Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1843-02-17

,ney; anG still more frequently issszing
and receiving one kind or another Of
paper credit, based on the Government
deposiles be a genuine bank in
every thing but the name
Its "uame" Continued Mr. F. let US
disregard; let US look at its 'acts"-
ILaughter.] Now, who was it that
gave this definition Of a hankl asked Mr.,
F. My honorable friend from Massa.
chusetts, Mr.. Cusbing)- laughter -
who now says that this apocalyptic mon.
eter that has just come into existence,
This enormous Government bank, is no
bank, bul that the Sub.treasury vast
Mr. F was asked when this speech Of
The gentleman was delivered? Ii was
delivered in 1887, and was to be found
in Gales and SeatoD's Register OF De-
bates. 18th volume, part lst, pages S82
and S83. He did not know but he might
instruct this House by reading a little
further from this speech, because it
contained some good doctrines, and he
was sorry that the gentleman had so
much changed. There might be a change
of circumstances iha, had led 10 change
of sentiments, bu it IS strange that it
should have altered the defnilioD OF
thing, Of a fixed fact" Laughter
But the gcOtIemun al that time had
soms good notions on the subject Of Go.
vernment paper. IIo says:
"Gopernment Paper.-We are 10 have
n paper currency recognized by the Go.
Vernment Of the United States, and en-
.poyed in it's dealings, but il is to bo ir.
redeemabe Government paper. This
is tho newest new humbug The fever
fit Of gold has had its day. That Of pa.
per money succeeds It.
"Iftbe scheme were not too laugha
bly, absurd 10 spend time in arguing about
il seriously, il The mischiefs Of GeV-
,ernment pOper- money currency had mol
he'd an out aud out lriaI both in Europe
and America, might discuss it as
question Of political economy"
Really, (said Mr.. F. this reminded
him oF fhe geptlcman's remark tho 9TH
mr E0y IN reference 10 the committee Of
WAYS ami Means. tlo had said that
they did not keep up with the spirit OF
the iimes that there were new discOV.
cries in barking Of which they had not
thought This Government bank ore
would have supposed from the gentle,
man's remarks, was new discovery IA
discovery of the present administration
and yet lhe gentleman had talked Of it
as an exploded theory five or six years
ago But the geutleman continues:
"But will not occupy the affection
Of the committee in this way. i am as
toanded at the faulty Of any set oil men
who can think OF such project. Has
Lnw's Mississippi bubhle-haVe tho bills
of credit OF the Colonies the cont
mental money Of the conrcdorocy have
tho assignets OF the French Republic
impaired the warning lesson TO the pre-
sent generalonY It ~ nolorioaSIy, O
oil The means by which Government
can raise money! the most habo 10 a.
busc; Of oil currenoies the mos! impos
rible to maintain conlormablo TO any fix
ed standard Of value. We in tho time
or the Colonies and oil the Confederation,
did evory thing we could do to give 10
The paper Of the Government the quail.
Tiles Of money. Did wo succecdH You
know that in spite Of oil Government
could do or say to prevent it, our paper
money went on perpeIuaIly dePreciaIing
in value. until o hundred dollars of il
mouId scarce pay for a breakfast"
This, sir, (said Mr.. F.) )ts tho descrlP'
tion Of Government bank from the
great advocate Of that same institution
on this floor.
There we're some other things to which
Mr. f. desired to advert, but h9 was
told that he had but a (aw minutes lett,
0nd rather than occupy IEat lime, iC the
House was ready 10 take the question,
he would Yield the 0oor.