Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1837-05-19
From the Boston Atlas.
THE WAR UPON THE CURRENCY
IT'S INFRINGEMENT AND
IGGJ1E

ISSUE
We would call particular attention to the
facts developed in the following article
which y cscn's a view ofthc whole course
OF the Executive ia relation TO the Cnrrcn
cy-showng its original plan Of substituting
Local PAPER CURRENcY for the Cur
rpncv of the u. s. Bank: the admitted
failure of that plan; the late after thought
of a Metallic Currency, and the admissions
of the Executive that it has dcs roycd the
Currency. and done "lit,lc" towards intro
ducing another. We give history of the
whole process as it is furnished by the doc.
umens Of the Executive Department.
Such series of failures, frauds. and false
hoods, broken promises and exploded cX
porimcnts, us nrc exhibited in the following
paragraphs, dsgroces the diplomatic history
Of no other administration, popular or dcs
po,ic, that has ever fallen under our obser,.
vation
TIE PRETENDED EVIL TO DE REMEDIED.
1899.
U. S. Bank has fallcd in the great end Of
establishing a UNIFORM AND SOUND Cur.
Observation-Disclosures Jachson.
AUGMENTATION OF EXECUTIVE POWER THE
REAL OBJECT.
81 submit to the wisdom Of The Logisl
turc whether National one Bank found
ed upon the credit If he Government and its
revenues. might not be devised which would
avoid all constitutional difficulties and, at
the same time secure all he advantages to
the Government and Country that were EX
pEcTED to result from The Present Bank"
1880.
HINT OF AN EXECUTIVE BANK AND THE
sUB-TITUTE FOR II. $ BILLS.
at is thought practicable to organize
such bank with the necessary officers, as
BRANCH OF THE TREASURY DEPARTMENT..
The States would be strengthened by hav
ing in their hands the means of furnishing
the LOCAL PAPER CURRENCY THROUGH
THEIR own BANKS" .Qndre,v Jackson.
lHcrc is the original plan. Not sylla-
bic of the Metallic Currency in either Of
these messages. This part of the ilumbug
was entirely an ancr,hought. The origin
a plan was TO substitute n GOVERNMENT
BANK for the Bank of the U. S. aud to for.
nish the People with a Paper Currency Of
the Local Banhs.]
1881.
"En,crtaning the opinions hereto fore
expressed in relation to the Bank Of The u.
S. as at present organized.
leave it for the present to the es,igaion
Of an enlightened people and their REPRE-
sENrArIvEs." "A. Jackson.
[Their representatives accordingly inves
tigated the subject and re.chartercd the
Bank
THE ACT PREMATURE.
"Whatcver interest or influence has Civ.
en- birth TO this act, it c"nnG' be found
either in the ciShes or necessities oCthe Elk
EcUTIvE DEPARTMENT, by which PRESENT
ACTION is DEEMED PREMATURE !"-.4ndreu
JachSon's peto.
land this after he subject had beer
three times brought to the attention o
Congress by the Executive itself]
"Neither upon the propriety Of prescn
action. nor upon he provisions Of this ac'
was the Executive consult ed'-IJ.
TT is singular fact that the phrase
METALLIC CuRRENcY, or BETTER Cur
RENcY, does not occur in The Veto Message
nor is there the slightest in,ima'ion tlIn
the Executive contemplated at that tim,
any other substitute for the bills of the U
S. B. than the PAPER CURRENCY OF TIL
LOCAL BANKS.
REMOVAL OF THE DEPosITEs FIRST sUGGEs
TED.
"Such measures as are within the rcacl
Of the secretary of the Treasury have bee,
taken to enable him to Judge whether tn
public deposi,es in that institution ~. S
b., may be regarded as entirely safe; bu
as his LIMITED POWER may prove made
Qnate to his object, recommend the sub
ject to the attention Of Congress- under lh
FIRM BELIEF that it is worthy Of their Sc
RIous INvEsTIGAvIoN. An inquiry into tn
transaction Of the institution, embracIn
the branches as well as the principal bank
seems called for by the credit which is civ
en- throughout the country to many scrlou
charges impeaching its character, an
which if true may justly excite the apprc
hensi0n that it is NO LONGER A SAFE DE
posIToRY OF THE MONEY OF THE PEOPLE.
Here is wanton and deliberate at,ac
by the Executive on the credit of an inst
tuition which was the dI,bursing agent
the Government, he'd millions of its reyC
nue., and in which the Government was
etockholder to the amount of a. 600 OOt
The confidential ngent of the Treasur
annn,n,oI a. T.