Lynchburg Virginian. [volume] (Lynchburg [Va.]) 1829-185?, 1843-04-27

Of lappahsnnock NJ candidate To fcPrcset IN the
next Congress meets the cordial appreciation Of the
whole Wig party, have entered at actively up-
on the canvass had hoped to have the pleasure Of
communicating freely in person. with the people of every
county in thu districts but the election Is 50 near al hand.
and thu roads 90 heavy that fear. with my u,mos,
rrtfons. shall fail IN part at least. In accomplishing my
desire ses". therefore, an hour. during my shor,
journ in Frederick sburg, address you this letter
NV views on all the great qurstons Of tho day are
well known. and have neither time space TO cnet
into details. Suffice 1t TO say. that am thorough
Wing. by which mean, Wing in practice a, we'll ss
in principle, and that support Wing men and Wing
measures.
There Is, however. = great and absorbing question.
which IN tho present distressed condition Of the people
and tho county, reaches far above and beyond Tho
icmr...'y interests Of the party, which desire
pec'ay 10 reason dspassonaely with Tho unprsudiccd
mon OF all partlcs-I MEAN TNE cunRINo.
On this great question. in debate Essex Court on
Monday last. tho issue fairly made up between my
distinguished and highly respected opponent and my self
lie svewed himself boldly an advocate of harl
money currency. whilst maintained the other hand
tho rIpediency-nsy. the indispensable necessity in the
present condition OF tho country, OF sound convertible
paper currency. which only be attained through tho
! agency Of well regulated National Bank. Of this is
rue. fellow citizens yon arc the irors. And need
remind you. that you bound by high and holy oh
galions 20 render just verdict, if you had been
sworn az jurors 10 Try the issue
The effect ola sound convertible paper currency in
ss'mnIatingindustry, commerce, and advanc ny
agriculture aud the arts. has frequently been enlarged
upon, a. well IN this country as abroad But IL il
what remarkable, that the direct effect Of such curren-
cy, in adding Immediately the wealth .fn nation al
thou beautifully illustrated by Adam Smith Say the
Edinburgh Reviewers and other distinguished writers In
Europe,t asneve my knowledge been slaod IN print in
any speech or pamphlet published In this country. pro
Pose briefly to illustrate this suhIcct and ii IL Une If
fecung most deeply tho welfare Of the whoa country
and OF every citizen. claim for views which though
now hero, are not original the calm consideration oi NIL
parties.
announce tha, the substitution Of sound convertible
paper currency. for much Of tho specie constituting
The circulating medium Of the United States ~ il may
properly dlsplacc is eqnvacn, an actual increase Of
the actual wealth Of the country the extent Of At least
sErrNry-Fivr MIIrioSs or roLLAns and of Virginia
10 the amount ol SIX MILLIONS This prop son may
seem startling, but it IL nevertheless lrus and IL
fully vindcacd Ivy both reason and authority Lot
mo cxplan:-Ihc circulating medium, OF money ne
crssary TO carry on the trade Of the United States
IN seasons Of ordinary prosperity estimate which is a
very near approximation 10 tho ,rnth) at hundred
and my millions If doidrs and that Of Virginia at
twelve millions This. fspccio bo used. is an actual
capital to that amount which during the time il an.
xwers the purpos" of currency. is unprodaciyc Now
II BY any conlrlvancc. You can substitute any article
That will cost nothing, for one half this specie. you re-
lease the specie from its function Of circulating
medium. aud having an intrinsic value il may be used
IN the arts, o sent abroad 10 pay ecbs TO enlarge The
foreign commerce A sound convertible han,r currency
Is Just such substitute. II costa nothing but The price
oi the paper and the printing, and all the pur
poses that specie can answer as mere circulating mcd
UNI IL may be substituted. according 10 Adam smith
Say, and other sound political economists nj I,n.t Ia
the extent Of half the whole currency OF the nation
without in the least Initiating il. deprcciane its value
there no danger therefore of rapid rise in prices 10
speculative standard from tho use Of such mixed
ey for the specie TINT thus released from its function
of circulating medium, will flow abroad and be lost in
the circulation The whole would. last will produce
no appreciabc effect the currency our own country
ny the substitute Of sound convertible paper currency
tor gold and silver to the extent Of half the crcua
ting medium OF the U. States, il is thus demonsrablc
that the national wealth ia increased to the full amount
Of seventy five millions and that Of Virginia the
mount of SIX millions, without producing any injurious
consequences whatever. For tina sonndness Of these
vows. confidently appeal TO the chapters on Banks Of
issue in Smiths Wealth Of Nations. and Says Political
Economy, md variou, articles Currency in the I'D
inbnrg Review,
Now. fellow citizens let us ask you If the condition
Of Tho United States prosperous that we can afford
70 throw away seventy five millions Of dollas1 10 Viz
gina oppressed with debt public and private az she u.s.
IN condition iogive away six millions! Will you
gree to do this unwlso act merely TO crafty clam
crous demagogues on the ono hand, and elsss Of i'm
practicable. visionary tra end"nta politicians Of The s.
Carolina School the othcr2 Lei me illustrate this
snbJsct. Money has been called the wheels of trade
You will havea wagon a cart to carry your crops Ia
MARKET and for farming purposes. Supp a. the Lcpis
lature OF Virginia should pass law compelling you To
substitute Hirer trhccs for the wooden you hive 80
long used Your property would moi be materially les.
senod thereby. The metal would still be in the wheels
s Intrinsic value not lessoned and they would answer
precisely az well but no better than tho NO den ones
Would you not rebel aganst such an act of arbitrary
power' And how il the case changed when tho poy-
eminent shall compel tho people substitute for the
cheap and convenient paper, the cost and cuberous sill
yer wheels.
MIR. Hunter maintains that there is gold and silver
enough IN the world TO carry on its Admit
u, for the sake 81 argument How To get it in
virginia! II 10 not here now, will como her with.
out an equivalent What equivalent have We to give
ior ~ Tho State and the people deeply in debt.
Every crop sold, even If il bring specie into the
State, which ninety nine times in hundred il not the
case goes to pay debts. fthe money comes among u.s.
Will II remain asa circulating mcdium2 1t cannot, SO
long as we are IN debt abroad. When will our indeb..
edness. State and individual, be discha r2sd7 In
~ years, even with the rigid economy?
apprehend not (; and until tho coming Of tn al mil
lennlal period, however distant we can never expect
to ENJOY the felicity of having pufe metallic currency
Are you willing to wait for its coming. and in the mean
time live without money, to please the visionary cnthu
slasts Of the Jay2
In the country, We require economical well as a
sound currency Nome but the oldest and wea hest Of
nations, unless they have within themselves like S.
America, rich mines of the precious metals afford
purely metallic currency. New and poor countries
have bean compelled by necessity before the inro-
dncon OF Banks Of issue, to to iron copper,
Shells tobacco salt. skins, az a circulating medium.
The armor of Domede, (says Honcr,) nine oxen,
that OF Glaucus one hundred. And we shall soon, !
csr, If visionary doctrines Of the hard money democrats
shall prevail, be compelled to to similar cxpedi
cn's. Asa plain farmer in my neghborhood. Witty