Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1837-11-23

branch policy, Ibis tearing mp things estabs
t%osupply their places with new ttco-
ries, however newly CONSTRUCTED, or care
fully elaborated, IS the par: Of prudence
and wisdom. My nature aud habits of
thought, confirmed by the terrific expcri-l
cncciof lhc.last fonr.years, make mo a .con
servatiyc. ] hesitate III every proposition
to- destroytthat you may build again. If
anyof our Institutions lave suffered dam
agc,Tlct us repair tbem.if any, portion of
the vast ed!fce Of our prosperity has hocn
injured, let us with ~ncautious and reverend
hand restore W hat has been LOST, strengthen
what remains. adjnstltiic proportions, If
you choosesproceedilg il. alf"ith a scdatc
and steady purpose OF not.weakenin. tho
deep foundations. Let us not, Sir, with n
fantastic caprice tear down the solid, aud
letsn say glorious labr;csof our prospcri-
'ty;; that we may try as futile a device as the
lamp Of Aladdin to build up auoth.cr iii one
nisht:of fairy marhel, and gold and gems.
Ii is the part OF statesmen TO deal with the
circumstances around them. In The closet
of n Philosopher, in the desk Of a Profess
or, speculation may discuss what is best
and genius indulge its aspirations for the
'cllief good-bu! HE practical politician is
fenced around by measurable necesitics.-
He has Ia deal with things net With IDEAS.
lie must %controul not create. lie mus,
govern iIimscifbv the circumstances amidst
which, lc finds himself. use the Instruments
thai arc presented TO him and be con cnt
with sucl, results rs lie can attain, without
attempting suci, as he. can imagine. T.c
genius and temper Ct Naro,ron might as
rirc toa diiicrcu. destiny, but curs, thank
God. is humber and safer. We udminis-
lister Il limited Government for free and self
wiilcd States, whose bidding aud whose bu-
sinoss we are TO do. They have placed us
their servants in the midst of a ercat>bank-.
ing systcTl; n system Gr credit surr0ulml-
in~. ~pcrvading and penetrating the whole
body polite. Mr.. President VIC ;nusi con-
lirm To our condition, VIC mus work upon
the platiorm prepared Tor lis, we must use
The materials furnished 10 orr hands. 1t is
in vain for us to Try 10 cXtrica.e ourselves
from tie conditinn nftour existence. We
have not the strength. God forbid that we
should have it) 10 disronnect ourselves from
the circumstanccsir Which tie States place
us. And it we attempt To tear ourselves
from them there may be much suffering, "a
struggle and agony; hut You will have at
length 10 come back 10 YOUR allegiance
and content yourself with reform instead
q! revelation. Lct us t;.cn, wisely and Il.
once, begin 20 correct, cpnirnul, regulate,
modify, ADJUST, do any thing BIZ, destroy.
4 =
~ shall, MIR. President, as soon as it is
i'll order. move an amendmcn, TO the bill
before us. providing for The SyrciO! depoS-
iiCS nfIhr money in the State Hanks"
"Sir, it is said hat this government should
moi lnirust lis money TO institutions over
which it has no conirnul. The proposition
amounts TO this, that TIC Government has
not power erono'i over tho banks to protect
lis OWL interest. AMI yet in The same breath
il is commended tia, 10 allow this Govern
menl to use those banks, will endow il with
, Il poTcr 7, over them dangerous ,otlc country
The propositions ncn,raii2c each o~lllcr.--
But, Sir, | am nu. Disconnected to sec this
6oHrrnmSn uSinr-S:aia-n nanaian-aAc -a"-
they are Iii TOR its purposes. | am moi IL
| verse 10 SOME liuie,cUn,rnul OH the pari Of
the STATES, over the moniri power of this
GOvernmcnt. II is one C:i!p r~econnncnia-
tons 10 my system, that the Government
has NOT so much c]nn,roui over the banks as
over It's suj-twastries. The policy | pro
pose, Mr.: President, is simple. obvious, and
~dic1a!ed by our actual condition; it is to en-.
courage tie hanks To resume sp Gle pay
mcn,s. TO receive in discharge of Govern
ment dues, notes Of sPccic banks, and 10
make special dcpnsitcs in the State banks
of your revenue, when collcctcl.''
"Tlius&we conform ourselves To our con-
di1ion. Thus we acquicscr in the business
habits Of the country. Thus we uscthc in
stitulions provided 10 orr hands. Thus we
preserve %aliflIat experience mas proved To be
good and reform what experience has shown
to require it. Thus, Sir, we avoid the leo
pardy of Tcrotaii0n, VIC ~e:capcrlic ,crrnrs Of
e3j.ciinent. a wGrd wliicii in tic mouth. of
this notwithstanding should appsl The heart
of every lover OF his c0mh;rv. Lie, meek
anime for n iiomcnt, Mr.. President, This
sub-ireasurN experiment. My colleague
has Objected to.the name OF sGb-treasnry.-
Sir. u Is Il nisn0mcr, as j solcmuly be-
lievc it is intended 10 be- II ,ircnsury bank,
thoroughly equippcdand caIcnla'-fior GOV
ernment and pariy purposes, and devised
as tho only means .Ofprescrvine the asccn-
dancy of the pariywhiclLli has so long abused.
patience. The course of proceeding is
obvious and has been avowcd. For t!isbursc
mcnts i'll one part Of the country wIlcre4tlie
Government, has no money, its sub treasurer.
draws a bill on another where there is money
This bill is paid toIl!e Government creditor
or sold for funds TO pay him with, and is
ii us put into circulation. The sub-treasli-
rer at thus "a Cashier Of the branch
at Orleans who issues Il bill pay able at the
mother bank n, New York. Thus The Cir
culatian-nfh bills il Observation-Disclosures i
upon the faith nf specie or Gnvcrnncnf pa
rer in the hands OF the sml,-,rcasurers. Or
five are reconsider the scheme as a whole,
without reference 10 the parts, then the case
is this the treasury draws a bill upon itself,
and puts il into circulation, payable on de
mand. Now in what does this GiiIcr from:
n bank bill! IL is obvious that this process
makes the snb-treasury Il bank OF issuc and
circulation, but is it also a bank of discounts?
The Government has funds in New York.
and desires to have them transferred to
Chicago, by what process is il 10 be llone.2