Publisher's Synopsis
Excerpt from Speech of Mr. Allen, of Ohio, on the Bill to Separate the Government From the Banks: Delivered in the Senate of the United States, Feb. 20, 1838
And thus, sir, whilst the Constitution I'd quires Congress to coin mewlmmoney for the use of the country, and to regulate its value. The banks are authorized to annul the actionof the Government, by withdrawing that money from the people, and substituting in its stead I. Paper medium, whose value_it is impdssible to regulate. Every citizen has a constitutional right to demand gold and silver in paymentof his debts, because the Government is bound tad coin these metal: for the debtor; yet the banks: have made it impracticable for the creditor tof exact, or for 'the debtor to pay, any thing but paper. The Constitution seeks to secure the people against taxation, except with their own consent, for the use of Government, and in: proportion to their representative in uence but the paper system levies an enormous tax. Upon them against their will, in unequal prov portions, and forthe exclusive benefit of the banks. All perpetuities are forbidden, yet moneyed corporations have arisen amdng us, with power to renew and perpetuate them selves by the threat of public ruin.as the pe rialty of their discontinuance. Privileged mo. Nopolies, tending to enrich the few to the op. Pression of the many, by destroying the co. Equal distribution of labor and its proceeds, were caicfully excluded from our political sys.
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