Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1837-01-24

Bot this Treasury order will be = disiurb,p, 81.
every hour 1t is suffered to exist. Indeed p y.
no, be allowed TO cXis, long. II is no, pa
that tho West can submit To- measure st o,.
injurious and 50 partial. Hard money al the
office aud bank nnics u, tho custom house
make men upcn their eyes after while. Vlr,.
degree OF political confidence weigh down ID,
Ids ! look upon il, therefore, as CERTAIN d.
tho order vii not be permitted long to rem,
force.
II am now asked, sir, whether, suppose,
order 10 be rcseindcd, and the depCsilc law t,..
ted, and the transfers discounted. ailaits g.. q.
turn to their former state, answer, WGh agn.
dor, that though look in those event. ft r,,,
Improvement, do not expect TO see the don,,.
exchanges and tho currency roturn cn,,,,.
their former state. do not believe thcrrp,.
agency Al work at present, competent 10 bra.,
bout this dcsirahlc end. IN other word4 d,,
believe that the dcposi,c banks, however We q.
ministercd, cnn fully supply the place ofa n,Ior,
institution and am very much mistaken n,
tc'hgoui men connected with hose ns,irol.s
Themselves believe any such thing. find. r
IN 1928. 1920 1880, 1891. and 1882. cychs,.
at New York, in the Southern md Sou,hwe,,r
cities, avcarcad three fourihs of nnc per cent. d.
count, or Whereabouts. Now, ! doubt whci.
tho most snngunc cf thosc connected with tho d
posite banks expect to be able, thronrt h,,
means, to bring back exchanges to tina, state o.,
any thing like il.
The deposi'e banks arc sepera'ed and dilu4
institutions many Of thcm STRAIT gers 10 ench olbr,
without iulI confidence in eoch other. and all a.,
ing without uniformity Of purpose. Their oN,t,,
are Distinct, their capitals distinct, their intes,
distinct. If ono Of their has connection with So.
others, it yet has uhhrokcn chain Of connect
They have nothing which runs through the who,
circle of The exchanges, that circle is draw
through tho great commercial cities of the Union
They can only net Ia tho business Of exchange 10
The extent of funds, o, not much beyond il. actg
ally existing. national institution, with brnr.
chos or agencies at d lcrcnt points may deal e.
between these points in amounts 10
mert the convenience Of tho public, without refer
rnce To the fact Of the existence of local fund
One institution, therefore. with branches hns f,,
ltles which never can be possessed by different
Institutions. however honorably OF obly cnnductcJ
For myself, am ofthe same opinion rs flrmc,
y, that for the administration of the finances of
ne country, tor the facility of internal exchange,
md tor the due control and regulation of the actin
II currency, national institution. under prouer
yards ana limits, is by far the best means within
'ul reach. And am, us always have been, of
'phon, that Congress having the power ofrcga.
ating commerce, and the power over the coinage
las power, also, which it is bound TO exerris By
awful means over that currency I'm which The re-
ehnc Is to be collected. and which is IN cs,rv m
nat commerce. external and Internal which i.
hus committed to its regulation and protection.
Nj the duties Of this Goverment are, in my ind-
neni. not fulfilled. while il leaves these great 1,
eres's, thus confded to its own care. 10 the d,
re'ion OF others, or TO the results of chance. BIT
VIII not 60 further mo these subjects at tho
resent time
Mr.. President, am Indifferent TO the form in
'hIch the Treasury order muy be done away. Gen
emen may please themselves in the mode De
ewing 1t to be both Illegal and injurious, I sb,g
',e to recind, to revoke, TO abolish, to snpg.
edc,'o do any thing which may have the ensc,G
it's existence