Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1843-12-02

qures that as far as practicable we should
all be united in our judgment Of the
measures productive of good to the whole:
and, therefore, what desire now, and at all
times is TO address those who differ from
me in opinion, that by mutual discussion.
free and candid examination Of this differ
ence, we may in the end come TO unity of
opinion.
Well, now, the first of these subjects is
that which has so long been a subject Of
controversy between political parties in the
United States--l mean the duiy Of the gen
eral government uih respect to the currency
Of the country
Now, al! agree that Congress has the
power to regulate the commerce of the
country, for the words are in the Constiu.
ton. All agree that Congress has power to
coin money and TO fix value to forei On
coin, for these words are also in the Consti
tuition. But there has been, and there is.
wide difference Of opinion as to the duties
which may be, or may not be, inferrible
from these express grants Of power. Now,
gentlemen, in regard to this matter which
has so long agitated the country, and which
will continue to agi,ate il, in my Judgment,
till it is effectually settled, we must begin
with general principles, and thus conduct
ourselves to just conclusions
have said that Congress has the power
expressly granted to coin money and to reg
ulaie commerce. 1t has also the power to
issue bills of credit, treasury notes or other
paper as it pleases. This is power which
belongs exclusively to the general govern
ment. The States can coin no money
give no value TO foreign coins-can emit no
bills of credit. And, therefore, as since
the adoption of the Constitution. the use Of
paper as circuit NJ me dunn has become al
most universal, the question arises on what
government, on what power. devovleS the
care and the duty of experimenting this
paper circulation That's the question:
Now my opinion, gentlemen. is and has
been for many years. that it is the duV of
the general government 10 take care Of The
currency IF the cOuRiry--to superintend H.;
that the government has IA duty beyond that
given in the grant of the coming power:
that the power to regulate commerce does
give authority over that which is the instru.
ment Of all Observation-Disclosures
whether in metallic shape or paper medi-
circulating medium of the country is safe
and convenient for all the uses Of the pen-
pie; that if paper takes the place of coin
Congress is bound 10 see that it is "A Spfe pa
per. that is one from which the people are
not likely 10 suffer. to he in any way OPP
pressed and deirauded or deprived Of their
Just earnings.
lhave said that upon all these subjects
have very little that is new TO say; and |
will therefore read shortly. though | think
it is in bad taste TO quote from ones self
what SAID on this point on a former coca.
sion; and considering the inclcmency of
the day and the late hour at which our pro.
ceedlngs were commenced, shall use short
extracts. | said then, that of all the party
disputes of the times this question lay at
the foundation, namely: whether it was the
duty of the general government to exercise
their control over the general currencv.-
These are remarks which were made bv
me in Fanueil Hall on my return from the
session of Congress in July 1898. They
put the question thus: and adhere to il 10
this day--that,
"Whatever subordinate questions may
have been raised touching Sub. Treasury,
or Constitutional Treasury, or Treasury
in one, or in another, or yet in third
form. | take the question, the plain, the
paramount, the practical question, to be
this. namely:
Whether il be among the powers and
the duties of Congress TO take any other
care of the National Currency than to
regulate the coinage of gold and silver.
THAT question lies at the foundation of
all. Other questions, however multiplied
or varied, have but grown out of that.
"lf Government is bound to take care
that there is a good currency. for all the
country, then of course, it will have a good
currency for itself, and need take no special
pains to provide for itself anything pecu-
liar. But if, on the other hand, Govern.
ment is al liberty TO abandon the general
currency to its fate, without concern. with,
out rcmorse, then. from necessity, i, must
take care of itself: amidst the general
wreck of currency and credit, it mus,
have places of resort and a system Of
shelter; it must have a currency OF i s own.
and modes Of payment and disbursement
peculiar TO itself. 1t must borrow and
hide itself in Sub-Treasury vaults; scorn-
ing credit, and having trust in no body, il
must grasp metallic money, and act as il
nothing represented, or could represent
property, which could not be counted, paid
piece by piece, or weighed in the scales, or
made TO ring upon The table; or i, must re-
sort Ia Special Deposites in Banks, even
those Banks whose conduct has been So
loudly denounced as hagitious and crlmi-
nal lreaCherOus To the GnyernmenI and