Martin Van Buren Writes A Lengthy Letter Concerng Banks and Currency

Martin Van Buren (1782-1862) 8th President. 5” x 8”, eight-page, front and back (two 10” x 8” sheets) Kinderhook, December 12, 1854, to “Mr. D. Van Buren.” A lengthy letter on financial matters, difficult to read due to Van Buren’s poor penmanship. “…The government backs only its own money… This information in Banks are secured by the stock & personal responsibility of the stockholders and the efforts of the Banks… to build up a foundation for the whole, & for the profits thus as many make or many have made from its protection… there will be neither stock nor stockholders…our honorable President using a large balcony & with power to select all his…& made responsible for their embezzlements with a respectable upright & …Board … is the most of what you can do… the condition of the Bank of England after the suspension of the Charter acct. But our Country is notable enough or right enough the commercial dealings to make such available quite safe… systems might be allowed together & have the poorest to break down. Certificates of deposit in your independent Treasury or whatever else it may be called, made in the form of bills…delivery would be suspicious for obvious reasons to a note of the Bank of England notes founded would be the best in the world…believe me. Truly yours M VanBuren.” Normal mailing folds.