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Editorial
May 1, 1840
The Yazoo City Whig And Political Register
Yazoo City, Yazoo County, Mississippi
What is this article about?
Editorial critiques Van Buren supporters who back exclusive specie currency despite preferring a regulated paper currency aligned with Whig views, urging support for principles over party loyalty in the debate between Whigs and Democrats.
OCR Quality
98%
Excellent
Full Text
There are many Van Buren men, and particularly in this part of the country, who entertain the true Whig doctrine upon the main point at issue between the Whigs and their party; and yet they sustain the men who are endeavoring to carry out doctrines of the most vital import that are directly at variance with their wishes.
We regard the question of exclusive gold and silver currency as the one of paramount importance, now at issue between these two contending parties. The Whigs contend for a mixed currency of paper and specie, so arranged that the former shall in no case be estimated in value in any other way than by the latter; and the Van Buren men contend for an exclusive specie currency and that the prices of labour and property shall be reduced to that valuation. Now, we know that there are many Van Buren men who are in favour of a paper currency, upon the condition that the banks shall not be permitted to issue a larger amount than they can redeem, so that paper currency shall not be estimated otherwise than by the specie dollar and of consequence that no man may in any case be constrained to receive the paper unless he prefers it to specie. This is sound Whig doctrine. And we are led to the unavoidable conclusion that such men sustain principles the opposite of those they profess because of prejudices in favor of their party or dislike to leave the men they have so long supported or from a lack of an independent determination to sustain MEASURES rather than MEN.
We regard the question of exclusive gold and silver currency as the one of paramount importance, now at issue between these two contending parties. The Whigs contend for a mixed currency of paper and specie, so arranged that the former shall in no case be estimated in value in any other way than by the latter; and the Van Buren men contend for an exclusive specie currency and that the prices of labour and property shall be reduced to that valuation. Now, we know that there are many Van Buren men who are in favour of a paper currency, upon the condition that the banks shall not be permitted to issue a larger amount than they can redeem, so that paper currency shall not be estimated otherwise than by the specie dollar and of consequence that no man may in any case be constrained to receive the paper unless he prefers it to specie. This is sound Whig doctrine. And we are led to the unavoidable conclusion that such men sustain principles the opposite of those they profess because of prejudices in favor of their party or dislike to leave the men they have so long supported or from a lack of an independent determination to sustain MEASURES rather than MEN.
What sub-type of article is it?
Economic Policy
Partisan Politics
What keywords are associated?
Van Buren Men
Whig Doctrine
Specie Currency
Paper Currency
Mixed Currency
Party Loyalty
Economic Policy
What entities or persons were involved?
Van Buren Men
Whigs
Editorial Details
Primary Topic
Debate On Exclusive Specie Versus Mixed Currency
Stance / Tone
Pro Whig Mixed Currency, Critical Of Party Loyalty Over Principles
Key Figures
Van Buren Men
Whigs
Key Arguments
Many Van Buren Men Hold Whig Views On Currency But Support Opposing Policies
Exclusive Gold And Silver Currency Is Paramount Issue Between Parties
Whigs Favor Mixed Paper And Specie Currency Redeemable In Specie
Van Buren Men Push For Exclusive Specie Reducing Prices Of Labor And Property
Regulated Paper Currency Aligned With Specie Is Sound Whig Doctrine
Van Buren Supporters Back Opposite Principles Due To Party Prejudice Or Loyalty To Men Over Measures