Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1843-05-20
,.urs xyulTCOMB 1888.

JAMES ioS"'
~. Lame, Whitcomb of 1913 can haf Wv De
.aa,,,f "a with the James Whlicomo oil &c
yop this gentleman is the represent
Hoos,e, democracv; md is selected 20 feceH '"7
loco f,co votes for the important once " '
nor he is nor a thorough g"'"s 49, AZ
tariff des,ructiye Then ne was so'"e "a. ="
ferent # the Journals OF me oeha'e u ,'" %
r h;ch AR gYhitcomb was member IN 1929,
.u,.,e story. a comnitie was raised IN me
c.o,,e 40 inquire into the cxpediency OF mrmo~
.sI:-;,, C,no,es, 10 re charter the Bank Of the
1r.,ed Sto,es, or TO create a National currency
10 be Ioaned to each State IN proportion 10 the pop
,,ka,ion thereof at a small interest. upon pledge
of State cations. duly sanctioned by the prop
ar State au,hori,ies--lhe comparative utility OF
a State fund, predca,ed upon the proceeds OF the
canal school, Michigan road and salt spring lands,
and managed by State Commissioners, with pow
ers properly defined, to issue a limited paper cur
rency, good for all State purposos--and the ad-
vantage Of an issue Of treasury notes, bearing
5 per cen, interest, and the propreiy and utii'iy
Of creating partnership Bank, TO be named The
State Bank.
|, will be seon that the reference includes the
questions Of a National Bank, and Of the comPar-
alive advantages Of national aud State cur
yency Mr. Ewing reported at length avowing
the power Of the national government TO create
Bank, and "lhat national paper currency IS pre-
ferable to my State emission, unless connected
responsibility should exist, as the honor and faith
Of the Union inspires paramount confidence; and
we believe Congress are fully competent 10 or
ganiZe the machinery Of a national institution so
a to obvate all the objections and forebodings Of
its potent opponents.
Ia the conclusion Of the report the committee
recommended that application be made TO
Congress TO chartcr the Bank of the United
States, with such proper amendments as time and
experience NAV have pointed out, and 10 advise
our representatives TO use their best Efforts for
that purpose also 10 ask Of Congress to author>
ize a board Of independent commissioners, under
proper restrictions, TO issue national currency,
upon the plan suggested IN this report. to fqudt~
frchdnge. which has been n burden upon western
trade and industry, and afford the use thereof TO
The States, already minated. That prosIs-
ION be made for the immediate organization OF a
State Book &c.
The proceedings had in the Senate on The IN
PRODUCTION Of This report, were as follows:
'Mr. Fletcher moved rccommIt the report
made by Mr.. Ewing, this morning. I" the same
select committee, with directions to report bill
and Joint resolutions, IN accordance with The o.
pnons advanced by portion OF SAID committee,
MS laid before the Senate by direction Of said com
mittee, on this day.
A div vision Of the que stion being called for the
question was taken on rocnmmi'iing the bill
Those who voted IN the affirmative, are MessrS.
Beard, BAR, Clark. Dumont. Ewing Earring ton,
Fenny, Fletcher, Owens, Graham Hanna. lieu
bricks IIerod, Jessup, Lemon, Lewiston, Logan,
Long, Morgan. Orr, Pennington and WHITcoMB
James Wh,comh, the hard money candidate OF
1913, is To be found according to this impartial
rocord OF Stote legislation voting TO direct com
,nittee of the Senate To report JOINT resolution
asking Congress to charter y auonai Il INK and
asking on State securities, government loan,
for the purpose Of equalizlng exchanges, which
have been burdensome TO western trade and in>
dusirv- The matter Of a State bank, also
referred TO the Same committee, being comprised
IN tho word "blll," 10 the resolution Of Mr.. Fetch
Tho question was afterwards taken on the IN
s,rurtions and ca rried in the affirmative.
See Senate journal lS}2-3-pagc liz Isl
II is hard to convince our lncoforo friends that
they have changed their tack in their ultra OPP.
position to L, nix and Tariff Yet when we look
back n few years. III the action Of the public men
who aye now the leaders Of that party, we fad
them occupying n very different position from
thar present stand
The Joint resolutions thus voted for by Mr..
Whtcomb proposes ,ha: Congress shall issue a
National currency and afford me thereof 10
the States. Nigh, not this idea be repugnant Ia
the feelings Of those who are bitter opponents of
The Cost Johnson plan Of lending National cur.
rency to the raj States, to aid them In paw
ing their debts; a plan better than this of MIR.
Whitcomb's inasmuch as II Recognizes claim oil
the States upon the National domain?
Indiana American.