Wheeling times and advertiser. [volume] (Wheeling, Va. [W. Va.]) 1839-1849, 1843-05-10

extent; While Ihe shons in the comiuunity demand
The destruction "i all banks. aud determination of
.,arrr cIrculaiuu
ITO the pcopl the lion against paper mpn-
~ 40 all the lOudness and Iern,r al has naturnI
voice; but Ia mem Hers uf Congress he 4. n,,,re ii,
Greet lest he should irighten Them out Of their It's
nc here rcs'rnins and Hodulatcs. aud r,srs gent
y ne any sucking dove, or n, il were any nigh ill.,
gale The ItnpraciIbiliiy of an exclusive metallic
currency the n1SurdIy Of attempting any such thing
"a country Ike tins, i, 8, manifest that n,,bndy
here undertakes To support II 10y any reasuning or
arg All that - said in its favor l. n general
le' u"riAiivn' h'Isit runs o'Icy against the hanks
anu defamation against existing institutions full vi
~"ind aud iUry, signiiying no'hne.
S'r the m'hnrnt any one considers II. he sees
how nd rulous any such attempt would b-. An eI.
elusive metallic circulation fer The second Gunner.
rial conri'y on earth. in the 18Th century! Sir.
,Ou might Rs well propose 10 abO-h Comm alto.
geIher.
The currency of T. gland is estimated 1T sixty
uillIon. sterling; AMI It - Nc MIC .llnugh's c.lcn
ll'I"n that u this currency all gold. nl owing
"nly "ne quarter ni uue per cent Tor wesr oGnetIls
= annual expense aiiendingsuch a currency would
he tHrce m liIrs and "a rirr year. 'r re .rIy 5
per cent uP'n the whole. Wnh rs this charg"
would Dc mach greater. The lass of capital wond
he 'nure. "w ng {" the higher esof interest; and
bcsI'rs all this is the of transportation. which.
10 n c'uRiry 40 extensive ~ ours wund be aud
not easily calcu lated. We should also require.
proPuribnnlly, more speCIe Than il requisite ia Eng
lnni. because our sN stem of Ichangr. by means u
bills Of eIrhan - NJ present, AMI would b. under
such system ~ Is prup tsri, much less perfect
and convenient than that ol England. Besides
The English metallic circulation mostly gold; IL
hem. In Eis land the standard metal. With US oil.
yer aud gold bOh ATE made siandir at a fixed
relation, and If we should succeed 10 keen thu, re
lai'on so true To preserve bath Of the prccinu.
inuiis ~. (Which 10 indeed not very prihabe,) our
circulation ~oIld nc sIll more expensive and cum
hrois. lrsIn The qThuiiy uG silver which Il " ,ul
rOntain. The SILVER in the world - esrirnaI ted In
he MY htncs much the gold ia amount. aud
consequently simethng mnTe Than three times ~
value. IL bath should circulate Therefore equally ia
prur"rIi"n io value. the currency would be three
parts silver aud one g,ld.
Now, sir, The annual expense Of such a cIrcula
ton. upon The hasII Of Mr. McCulluch's est:mate
would exceed the whole annual expenditure i5ade
Tor our army and navy. Consider, sir the amount
"i actual daily payments made in the Country. o.
Is dIiiiculi To estmlIe it aud guile impossible To
ascertain wi:' any accuracy. But form
sone noiiun Of u Ivy The daily dmpunl OC payments
~ the hanks of some Of The cIIies. II Tunes OF
prosperous business aud Commerce the daily amount
"i payment ia the hanks of New York alone has
heen equal IL eight millions. Whether NC call this
tenth or twentieth, fifiIeih part of all the
payments aud receipts made daily in tho country.
We see I" what an aggregate result Ih whole would
rise. And no Y Is ~ POSSIBLE That such amount OF
receipt and payment could be performed Ivy actual
paS.ing Of gold and silver from hand % handI
Sn"h notions. SIR. hardly require serious reluIa
IIon."