Boon's Lick times. [volume] (Fayette, Mo.) 1840-1848, 1843-04-15


volved in those to coin. gold and silver,
and to regulate their value, and to provide
for the collection of its revenue in that me-
dunn; and that the people expect too much
of their Government, when they demand |
any further effort to accomplish the high |
duty of giving a sound and uniform cur |
rency to the country. To Mr.. Van Buren,
and his party, the credit, if it be a credit, |
of discovering these new political princi- |
pies, is due. They were announced at a |
late period Of his administration, under
memorable circumstances. 1t was when
the successive experiments of the "Pet
Banks" and the "Sub Treasury" had, TO the
fufilment of Wing prophecies, failed to
furnish and to regulate the national curren
cy, as was so confidently promised by their
originatorS, and as confidently believed by
misguided people; and when that people,
amidst the throes and convulsions Of the !
monetary system consequent upon the fail
ure of those projects, directed their hopes
and entreaties to that administration, to de-
wise some efficient regulator of the curren.
cy, that it refused to make any further eff.
forts to stay the tide of ruin, which was
sweeping every thing before it, and shrink
ing within the vaults of its sub Treasury,
announced to that people, that its sole duty
was to take care Of itself, and that they ex-
pected too much of their Government in
looking TO it for relief from the evils of an
unsound and unequal currency. How that
annunciation smote upon the public ear,
you well recollect. How it carried dsmay
TO your hearts, and was followed by ruin to
your fortunes, you will not soon forget
AS necessary ad unct to these dogmas,
the destruction Of the State Banks is con-
tempated by a large portion of the Demo-
cratic party: for in no otherwise can the
coinage of specie give currency of equal
value, credit and use, wherever it may cir
culate, to the country. To regulate your
currency by destroying it, would be to
make solitude, and call it peace
In connection with this subject, another,
having an inseparabe relation to it, pre-
sents itself to your consideration: and that
is, the power and policy of the Government,
in the creation Of an agent for the colec.
ton, safe keeping and disbursing Of its rev.
enues. The action of that agent, in the
exercise of the most limited powers, will
necessarily involve a considerable, if not
controlling influence over the National cur
rency. The Democratic party have staked
themselves upon the "Sub-Treasury," as
their project for fiscal agent, and IN some
sort, regulator Of the currency. The de-
fects of that project have been heretofore
fully exposed. The power which i gives
its managers over the State Banks, by
which they may and probably will be des-
troyed-the dangerous increase of Execu-
tive power dcrivabe from Tits unsafety
as place of deposlt--and its entire incon-
gruity with our free institutions, have been
made manifest to you, and you have i'm
pressed upon il your seal of condemnation.
You will not, you cannot, now give il your
appreciation, for it has in no respect chang
ed its nature. In its character, action and
effects, ii is actually abhorrent to your rea-
son now, as when last you spurned it from
your presence.
The Wing party now, as in 1910, advo-
cate the creation by Congress of Nation !
al Institution, which will be liable to no
well-founded objection; and which, while
il will give you a sound and wel-regulated
currency, by acting in harmony with. and
perfecting, our present incomplete and in
efficient system of currency, will be con-
sttuted the agent for the collection, safe
keeping and discussing of the public reve-
nue:-an agent which will not exercise a
{,
influence over your State institutions
nor increase the already overgrown power
of the Executive-nor expose your Treas
ury to be plundcred by the corrupt--nor
leave you to endure the evils of an uns0und
currency. while it secures to your govern.
ment and its officials, a sound one.
Thus stands The issue between the par
ties, and it is ready for your decision.-|
That decision you must make. We do
not, and will not appeal to any passion or
prejudice, to influence you in our behalf
We feel too deeply the magnitude of the
subject, and the consequences of your de-
cison. II is question Of solemn impor-
lance. in the consideration of which, you
should rise above the influences of party,
and regard it, in its true character, as one
of governmental power and policy--in de-
Gliding which you control the destines of
this nation, long after the present political
parties will have passed away.
If in your calm and deliberate iudg-
ments, you believe thai national and indi-
yidual prosperity can exist without a sound
and uniform currency-if you believe that
it is not the duty of your government to
supply and 10 regulate such currency--if
YOU desire 10 behold the destruction Of
your State banks, and Of that system Of
credit, which has opened the vistas Of af-
fluence and of distinction to the humblcst
individuals in our counry--if you arc will
ling to find lower depth in that deep of
national distress, into which you have sunk