduced ounces; and IN still later rcigns about
Would such eNpedients have been resorted tere
nd been abundance Of thn precious metal to To
demands of tradei know that these eXDeden
have been imputed desire, the part Of the Soveregn
who pacsed them, cheat their creditors but they cOu
auely nUthaye been mpoed proceeding disopufab
except by dire necessity arising from scarcity Of the pre-
metals. Has such eXpeden been resoed to since
by the reign Il William 3dl and why mott Simply
banks oasue introduced the great discovered
bg Increasing the currency Of country, (by issuing sound
convertible bank pnper,) oifhosf deJasiHg IT,
II - ascerained 10y political economist, well such
fact be asceainsd that the of the precious
tas n the world has Misunderstanding extensive
oi them IN plating, gliding aud The generaly2l
per cent in 20 years. rather than per
For this fact refer 10 Tucker money end Banks page
$50 ltmay b. assumed a well established principle OF
sense well political economy that the cOndi
ton II country ~ most prosperous. which prices
gradually adYancing-and the other hand that its con.
- con
slowly, declining In such state Of tmngs trade
must remain staRnac, prudent will buy whom
he knows that he sell loss. Now the fret Of these
states Of oooy certainly produced by sound conycrby
bank currency and the lost condition Of things inevitable
brought about 10y hard MONEY. II - demonstrate The
amount u the precious metals IN the world diminish % e
rate 81 percent per annum; o population and commerce
oi the world constantly increasing the demand Tor
ney must Keep puce with tins increase. and prices will
ftany tend 20 accommodate themselves 20 the changing
value Of the standard. which continually becoming higher
from year 10 year. certain and fixed rule established