The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1854-04-28
From the Ohio State sman.
THE PROTECTION OF THE MA.
+ TlONAL COINAGE BY THE SUP
z PRESTON OF SMALL BILLS.

THE PROTECTION OF THE MA.
TlONAL COINAGE BY THE sup
PRESTON OF SMALL BILLS.
Mr.. EDIroR: The resolutions recent.
y introduced by Mr.sMackerzie Of the
House, and Taylor Of the Senate, calling
upon Congress 10 protect the circulation
-oi gold aud silver coins, by tho suppress
sion Of bank notes of eqnal denominations
herewith, has excited llle opposition of
the Ohio State Journal In "a recea,ar-
licle on the subject, the Editor of the,
Journal remarks:
"ln the first place, we think the States
have a right to control this matter, and
in the second place, we think the eoner.
al government, has not the right.p i3
] desire TO cite, as eminent whig au-
ihorty on this point, the opinion of the
la!e Justice Story, Of the Supreme Court
of The United States, in the case Of Bris-
coe and others against The Commons
wealth Bank Of Kehtuckyfl IN Peters res
ports 257)a decided in lS47. Judge,
Story there romarks: s y..,cosa4o a8- Il;
"The States may create B,nksas we'll
as other interpretations, upon private cap
ital and SO far as this prohibition is en-
cerned e. upon the Slalesto emit bills
ofcredh, may righfully authorize them
10 issue bank bills or notes as currsncy:.s
subject alpays Twill The editor Of the
Journal take nolicea] to the control of
Congress, tchose po,Ders ertend to the en-.
tire regulation Of ths currency of the
country" 4sa, p e.'s stfae,
Ii is true, that Democrats deny that
Congress can authorize any other curen.
cy than hard money-mucl less create
vast and irresponsible corporation with
authority 10 issue It's credits as money!
bu, my present. purpose is only 10 dispose
Of The whig cavl against the late resou-
lions. See Ohio Convention Debates,
vol. II. page 53s, where the late Judge
Hitchcock cites the above dictum o(Judgs
Story without any expression Of disap-
proval. O..
Icannot better express the position and
argument for the proposed restoration Of
he Constitutional currency. by the CO.
operation Of National and Safe legisla-
ton, than to repeat some resolutions, in>
roduced by Mr.. Taylor Of Erie, in tho
Ohio Constitutional Convention, Jan. |,
1850, IS follows;
"Resolped, That it is the duty Of ,his
Convention, by memorial, or ordinance,
to represen, to the Congress Of the Uni-
ted States, thai The people of Ohio have
suffered, and will suffer, great loss and
Inconvenience by the circulation of bills
Of credit, in violation Of lbesfcdelal cons
sl!u,ion; and that this convention is en-
barrasaed in is efforts 10 secure to the
people Of Ohio fixed standard of value,
because the national government fails
properly 10 regulate the value of money!
and guard against paper coanterfeils of
the current coins.
"Resolpcd, That our Senators be in>
struc,ed,and our Representatives request.
ed, 10 vote for an act Of Congress which
shall prohibit the emission and circula-
ton of bills Of credit of the same denvin.
nations with the gold and silver coins of
the Un,ed States" ,...-.
Allow me 10 add, Mr.. Editor, ,hat-I
should be glad to believe,i in the language
of the State Journal, "ihat the progress
sive Democracy propose TO adopt some
measure Of this sori;" aud may solicit
hereafter some space in your columns To
present few considerations in its favor.
LEGGETT.