The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1837-10-25
NEWPORT.
WEDNESDAY, OCT. 25th, 1887.

HE CUB htAsbff c1sIEM.-W w q ldy
before our readers, to-day, the bill TO estab-
lish the sub-treasury system, or, as it is ia
niliarly called, the "divorce bil'-as it
passed the Senate, and now lies on the ia
BILE of the House-not, as the opposition try
to make it appear, because the administra-
tion was defeated Oh the measure, but be-
cause there was no occasion to force its pas
sage, the main features of il being now 10
practical operation, and some members
wishing time TO consider It, and consult
their constituents. We regret the delay
because it leaves the subject open to agita-
tion, and prevents the business of the coun-
try from being conducted with the conf
dence which knowledge of the decided
action of the Government would establish.
There is, however, bur little doubt enter
tanned of the final passage of the bill.
We recommend the bill to the perusal of
our readers, that they may see for them
selves, how well the safe keeping of the
public money will be provided for, and
what severe penalties will be inflicted on
It's use or embezzlement, by the officers hav-
ing it in charge.
The Secretary of the Treasury, in an-
swer to resolution of tho House, calling
for statements of the number of new Off
GERS which will be required, if the bill should
become law, aud the estimated annual
expense of the system, has rendered re-
port, in viii h he says that, in all, from ten
to twenty additional clerks may be necessa-
ry, and that the whole additional expense
is computed not TO exceed the aggregate of
$4,000.
! The Albany Argus contains the follow
ing sensible and judicious remarks upon
the operation of this important measure,
us eiiecting the separation OF bank and
state. We commend them to the consider
alton of those who entertain different opin-
ions on this subject:
| "That The separation will be effected, or
rather that it will not be resumed, we have
not the least doubt. Nor do we doubt that
The results, instead of producing the disas-
trous consequences predicted by some and
apprehended by others, will rebound to the
best interests the banking institutions, and
to the general welfare. The separation
has been actual and operative for the last
five months; and notwithstanding the vast
curtallments in discounts and circulation,
and the heavy payments to government, by
the banks, the pecunary condition of the
country, and of the business community,
particularly, has been in n continued and
gradual state of improvement. Contrast
the condition ofthe money market, and the
general business operations, at this mo-
ment, with the condition of things on the
10Th of May last, and Judge whether the di-
vorcement has been productive Of the evil
and embarrassments which it is easier to
predict than to show. The truth is, the
change has been already Effected; and few
if any of the predicted adverse results can
follow from its continuance. On the con-
trary, its adaptation to the wants and COM
merce Of the country, will be easy and im-
percrp,ible, and will not be felt beyond,
possibly, the lew banks, aud their immed-
late customers, that have held, or may hope
again to receive, large amounts OF the de-
/ poslte moneys; aud even if the connection
should be resumed, such hopes would be
disappointed, for no such large amounts can
be expected again to be on depostc. All
that is now desired, is the settlement Of this
evoked question:" upon some basis that
promises durability. The banks and the
public stand in need chiefly of quiet, and
desire, of all things, stability and freedom
1 e. H. =.
doubtedly part of the game Of the oppos-
ition to keep the question open, and the
condition Of things unsettled, with view
not only to party objects, but 10 the accom-
plishmcnt, sooner or later, of the still cher
shed hope Of national bank.
The principal difficulty, which the de-
pos,c bill from the senate does not provide
for, is the ultimate accumulation of moneys,
possibly coin, in the government deposfor-
les. In the present state Of the treasury.
with the prospect that the expenditures will
ut least equal the receipts. no immediate
danger in that respect is tn be apprehcnded
But the continuance Of such state "f things
cannot be counted upon |; and Il Istl'e pan OF
wisdom to guard against results n"' ""'y
directly objectionable, as locking up the 'Pe-
Gle of the country. but c"'S r'a'ed 10 eSe"o
lthe public hostility tn the measure a"o :"
IN. .,v~rumr,.t agencies. IL not tn the gov
crumen, itself The remedy may bc ap-
nl;rd in the stan. by adopting ,l,e sugges-
lion of Mr.. Wright at the last session, aud
authorizing the investment of any surplus
beyond the uses Of the mint. the appropriz-
rions, aud saw five millions of dollars, in the
stocks issued by the state governments. Bv
this means. the government surplus. ifnny.
instead OF being boarded ard unproduc'ire.
both TO The treasury and ll'c people. w""ld