Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1844-07-19
POLITICAL.
LETTER FROM A. Fl. CHAPPELL., ESQ
(rogrlUdcdA


POLITICAL.
LETTER FROM A. II. CHApPELL, ESQ.
(Conciudcd)
The next measure 10 which | shall advert is al
so one exclusively pecuniary in lis avowed aims
and characler-I mean a National Bank, which
YOU evidently treat in your letter 10 me, as Deln5
still a leading and cherished object Will the ing
party-though | confess my own observations
have caused me TO doubt whether there is not,
among the more enlightened and judiciouS OF the
party, now that the country has got 4 sound and
uaiiorm currency without the help OF Congress,
4 strong disposition 10 let the Snblcc; alone.-
What was the great Charge again" Gen. Jack
son. in connexion with this matter? Why, that
when. under the auspices of National and State
Banks. every Thing was sound and doing well. he
commenced warring upon the Bank, and eXperl-
mentine on the currency, and kept UP h,> war ana
experiments until every thing was thrown into
arrangement and confusion. such was the
s'head and front" of General JacksonS oltenaing,
as | thought and Said on all occasions. from The ilrsi
faint, forewarning sound OF his hostile hugie, IN
1879 and 1890, down 10 the time when, in 1892,
amidst the exul,iing shouts of ninetv-nine huh
dredlhs of the then State rights (now Whig) par
" of Georgia. he crashed what they delighted TO
call the monster win one Hcrculean blow OF
the veto power. Ana for years afterwards my
political friends with a few scattering eXcepiionS)
continued TO iaud the old hero Tor the deed, and
10 think the better oil themselves ir having BACK
ed and sustained him in it. During ali this Time,
my views and language We're in 4 very different
tone. ned that General Jackson, and all Who
co-operated with him in that part OF his career,
had taken on themselves Il fearful and cuip&blc
responsibility; that stability, above all other
things, was indispensable 10 a sound system OF
money and currency; that it was a subject, in re-
ference to which IL was impossible TO calculate or
control the consequences which any great shock
or revolution might, and probably would, cngen-
dcr-conscquences carrying disaster ana d;sfnay
into all the walks of business, into all the "lancs
and alleys of life" the humbicsi ~ well as The
proude>t. From considerations OF this kind, gen
ilcmen, | have always regarded all party ,aiapcr-
ing and experimenting with the currency, when
il is already in a sound STATE, as little sho't ot
a crime against the purses ana property OF The
people.
Is not the currency now in 4 sound STATE! Are
not exchanges, also, between different commercial
points. sound and right ! In answer 10 these
questions. the actual state Of things will fully JUS
tily me in makinga remark, which | used to con
slider applicable to the demand toc a "beiter cur
renew in the DAYS of the successful operation Oh
the late National BanS, 10 vii: that politicians
who are not willing l. put up Wit! as good a STATE
of the currency as existed then, ami now exists
again. but vino insist on changing ANA revoiu-
tionizing the whole system, and mourning The
great and ruinous hazards incidcfitto such change,
for the mere chance 81 an infinitely small IN
proyemcnt, deserve not themselves the blessing q
good money, and ough, 10 be hell bound 10 indcm-
nily the people for all the losses they sustain by
bad money.
SO strong AMI self evident is this view, that it
would he strange il the Northern Wing part,
..l..L - r;oul,. pspSt,ra1 (,pp Jackson fur
refusing TO let alone 4 currency that was already
good enough, should now be found following III
his footsteps" as schcinerS and cxrerimcnters Tor
a sbetter currency," when 4 sound and good one
actually exists.
Mr.. Webster, The great exponent of Wing prin-
cip!es al the North, has, you know, in a speech
made a year or two ago, pronounced a National
Bank IAN obsolete idea" and, in his late speech
At Trenton, in which he cxtols The Southern NEiSs
50 highly Tor having taken 50 manly a stand lor
The protective system, he goes Into a most states
manlike examination of the subject Of the cur
rcncy, and handles ii in a maiincr clearly show
ing that, in his opinion, it needs not the help oil Il
National Bank. 1t is my confident belief, that
the mass OF the Intelligence OF the Wing party
a, the North is with Mr.. Webster in this opinion,
however they NAV remain silent, or even give CO.
lor for the benefit OF the party in those sections OF
the country where the bank question can sill
h. made available as 4 political lalkinS-horse.-
Nor does the manner in which the Wings i'll the
House voted on Saturday last, on certain resolu-
tions Unexpectedly sprung ON the House from the
Committee on Elections, weaken or alter my be-
lief Those resolutions are so framed, that. 10
vote against them, amounts not even 10 an init
NATION in favor of the establishment Of a Bank;
though, 10 vote for them, is a very strong expires
sion against such an institution.
These resolutions were unexpectedly introduced
al the opening OF the session in the morning;
and il so happened that | was absent from my
seat, having remained III my room an hour or
Two, engaged in writing This letter. ! am, there
fore, particularly rejoiced al the opportunity your
call gives me TO express my views more explicitly
Than could have been done BY a vote on those re-
solutions.
Gentlemen, with The profound conviction e.
iei,ain of The want ofcvcn the semblancc OF ne
cessily for the creation ola National Bank. on ac-
count of the prcSen, or probable stale Of the cur
rencv, believing also HAT such is The scntiincn;
of most cors;dcra,e aud enlightened men, cvca
among The Wings, who are not willing T. make
such 4 question Il party iuot-hal,-l am satisfied
,ha,. if a bank shall be established during the CO.
m;ns administration, il will be done as a mere
party measure; ana the f~iercenes> Of the patty
war of (which il will be the object throughout lis
existence, will be without example. 1.-THE Cen
eral Government desires 10 provoke The States Of
this Union 10 notification and every SPECIES OF
dangerous extremity. let il, as ROW proposed, esia-
blish a National Bank asa mere party measurc-a
party engine-asa vast-money powertur strength
cningthc hands OF the Government. For, gentle
men, if this thing shall he done, is it MOI clear
that it must be done with these views-at least
with this etiect2 For 10 ask for a bank for TIC
sake of sound currency. after the currency has
worked itself sound, is quite as prcposierous as il
would bc 10 subject 4 man 10 a strong course OF
medicine after he had recovered from a severe
maladv by the mere power Of nature, withou,
the help of medicine. Surely. Z constitution that
can get well without the aid Of phy>:c, may lie
properly trusted 10 keep well withou, its aid
AT all events, it Is certainly entitled 10 q
respite from the doctors hands until it
shall begin 10 show some symptoms Of returning
disease. ! tell you. gentlemen, that for any patty
10 lay lis strong hand ON this now healthy coun-
1ry. and force a National Banf down It's throat,
as a mere party measure, will be the most fear.
jul currency experiment that ever was ~practiScd
in the tide of times. | trust that that portion OF
the Wings of the South who sisnalized them.
selves BY being against 4 Bank, Al Z time when
they should have been for il, will weigh the mat.
ter well before they ~signalize themselves again by
being Tor it, when they should be against it. For
in connexion with the arguments against such an
institution, founded on the absence OF any neces'
sity for i, in the stale of the currency. present OF
prospective, Southern men arc bound to look a
il in another view, which ought TO be decisive
with thcm agains, il. Such an institution, II es'
t,blishcd, will add another, and the most powef1u.
Of all, to tina, list Of money-engines which l have