The Democratic Whig. [volume] (Columbus, Miss.) 1842-1843, 1843-03-30

apihioa a. rs lhs paEsss Of justfyinR
ourselves u tie Visaa We, a. commnn
win lha CREST party We bsloBR 70, enter.
tain On he subjeot Of currency. We
have never doubUdlbe powers and he
duties or ihe GeneHa coyarnmsni on
this subject and what We proclaim nos, We
have always Proclaimed, thai Il s the a..
" Of Government 70 provide 4 national
currency which shall be revived IL pay.
ment Of public dues in all sscIl COS u the
country,
| Wehaye now lying before us a speech
Of John G. Calhoun, delivered ID the
Senate Of the United States, January rs.
1884, on the sremoval Of The Deposiiss."
--Itis able and profound, and maintains
The doctrine, that under the present sys.
tenn a Bank Of the United States Is re.
eessary 10 preserve the stability Of the
currency and give it uniformity Of value
at every point Of The Union. In ono pas.
sage Of bis speech, he hiuis a. opposition
to the present system Of Banking, but OK.
pressly declares that while The system
eo7tinuesa Z. S. Back IS Necessary.
That system does continue and riA
continue, at lens, for many years, and un.
III il IS broken up, according TO the views
Of Mr.. Calhoun, a Bank Of the Uniled
States is indispensably necessary 10 pre-.
serve. not only uniformity in the curreLcy
but the stability Of the Exchanges. 20 o..
scniial to the perPetuiy oftrade.
We shall quote freely from the speech
Of Mr.. Calhoun and loaye to the publ.
TO decide on the Gu s.ion Of rs e,nHstene
~.
"Bnl let tho point al issue be determ'n.
ed, and |. as far ss my voice extends, viii
give to those who desire il, the means Of
the freest and most unlimi'ed inquiry into
Us (U. S. BInk) conduct. am no par.
lizan o. tho Bank. | an eOnneclej
with j. in no way by monied or political
might say with truth, that tia
Bank ows as much 10 me as 10 any 9th.
eT individual in the country, and ! might
: eren add that Rad il not been for Ky II.
forts il ponjd noi hare besa chartered
, standing a this relation 10 the insi,u.
r on, b gh sens Of deheacy, o regard 70
Independence and character hes res rain.
ed me from any connect on with tho IN.
sutulIon Whatever, except some trhnR
acconmodnt ons ia the way Of ordilary
business, which were NJ, Of tho i gh,est
5 imporance either 10 the Bank or myself.
''Bu; while shall not coldcscend 10
! notice the charges, Of the Secretary
against the Bank, beyond the extent whic h
have stated, sense 0 duty TO the INST.
tuiion and regard to the part, which took
ia lis creation. com, is me to notice two
allegations agains. It which have fallen
D ON another qu,r.er. Il is said that tho
: Bank Lad no agency, or at least, efficient
: agency, in tn resio alton Of spee.e paw.
T. mems - 1917, aad thai Il had fulGd 10
furnish tha con1ry with uA form and
soUni cuirctcy as bad been romised At
its creation --Bolh Of these allegations
prouognce to be w.iheui Just iou0dati IA
, 70 cuttr into minute tNRmina.un Of
hem, would curry the to far from tao
su hicci, and must coutent myself win
saying, that hlving been oatl e poi is4i
stage vii out interruption frcm that dry
o th's-havng been an attentive ob,c,Y-
er Of tie qu sl.OG o. The currency
l throughout tie peroi--lht the 3 NJ
c aas been an Indispensable agent u / 10
restoration Of sl,e.c payments, that win
$ om IT, lh4 restoration could not have
e been efecle sh0 Of the ut er pro>tra'io4
, OF all the mon el institution, vi country,
d and an entire depreciation Of bank paper.
! and hat Il has not oaly restored specie
! payments buf has gPsa currency fay
more info m beisscea the erfrrmes Of he
county thaa IRIS anficipah or sUen
DEEMED Of al he time IF as creutioH I will
soy for ms sell, thai id nc, believe, II
6 that lime, that the Exchange between tie
g Atlantic and the West would he brought
Q lower than2 ID per cent. the e,,.m ted
Z expense then, in luding insurance ami
! loss tftime in Transporting specie batWoe
r. the two poi Is. How much il was bs'oW
If III anlici Jnted poiai, roed not state,
i the whole numerical ord kn rs that
) It was rot four b part a. the time If ths
removal at the delosiies." Again
! "iFyou rave z right 10 receive baak
/ notes az al - 10 treat them as moLey ~
r receiving them 10 your dues OF paying
i them away to creditors, you have q ight
+ TO create bank. Whl,ever the Govern
, uent receives AMI treats a. money IS
2 money, and II be moasy, then hey have
I, the right under the constitution, 10 ioRn
|. late H. Nay, they are tound by a high
: 9bllgaion, 10 adopt the mos, efficient
r means according 70 the nature Of tha.
e which they have recognised as money,
10 give It the utmoil siabiIityand uniform
! ily off, alue.-And i'm be in The shape
OF bank notes, The most efficient mo ms Of
! giving these qualities is a Bank Of the
e United Staes, Incorporated BY Congress.
, Unless you give the highest practical uni
e iorality to The value Of bank q tes--so
long as you receive them as your dues
! and treat them as money-you violate hat
I provision Of he Constitution which pro
!. vides that taxation shall Be uniform
: throughout the United State.
e Whatever the Government receiveu
and treats as money, SIS money and il
Z follows that they have the right 10 reRu.
late lis value and uniformity.
Wear not discussing The constitution
atty Of United States Bank--we desire
only 10 show thai such an instfniion