Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1843-03-30

you VIII not soon forget. AS necessary ao
unct to these dogmas, the destruction Of the State
Banks is contemplated by large portion Of the
Democratic party; for in no otherwise can the
coinage Of specie give currency Of equal value,
credit and use, wherever il may circulate, to the
country. TO regulate your currency by destroy
ing il, would be .sto make solitude, and cali 10
peace"
In connection with this subject, another, ha-
wing inseparable relation to it, presents itself
to your consideration; and that is, the power and
policy of the Government, in tho creation Of an
agent for the collection. safekeeping and disburs
ing Of its revenues. The action of that agent, in
the exercise of the most limited powers, will ne
cessariy involve considerable, If not controll-
ing influence over the National currency. Tho
Democratic party have staked themselves upon
the "Sub-Treasury," as their project for fiscal
agent aud i'm some sort, regulator OF the currency.
The defects of that project have been heretofore
fully exposed. The power which il gives it's
managers over the State banks, by which they
may and probably will be destroyed-the danger
Gus increase of Executive power derveabe from
| Tits unsaftty as place of deposit-and its en-
tire incongruity with our free institutions, have
oeen made manifest to you, and you have impress
sed upon il your seal Of condemnation. You will
not, you cannot, give il your approbation for
| 1t has in no respect changed its nature. In its
character, action and effects, it is equally abhor-
rent TO your reason now, when last you spurn-
ed II iron, your presence.
The Wing party now, as in 1910, advocate the
creation by Congress of National Institution,
which will tie liable to no well-founded objections;
and which, while It will give YOU sound and
well-regulaied currency, by acting in HARMONY
WIN, and pcrectIng, our present incomplete and
Inefficient system OF currency, will be constituted
inc agent for the collection, safe-keeping and dis
bursting OF the public revenue: agent, which
will not exercise covert, and dangerous, if not
destructive, Influence over your State institutions
nor increase the already overgrown power ofthe
Execuuvc-nor expose your treasury TO be plum
dered by the corrupt-nor leave YOU to endure the
unSOund seer
your government and its officials, a sound one
linus stands the issue between the parties, and
1t is ready Tor 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 tho
subject, and the consequences of your decision.
IL is question of solemn Importance, in the con-
slderRtion OF which, you should rise above the in
fuences OF party, and regard it, in its true charac.
ter, as one of governmental power and policy
in deciding which you control the destinIes this
naon' long after the present political parties viii
have passed away.
If in your calm and deliberate judgments, you
believe that national and nvidual prosperity can
exist without sound and uniform currency-if
you believe that 1t is not the duty of your govern
ment to supply and to regulate such currency
II you desire TO behold the destruction of your
State banks, and of that system of credit, which
has opened the visas of afluence and of distnc-
ZION to the humbest individuals in country
II you are willing to find lower depth in that
deep OF national distress, into which you have
sunk-you have only to throw yourselves into
the arms of the Democratic party, and to sustain
their financial project.
If, however, you feel the necessity Of having
sound currency-if you would preserve your state
institutions and your credit system-if you be-
lieve that your Government is bound 10 supply
and to regulate your currency, and should do so
by the creation of some system, which will not
destroy, but will harmonise with and remedy the
defects of your present system of currency
thereby enabling you once more to pursue with
successful industry the occupations of life, with
out fear of having the fruits OF your abors swept
from you in moment, wilhou, fau.--if YOU de.
sire continuance of that policy which governed
your Washingtons your JeIersons and yonr Mad
sons, and made this union what it has BEEN YOU
will sustain the Wing party, who advocate that
policy, and propose the only means, by which.
Judging from past experience, those results can
De attained, 90 be continued.