Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1837-08-14


oTbe next part Of the subject CONTINUES
the Pa:n Dcaler) consists Simply IN giving
freedom 10 trade, and leaving men 10 pur-
sue the business Of blnkinC, or any branch
of traffic IN money and ciedir, without any
more restraint upon them than there Is IN
re ference 10 the cOmmoncSl V0caliohs oil
life"
1t is nsterial 1oint Of this plan, and II
will be observed, that the national govern
ment shall lsburse TO the amount oil 81 or
40 millions annually, soas to give that A.
mount OF circulating medium in treasury
drafts.
the evoep lures otthe government were n
bout - millions annually. They have, m
dor tbc "iclurm" OF Gen. jackson, aud Van
Biren, risen TO more than so millions. We
hope there may be st genuine reform winch
SHAH hing back the government TO an econ
omv w rh shall no, 'isburSe more than IL
or 30 mil!rns annually. This may be done
and w. De done, when we can nave an adj
minisi..ijon more intent ON maintaining
renu'ue republican simplicity in the gov
crnrneu.. than in making it with all It's re-
venues m instrument OF administering to
the CT. .ings ol an insaliatc ambition. The
cyncI urers Of the general government
mus, hc Greatly reduced, or the growing
patroro re and power OF the Executive will
ruin tae country.
Illfn. we have n genuine republican
admin ration, ono part OF the new pan OF
Ii currency must, To great extent Tan Tor
tn suoDose that 80 millions OF treasury drafts
will 'prm ga sum adequate TO the ordinary
purposes Of currency" is about as wild
4
III, r,ncv What is 90 millions I, the
90, r,,,lions which are necessary to rive an
,d.o,,,,e CURRENCY 10 the twenty six states
nj union.
RI tue deficiency is 10 be made up, nc
coriieer 10 thisanti bank plan, by the bills
ofrr;yo,e bankers. who for the sake ofavoid-
inc ali monopoly. are to be permitted TO
carr nm the business of baking "wi1hout
any ,,ore restrain, then there is n the COM
n,nra1 vacations in life" This we call
.,p,,,v,ne nry MAD" Who couM have
tLor,,h, that system like this. which is to
take away ali lerislotivc1 control from
h,nL ,,r oncrations and flood the country
u,;tb he naner of Mi individual and nrivo,e
associations who can contrive TO push their
hills INTO circulation, would have found a.
yor with the .New-Lights Of Vermont
csDecialv here. where there arc so many
who remember the "Gass Factorv" expo
sioq, and whose pocket books still furnish
cvid ence OF their suffering by it.
What does all this mean? Here are
sci of men who have bccn clamnrnr about
the over issues of banks and the danger ola
rog currency, and sirbing for return OF
good old hard money times, who are sudden
+ GUSHING 10 ror money extreme that
Il d, al .,Io,,l,,;on ri tie r,;ro,,. o,,,,o
O.rnccs. There is to be no more restraint
upon the business Of banking than there is
upon ",hc commnnest vocation Of life 7"
OF course, il an individual can manage 70
10 bio v IN his credit, so as 20 get into Cir
cnlation Bills to zen or twenty times the a.
mount OF his capital, he is 10 be under no
"resraint !" All restraints would be Of the
nature OF moEopoly--a violation OF the prin-
cpie OF equaI rights.
The mischief of the existing banking