Connected with this subject is the character of the currency. The idea
of making it exclusively metallic, however well intended, appears to me
to be fraught with more fatal consequences than any other scheme having
no relation to the personal rights of the citizens that has ever been
devised. If any single scheme could produce the effect of arresting at
once that mutation of condition by which thousands of our most indigent
fellow-citizens by their industry and enterprise are raised to the
possession of wealth, that is the one. If there is one measure better
calculated than another to produce that state of things so much
deprecated by all true republicans, by which the rich are daily adding
to their hoards and the poor sinking deeper into penury, it is an
exclusive metallic currency. Or if there is a process by which the
character of the country for generosity and nobleness of feeling may be
destroyed by the great increase and neck toleration of usury, it is an
exclusive metallic currency.
Amongst the other duties of a delicate character which the President is
called upon to perform is the supervision of the government of the
Territories of the United States. Those of them which are destined to
become members of our great political family are compensated by their
rapid progress from infancy to manhood for the partial and temporary
deprivation of their political rights. It is in this District only where
American citizens are to be found who under a settled policy are
deprived of many important political privileges without any inspiring
hope as to the future.
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