Western Sun & General Advertiser, Volume 11, Number 21, Vincennes, Knox County, 20 May 1820 — Page 2

tTninimort co il 1 be United to the nmmmt -t the deficiency thilt drawn iV'.i tha hanks, the cil would b Do j;icatti than il the currency weic metallic Hut this is not the fact When the paper citculatioii is retur:: J u;i.,n t!u ba ks for spec i . prtnhncc requics that an eifoi' shm'd bo male to preserve the same piop-.itiMi beiw'-.n the specie in 1 o ir vau.is an.l their notes i:i eirculatmm :s n i sI'.mI at the moment t tic ptv-sme commenced. Ifthcpapci in n cul ?io i sh.ou.d be three limes the aurmat of specie i t the possesi :i of the hanks, a demand upon them for 1 ,00; ,)0 ) dolls, of specie, would produce a diminution of o.u 0c nobs, in the currency, if ti e specie sVm. 1 be expoited, and of 2 (.'J.o ' dml-.. if it remained i:i the count v. It is even probable that the comparative eiiminmion would exceed tais i a 1 1 As i he demand increased, appieht :i i .s wool 1 be excited for t v-cdr. oi ti c bai.ks ; the exertio is p o hr.u! !) that a prehension, v i-i ..-.. e.-p.."d v "r a the magnitude el - e (',: w he avoided, rather than n e- p'.siij, . p'l-ssme. Tn;, ii ; ' '-U'.is U w.m.d be tire ehVct ol n? i ."') e rne? g nevf whete hanks it'll not become faminat istd with. 1 t -krop'.cr, and wei e not coit.'.teivan re bv s ' ;etv in a course ol conriuc

w.m . i. pi.v.ur tile vvomd he cou-i si h ---ed uiv.ooe st. li. to tv eams'itmio'vd exercise oM the p'f er r f r- nr,,, .s ha V can bo j ve.' w i'i d, !- t. fh.m issui i; note?S -. !!! d-.'Ko-nhi.iiions ; ani -d. Froii! exces-iw u when i!;eir i:(;les ae. V. j v ued up th-oi for spec.!-:, i!'Uit;:i"),:'in the ci i i ucy to an ex -tei.t to k ra . e t!;c tnicrcAts of society v- be pi e v i'li", ut il the i n.po-

, of iMce (esirai its are not w iih-' tratissetions of individuals, that a . y j in Tie coms j;uuv ia- p-nvcrs of on-' tiling w hicu assumes that character r-- ss. Oi-- oviis .'n have be n suf ! wid be employed, if the the. tirk-i f i n f ti..-- want ' : the -e rest mints. its which, at tills "moment, form so ' inns' ( M,:' uv , iti.il the pres -m -ys- i threat a potion of the change of this i teni '. hiMng s iad b al?andoned J citv. ? d d' v uious other p'aces are n a i .n.; dr : tt the st -te of the j cmpi-v.-ed for ti.'at purpose, it is ineonc.i. i . ;c, , tne coii.irlerr.tioi. of the eel v vine that the community should c-?sia.;e i n. ce sari! v ii.vo'vul. Tin: ; iv'nso to permit a compound coin, of j 'ptincipks upon -T.ii:.!i the eoinage orUi;ver atul copper to cbcuUtc con-: the Uniie.l tales h s been estab'isa-j tuining the intrinsic value unich it rc- j c!, arc subsiantiadv conect f'he ! presents, mc rclv because, for mr.'m-!

si a iuihI fi c u-,-. of tne iro.d coina-e Co: iv.vh) ids with the toinacrc oi I'.ngloid a.ul L)i:u;;'l I'iu sr.nd-r.-d of me siivet coinage differs but ht.lc ft on i that of S run. Tin A-vr-i ie. "l d diar is inti ii-i' aMv worth .i;i":it one p n rem lef-s t :an tl'.e Spiisli mn- d dt.!ar i His Jiderenc , if ih.e Spanisit d nl ar ban not been made i le, k envier, might have seemed to te. : ii ition i ma e permanent use o'r its siiv v r cd "i'e Ancric.an doiiiis wothl e cxport?d, us 1 n Sp .i:ish d-d ar-; cou'-i tuicd I ;i titat parpn-ie.ai t e m vi;c O' C nn'.m, 11 this laitei c-.in va-, '! e-u n der. the ba. ks mi..tt , Pi'n.'i'O inlp ;.t it an t miht seil, .t i fair prcr,i;;i a, til.' .l,noi,l nh'ch migut b. l- :pii v d ot theni for the C'dna and 11 isl I;dia trade. f..c ie!atie v.i'ue. of gohl and.ia r i, ks h:r.. ildVe . mly es ahli died m oidVre it u.x'i os. It lias h- c- ililT. rerr i i the M',!)'.: r. li n at ddT-ren'. pvrio.U. L Ivighm ..n ouuco tf gl-i is e ;u to abo it -5 2 imces of i i -ver. la I r anee. i is tqua! to (5-5; iad, in Spihi an ! ihi dugih'o 10 :uo cos In tho Lhiil t.if.s, m ounce vi ,o'd is e'::a'. to ;5 ov.'.ivTi of dlv ! . i.n ih iciativo vaiue of i' es? -.ie-t i's in the .n ir ;ets, frecMcn:iv d IV rs ir vn ' h s-igMe. I t h.-ni bv t he law cf doVoeot t ivhi.Ovi states. It is In - l;e M p.t 0 ai r-ed. ' hen eo onared w'v : as !.(,, for aiav. eirs p. "W : "i .i'U; ; i.i non. ever v o tn U m the m; ;rv marh ' - a hign.-r vamo. i'mm thi which 1 is n n :s -vi-of d t i in s! t; ' ' "- its j ;.ni e vahi.' i re.;tesi. t ' l ; be cored, t,) P)j ti.-o , f. l. u t f. on a incite in tne irlati.ivmi - ol -o!d ;,-,d sth. er. so as to m j: co-r:-p n:l w;th th ar ie:air- m rk'ah'e vane. it rohl, i-t u-.iti n t silver, shou! I be raised, !ive pr cent : " .him d' it wo ..I be eoual to 1 ' 75 or . 'J-l liu'TtSol pll,- s'i. i i-, I' Is oi-n MlT.iit'l Ml l!S V.UU. f , ... r . i 1 is hi'h 'an'.ii.'i mi lis v uu v .-r ro,s it to h i aportcd i'l f; i?nt li.s b; i ienf ni pe-t M iii all the br.u ti' n of en "re -re s it is no! nl t a liv e ni lerable o.vtciv., as orimaiy ati ! " ddo on ree, h Hu ?uoi e.s, t: w jen Ii silver cu M: i' v is -ub-jre f-o n t'-at cau-e, v . onn! nn! atTi c if. t w " '. ! be evtmrted oidv w'-,en t' r .t,' ! e!,vi 'ivfiinst t!ie r,ount v ' , ' i i i i r ! he !r ,so f - - 1' r I dl.r r r-cu , h'ic, J mi r o a s! i c oif co' i ; ua t' 1! 'hi ni' 1 V t i ,e t .o i ' i . em-h, o i

t - s;,v, -m-iti w in bi- ';r- run-iJisr- tin'.. The lat'er notes, inde''m:' into s . -i, . :n . f, nend t'v of their luin; evcrv where

-o! I nn u ) n p r.'-'p vi,r -, sia a i-i re r. u. 'rt IliH!' to e o 'n'ioi'. is p 'b d!v thr li"),' ",h' .some crvriive ''it cr: w ;jdir 1. fir ii 'id enfo'ca UK "' '! t' O ( o'O ir v. The cupper coinage i Lelieved to

be susceptible of improvement. Cop per itsalf is 100 massive to serve the j imrnosc of change. One hundred

cents arc too cumberous to be carried, and used in the numberless transactions which, daily occur between individuals. Coin compounded of silver .md copper, of from one to ten cents, ; would be much more suitable for that i object I his kind of coinage has ? been adopted in other countries, with J i cat adv antage. j It has, however, been objected to this coinage 1. That, as compounded metals arc much harder than tl e component inpedants, it would be diHi uit and( consequently expensive to work. 2 That the coin itself would be of little or no intrinsic value ; copper or brass being oi superior value in the : manufactures to which it mignt be ; applied And that the public would scarcely submit to the circulation of! a coin so worthless. 3 That it might be counterfeited by a composition of zinc and copper. After giving these objections their due weight, it is belie cd that n change of this nature, in the copper comae-?, would be beneficial. Altho" the iv.pjr.su of such coinage would! be twice as much as that of an equal number of silver coin, still it might be j a Ivamagcous. Small change both .of sib m a id copper, may be aburmant m i1 ihvoeiphi-r, the seat oT the mint ; hut it is not so m ra'lv elsewhere. Iftickcis of 6 J, 10 12, 25, & 50 cents isMi d iy inaoi-s and corporation officers, ami uollar bibs torn in tuo pieces f r the purp-iseol change, would nor. he rmpioyed for that purpose !'i is -inle fac t is an answer to the s; ennd objection. The fractional parts of a iodar are so bulUp- nsahlc in tlic i tenures, it will not be worth more j than brass or copper, and that the ex-i pensc ol reli.ting will be couil to tlir! vaote of the silver, ("han-j; , t'at is.i tile fraction, ii parts of a dollar "s S( ! in.dspjnsaidc to the community, th it j Us mapp icabiiitv to manu'actun s U its exemption from habi ltv toexp.rtation, ius'ead of fo. mh.g objections, are re ommendatinns in it favor. The objection that this coin mav be e isilv counterfeited, is, i! it cannot !);. !). ia'ed- c:r,i?hd to great consideration. A has been before seated ' ks c a np;tm .1 coinage ha $ been sticeusfiP'v practised in other states. If comp'umd metals arc much harder than th' i'' cnmpaner.t ingredi .ts, nav n.ot a suHicitnt set u itv against cou ncrfcitinix be derived from that cir um tancc ? Tne ciitnensions and power of the machinery, which constitute one of tie objections to t hcoinage will render it txtremelv milieu t to scenic that secrecy, and conceatm -nt, which are i-Mlisptnablc to the success of the counterfeiter. If this compound coimgc should not he cani d higher than ten cent, or iime pieces, the inducement, com)v.cd with the danger of detection, esnlunV from the magnitude of the machinery, would not, it is believed, he sulTici -mt tj encourage countcrieitine;. If however, it should be deemed impracticable to guard a-vain-t this evil, in a coinage contpoed of silver and copper, an attempt mignt be ma le to obtain a supply of small change, by a mixture of silver md zinc. The dane-er of counterfeiti ig would then be removed. s various plans have been suggest d durmg the Ust twelve mouths, for a.iev iathi'g the general distress which nas prevailed, by the emission of a large amount of treasury notes, afew observations on that subject will close mis part of the report. If treasury notes are to be issued for this purpose, they will be either vceivab'e in all payments to the :o trnmc.it, or tl cy viil be made redeemable at a fixed period. I. Ifthev arc made rrceiwddc in all payments to the govcrnmrm, the revenue wid, from the ime thai 5.0; v.v'O.) ilolls are issued, be vibsi.u aUy received in t cm. The government will be inimcdiatctv un--,, .. pn t)sC i' teres? S reiinlmrscn ?!t T the public debt in specious j) (-" T.rs due. These notes, when oo n i d o ith the notes cf the bank j , c L nitcu t if s, will lie at a ecei d('e in rll pavmcnts to thr ovirnnont, are ronvt tilde, at the :! ce of their issue, into specie. l hcv are cjnal to the treasury rot n pa men; of the revenue, and supe lie- to h,:n,sthrv command specie when the lioldcr shall desire it.

If the 14th section of the bank charter was modified, so that the notes of the bank and of its offices should be receivable by the government, only when tendered where the) arc made payable, a smali amount ol treasury notes might be issued and circulated without depreciation. In that case, they would he used for the transmission of moncv, and would be in constant demand for that purposeIt is the reception ot the notes of the bank-ofthe Uniu States, and its offices, by the government, wherevei thev are tendered, that causes them to be considered as a rood remittance throughout the Lnited States. It they should cease to be so received, a lie m and for treasury notes to a small amount, for the transmission of money, would be cuateo and would pie serve them fiom depreciation. If the notes thus issued should be made redeemable at the treasuiy, in specie, unon demand, the amount which

might be put and retained in enema-! tion would probably exceed, to a . considerable extent, the sum demand-. ed for the facile transmission til money. Such treasury notes would, however, have no r.uvr.ntage over the notes of the bank of the U. as long as they are receivable in all payments to the U. States, without refcieiicc to the place where they are payable. It is even probable that they wou.d not be of equal value and currency with those notes, as the latter would generally be made payable in the principal commeicial cities, wheic remittances ate continually madc.v hilst the treasury notes wou d be payable only at this place If treasuiy notes, payable in specie, on demand, vvh.cn pi scented at this phice should be preferred to the notes of the bank of the United Siates.it would be in consequence of the abuses v. hich have been practiced by banking institutions, which have, in some dec ree, shaken the public confidence in the integ'itv ot then on cation. 2. iftreasun notes were to be issued, not receivable in payments to the government, but i ede mabie at a fixed period they would iiiuin ctiaiely depreciate, unless they bore neat 1) 6 per cent, interest. In the latter case, thev wouid be of little more use, as currency, tha l the funded debt. Thev vould not perform the functions of mouev. In any case whatever, whether they me receivable in payments to the government or bear :n interest, and are red', emublc a' a fixed period, thev will a(T rd t.o substantial rein f where the distress is gi cutest, unless thev should be advanced ;vs a ioan in ovder to alleviate that distress. If they are to be. issued from the treasury in discharge of the demands upon the government, they would never reach those sections ol country where relief is most required. There, the government already collects mere than can be expended. One of the causes of this distress, u the necessity of transfeiring the pubiic funds from those sections for the purpose of being expended to those where there is no dc ficirncy of currency. As a financial resource, the issue of treasury notes is justifiable only vvh-re the deficiency, which they are intended to supply, is small in amount, and temporary in its nature As a measure of .deviation, it will be more likely to do harm than good If a sufficient amount of those notes, of any description whatever, should be issued and put into circulation where they arc most wanted, unless they were given away, a debt in that part of the union would be contacted to. the extent of the issue. It might enable the borrowers to pay debts pre-! viously contracted, but their relative situation would, be the same, unless the currency became vitiated by the relief which was afforded, he ultimate payment of the debt would consummate the ruin which the measure .v as intended to prevent. Hut it iprobable: that the sums which might be advanced, by way of loan, would, in j a great degree, be lost. The gov- j eminent is not, from its nature, qual-j ified for operations of this kind The general system of ci edit which has. been i?.troduced by the agencv of banks, by the inevitable i fict of the ' measures of the gen gf'v 't, has produ- j cedan artificial state of things, which S requires teprosion rather than extension. I he issue of treasury notes, tor the purpose of alleviating the general disti ess. w mild tend to increase this unnatural and forced state of things, and u'tvc to it a duration which it otherwise would never at'ain If much of the c-vil resulting from a 'decreasing currency had not arcat!y been suffered, there might he some plausible reason for urging he issue of tieasury notes, as a measuic of allev iation. This ground com oot be urged in its favor; it is, therelore, indefensible, upon the ground of expediency, as w ell as of principle. The last nifmh-rof the resolution assumes, by implication, the practi

cability of substituting, by the consti-'

tutional exeicise ol the powers o con yrcss, a paper currency lor that which now exists. In considering this proposition, tin power of congiess over the cuircney o the United Mates cannot consist cmtly with the respect which is dm to that body, be either affirmed or denied It cannot be supposed that the house of icprcsci.talives, in adopting the resolution in question, intended, trough the aguicy of an exectriv derailment ol the govei nmi i.t, to m siitutc an inquiry as to the extent ot the constitutional authority ol abodv, of which it is omy a constituent member. Yet, it will necessarily occur to the home that if the power ot congtcss over the curicmv, is not i.b soluicly sovereign, the inquiry, what cNer may be its immediate result, must be without anv ultimate utiidv .

'1 he general piospcrity will r.ot be !i lose ol tl filtetnth cer tuiy, a ;.i;e advanced, by demonstrating that there leer, and extensive depreciation in 'he is no intrinsic obstacle to the subsdi- value of these n.ctrds occulted ; y; d union of a paper, (or a metallic cur-: tt.a1, toiu tl at tin e, to ti e c.csc r.f rency,il the j-owci to t.dopt the tv.U- ti e e.g,teei th cenany, they r or. t institute has been withheld Item the tied . i. on.dlv to in prc ite. 1 hi? ft octal gov ernmeiu. Yithout ofi'et- oepi r ei. tion. it is hi lit v t !, l.s l.cen

mg an opinion unon il.e w eight to

v.hielithese v iews would hav e been t n- much by ;lc sub liuTu n I pr 1 lor titled, had thev been urged w id; st the sp; c ic , as bv ti.t it cuase 11 tl c c 1; nicsolutioi. was under conside lathm, tnyoltlas? n c tab. c;ui i, g th; t e, jot!, it is admitted that thty lunuli no b v enci tl e c : 1 0 v. ! ; I v.uo lave giound 1m c! c linitig tlie pc foi n ;.i c e e xistt o f 1 then-, rs c 1 cv , i ; tl that of the duty impose a b) its i.cioptn 1.. suLMiu:ti(i d trhen ph.ee. 'il.e In the disci ssion of a ques'.ici: td so pieche t if c 1 1 a i t! e rit pi e ch.tic 1. of much delicacy anu inpcntaice, th.e these n.c tals, pice i:cc' ly tie proiirl utmost c et, ficience is iej,sttl in thr, itihsiiluticii r l paj et . in v n i t;s c m rjtistice atid tiht ialily of those wlio tne s, U. a n eitiiiie m 1 e: ry , v ol rot have rendeicd it indispensah'e. now he ir.qnired into; l.ut it is r.errrAt the threshold of this c t c;uiry, it ai.y ct.ieu.t!, ilat tl 1 . ',1 1 i.'u-n is pic-per to bserv e that, it is deemed has btcn inoic t uj id sit ee t! : ? 1 h-'i-unnccessai y ttipieer.t i.nry sis c f the tuticn, than at any intinc;-pen : d ; txmotives which icd, even in the most cepr when the ace un.ulrw il s'n;ck of remote antiquity , to the y cnei u inhp- ; v,e s in th.e rc w vculo vr.s I 1 ought tion, by civilized states, ed gold, i i.d b e. Chris? ei ch m, 1 1 d tler.ee elisf.isilver as the statiehuel o' value; 01 of hu:eeii;.to eve y other lcg'on wi:eie the advantages which have resulted gold and si e 1 Vs. e 1 e in el' n end. bircc fi om thai aeh))t"u n The ciieun - tl c cose-of tl e last run my, dot. bis staiees, to y hich. in the c(in se ed ti is have e m.s-Cv! whether those nutids, in e s'ij'a-ion, it will he i-.iccsraiy to;even when employ cd r.k euneney, advert, is the te 1 dency which a me- 1 ave not appucimec: in value: ird lailic cm 1 enev has to presei e a viea-; it is c ntc rtle o, lytic ix cc; ?e s d a ter uniformity of v alue. than any othc r j);qer cuneicy. that i! lis :q-pi c ciidum cornmotiiiv ; and the iaci.iiy with f w id pie. biddy continue tint nt h a '.eng

nimii iv munis 111 nun v i. 1 lie , iui o- j sue e est Ho i y i u; s, io .u .e . it us.y ujevt r. by any tevpoiaiy causes, that ( icct all tl e o t ratiea.s en the civilized uniformity has been interrupted. No! w 01 Id. h is mamtnu ce', by thec

aigumeut wiil, in this place, b. offeicd in puppoit of this pi oposttion. It is found in tne expeiien cc s al all tiations its trutii, lor tne. present a will therefore be assumed, nut, die proposition itself L.eimits- that gohl and silvi r, when employed by ti e consent ol ill civi.ized states, as t!c standard of value, arc subject to temporary vaiiatmns of vaiu . Ii is ecjuaili? true, that they arc subject to permj

nent variations. I he c.uisc and cm ct I a quantuy ol ariicies to be excharged, oft: tne changes will be considered ! it is readily perceived that jui irrrease previ-jiisly to the di cushion oMlie in ti e e uiruiey of the vo'dkythc praciicabiliiy if sub-turning a papei suhsti'ution ol pa per, e e n w i en contor a metallic cm icncy. veiai'.;e into coin, wid increase the 1st. When by any cii cum&lance .quantity of exel angi able conmro'e',;tiwhatsoevcr, a greater pot tion of these ; cs in the world beyond w hat would nutais is IV.und in a particular slate, have existed, had such increase of than is possessed by other slates, hav-i currency not taken place, ing aitieies of equal value to be cx-j Under such cii cumstanrcs, a changed, they will, in uch state, be 's. dden reduction of the cum: cy, by ot less vaiue than in the adjacent the rejection of th.e paper v. hich 1 : el states. J his will be- manifested by been en. ployed, eomd not hVil to clean incicasc in the piicc of the com-1 range all the ic-lations of society, l y motlities of Mich state. This increase- diminishing tl c quantity of enrn r.cy, of the price will continue until the whilst the aiticles to he excharp'ri metallic ledundancy is exported, orjthiough its agency, would suiTer no converted into manufacturers. When-1 such diminmion. At immc-iate dccver this ledundancy is dispose d of, presioti in th.e price of ail rommothe currency will return in iis lormer j clitics would be th.e ireviahie convalue, and the place of other comodi- sequence of an unqnalif ;ai 1 e tui n to tics will b: ragtilatetl by that value ' a metallic cuircney upon the: suppo2d. I'm the exportation of specie 1 sition that the quantity of go'm ant may take place where there is no such j silv er, annually produced, s! ouhl rc-i-edundancy. This occurs whenever! main undiminished. Hut, if this rethe general balance oi trade continues, turn to a metallic curicncy , shmdd for some time, unfavorable to a par-1 be attempted at a t liod, "when the; ticular state. Tne currency then up-1 annual product ol" the se mctr.ls. ither predates in value and the pticc of , from leinporaty or pern ur.ent causes, all other conmiociities in such state.1, should have ccmsidciahlv dccieased, js diminisheii. As commetce is 1.0th- all the gicr.t interests d seriety would ing mote than the exchange of equi- he most seriously disoidcred"; p;epvalents, the tedueticn m the price ot.eity of every eh sci ipticn w uld K the artie les of Mich state. a-d the in- idly tail in value ; ti e icdr.tioi.s ! rcreascd value of the cm:emy, v. ill 'tween crc.'itor and debtor void ; he

piompuy picvmce a rc-ucuMi; anu gold and silver will soon return in the

quantities lequired to reduce their injury of tl c debtor ; ti c piopeitv, value to that which they maintain in! which would he tcetssr.iv to cli'sthc adjacent states. W illi the tefutn; eha-gc his debts, would exceed that of specie, all ether -iticles will rc-! which he had 1 c e eived f:om hiscrcdtuni t the iriccs which they com- itoi ; the one would be ruined withmamlcd bele.ie its exponat on. Like cut the imputation of crime, whilst fluids, the precious metals, so long as the otbVr would be enriched without thy are- employed as the genei al J the scri.b'ancc of merit. Until the measure of value, will constantly tend ! cr.gagt inents existing at the moment to preserve a common level. Every of Mich a change are discharged, and vauation fiom it will bo ptomptly cor- tl c pi ice ed" h-bor and of commodirccted, with.out the intervention of. ties is reduced to the proport'mn human laws. These fluctuations, bc-j which it must he- to the quantity ing temporary in their natuie, are 'of currency employed as the meeliuni wholly independent of the permanent ; of their exchange, enferpiize of cveiy causes which may c fiect the value of, kind will l,e repie-sed, and misery gold and silver, w hen employed as and distress universallv nrevail.

tlie general standatd of value. Thev! ft a . 1 will ill equally occur, whether the quan-, ty of these metals, compared w ith fi the exchanges which they arc destin ed to cfTect, be redundant or deficient. The limits, however, within w hich these fluctuations arc confined,',

arc so contracted, that the f;rcat irteiests of society cannot Lc seriously -ificuid by them. Iut this obcialioti must be understood to apply to i currency purely metallic, or, :: least, when the paper which is connected with it, e:ots not exceed the demand lor the ccnviti.ent transmission of money. 3. (ioid and silver, when employed y the common consent ot nations a tne standard of value, aic M.Ljtct to vurinaons in value from pein.ax.ent c.uses. livn their quantity is increased more laj icily man the aitiedes which ale to be cxcl.a: r;ed ihiough their ?genry, their pi ice will taia ; or, what imn.ui ts to ti e same thing the price oi ail e.xtlaigtjhlc aiticus will lisc. it has been ae'n it-

t.cl by all intelligent wlitcis uprntl.iv subject, that, in.mcedateiy alter the i oiscov cry of America, towauis the ae . v lei ale. mo il e the h.st centun , 53 w ritet s, that the demand lot currency, at present, throngt out th.e woild is gieater than the supply which the ixI m j isting quantity ot the pre eious n;eals will afford, without mateiirdly dtpie.ssing the price of all the objeetsof ' umau mdustiy and hnmrn cksiies. When it i r colie cteel tl.at ptoc'uetion is icgulated by e'er, a: d, and that both aie ciiiert y ali ened by the quantity of cin re ncy cou,p,oed wii'i violently rnd suddenly charged. This change vould Lc eieat'v to ti c When this shall be effected, the re- . lattons of society, founded upon a new basis, will be equitable and just, and tend to promote and secure the general prosperity. Such, it h contended by the advocates of a paper currency, are the