Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1846-05-05

Tune Eut now that Mr. Polk Is elected clai,ne
that the people have decided favor OF the asnrv
anl il must be 1nedaicly carried into effect
enee to their viii l cannot give my consent TO the
measure upon any such groun4s. do not believe that
the people have dec led in favor Of the measure,
| they desire It's adoption.
Mr. Chalfinan, our present condition in relation 10
the currenc. is with which have reason to be
highly grafied. After all the changes and veiss,,ulcs
through which have passed for the last fifteen years,we
hhd ourselves IN the ENJOY of equal
value with gold and silver, and which ali the
purposes ana both Government and the peo
pie We have that kind Of currency which the expert
ence OF the civilized world has demonstrated is alone
quate TO the necessities of highly civilized ami
eal people, mixed currency, consisting OF precious
metals, and bank paper convertible .nto specie
pleasure OF the holder Exchanges between the differ
parts of the MEN moderate and whole inan
cal affairs are IN prosperous ami healthy Condition
Ia addition this, the general business of the country
Is IN state of high prosperity oar agricultural pro
duets find ready market ana remunerating prices
labor is in active aud steady demand; every branch
industry and enterprise is profahy employed and the
country is rapidly recovering from the depression ami
embarrassment occasoned by the great revuson from
which we have severely suffered.
Why IT. SIR would inquire, prosperous stat.
of affairs Nists Why il that have n sound
and the country is longer tortured and alarmed
with the evils of deprecated bank paper suspensions
specie payments and all the evils winch flow from fnan
cia arrangements SIR. rs because you have
years pas, Abandoned rather been prevented
suing your erube system of experimenting aud tnI
ering with the currency Tho trade and business the
country having been freed from the olcious
ding of the Government, aided by the sautary influence
OF the Tariff of sl2 has recovered healthy tone, and
bsosPety IN ITS train The banks, longer oppressed
and harasssed by specie circulars, Sub casuIes,
and direct efforts of the Government to PROSTATE
them, have been able 10 supply the people with /,
md
the transaction of business. In addition all
public funds safe W. hear of no losses the Gov
ernnent-no defaIeationsno absconding sUbfreasu-
with the peoples moneyno running off of s5wart-
wous Prices, Boyds, laden with public plumber The
people and the Government both well accommodate
ted.
And yet, in tins condition of things: the midst OF a
prosperity which general, while existing sta-
OF things bi fair TO render it permanent called
upon to return TO the ola system of tnkeiing the
currency,o the repetition of erimcnts which have al
ready been fruitful Of nothing but misfortune
ter We are asked TO revive pioded bumbue which
has been tried and most signal condemned
pudiated by the people. Does policy require
that we should forbear and .'it rel enough aioaer
cannot improve things by experiments, while We may
render them a great deal
For whose benefit this bill % be passed. Gu,
bo.o " Ill the Government be benefited by it, The
public funds Were safer than the, are now The
Secretary of the Treasury may command any amount of
security from the banks with which they deposited
and thus guard against the possibility loss.
cannot he pretended that they will be
OF receivers or Sub-treasurers than they now are. I
have shown, from the testimony of Mr. Polk and other
distinguished Democrats that they will be SAFE;
and the emphatic language Mr. Blair, tov HON the
Democracy of the country have for many years looked
for Instruction. they wi II he "'Jros,d be plundr-
Ell by hundred haais, rtere one cangot aou
reach them" This measure is not required then as a
means of safety to the public treasury. Is il required to
enable the Government TO command Gifts
better currency than which hey are now
received! No better currency than that in which the
Governme Mt dues paid be had The creditors Of
the Government, 10 whom its revenues discussed,
when they do not receive the money due spe-
eie, feceveIt IA currency equally valuable which
hey can al pleasure convert into specie 1t is clear then
hat no benefit accrue to the Government from the
passage OF THIS bill 1t is equally clear. that
ult to the people from its passage 1t is demanded by
ieIther public private interest. No possible benefit
AN result from it.
But, sir, If could natter ourselves with the hone
that 1t would only do good objections It's pas
sage would be less urgent We might be content 10 let
The hulnbug go out dressed the raudy tinsel
winch party madness has invested it, TO bring ultimate
contempt and derlson its authors Bnt
lulgc in such hope. We know that it will not only
do good but that will Go great and positive injury
will detain the committee to snuerate few Of the
uries which IN nay judgment must result from il. The
wo important provisions Of the bill are, the publ,
money, ad Of being epoed in banks accordance
with the practice Of the ever since it's organ
zaton, shall be kept in the hands Of individuals be APP
pointed by the President, and. secondly that the outt
revenues OF the Government shall be- collected
ursed IN gold and silver. l Will dwell here upon the
anger OF loss TO the public money which result
rom ti.ls system. have already referred IT, adj
uced the highest Democratic evidence to show that
anger will be great Indeed, doubt that
experience will demonstrate be great has been
anticipated by any Of tie opponents OF the
The expense OF collecting dsburS-
ng It's VIII be largely, enormously by
his system. Under the Present system, if the Govern