Washington telegraph., 1843-09-06
THE CURRENCY.

expadiency and necessity Of the BANK at'
cleary end conclrdv,ly shown, and warped Gn'
blinded indeed by po''lical prejudice and bigo'r
must BE- the .hind which can see no cogency II
its s'aieraents, and acknowledges not tlie tore'
Of its a,fuments Unreasonable ts II may ap
IfruT --s.'''ss tilsre are many suct
yes. thousands, who row honestly he!ies'
that the re-establishment of National Bani
would he an i'm 70 tic and dangerous me isure
Ret-r them To facts-point ,hem to The deraEge
ments which have invariably signalizod the
intervals Of the Banks existence-remind them
of The elasticity with which the business OF The
country has ever sprung tack to prosperity
upon the revival OF the Banks charter, aud they
will answer YOU with vague and undefned no
tons about some remote aPgrehcnded evil, ene
the subversion Of the peoples Liberties Ihey
will sdlnit that National Bank has afforded,
and would stIll afford such currency 10 the
country, BuT-sye, there's the rub; and if tG'
was-a traitor IN Venice, 1t is hore misguided
zealot-5m the liberties Of The people would
be endangered by the establishment OF such
an Institution. The people would never have
come to that conclusion of their o. n free Iudg-
ment. They would have Judged the tree by
its fruit, and would have nationally concluded
that no danger could result from an institution
whose benefits were 50 unhouUded. They
would never have dreamed OF such thing,
nor have had any fears Of Il result so utterly
unwarTanted by their observation and experi-
cnce, had not the fertile invention of modern
Democracy discovered the most deadly evils
lurking under tbs widespread garb of pros
periiy. Ardeutly attached 10 the name Of DE
mocracy los their earliest and dearest associa-
tons, the people were induced 10 believe the
assertions of this modern illegi;lmate bantling'
which ms diously boas,ed Of It's descent from
the old Jci.ersonian school of politics, when in
fact it was nothing but nAme-an empty
cheese rind, whose substance had been de-
voured 5T dcmigogucing rats and mice of ell
sorts ard sizes-a perfect Tracy cloak for the
concea lI1ent of such things az it might shock
the peoples sense Of Justice and propFiety to
know. Like tb jackdaw with borrowed leath-
ers, modern Democracy looked 70 the people
like veriiable peacock, and the spots on liz
borrowed tail and the gaudy cJlOrs of its pill
tered pluuace wcIe mistaken for the stars and
stripes of Freedom. 1t was by artlully using
the peoples paramount love Of freedom as a
wedfon against themselves that they were led
to sacriice their present welfare to avoid
greater evil which they were taught 10 believe
threatened them. That the Bank answered
admirably ell the purposes Of commefce-that
it saved Thousands Of dollars, in the way of ex- /
ii gave uniformity and stability /
TO the currency and disPeiled all fears of less
from the depreciation Of lis paper-lhat the
Bank accomplished all this, the people we're
bound 10 believe, for they were daily expert ]
ercng tire benefits of It's hcalihiul operations
but the thought Of what our fathers had sut /
fered 1Jr ll5erty, and the idea of losing il, !
which they were told by tie Locos would be /
the inevitable c, nscqrence Of re-chartering the |
Bank, were too strong tnr tie arguments OF the |
Wings, VIII endrayorcd 10 convince them that |
they were slcr. hcing immediate and substantial !
benefits for The sake Of avoiding what they had !
not the slightest cause 20 lear-'a raw head |
and bloody boues' shaking It's frighuul dart
over the ruins of Liberty, and existing only in
the prolific imaginations Of designing Locos. !
These oSjections to u National Bank, on the |
score Of being dangerous 10 liberty. r mind us
of the man who refused all sustenance, and
actually starved himself to death for fear Of eat
ing something injurious 10 his health.
Again we soy, read carefully and thoroughly
the document on the Bank, whose conclusion
we give today. If you be alive to your own
interests, and feel no desire TO yield these IN
teresis tamely up to the diciniion ef the selfish
and designing; if you maintain unlrammelled
your right OF thought and freedom of opinion
if you can spurn the trammels of petty partisan
ship, and rising above the unworthy influences
which chain your judgments TO the fortunes
and fuotstools of little men-theu, and no,
without, will the full and lucid array of facts
ard illustrations set forth in that article be |
candidly examined, and honestly appreciated
The Banks in Boston, according to the Post, I
have at present nearly S5,000.OOO in specie
On hand Their average amount on hand |
heretofore has been three and half millions. /
Money caa be had on good securities at 81 per
cent. per annum. We know there is more
money IN the world than ever, although some !
Of Us very seldom get sigh, ufi,. The difficult l
ty of lOsniug, even at these low rates, serves
to slioW that the course OF things recently has
only tended TO make the rich richer and the
pror poorer. Millions have been garnered up
aEkf.. Ill