Charles Sumner: his complete works, volume 11 (of 20)Sumner, Charles
History
Charles Sumner: his complete works, volume 11 (of 20)
Sumner, Charles
Slavery -- United States; Speeches, addresses, etc., American
I know not how others are impressed, but to my mind it is difficult
to imagine anything, short of those everlasting principles of human
freedom involved in this war, which should at this moment be more
carefully watched than the currency of the country. Let this be safe,
and everything will be safe,--army, navy, and the whole national
cause. Such a currency will constitute an epoch in the history of
the country,--ay, Sir, in the history of the world. There have been
ministers in other countries and other times whose names are immortal
from association with commercial reforms. Colbert was the founder of
the commercial system of France; Peel was the founder of free trade
in England. But the present Secretary of the Treasury, when the new
system is at last triumphant over all obstacles, including the mutiny
of State banks and the lukewarmness of Senators, may boast that he
has given a currency to his country. Next after the great gift of
human freedom there is nothing greater he could give,--nothing that
comes home so completely to the business and bosoms of the people,
rich and poor, throughout our wide-spread empire. An improved currency
is like sunshine, penetrating every corner of the land, under which
commerce, business, comfort, civilization, life itself, will put forth
blossom and fruit. Nobody in the community too high, nobody too low,
not to feel the new-found boon filling every household and travelling
on every highway. But it is seen now in another aspect. An improved
currency is like a new levy of national troops, a new navy afloat, a
new contribution of supplies. It is the herald and assurance of untold
success. In itself it is a present daily victory,--fruitful parent of
victory everywhere.
Such is the object proposed,--important at any time, inconceivably
important at this moment. And the question recurs, Are you for a
national, life-giving currency, or are you for the State banks? You
cannot be for both; one must yield to the other. If you are for the
former, you must abandon the State banks, or compel them to enlist in
the national cause.
Massachusetts--which has a larger bank capital in proportion to her
population than any other State, and, moreover, looks to taxation of
this capital as a chief source of income--has already, by her patriotic
Governor, volunteered support to the national banks.
Here Mr. Sumner quoted from the Address of Governor Andrew to
the Legislature of Massachusetts, January 9, 1863.
Such is the testimony of Massachusetts, by the lips of her brave Chief
Magistrate. Seeing the object before us, he raises no question of State
rights, presents no claim of State taxation, makes no plea for State
banks.
Public-domain text, read in full here on John Shaqi.
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