Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1843-12-02

to suffer her TO roll, darkling, down the cur
rent Of her fate.
"For the sake Of avoiding all msappre-
tensions, on this most important subject
wish to state my own opinion, clearly, and
in few words. | have never said, that it
is an indispensable duty, in Congress, under
all circumstances, to establish a National
Bank. No such duty, certainly, is created
by the Constitution, in express terms. il
do not say what particular measures are en-
joined by the Constitution, in this respect.
Congress has its discretion, and it is left
TO its own Judgment, as 10 the means most
proper to be employed. But | say the
general duty does exist.
IL maintain that Congress is bound TO
take care. by some proper means, to secure
a good currency for the People; and that,
while this duty remains unperformed, one
great object of the Constitution is not at
tanned. If we are to have as many differ
ent currencics as there are States, and these
currencies are to be liable to perpetual
huctuaiion, il would be folly to say that we
had reached that security and uniformity
in commercial regulation, which we know
it was the purpose Of the Constitution to
establish.
| hope they will; but how much will this
resumption accomplish 1t will doubtless
afford good local currcncics; but will it
give the country any proper and safe paper
currency, of equal and universal value?
Certainly it cannot, will not will it bring
back, for any length of time, exchanges
to the state they were in, when there was
National Currency in existence2 Certainly,
-, =, h,o,
gold bags upon gold bags, we may create
what securities, in the constitution Of local
Banks. we please, but we cannot give to
any such Bank a character that shall insure
The receipt of its notes, with equal readi-
ness. every where throughout the valley of
the Mississippi, and from the shores of the
Gulf of Mexico to the ST. Lawrence.
Nothing can accomplish this but an inst-
tuition which is National in its character
The people desire to see, in their currency.
the marks of this nationality. They like
to see the spread Eagle, and where they
see that, they have confidence"
There are three propositions on this sub
Iect which | would submit to the consider.
ton of every candid man. wish to rea
son them out, because it is my wish TO es-
tablsh the principles which embrace, and
which pass generally under the denomina.
ton of Wing princi Piles, and to convince
men of all parties that they are true, and
will tend to promote the happiness and
prosperity of all classes of the people.
say there are three propositions upon which
no honest and intelligent men can ever
differ.
l. The first is, tina, in the present state Of so.
ciety, in the present condition OF the country,
paper not only does, but will continue to, form
the grea! mass OF circulation. All The humbug
about II spere currency, all the professions Of
returning to an exclusive metallic circulation,
must appear 10 every man eminently absurd You
know that it cannot be done. You must all
know and be sensible, that from some bank,
from some corporation or fiom some source we
shall have paper circulation, and that it will
form great mass OF the currency OF the country.
Is there man who doubts this? Is there a man
in this whole assembly, in the Commonwealth,
who will, without blushing (cheers) say that he
does not know it? Is there one whom party
spirit carries 50 far 10 lead him to declare that
he expects to see The day when specie shall form
The exclusive currency, and not at the same time
feel his cheek burn with shame?- CHEERS
There is none such Well, then, if it is agreed
that we must have the mass Of the circulating
medium in paper, is there any man who will
deny,
2. That is thing most desirable that in this
mass there should be one part at least which
should pass current ywhere-which should
be Of universal recevability Gf | may use the
word) which shall be known 10 every body and
which every body will take from Maine 10 Geor.
gia and all along the Mississippi Is that not
desirable? In common country under one com
mon government, is it not desirable that the great
mass Of the circulating medium should be some
thing which every body can respect? Why no
; body can deny this. 1t is desirable, it is useful,
for all the purposes Of society and OF business,
: for it benefits every body, and especially all
those connected with commercial States. All
candid men will acknowledge this? Is it not de
sira5le TO the merchant in Illinois and Alabama
to have something in the shape OF paper money
10 remit 10 you manufacturers and citizens OF
Essex county which you will receive? And is it
not desirable to you, manufacturers and citizens
OF Essex county that he should have something
to remit which you will receive as money!
Laughter and cheers)
g. If this is yielded, gentlemen, there is only
one more QUESTION to consider; and that is, can a
currency thus universal in its character, thus
equal in value all over the country, be furnished
by any institution OF any State whatever? We
have all had some experience Of it, we all know
TO HE contrary-we all knotD TO the contrary.
, Take the bills OF any hank in Massachusetts, this
, day TO Virginia, and they will not pass. Bring
hills Of Virginia banks to Massachusetts, and
e they will not pass. They are State institutions;
. and the citizens OF our State are acquainted with