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Wheeling, Ohio County, West Virginia
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A Richmond Times editorial highlights a Mississippi Senator J. Speight's letter protesting the Senate's passage of a bill issuing $10,000,000 in Treasury notes on July 18, 1846, arguing it unconstitutionally turns the government into a 'shinnplaster bank.' He criticizes the tariff bill for offering little relief to the South beyond abolishing specifics and minimums.
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WASHINGTON, JULY 18, 1846,
Messrs. Pierce & Fall: I am not in the habit of writing for newspapers, because the city newspapers give the news, and sometimes our fancy leads us to write what never comes to pass. But, sirs, I will depart from my rule just far enough to say that a bill has this day passed the Senate authorizing the issuing of $10,000,000 of Treasury notes, to which, in behalf of the people of Mississippi, I enter my protest. I am opposed to converting this Government into a shinnplaster bank. The constitution authorizes it to borrow money, but nowhere do I find any authority to issue Treasury notes: therefore, let the Government raise its revenue by borrowing or by taxation. The Senate is engaged with the tariff. I cannot say what will be its fate. Beyond the abolition of specifics and minimums I consider it but little relief to the South. In the course of a long service in politics, I never voted for the issuing of rags and lampblack in any shape, manner, size, or form, and, so help me God, I never will.
J. SPEIGHT.
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Editorial Details
Primary Topic
Opposition To Treasury Notes And Tariff
Stance / Tone
Strongly Opposed To Issuing Treasury Notes And Critical Of Tariff Relief
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